Not actually having the total of capital…Michael Saylor Annapolis… so with anything that you’re learning more about please do study the platform do not just presume 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 give that alternative too so you actually get utilized to the structure of the website and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually stated they have actually made profit 14 months in a row invest in these options because you think is the right ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly important you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero charge websites then may not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with fees actually important to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission costs are free however there are a number of other costs the first one is withdrawal charges so you can certainly put money 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 however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely 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 somewhere and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends totally how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact providing 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 give me us dollars instead you have to pay their charges now the terrific aspect of however when you’ve transformed your cash you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand two other charges the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to show you Michael Saylor Annapolis.
You are given lots of choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this may be exactly what you need.