Not actually having the total of capital…Michael Saylor Tucker Carlson… so with anything that you’re finding out about please do study the platform do not just presume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you in fact get used to the structure of the site and then when you’re ready to use your own cash 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 buying genuine companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row purchase these options due to the fact that you believe is the best 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 option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically every time 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 financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no cost sites then may not charge you for really buying and selling funds or etfs specific commodities 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 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 before you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly essential to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission charges are totally free nevertheless there are a number of other charges the very first one is withdrawal costs so you can certainly put money 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 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state alright that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace 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 mostly it can be maybe even once a year once every six months you understand depends entirely how you’re investing but that is a fee to bear in mind the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anybody this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 state provide me us dollars rather you need to pay their fees now the terrific thing about however when you have actually transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money 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 takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s actually excellent utilizing that part of their site will not certainly limit you in any way however we have to be aware of 2 other charges the first being what’s called spread charges fine and i’m going to show you what i mean on now a spread fee as i’m going to show you Michael Saylor Tucker Carlson.
You are provided many 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 don’t know which system to pick, then this may be precisely what you require.