Not really having the full amount of capital…Michael Saylor House… so with anything that you’re finding out about please do study the platform do not simply assume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice too so you really get utilized to the structure of the website 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 purchasing real companies if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row buy these choices due to the fact that you think is the right ones for you which being said let’s dive directly 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 alternative to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially each time they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine 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 zero cost sites then might not charge you for in fact buying and selling funds or etfs individual commodities specific 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 sort of costs 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 understand prior to you really start buying copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with costs actually important to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission fees are complimentary nevertheless there are a couple 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 automatically converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your money so you sell 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 naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say alright that’s quite pricey 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 simply one of those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six 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 handling us dollars just there’s not a choice to purchase in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost exists 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 say offer me us dollars instead you have to pay their fees now the terrific thing about however when you have actually transformed your money you do not have to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 extra fees so that’s really excellent utilizing that part of their website will not certainly restrict you in any way however we have to understand 2 other charges the very first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor House.
You are provided lots of alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this might be exactly what you need.