Not actually having the total of capital…Michael Saylor And Wife… so with anything that you’re learning about please do study the platform do not simply assume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you really get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing real companies if you choose to in this specific video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these options due to the fact that you believe is the ideal 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’s part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests if for example 10 of their 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 costs included really vital you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine 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 cost sites then might not charge you for in fact buying and selling funds or etfs specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 really start purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a couple of other costs the first one is withdrawal fees so you can clearly put cash in now if you remain 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 later however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum amount 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 ensure that i’m only withdrawing when i definitely require to now you might say alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those choices that they have a great deal of platforms undoubtedly 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 six months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and two free trade anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 say provide me us dollars instead you have to pay their charges now the fantastic feature of though when you have actually converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not definitely restrict you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor And Wife.
You are offered lots of choices 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 select, then this may be precisely what you need.