Not actually having the full amount of capital…Michael Saylor Vs Frank Giustra… so with anything that you’re learning about please do study the platform don’t just assume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you actually get utilized 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 risk this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re discussing how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row buy these options because you believe is the best ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the choice to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests 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 likewise cover is the charges involved truly crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds private commodities individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 in fact begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission costs are free however there are a number of other costs the very first one is withdrawal fees so you can clearly put cash 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 in the future however when you wish to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount 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 just withdrawing when i absolutely require to now you might state all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are just among those options that they have a lot of platforms undoubtedly are totally free 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 once every 6 months you know depends completely how you’re investing however that is a fee to keep in mind the second charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 give me us dollars rather you need to pay their costs now the fantastic thing about however when you have actually converted your money you do not need to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent utilizing that part of their site won’t certainly limit you in any way however we have to know 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Vs Frank Giustra.
You are provided numerous options with this software application 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 pick, then this might be exactly what you need.