Not actually having the full amount of capital…Michael Saylor Yahoo Finance… so with anything that you’re learning about please do study the platform don’t simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you in fact get utilized to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that individual has said they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
well-known for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that indicates 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 likewise cover is the fees involved actually critical you understand what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with charges truly essential to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling alright so commission fees are free nevertheless there are a number of other fees the very first one is withdrawal costs so you can clearly put cash in now if you remain 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 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 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say alright that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those alternatives that they have a great deal 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 perhaps even once a year when every 6 months you understand depends entirely how you’re investing however that is a fee to remember the second charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that suits 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 charge now when you utilize anybody so if you’re using trading two and two open market anybody this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there 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 bargain with them you can’t go to the bank and say offer me us dollars rather you have to pay their costs now the great feature of however when you’ve transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent utilizing that part of their website will not certainly restrict you in any way however we have to know 2 other fees the first being what’s called spread costs alright and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Yahoo Finance.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t understand which system to select, then this may be exactly what you require.