Not really having the full amount of capital…Michael Saylor Kimdir… so with anything that you’re discovering please do study the platform do not just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option too 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 of course your capital is at danger this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually said they have actually made earnings 14 months in a row purchase these choices due to the fact that you think is the right ones for you which being said let’s dive directly in [Music] so 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.
popular for it’s the choice to see what other traders are doing amazing we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your cash will be simulated 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 cash in so we’re going to also cover is the fees involved really vital you understand what are the expenses of this now with any platform there will be some cost 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 some of the zero charge sites then might not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be charges on other parts maybe 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 show you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees really crucial to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling alright so commission fees are totally free however there are a couple of other costs the very first one is withdrawal charges so you can clearly 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 want to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a charge to keep in mind the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 anyone so if you’re using trading 2 and two free trade anyone at all 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 wish to utilize their platform go from uk to us then that conversion fee exists what are they actually giving 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 say offer me us dollars rather you need to pay their fees now the excellent thing about though when you have actually converted your money 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 suggests the preliminary day that you buy or convert 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 truly excellent using that part of their website will not certainly limit you in any way however we have to know 2 other charges the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Kimdir.
You are offered many alternatives with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this might be precisely what you need.