Not actually having the full amount of capital…Michael Saylor Tech Bubble… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you really get utilized to the structure of the website 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 threat this is investing we’re doing you’re buying genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row invest in these options due to the fact that you believe 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 becomes part of social trading which is one element that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates if for example 10 of their financial 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 charges included truly critical you understand what are the expenses of this now with any platform there will be some expense to obviously these are real companies 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 cost sites then may not charge you for really buying and selling funds or etfs private products specific stocks.
there’ll be costs 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 show you the fees with in particular in this video the next would be things to understand before you in fact start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s start with fees truly crucial to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling fine so commission costs are totally free nevertheless there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say fine that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just one of those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the second cost that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’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 great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading 2 and two free trade anybody this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost 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 bargain with them you can’t go to the bank and say provide me us dollars instead you have to pay their costs now the great thing about however when you’ve converted your money 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 purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Michael Saylor Tech Bubble.
You are provided numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to pick, then this might be precisely what you need.