Not really having the full amount of capital…Michael Saylor Net Worth 2020… so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option also so you in fact get utilized to the structure of the site and then 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 investing in genuine business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 14 months in a row invest in these options because you think is the best ones for you and that being said 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 probably.
popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for example 10 of their financial 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 involved truly critical you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you actually start buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can certainly put cash 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 cash so you offer your shares you sell your products whatever you’re offering the minimum amount 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 ensure that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends entirely how you’re investing but that is a charge to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and two open market anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually giving 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 feature of however when you have actually transformed your money you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good using that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Net Worth 2020.
You are offered many choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be exactly what you require.