Not in fact having the full amount of capital…Michael Saylor Kim… so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that option also so you really get used to the structure of the site 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 threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row purchase these choices because you believe is the best ones for you and that being stated 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 element that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they offer whatever they do your money will be imitated with it so that means if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved truly crucial you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost sites then may not charge you for actually buying and selling funds or etfs private 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 kinds of costs 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 understand before you in fact begin purchasing copy trading or copy portfolios and finally some best suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs truly crucial to comprehend these now on there’s a number of charges there isn’t charges to do with really buying and selling all right so commission costs are totally free however there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re selling 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 only withdrawing when i absolutely require to now you might say all right that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends completely how you’re investing however that is a charge to remember the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk and that’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re utilizing trading two and two free trade anybody this is standard they have 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 fee is there 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 haggle with them you can’t go to the bank and say provide me us dollars rather you need to pay their charges now the fantastic feature of however when you have actually transformed your cash you do not need to invest it immediately that dollar worth can being 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s really excellent using that part of their website won’t definitely limit you in any way however we have to be aware of 2 other fees the first being what’s called spread charges alright and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Michael Saylor Kim.
You are offered lots of options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to pick, then this may be exactly what you need.