Not actually having the total of capital…What Is Michael Saylor Net Worth… so with anything that you’re learning more about please do study the platform don’t just presume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you in fact get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row buy these options because you think is the best ones for you which being said let’s dive directly 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 aspect that is most likely.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio is 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 truly critical you understand what are the expenses of this now with any platform there will be some cost to certainly 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 fee websites then may not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission costs are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling 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 ensure that i’m just withdrawing when i definitely require to now you may say alright that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to bear in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck with 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 offering 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 state give me us dollars instead you have to pay their charges now the excellent feature of though when you have actually converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website won’t certainly limit you in any way nevertheless we have to be aware of 2 other fees the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to show you What Is Michael Saylor Net Worth.
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