Not in fact having the total of capital…Michael Saylor Cardano… so with anything that you’re finding out about please do study the platform do not just presume since 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 cash they consider that choice also so you actually get utilized to the structure of the site 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 particular video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually stated they have actually made earnings 14 months in a row buy these options since you think is the ideal ones for you and that being said let’s dive straight 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 element that is most likely.
popular for it’s the alternative to see what other traders are doing incredible we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can actually say i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their financial 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 fees included truly vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are genuine business 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 charge websites then may not charge you for in fact buying and selling funds or etfs private commodities private stocks.
there’ll be fees on other parts maybe 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 show you the costs with in particular in this video the next would be things to know prior to you really start buying copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually crucial to comprehend these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are free nevertheless there are a number of other charges the very first one is withdrawal fees so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you sell 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say fine 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 charges are just one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you know depends totally how you’re investing however that is a cost to remember the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying 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 free trade anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion charge is there what are they really giving you in terms of 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 say provide me us dollars instead you have to pay their charges now the fantastic aspect of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies 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 charges so that’s actually good utilizing that part of their site won’t certainly restrict you in any way however we have to know 2 other costs the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Cardano.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this might be exactly what you require.