Not really having the total of capital…Michael Saylor And Wife… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize 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 used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re purchasing genuine business if you pick to in this specific video we’re discussing how to copy other individuals’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has stated they have actually made earnings 14 months in a row invest in these choices due to the fact that you think is the right ones for you and that being said 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 element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we don’t generally 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 money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that indicates if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees included truly important you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the absolutely no fee sites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 start buying copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees really crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling fine so commission fees are complimentary however there are a number of other costs the very first one is withdrawal costs so you can obviously put money 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 but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling 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 make certain that i’m only withdrawing when i definitely need to now you might say all right 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 fees are just one of those options that they have a great deal of platforms certainly 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 as soon as every six months you know depends entirely how you’re investing but that is a charge to remember the 2nd fee that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy 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 purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they actually providing 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 give me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their site won’t certainly limit you in any way nevertheless we have to know two other charges the very first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you Michael Saylor And Wife.
You are offered lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to choose, then this may be exactly what you need.