Not in fact having the total of capital…Michael Saylor Debate… so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative 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 investing in real business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they have actually made profit 14 months in a row invest in these choices due to the fact that you believe 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally 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 money we can really state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their 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 charges involved truly important you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies 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 charge websites then may not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be costs 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 reveal you the fees with in particular in this video the next would be things to know before you in fact begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly essential to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are complimentary however there are a number of other fees the very first one is withdrawal charges so you can certainly put money 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 but when you wish to withdraw your cash so you sell 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 five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s quite expensive 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 just among those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a fee to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to 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 fee exists what are they really offering 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 state give me us dollars instead you have to pay their fees now the excellent thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly excellent utilizing that part of their site won’t certainly limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Debate.
You are given lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to pick, then this may be exactly what you require.