Not in fact having the total of capital…Michael Saylor Yahoo Finance… so with anything that you’re learning about please do study the platform don’t just presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get used 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 danger this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row buy these choices since you think is the best ones for you and that being stated let’s dive straight 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’s part of social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 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 fees involved actually important you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero fee websites then might not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 before you in fact begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really important to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling alright so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell your shares you offer 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 require to now you might state all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five 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 entirely how you’re investing however that is a cost to remember the second fee that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits 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 excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually providing 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 provide me us dollars instead you need to pay their costs now the fantastic thing about 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 means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other fees the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Yahoo Finance.
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