Not really having the total of capital…Michael Saylor Twitter Deleted… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk 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 people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row invest in these options since you think is the right ones for you which 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 becomes part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can actually state i wish to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means 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 also cover is the costs included really critical you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the no cost websites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some finest guidance finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs actually important to understand these now on there’s a couple of costs there isn’t fees to do with really buying and selling alright so commission fees are free however there are a number of other costs the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends completely how you’re investing however that is a cost to keep in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they in fact giving 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 say offer me us dollars rather you have to pay their charges now the great thing about though when you have actually converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly great utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees all right and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Twitter Deleted.
You are offered lots of options with this software application 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 pick, then this may be precisely what you need.