Not in fact having the full amount of capital…Michael Saylor Youtube Today… so with anything that you’re learning more about please do study the platform do not simply presume due to the fact that 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 also so you in fact 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 real business if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at danger and we need to bear that in mind do not simply do something since that individual has said they have actually made profit 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which being said let’s dive directly 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really vital you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no cost websites then may not charge you for actually buying and selling etfs or funds individual products 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 costs 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 understand prior to you actually begin buying copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually essential to understand these now on there’s a number of charges there isn’t costs to do with in fact buying and selling okay so commission costs are totally free however there are a number of other fees the very first one is withdrawal fees so you can undoubtedly put money 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 on however when you want to withdraw your money so you sell your shares you offer 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 knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those alternatives that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you know depends entirely how you’re investing but that is a charge to bear in mind the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two free trade anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really giving 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 provide me us dollars instead you need to pay their fees now the terrific thing about however when you’ve transformed your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests 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 really excellent utilizing that part of their website won’t certainly restrict you in any way however we have to be aware of two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Youtube Today.
You are provided lots of choices with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be exactly what you require.