Not in fact having the full amount of capital…Michael Saylor Net Worth 2021… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually 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 obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the right 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 element that is most likely.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that suggests if for example 10 of their financial investment portfolio is 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 truly crucial you comprehend what are the costs of this now with any platform there will be some cost to clearly these are real 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 zero cost websites then may not charge you for actually buying and selling etfs or funds specific commodities private 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 sort of charges 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 in fact begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about 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 number of fees there isn’t costs to do with really buying and selling okay so commission costs are free however there are a couple of other fees the very first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk cash.
and it’s automatically 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 selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you might say fine that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those choices that they have a lot of platforms clearly 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 once every 6 months you understand depends completely how you’re investing but that is a fee to remember the 2nd fee that i’ve discussed is that conversion charge now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good 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 two free trade anybody this is basic they have actually i expect stuck with 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 fee exists what are they in fact providing you in regards to 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 say offer me us dollars instead you need to pay their costs now the fantastic thing about though when you have actually converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 additional charges so that’s really excellent using that part of their website will not certainly limit you in any way however we have to know two other costs the first being what’s called spread fees all right and i’m going to show you what i mean on now a spread cost as i’m going to show you Michael Saylor Net Worth 2021.
You are offered many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be precisely what you need.