Not actually having the full amount of capital…Michael Saylor Collateral… so with anything that you’re learning more about please do study the platform don’t just assume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you actually get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they’ve made earnings 14 months in a row invest in these choices since you believe is the ideal ones for you and that being said let’s dive straight in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of options and basically every time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial 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 fees involved really critical you understand 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 purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee sites then might not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be costs 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 costs with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees truly essential to comprehend these now on there’s a couple of fees there isn’t costs to do with really buying and selling alright so commission charges are free however there are a number of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash 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 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every 6 months you know depends completely how you’re investing however that is a cost to remember the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that suits 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 excellent with that we have what’s called the fx currency conversion cost 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 type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they in fact offering 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 state provide me us dollars instead you have to pay their fees now the great feature of though when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 additional fees so that’s really good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Collateral.
You are provided lots of options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this may be precisely what you require.