Not actually having the total of capital…Michael Saylor Digital Energy… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that 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 give that option also so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row buy these options because you believe is the right ones for you and that being stated let’s dive straight in [Music] 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 aspect that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that means 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 truly vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge websites then may not charge you for actually buying and selling funds or etfs specific products private stocks.
there’ll be fees on other parts perhaps 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 fees with in particular in this video the next would be things to know prior to you really begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly essential to comprehend these now on there’s a number of fees there isn’t charges to do with really buying and selling alright so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
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 offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely need 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 costs somewhere and withdrawal fees are simply among those options that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every six months you understand depends completely how you’re investing but that is a fee to remember the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that fits 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 great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving 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 state provide me us dollars rather you need to pay their charges now the fantastic aspect of however when you’ve converted your money you do not have to invest it immediately that dollar worth can being 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 fees so that’s truly great using that part of their website won’t definitely limit you in any way however we have to understand 2 other charges the very first being what’s called spread costs alright and i’m going to show you what i imply on now a spread charge as i’m going to show you Michael Saylor Digital Energy.
You are given many choices with this software and you can configure it however you see fit. If you’re looking to start trading the forex market however do not know which system to pick, then this might be exactly what you need.