Not in fact having the full amount of capital…Michael Saylor Podcast… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative too so you actually get utilized 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not just do something because that individual has actually stated they’ve made profit 14 months in a row purchase these choices due to the fact that you think is the best ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally 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 money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies 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 also cover is the costs involved truly vital 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 some of the zero charge sites then may not charge you for actually buying and selling funds or etfs individual commodities 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 kinds of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly important to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a couple of other charges the first one is withdrawal charges so you can certainly put money in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer your shares you offer 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 obviously understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those alternatives that they have a great deal 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 maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a fee to remember the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow 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 charge now when you use anyone so if you’re utilizing trading two and two open market anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost is there what are they actually offering you in terms of 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 say offer me us dollars instead you need to pay their costs now the terrific aspect of though when you’ve transformed your cash you do not have to invest it immediately that dollar value 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 additional costs so that’s actually excellent using that part of their website won’t certainly limit you in any way however we need to understand two other costs the very first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Podcast.
You are offered numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be exactly what you require.