Not really having the total of capital…Michael Saylor News… so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your money so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated 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 likewise cover is the charges included really critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 no fee websites then might not charge you for actually buying and selling etfs or funds specific products private 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 type of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really important to comprehend these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission charges are complimentary however there are a number of other charges the very first one is withdrawal fees so you can clearly put money in now if you remain 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 on however when you wish to withdraw your money 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state alright that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just one of those choices that they have a lot of platforms clearly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd fee that i’ve discussed is that conversion charge 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 lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is basic they have i expect stuck with whatever charge 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 in fact giving 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 give me us dollars instead you need to pay their costs now the excellent aspect of though when you have actually transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies 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 costs so that’s actually great using that part of their site will not definitely restrict you in any way nevertheless we need to understand two other charges the first being what’s called spread costs alright and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Michael Saylor News.
You are given numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this might be exactly what you need.