Not in fact having the total of capital…Michael Saylor History… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative as well so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you pick 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 since that person has said they have actually made revenue 14 months in a row buy these choices since you think is the ideal ones for you which being said 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 element that is most likely.
famous for it’s the choice to see what other traders are doing amazing 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 suggests with our money we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included actually vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine 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 absolutely no fee websites then might not charge you for in fact buying and selling etfs or funds specific products individual stocks.
there’ll be charges on other parts perhaps 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 show you the costs with in particular in this video the next would be things to know before you actually begin purchasing copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission charges are totally free however there are a number of other charges the first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you sell 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 obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely need to now you may say alright that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those choices that they have a lot of platforms obviously are totally 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 understand depends completely how you’re investing but that is a cost to keep in mind the second fee that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway 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 fee now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 say give me us dollars rather you need to pay their costs now the great aspect of though when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that takes place 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 certainly limit you in any way however we need to be aware of 2 other charges the first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you Michael Saylor History.
You are offered lots of options 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 know which system to select, then this may be exactly what you need.