Not actually having the full amount of capital…Michael Saylor Microstrategy Net Worth… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the site 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 threat this is investing we’re doing you’re purchasing genuine business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think 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 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 amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means if for example 10 of their financial 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 costs involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real 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 absolutely no charge websites then might not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 really begin investing in copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually important to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling all right so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal fees so you can clearly 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 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 amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a cost to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal 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 fee now when you use anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact 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 say offer me us dollars instead you need to pay their charges now the great aspect of however when you’ve transformed your money you do not have to invest it right away 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 buy or transform 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 really excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other charges the first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Michael Saylor Microstrategy Net Worth.
You are given numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to select, then this might be exactly what you need.