Not actually having the full amount of capital…Michael Saylor Instagram… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other people’s financial 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 individual has said they’ve made revenue 14 months in a row invest in these choices due to the fact that you believe is the right ones for you and that 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 probably.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for example 10 of their financial investment portfolio remains 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 really critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the no cost websites then may not charge you for in fact buying and selling etfs or funds private 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 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 prior to you actually begin buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs actually important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission fees are complimentary however there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put money 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 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 understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may state fine that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends totally how you’re investing but that is a cost to bear in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually providing 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 state give me us dollars rather you have to pay their fees now the fantastic feature of however when you’ve converted your money you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great using that part of their site will not definitely restrict you in any way nevertheless we need to know 2 other charges the first being what’s called spread charges alright and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Instagram.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however do not understand which system to pick, then this may be exactly what you require.