Not actually having the full amount of capital…Michael J. Saylor Net Worth… so with anything that you’re discovering please do study the platform don’t just assume since i utilize it that you can use it right now 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 used to the structure of the website and after that when you’re ready to use 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 speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row invest in these choices because you think is the best ones for you which being stated let’s dive directly in [Music] so 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 aspect that is most likely.
popular for it’s the option to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies 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 likewise cover is the costs involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 absolutely no cost sites then may not charge you for actually buying and selling funds or etfs specific products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with costs really important to comprehend these now on there’s a number of fees there isn’t fees to do with really buying and selling fine so commission fees are free however there are a number of other fees the first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling 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 understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those alternatives 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 largely it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really giving 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 provide me us dollars rather you need to pay their charges now the fantastic thing about though when you’ve converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase 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 utilizing that part of their site will not definitely limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Michael J. Saylor Net Worth.
You are offered lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this may be exactly what you require.