Not actually having the total of capital…Michael Saylor Salary… so with anything that you’re learning more about please do study the platform don’t simply presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually 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 obviously your capital is at danger this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row purchase these choices since you believe is the best ones for you which being stated let’s dive straight in [Music] 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.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that implies if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved truly important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine 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 charge sites then may not charge you for actually buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 before you really start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling alright so commission charges are free nevertheless there are a number of other costs the very first one is withdrawal charges so you can clearly put money in now if you’re 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 want to withdraw your money so you offer 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 five dollars per withdrawal so for me naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state okay that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those choices that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends completely how you’re investing but that is a charge to bear in mind the 2nd fee that i’ve discussed 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 fine that fits me.
a lot of my stocks are us dollar stocks anyway 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 use anybody so if you’re using trading two and two open market anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they actually 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 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 have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s truly great using that part of their site will not definitely limit you in any way nevertheless we have to understand two other costs the very first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Michael Saylor Salary.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this might be precisely what you require.