Not really having the total of capital…Michael Saylor Mortgage… so with anything that you’re discovering please do study the platform do not simply presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made revenue 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your money will be simulated with it so that implies if for example 10 of their 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 important you understand what are the expenses 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 some of the zero cost sites then might not charge you for actually buying and selling funds or etfs private commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 really begin buying copy trading or copy portfolios and finally some finest 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 begin with charges really essential to comprehend these now on there’s a number of charges there isn’t charges to do with in fact buying and selling okay so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately 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 products 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may say okay that’s rather pricey 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 one of those choices that they have a lot of platforms obviously 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 once every six months you know depends completely how you’re investing however that is a fee to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading 2 and two free trade anybody this is basic they have actually i suppose stuck with whatever cost 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 fee is there what are they really offering 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 offer me us dollars instead you need to pay their fees now the fantastic feature of though when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 costs so that’s actually great using that part of their site will not certainly restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Mortgage.
You are offered numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t understand which system to pick, then this might be exactly what you require.