Not really having the full amount of capital…Michael Saylor News Today… so with anything that you’re finding out about please do study the platform don’t simply assume 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 money they give that choice also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying genuine companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that individual has actually said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved actually crucial you understand what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge sites then might not charge you for really buying and selling funds or etfs private products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you actually start buying copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs actually essential to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission costs are complimentary nevertheless there are a number of other fees the first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those choices that they have a great deal of platforms obviously are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends totally how you’re investing however that is a fee to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 free trade anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they actually giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state provide me us dollars instead you need to pay their fees now the excellent feature of though when you’ve transformed your money you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great using that part of their website won’t certainly limit you in any way however we have to understand 2 other costs the very first being what’s called spread costs okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Michael Saylor News Today.
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