Not really having the total of capital…Michael Saylor Today… so with anything that you’re discovering please do study the platform don’t simply presume 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 cash they consider that alternative as well so you really get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually said they have actually made profit 14 months in a row purchase these choices due to the fact that you think is the right 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates if for instance 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 also cover is the fees included really vital you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 no charge sites then may not charge you for in fact buying and selling etfs or funds individual products individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 understand prior to you really begin investing in copy trading or copy portfolios and finally some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with charges actually essential to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission charges are totally free however there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly put cash in now if you’re 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 in the future but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you might say all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs 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 mostly it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing however 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 just there’s not a choice to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need 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 giving 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 offer me us dollars instead you need to pay their fees now the terrific aspect of however when you’ve transformed your money you do not have to invest it immediately 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of two other costs the first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Michael Saylor Today.
You are offered lots of alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not know which system to select, then this may be precisely what you need.