Not really having the total of capital…Michael Saylor Gold… so with anything that you’re finding out about please do study the platform do not simply 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 cash they consider that choice too so you really get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually said they’ve made revenue 14 months in a row purchase these options since you think is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing amazing 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 means with our cash we can actually state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included actually critical you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 understand before you in fact begin buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges truly essential to understand these now on there’s a couple of fees there isn’t charges to do with in fact buying and selling alright so commission charges are totally free however there are a number of other charges the first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your commodities 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply one of those options 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 maybe even once a year once every six months you know depends entirely how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 great aspect of however when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their website will not certainly limit you in any way nevertheless we have to know 2 other costs the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Gold.
You are given many options 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 understand which system to choose, then this may be exactly what you need.