Not in fact having the total of capital…Michael Saylor Debate… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the best 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable 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 means with our cash we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase 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 likewise cover is the charges included truly vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly 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 a few of the zero fee sites then might not charge you for actually buying and selling etfs or funds individual 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 sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees really crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling alright so commission fees are free however there are a couple of other costs the very first one is withdrawal costs so you can clearly put money in now if you remain 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 on however when you wish to withdraw your money so you offer your shares you offer your commodities 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 of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say okay that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a charge to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a lot 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 fee now when you use anyone so if you’re using trading two and two free trade anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge exists what are they really offering you in terms of 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 offer me us dollars rather you need to pay their charges now the excellent aspect of though when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert 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 great using that part of their site won’t certainly restrict you in any way however we need to know 2 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 fee as i’m going to reveal you Michael Saylor Debate.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to pick, then this might be precisely what you need.