Not actually having the total of capital…Michael Saylor Company… so with anything that you’re learning more about please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you really get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they’ve made profit 14 months in a row invest in these options due to the fact that you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates 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 likewise cover is the charges involved actually critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero charge sites then may not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 prior to you in fact start investing in copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with charges truly essential to comprehend these now on there’s a couple of fees there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a number of other charges the very first one is withdrawal fees so you can clearly 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 in the future but when you want 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s fine 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 good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge 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 rather you have to pay their charges now the excellent aspect of though when you have actually transformed your money you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the initial 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 really great utilizing that part of their website won’t definitely limit you in any way however we have to be aware of 2 other charges the very first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor Company.
You are given lots of choices with this software 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 might be precisely what you require.