Not actually having the total of capital…Michael Saylor Medical Condition… so with anything that you’re learning more about please do study the platform don’t just presume 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 money they consider that alternative as well so you actually get used to the structure of the website and then 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 buying genuine companies if you choose to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row invest in these choices because you think is the ideal ones for you which being stated let’s dive directly in [Music] so the 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 most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary 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 means with our cash we can in fact state i want to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee websites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 before you really begin investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with charges really crucial to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission fees are totally free however there are a number of other costs the first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity 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 make certain that i’m only withdrawing when i definitely need to now you might say okay that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those choices that they have a lot of platforms clearly are complimentary to do such things has this 5 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 know depends entirely how you’re investing but that is a cost to bear in mind the second fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk and that’s great 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 charge now when you use anybody so if you’re using trading two and two open market anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there 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 bargain with them you can’t go to the bank and say give me us dollars rather you have to pay their costs now the excellent thing about though when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial 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 utilizing that part of their site will not certainly restrict you in any way nevertheless 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 imply on now a spread cost as i’m going to show you Michael Saylor Medical Condition.
You are provided lots of alternatives with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this might be precisely what you need.