Not actually having the full amount of capital…Michael Saylor Height… so with anything that you’re discovering please do study the platform don’t simply assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they’ve made revenue 14 months in a row buy these options since you believe is the best ones for you which being said 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 probably.
well-known for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs included really vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies 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 zero fee websites then may not charge you for actually buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts maybe 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 charges with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges really important to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a number of other charges the first one is withdrawal charges so you can certainly put cash 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 later on but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those options that they have a great deal of platforms certainly 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 when every six months you know depends entirely how you’re investing however that is a fee to remember the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 say offer me us dollars instead you have to pay their charges now the fantastic aspect of though when you’ve converted your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor Height.
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