Not in fact having the total of capital…Michael Saylor Banned Twitter… so with anything that you’re learning about please do study the platform do not simply presume since 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 consider that option as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made profit 14 months in a row invest in these options because you believe is the ideal 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.
famous for it’s the alternative to see what other traders are doing incredible we don’t typically 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 wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates if for instance 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 likewise cover is the charges involved truly vital you comprehend what are the costs of this now with any platform there will be some expense to obviously 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 a few of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs private commodities individual 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 sort of fees 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 really start buying copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling fine so commission charges are totally free however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put cash 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 in the future but when you want to withdraw your money 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 obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state all right 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 just one of those options that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every six months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really 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 state give me us dollars instead you have to pay their charges now the terrific feature of though when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Banned Twitter.
You are provided many options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this may be precisely what you require.