Not really having the full amount of capital…Michael Saylor And Elon Musk… so with anything that you’re finding out about 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 money they consider that alternative as well so you actually get used to the structure of the website 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 investing in genuine companies if you select to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row buy these choices because you think is the ideal 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.
well-known for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 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 also cover is the fees included truly vital you understand what are the costs of this now with any platform there will be some expense to certainly 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 cost websites then may not charge you for really buying and selling etfs or funds specific products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs 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 understand prior to you really start buying copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s begin with charges actually important to understand 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 complimentary however there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly 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 in the future but when you want to withdraw your money so you sell your shares you offer your products whatever you’re selling the minimum quantity 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 make sure that i’m just withdrawing when i definitely require to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply one of those options that they have a lot of platforms undoubtedly 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 six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy 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 buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort 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 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 state give me us dollars rather you need to pay their costs now the fantastic thing about though when you have actually transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent using that part of their site will not definitely restrict you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor And Elon Musk.
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 don’t understand which system to select, then this might be exactly what you need.