Not in fact having the full amount of capital…Michael Saylor Party… so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that choice too so you actually get used to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row purchase these options because you believe is the right ones for you and that being stated let’s dive straight 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t normally 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 really state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your cash will be simulated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real 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 zero cost sites then might not charge you for actually buying and selling etfs or funds private 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 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 know before you in fact start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually essential to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling alright so commission charges are complimentary however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put cash 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 wish to withdraw your cash so you sell your shares you sell your commodities 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 of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing but that is a charge to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway 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 utilize anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have i expect stuck to whatever charge 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 in fact providing 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 give me us dollars rather you have to pay their costs now the fantastic aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually great using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other fees the first being what’s called spread costs alright and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor Party.
You are provided 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 don’t understand which system to pick, then this may be exactly what you require.