Not in fact having the total of capital…Michael Saylor School… so with anything that you’re finding out about please do study the platform don’t just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something because that person has said they have actually made profit 14 months in a row purchase these choices due to the fact that you believe is the ideal ones for you and that being stated let’s dive straight in [Music] The 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 alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for example 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 likewise cover is the charges included truly important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing 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 fees with in particular in this video the next would be things to know prior to you in fact begin purchasing copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly important to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling okay so commission charges are complimentary nevertheless there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s automatically 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 sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to remember the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really providing 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 state provide me us dollars instead you need to pay their costs now the excellent aspect of though when you have actually transformed your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their website will not definitely restrict you in any way however we need to know 2 other costs the first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor School.
You are offered many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be precisely what you require.