Not in fact having the full amount of capital…Michael Saylor Fund… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize 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 option as well so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices since you think is the right ones for you which being stated let’s dive straight 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 element that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their financial 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 costs involved really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts possibly 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 reveal you the fees with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling all right so commission charges are free however there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say alright that’s quite pricey and i get that but 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 obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing however that is a cost to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they actually providing 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 say offer me us dollars instead you have to pay their fees now the excellent feature of though when you have actually transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good using that part of their website will not definitely restrict you in any way nevertheless we need to know two other fees the first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Michael Saylor Fund.
You are given numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this might be exactly what you need.