Not really having the full amount of capital…Michael Saylor Jail… so with anything that you’re learning about please do study the platform don’t simply presume since i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice as well so you actually get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we have to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row invest in these options since you think is the right 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 probably.
popular for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees included actually vital you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero fee sites then might not charge you for in fact buying and selling funds or etfs individual products private 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 charges 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 know prior to you in fact start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s kick off with costs really essential to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling okay so commission charges are free nevertheless there are a couple of other fees the first one is withdrawal costs so you can certainly 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 in the future but when you wish to withdraw your cash so you offer your shares you offer your commodities 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might say okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just among those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a fee to remember the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that suits 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 good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 give me us dollars rather you have to pay their costs now the great feature of though when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their site will not certainly restrict you in any way however we need to know 2 other charges the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Jail.
You are given many alternatives with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not know which system to choose, then this may be precisely what you require.