Not really having the full amount of capital…Michael Saylor On Xrp… so with anything that you’re learning more about please do study the platform don’t just presume since i utilize it that you can use it immediately 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 after that when you’re ready to utilize 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 genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row buy these choices because you think is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually critical you understand what are the expenses of this now with any platform there will be some cost to clearly 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 zero charge sites then may not charge you for in fact buying and selling etfs or funds individual products specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly crucial to comprehend these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission fees are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically 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 quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say alright that’s quite pricey 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 one of those alternatives that they have a lot of platforms certainly are totally free to do such things has this five 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 but that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they actually offering you in regards to 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 state provide me us dollars rather you need to pay their costs now the great aspect of though when you have actually transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their website won’t definitely limit you in any way nevertheless we have to understand 2 other fees the first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor On Xrp.
You are given many options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this might be precisely what you need.