Not actually having the full amount of capital…Michael Saylor Kimdir… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you really get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually said they’ve made earnings 14 months in a row invest in these options since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that suggests 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 charges involved truly vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no cost sites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 understand prior to you in fact begin investing in copy trading or copy portfolios and lastly some best guidance best 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 fees really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling all right so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s automatically 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 sell your products 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely require to now you might state all right that’s quite pricey and i get that but 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 clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a charge to remember the 2nd cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state give me us dollars instead you have to pay their costs now the fantastic feature of however when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as money 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 occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their site will not certainly limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Kimdir.
You are offered numerous alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t understand which system to pick, then this may be precisely what you need.