Not in fact having the full amount of capital…Michael Saylor Net Worth… so with anything that you’re finding out about please do study the platform don’t simply presume because i utilize it that you can utilize it right now 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 site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually stated they’ve made profit 14 months in a row purchase these choices because you believe is the ideal ones for you which being said let’s dive straight in [Music] so the important 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 aspect that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees involved really important you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs individual products private stocks.
there’ll be charges 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 charges with in particular in this video the next would be things to know prior to you really start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs truly important to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling alright so commission costs are free nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly 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 but when you want to withdraw your cash so you sell 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 five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just among those alternatives that they have a lot of platforms obviously 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 6 months you understand depends completely how you’re investing however that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 using trading 2 and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever fee 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 charge exists what are they actually 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 state offer me us dollars rather you have to pay their costs now the excellent thing about however when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert 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 really excellent utilizing that part of their website won’t definitely limit you in any way however we need to know 2 other charges the very 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 reveal you Michael Saylor Net Worth.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this might be exactly what you need.