Not really having the total of capital…Michael Saylor Contact… so with anything that you’re learning more 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 money they consider that option also so you really get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the best ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
famous for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that indicates if for example 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 likewise cover is the charges involved actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you really start 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 more advanced financier so let’s start with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary however there are a couple of other fees the first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you offer 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 knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are simply among those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends totally how you’re investing but that is a cost to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have i expect stuck to whatever cost 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 exists what are they actually offering 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 give me us dollars instead you need to pay their charges now the fantastic aspect of though when you’ve converted your cash 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 implies the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other charges the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Michael Saylor Contact.
You are offered lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this may be precisely what you need.