Not really having the full amount of capital…Michael Saylor Live… so with anything that you’re discovering please do study the platform do not just presume 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 give that option also so you actually get utilized to the structure of the website and after that when you’re ready to use 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 purchasing real companies if you choose to in this particular video we’re discussing 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 just do something because that individual has stated they’ve made revenue 14 months in a row purchase these options since 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.
popular for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your money will be imitated 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 really important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly 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 no fee sites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs on other parts possibly 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 reveal you the fees with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling fine so commission charges are totally free nevertheless there are a number of other charges the very first one is withdrawal charges so you can clearly put money 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 want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum amount 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 just withdrawing when i absolutely need to now you might state alright 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 fees are simply one of those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing but that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost 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 lot of my stocks are us dollar stocks anyhow 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 use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state offer me us dollars instead you have to pay their costs now the great thing about however when you’ve transformed your cash you do not need 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 purchase 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 truly good using that part of their site won’t certainly limit you in any way nevertheless we have to know two other fees the first being what’s called spread charges 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 Live.
You are given numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this might be exactly what you need.