Not in fact having the full amount of capital…Michael Saylor Daughter… so with anything that you’re finding out about please do study the platform don’t just presume because i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact 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 obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row buy these choices because you think is the right ones for you and that being said 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of options and basically every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that means 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 costs involved really important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies 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 cost websites then might not charge you for really buying and selling etfs or funds private commodities specific 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 type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you actually begin buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges really crucial to comprehend these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission charges are totally free however there are a couple of other charges the very first one is withdrawal fees so you can undoubtedly 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 but when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those choices that they have a great deal of platforms obviously are free 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 as soon as every 6 months you know depends totally how you’re investing however that is a fee to keep in mind the second fee that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading 2 and two open market anyone at all this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they really offering 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 fees now the fantastic thing about however when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 truly excellent utilizing that part of their site will not definitely restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread costs all right and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Daughter.
You are provided numerous 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 understand which system to select, then this might be exactly what you require.