Not actually having the total of capital…Michael Saylor Partner… so with anything that you’re learning more about please do study the platform do not just presume because i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice also so you really get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in real business if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so obviously 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 purchase these choices because you believe is the best ones for you and that being said let’s dive straight 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 probably.
popular for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore 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 buy they offer whatever they do your money will be simulated with it so that indicates if for example 10 of their 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 included really crucial you comprehend 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 involved and even a few of the zero fee websites then might not charge you for actually buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 understand prior to you in fact start buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with charges truly important to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling alright so commission costs are complimentary however there are a number of other charges the first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you offer 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 understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends entirely how you’re investing but that is a cost to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they really offering 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 offer me us dollars rather you need to pay their fees now the fantastic thing about though when you have actually converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash 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 happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to be aware of 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 fee as i’m going to show you Michael Saylor Partner.
You are given many alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to select, then this may be exactly what you need.