Not in fact having the total of capital…Michael Saylor Investments… so with anything that you’re learning about please do study the platform do not simply presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option also so you really get used 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 of course your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at risk and we have to bear that in mind do not simply do something since that individual has actually stated they’ve made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you and that being said 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 belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked 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 charges involved really critical you comprehend what are the costs 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 sites then might not charge you for actually buying and selling etfs or funds individual products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know prior to you in fact start buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s start with fees really crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling alright so commission fees are totally free however there are a couple of other costs the first one is withdrawal charges so you can certainly put cash in now if you’re 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 but when you want to withdraw your money so you offer your shares you sell your commodities 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 sure that i’m just withdrawing when i absolutely require to now you might state fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are just one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you know depends totally how you’re investing but that is a fee to remember the second cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that matches 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 cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is basic they have actually i expect stuck to whatever charge 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 fee is there what are they in fact offering you in regards to 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 have to pay their costs now the terrific feature of however when you’ve converted your money you do not have to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that means the preliminary 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 costs so that’s actually excellent utilizing that part of their site will not definitely restrict you in any way however we have to be aware of two other charges the first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Investments.
You are offered numerous alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to choose, then this may be exactly what you require.