Not actually having the total of capital…Michael J. Saylor Wife… so with anything that you’re finding out about please do study the platform do not simply presume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row buy these options since you believe is the ideal ones for you and that being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included truly important you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no charge websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with fees really essential to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a number of other fees the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just among those choices that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to keep in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state give me us dollars instead you need to pay their fees now the excellent thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their site will not definitely limit you in any way however we have to understand two other fees the very first being what’s called spread costs alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael J. Saylor Wife.
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