Not actually having the total of capital…Michael Saylor Digital Energy… so with anything that you’re learning more about please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well 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 of course your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk 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 invest in these choices due to the fact that you believe is the right ones for you which being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really vital you understand what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no fee sites then may not charge you for really buying and selling etfs or funds individual commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with charges truly important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling fine so commission costs are free however there are a couple of other costs the first one is withdrawal fees so you can certainly put money in now if you remain in the uk we put our uk cash.
and it’s immediately 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 sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply among those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a charge to remember the second cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge 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 haggle with them you can’t go to the bank and state provide me us dollars rather you have to pay their costs now the terrific feature of however when you have actually converted your cash you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their site will not certainly limit you in any way however we need to understand 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Digital Energy.
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