Not really having the full amount of capital…Michael Saylor Interstellar… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use 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 choice also so you really get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the right 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 element that is probably.
popular for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved really crucial you comprehend what are the expenses of this now with any platform there will be some expense to certainly 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 sites then might not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to know before you in fact start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with costs truly important to comprehend these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling okay so commission fees are free nevertheless there are a number of other charges the 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 however when you want to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a great deal of platforms obviously are 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 once every six months you understand depends entirely how you’re investing however 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 just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say give me us dollars rather you have to pay their fees now the great thing about however when you’ve transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary 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 really excellent utilizing that part of their site won’t certainly restrict you in any way however we have to know two other costs the first being what’s called spread fees okay and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Interstellar.
You are provided lots of choices 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 know which system to choose, then this may be precisely what you need.