Not actually having the total of capital…Michael Saylor Partner… so with anything that you’re discovering please do study the platform don’t simply presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that option as well so you actually get utilized to the structure of the site and then when you’re ready to use your own money 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 business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these choices because you believe is the ideal 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 probably.
famous for it’s the option to see what other traders are doing amazing we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they purchase they sell 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 cash in so we’re going to also cover is the charges involved actually critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero cost sites then might not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s begin with charges really essential to comprehend these now on there’s a couple of charges there isn’t fees to do with really buying and selling fine so commission costs are free nevertheless there are a number of other fees the first one is withdrawal charges so you can obviously put money 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 later on however when you want to withdraw your money so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say all right that’s rather pricey 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 simply one of those choices that they have a great deal of platforms obviously 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 six months you understand depends completely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two open market anybody this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their costs now the fantastic thing about however when you’ve transformed your money you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great using that part of their site won’t certainly restrict you in any way however we have to know 2 other charges the 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 Partner.
You are given numerous choices with this software application and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not know which system to select, then this may be exactly what you require.