Not really having the total of capital…Married Michael Saylor Wife… so with anything that you’re discovering please do study the platform do not just assume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you really get used 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 of course your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has actually stated they have actually made earnings 14 months in a row buy these choices due to the fact that you think is the right ones for you which 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 aspect that is most likely.
famous for it’s the option 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 money we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that implies if for example 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 also cover is the charges involved truly critical you understand what are the expenses of this now with any platform there will be some cost to clearly these are real 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 websites then might not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts possibly 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 charges with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some finest advice best practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly crucial to comprehend these now on there’s a couple of fees there isn’t costs to do with in fact buying and selling alright so commission costs are free however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you offer 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say alright that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal charges are simply among those options that they have a lot of platforms obviously are totally free to do such things has this 5 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 cost to remember the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good 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 2 open market anyone at all this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact offering 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 say offer me us dollars rather you have to pay their fees now the fantastic aspect of however when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their website will not definitely limit you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread charges fine and i’m going to reveal you what i suggest on now a spread cost as i’m going to reveal you Married Michael Saylor Wife.
You are given lots of alternatives with this software and you can configure it however you see fit. If you’re looking to start trading the forex market but don’t know which system to select, then this may be exactly what you require.