Not really having the full amount of capital…Michael Saylor Worth… so with anything that you’re learning about please do study the platform don’t simply assume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that option too so you really get utilized to the structure of the website and after that when you’re ready to utilize 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 companies if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has stated they have actually made revenue 14 months in a row purchase these choices due to the fact that you think is the right 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’s 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 do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i wish to do precisely what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that implies if for example 10 of their 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 involved truly critical you understand what are the costs 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 involved and even some of the zero fee sites then may not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 really begin buying copy trading or copy portfolios and finally some best recommendations finest 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 charges truly essential to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission fees are free however there are a couple of other charges the first one is withdrawal costs so you can undoubtedly 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 on however when you want 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say alright that’s quite pricey 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 just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal 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 cost now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving 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 give me us dollars rather you need to pay their costs now the excellent thing about however when you’ve transformed your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent using that part of their website won’t certainly restrict you in any way however we need to understand two other costs the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread fee as i’m going to reveal you Michael Saylor Worth.
You are offered lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to select, then this may be exactly what you need.