Not really having the total of capital…Michael Saylor Academy… so with anything that you’re discovering please do study the platform don’t just presume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row buy these choices due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] 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 element that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your money will be simulated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included truly important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling alright so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal costs so you can certainly put cash in now if you remain 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 sell your shares you sell 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 ensure that i’m only withdrawing when i definitely require to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just among 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 mainly it can be perhaps even once a year once every 6 months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits 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 use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact giving 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 offer me us dollars instead you have to pay their costs now the excellent aspect of however when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their site will not definitely limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread fees okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Michael Saylor Academy.
You are provided lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this might be exactly what you need.