Not actually having the full amount of capital…Michael Saylor Xrp… so with anything that you’re finding out about please do study the platform do not simply assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at risk and we need to bear that in mind do not simply do something because that person has actually stated they have actually made profit 14 months in a row buy these options because you think is the best ones for you and that being stated let’s dive straight in [Music] so 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 probably.
famous for it’s the option to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they offer whatever they do your money will be simulated with it so that implies 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 actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly 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 a few of the zero cost websites then may not charge you for in fact buying and selling etfs or funds private products individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know before you really start purchasing copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges actually essential to understand these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you might say fine 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 somewhere and withdrawal costs are just among those alternatives that they have a great deal of platforms clearly are free 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 know depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and 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 two and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you kind 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 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 instead you need to pay their charges now the excellent aspect of however when you’ve converted your money you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their site will not certainly restrict you in any way nevertheless we need to be aware of two other costs the first being what’s called spread fees alright and i’m going to show you what i mean on now a spread fee as i’m going to show you Michael Saylor Xrp.
You are given numerous choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t know which system to select, then this might be precisely what you need.