Not really having the total of capital…Michael Saylor Net Worth Forbes… so with anything that you’re finding out about please do study the platform don’t simply presume 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 option too so you in fact get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row invest in these choices because you believe is the best ones for you which being said let’s dive directly 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 probably.
famous for it’s the option to see what other traders are doing incredible 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 suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for example 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 also cover is the costs included really critical you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost websites then may not charge you for in fact buying and selling etfs or funds individual commodities individual stocks.
there’ll be fees on other parts maybe 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 reveal you the fees with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges really crucial to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission costs are free however there are a couple of other charges the very first one is withdrawal charges so you can clearly put money in now if you’re 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 however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering 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 knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you understand depends entirely how you’re investing but that is a cost to remember the 2nd charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’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 charge now when you utilize anybody so if you’re utilizing trading two and 2 free trade 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 wish to use their platform go from uk to us then that conversion fee is there what are they really giving 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 state provide me us dollars rather you need to pay their fees now the terrific aspect of however when you’ve converted your money 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 transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great using that part of their site won’t certainly limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread costs okay 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 Forbes.
You are given lots of choices with this software 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 pick, then this may be precisely what you require.