Not actually having the total of capital…Michael Saylor Digital Energy… 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 use it right away do some due diligence have a little play around with it even invest with virtual money they give that option also so you in fact get utilized to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that person has stated they’ve made earnings 14 months in a row invest in these options because you believe is the best ones for you and that being said let’s dive directly 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that implies if for example 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 also cover is the fees included truly critical you understand what are the expenses of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee websites then may not charge you for actually buying and selling etfs or funds individual products individual 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 reveal you the costs with in particular in this video the next would be things to know prior to you in fact begin investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with charges truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may state alright 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 somewhere and withdrawal costs are just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends completely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase 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 purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact offering 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 state offer me us dollars rather you have to pay their costs now the excellent thing about though when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great using that part of their website will not certainly limit you in any way however we need to know 2 other costs the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Digital Energy.
You are offered many choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you require.