Not in fact having the full amount of capital…Michael Saylor Jack Dorsey… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i utilize 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 alternative as well so you actually 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 obviously your capital is at risk this is investing we’re doing you’re investing in real business if you choose to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has stated they have actually made revenue 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you and that 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact 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 cash will be imitated with it so that suggests 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 also cover is the costs included really critical you comprehend what are the costs 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 some of the absolutely no charge sites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission fees are totally free nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s automatically 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 offer your shares you sell 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state okay that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that matches 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 using trading 2 and two free trade anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists what are they really providing 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 say offer me us dollars instead you need to pay their charges now the terrific thing about however when you have actually transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site will not certainly restrict you in any way however we have to know 2 other charges the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Jack Dorsey.
You are provided many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to pick, then this may be exactly what you need.