Not actually having the total of capital…Michael Saylor Microstrategy… so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so undoubtedly 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’ve made revenue 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and generally whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that implies 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 charges involved actually important you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine 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 absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 prior to you really start purchasing copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission fees are free nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put money in now if you’re 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 in the future but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms clearly 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 when every six months you know depends completely how you’re investing but that is a fee to keep in mind the second fee that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s fine that suits 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 anybody so if you’re using trading two and 2 open market anybody this is basic they have i suppose stuck with whatever cost 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 providing you in regards to 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 rather you need to pay their costs now the great aspect of however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial 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 extra charges so that’s really excellent using that part of their website will not certainly limit you in any way however we have to know 2 other costs the very first being what’s called spread fees alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Michael Saylor Microstrategy.
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 but do not know which system to pick, then this might be exactly what you require.