Not really having the full amount of capital…Michael Saylor Face… so with anything that you’re learning more about please do study the platform don’t simply assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get utilized to the structure of the site 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 real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has said they’ve made profit 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 directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included really crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for actually buying and selling funds or etfs individual products specific stocks.
there’ll be charges on other parts possibly 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 charges with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually crucial to understand these now on there’s a number of costs there isn’t charges to do with really buying and selling alright so commission costs are complimentary nevertheless there are a number of other charges the very first one is withdrawal fees so you can certainly 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 later however when you want 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 of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are simply among those choices that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to buy in euros or uk and that’s fine that suits 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 excellent with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually 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 say offer me us dollars instead you have to pay their charges now the fantastic thing about though when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money 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 charges so that’s actually good using that part of their site won’t certainly restrict you in any way nevertheless we need to know two other charges the very first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Face.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be exactly what you need.