Not in fact having the total of capital…Michael Saylor Politics… so with anything that you’re learning about please do study the platform don’t just presume since i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get utilized to the structure of the site and after that 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 purchasing real business if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row buy these choices because you think is the right ones for you and that being stated let’s dive directly in [Music] so the important 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our money we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically each time they make a trade they buy they sell whatever they do your cash will be imitated with it so that suggests 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 charges involved truly crucial you comprehend what are the costs 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 a few of the no charge websites then might not charge you for in fact buying and selling funds or etfs individual 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 sort 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 know before you really begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s begin with fees truly crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling okay so commission fees are complimentary however there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you sell your shares you offer 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 obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might say alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those alternatives that they have a great deal of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends completely how you’re investing but that is a fee to keep in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot 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 fee now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they really giving 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 offer me us dollars rather you need to pay their costs now the great aspect of though when you’ve transformed your cash you do not need to invest it right away that dollar worth 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two other fees the very first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Michael Saylor Politics.
You are provided many options 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 pick, then this may be precisely what you need.