Not in fact having the total of capital…Michael Saylor Jackson Ohio… so with anything that you’re discovering please do study the platform do not just assume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something because that person has actually stated they have actually made revenue 14 months in a row purchase these choices because 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.
famous for it’s the choice to see what other traders are doing amazing we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked 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 money in so we’re going to likewise cover is the fees involved really important you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost sites then might not charge you for really buying and selling funds or etfs specific products private 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 type of costs 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 before you in fact start buying copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually crucial to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling okay so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain 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 later on however when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say all right 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 fees are just among those choices that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd fee that i have actually discussed is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they actually giving 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 say offer me us dollars instead you need to pay their charges now the great feature of however when you have actually transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to understand two other charges the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Jackson Ohio.
You are given numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to select, then this may be precisely what you require.