Not actually having the total of capital…Michael Saylor Fortune… so with anything that you’re learning about please do study the platform don’t just presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get used 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 naturally your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row invest in these options because you believe is the ideal ones for you which being stated let’s dive straight 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 aspect that is most likely.
popular for it’s the choice to see what other traders are doing incredible we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for instance 10 of their 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 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 genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then might not charge you for really buying and selling funds or etfs specific commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand prior to you in fact begin purchasing copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually important to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary however there are a number of other fees the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
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 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 5 dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require 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 costs somewhere and withdrawal charges are just one of those options that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every six months you understand depends completely how you’re investing but that is a fee to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent 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 2 open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they in fact offering you in regards to 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 give me us dollars rather you have to pay their costs now the great feature of however when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly excellent utilizing that part of their website will not definitely limit you in any way however we need to be aware of 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Michael Saylor Fortune.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be exactly what you need.