Not in fact having the total of capital…Michael Saylor On Twitter… so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row buy these choices since you think is the right ones for you and that being stated let’s dive directly in [Music] so the 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 most likely.
well-known 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 advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that means 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 fees involved really crucial you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee sites then might not charge you for in fact buying and selling etfs or funds specific products 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 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 actually begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put money in now if you’re 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 wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity 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 make sure that i’m just withdrawing when i absolutely need to now you might say okay that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those options 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 mostly it can be maybe even once a year when every six months you know depends completely how you’re investing however that is a fee to bear in mind the second fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you understand if you want 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 provide me us dollars instead you have to pay their charges now the terrific thing about however when you’ve transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase 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 truly great using that part of their site won’t definitely limit you in any way however we have to understand two other costs the first being what’s called spread fees all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Michael Saylor On Twitter.
You are given lots of choices with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this may be precisely what you need.