Not in fact having the total of capital…Michael Saylor Investments… so with anything that you’re discovering 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 play around with it even invest with virtual cash they consider that alternative as well so you actually get utilized to the structure of the site 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 danger this is investing we’re doing you’re investing in genuine companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that individual has said they have actually made earnings 14 months in a row purchase these options because you believe is the right ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is understanding 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 generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means 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 crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are real business 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 cost websites then may not charge you for actually buying and selling funds or etfs individual commodities individual 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 show you the charges with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with fees really essential to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission costs are totally free however there are a couple of other charges the first one is withdrawal fees so you can obviously put money in now if you’re 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 cash so you sell your shares you sell your commodities whatever you’re offering 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 certain that i’m only withdrawing when i absolutely require to now you might state alright that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply among those choices that they have a great deal of platforms clearly are complimentary 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 once every 6 months you know depends completely how you’re investing however that is a fee to remember the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only 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 anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they actually offering 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 say provide me us dollars instead you need to pay their fees now the great feature of though when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform 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 really excellent utilizing that part of their site won’t certainly limit you in any way however we have to understand 2 other costs the first being what’s called spread fees 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 Investments.
You are offered many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to choose, then this may be exactly what you require.