Not really having the total of capital…Michael Saylor Vitalik… so with anything that you’re learning more about please do study the platform do not just assume since i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they’ve made profit 14 months in a row purchase these choices because you think is the right ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing incredible we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your money 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 cash in so we’re going to also cover is the costs included actually vital you comprehend what are the expenses of this now with any platform there will be some cost to clearly 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 some of the zero charge websites then might not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 actually begin buying copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees truly crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling all right so commission fees are free however there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain 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 wish to withdraw your cash so you offer 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i definitely require to now you may say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to remember the 2nd fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 state provide me us dollars instead you have to pay their charges now the terrific thing about however when you’ve converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 good using that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other fees the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Vitalik.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to select, then this might be exactly what you need.