Not in fact having the full amount of capital…Michael Saylor Iq… so with anything that you’re learning more about please do study the platform don’t simply 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 cash they give that alternative also so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made profit 14 months in a row buy these choices due to the fact that you think is the right ones for you which being said let’s dive straight in [Music] so the important 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.
popular for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their 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 charges included really critical you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero charge sites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 investing in copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges really crucial to comprehend these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling fine so commission fees are free however there are a couple of other costs the first one is withdrawal charges so you can clearly put cash 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 later but when you want to withdraw your money so you offer your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state all right that’s rather pricey 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 among those options that they have a lot of platforms obviously are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you know depends completely how you’re investing but that is a charge to remember the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent 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 anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they in fact offering you in regards to 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 give me us dollars rather you have to pay their costs now the fantastic aspect of however when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy 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 actually excellent using that part of their site won’t definitely restrict you in any way however we need to understand two other costs the first being what’s called spread costs alright and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Iq.
You are offered lots of options with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but do not understand which system to choose, then this may be exactly what you require.