Not really having the total of capital…Michael Saylor Digital Energy… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that 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 give that choice also so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row buy these options due to the fact that you think is the best ones for you which being stated let’s dive straight in [Music] so the 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 element that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not usually 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 actually say i want to do precisely what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 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 fees included really critical 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 purchasing the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for actually buying and selling etfs or funds private products private 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 kinds of costs 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 understand prior to you really begin purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with charges truly important to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission charges are complimentary however there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however 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 of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you might say fine that’s rather 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 fees are simply one of those options that they have a great deal of platforms clearly are totally 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 once every six months you understand depends totally how you’re investing but that is a cost to bear in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they really giving 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 state provide me us dollars instead you need to pay their charges now the fantastic aspect of however when you have actually converted your money 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 indicates the initial 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 charges so that’s truly excellent using that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread charges all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Digital Energy.
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