Not in fact having the full amount of capital…Pastor Michael Saylor Twitter… so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that option also so you in fact get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re talking 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 actually said they’ve made earnings 14 months in a row invest in these options since you think is the ideal ones for you which being stated let’s dive straight 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 becomes part of social trading which is one aspect that is probably.
popular for it’s the option to see what other traders are doing unbelievable 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 indicates with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates if for example 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 likewise cover is the charges included truly crucial you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for really buying and selling etfs or funds private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing 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 charges with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and lastly some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with fees truly important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission charges are complimentary nevertheless there are a couple of other fees the very first one is withdrawal fees so you can obviously put cash in now if you remain 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 want to withdraw your cash so you offer your shares you offer your commodities 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 obviously 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 quite pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those choices that they have a lot of platforms clearly are totally 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 as soon as every 6 months you understand depends totally how you’re investing however that is a charge to bear in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists 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 give me us dollars instead you have to pay their charges now the terrific thing about however when you’ve converted your money you do not need to invest it right now 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 purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their website won’t certainly restrict you in any way however we need to know 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Pastor Michael Saylor Twitter.
You are provided many options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be exactly what you need.