Not in fact having the total of capital…Michael Saylor Mcdonalds… so with anything that you’re discovering please do study the platform do not just presume because i utilize 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 as well so you actually get used 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 real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so obviously your capital is at threat and we need to bear that in mind do not simply do something because that person has said they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the best ones for you and that being stated let’s dive straight 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 belongs to social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that suggests if for instance 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 involved actually critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then might not charge you for in fact buying and selling etfs or funds specific 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 charges 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 know before you really start buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s start with fees actually crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling alright so commission charges are complimentary however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you offer your shares you sell your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say alright that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are just one of those options 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 six months you know depends totally how you’re investing but that is a cost to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase 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 buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they actually 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 instead you have to pay their charges now the excellent thing about though when you have actually converted your cash you do not have to invest it right away that dollar value can being 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their website will not definitely limit you in any way however we have to know two other costs the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Mcdonalds.
You are offered 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 understand which system to choose, then this might be precisely what you need.