Not actually having the full amount of capital…Michael Saylor Instagram… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can utilize it right away 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 used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row invest in these choices due to the fact that you think is the right ones for you and that being said 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.
well-known for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for example 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 also cover is the costs involved actually vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 a few of the zero cost websites then might not charge you for in fact buying and selling funds or etfs specific commodities 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 kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually begin investing in copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees truly essential to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission fees are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you offer your commodities 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms certainly are totally free 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 when every 6 months you know depends completely how you’re investing however that is a charge to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 open market anybody this is standard they have i suppose 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 charge exists what are they in fact 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 say provide me us dollars rather you have to pay their charges now the fantastic thing about however when you’ve converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their site will not certainly restrict you in any way nevertheless we need to understand two other fees the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread fee as i’m going to show you Michael Saylor Instagram.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this may be exactly what you require.