Not really having the full amount of capital…Michael Saylor Annapolis… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get utilized to the structure of the website and then 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 investing in real business if you select to in this particular 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 just do something since that person has stated they’ve made earnings 14 months in a row purchase these options due to the fact that you think is the best ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible 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 cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for example 10 of their 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 charges involved really vital you understand what are the costs of this now with any platform there will be some expense to clearly 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 some of the absolutely no fee websites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you in fact begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really important to understand these now on there’s a number of fees there isn’t charges to do with actually buying and selling okay so commission costs are complimentary nevertheless there are a number of other charges 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 instantly converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your products 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s great 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 charge now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say offer me us dollars rather you need to pay their fees now the terrific feature of though when you have actually converted your cash you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies 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 additional charges so that’s truly excellent utilizing that part of their site won’t definitely restrict you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Michael Saylor Annapolis.
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