Not actually having the full amount of capital…Michael Saylor Kekayaan… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you in fact get utilized to the structure of the site and after that when you’re ready to use your own cash 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 buying real business if you choose to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at threat and we have to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row buy these choices due to the fact that you believe is the right ones for you and that being stated let’s dive directly in [Music] so the important 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really say i wish to do exactly what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests 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 costs included actually critical you understand what are the costs of this now with any platform there will be some expense to clearly these are real 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 absolutely no charge sites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 really start purchasing copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs really essential to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling okay so commission charges are free nevertheless there are a number of other costs the first one is withdrawal charges 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 however when you wish to withdraw your cash so you sell 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 of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might say fine that’s rather expensive 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 just among those options that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends completely how you’re investing however that is a charge to keep in mind the second charge 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 fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two open market anybody this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 state provide me us dollars rather you have to pay their costs now the terrific feature of though when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase 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 truly good using that part of their site won’t certainly restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Michael Saylor Kekayaan.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this might be exactly what you require.