Not really having the total of capital…Michael Saylor Zitate… so with anything that you’re learning about please do study the platform don’t just assume 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 consider that option also so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row invest in these options since you think is the best ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly critical you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine business 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 in fact buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 know before you in fact start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly important to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling all right so commission costs are free however there are a number of other charges the very first one is withdrawal charges so you can obviously 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 however when you wish to withdraw your cash so you offer your shares you offer your products 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 knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those choices that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a charge to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 fee now when you utilize anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they in fact 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 offer me us dollars rather you have to pay their charges now the fantastic thing about however when you’ve converted your money you do not need to invest it immediately that dollar worth 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s really great using that part of their website won’t certainly restrict you in any way however we have to know 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Zitate.
You are given numerous 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 understand which system to select, then this may be exactly what you require.