Not really having the full amount of capital…Michael Saylor On Xrp… so with anything that you’re learning about please do study the platform don’t simply assume because i utilize 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 choice as well so you in fact get utilized to the structure of the website 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 buying genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they’ve made earnings 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive directly 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’s part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some cost to clearly these are real 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 no cost sites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type 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 understand before you actually begin investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees really crucial to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a couple of other costs the very first one is withdrawal costs so you can certainly 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 in the future however when you wish to withdraw your money so you sell your shares you sell your commodities 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 of course knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those options that they have a great deal of platforms undoubtedly 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 six months you understand depends completely how you’re investing but that is a charge to keep in mind the second fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you sort 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 offering 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 give me us dollars instead you have to pay their costs now the excellent feature of however when you have actually converted your money you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means 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 additional charges so that’s really good using that part of their website won’t definitely limit you in any way nevertheless we need to understand 2 other charges the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you Michael Saylor On Xrp.
You are provided lots of choices with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this may be exactly what you need.