Not actually having the total of capital…Michael Saylor Quits… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row invest in these choices since you believe is the best ones for you which being said 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 element that is most likely.
popular 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 implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio is 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 truly vital you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee sites then might not charge you for really buying and selling funds or etfs specific commodities private 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 kinds of fees 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 understand prior to you actually begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s begin with fees actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission charges are complimentary however there are a couple of other fees the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity 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 sure that i’m just withdrawing when i absolutely need to now you might say alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those options that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you understand depends completely how you’re investing however that is a charge to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an option to buy in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and 2 free trade anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they really 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 state offer me us dollars instead you need to pay their fees now the terrific feature of though when you have actually transformed your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert 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 actually good using that part of their site will not certainly limit you in any way nevertheless we have to understand 2 other costs the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Quits.
You are given lots of choices 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 know which system to choose, then this may be precisely what you require.