Not in fact having the total of capital…Michael Saylor Inflation… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative as well so you really get used to the structure of the site and after that 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 pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that person has actually said they have actually made earnings 14 months in a row purchase these options since you believe is the right ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for example 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 likewise cover is the fees involved actually critical you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine companies 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 cost sites then may not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be costs 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 reveal you the charges with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and finally some best guidance finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges actually essential to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling alright so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal charges 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 in the future but when you want 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 five dollars per withdrawal so for me of course knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends totally how you’re investing however that is a cost to keep in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge 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 state offer me us dollars instead you need to pay their fees now the great aspect of though when you’ve converted your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site will not definitely limit you in any way however we have to know 2 other charges the very first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Inflation.
You are provided many choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be precisely what you require.