Not actually having the total of capital…Michael J. Saylor Wife… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger 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 purchase these choices since you believe is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
famous for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that means if for example 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 fees included truly vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no charge sites then might not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you in fact begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges actually crucial to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can undoubtedly put money 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 on however when you want to withdraw your cash so you sell 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a cost to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they really providing you in terms of 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 say give me us dollars rather you have to pay their fees now the great aspect of though when you have actually transformed your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies 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 fees so that’s actually excellent using that part of their website will not certainly restrict you in any way however we need to be aware of two other charges the first being what’s called spread charges fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Michael J. Saylor Wife.
You are offered many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this might be exactly what you require.