Not in fact having the full amount of capital…Michael Saylor Twitter Account… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that option as well so you really get utilized to the structure of the website and after that when you’re ready to use 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 purchasing genuine business if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that individual has said they have actually made profit 14 months in a row purchase these choices because you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really crucial you comprehend what are the expenses of this now with any platform there will be some cost to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost websites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 know prior to you actually begin investing in copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees really essential to understand these now on there’s a couple of charges there isn’t fees to do with really buying and selling okay so commission fees are free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell your shares you sell your products whatever you’re offering the minimum quantity 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 certain that i’m only withdrawing when i absolutely need to now you might state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s great that fits me.
a lot 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 cost now when you utilize anybody so if you’re utilizing trading two and two open market anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists 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 state provide me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually transformed your money you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their site won’t certainly restrict you in any way nevertheless we have to understand 2 other costs the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Michael Saylor Twitter Account.
You are provided many alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be exactly what you need.