Not actually having the full amount of capital…Michael Saylor And Wife… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative as well so you actually 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 risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we have to bear that in mind do not just do something because that person has actually said they have actually made revenue 14 months in a row invest in these options because you think is the best ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every 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 cash in so we’re going to likewise cover is the fees included really critical you comprehend what are the costs of this now with any platform there will be some cost to clearly 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 a few of the absolutely no cost sites then might not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees 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 show you the fees with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees really essential to understand these now on there’s a couple of charges there isn’t costs to do with really buying and selling all right so commission fees are complimentary however there are a couple of other costs the first one is withdrawal costs so you can obviously put cash 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 however when you want to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum quantity 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 absolutely need to now you might say okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those choices that they have a great deal of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a great deal 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 cost now when you utilize anyone so if you’re utilizing trading 2 and two free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually 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 state offer me us dollars instead you have to pay their charges now the terrific thing about however when you’ve converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their website won’t certainly limit you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread charges okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor And Wife.
You are offered numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not know which system to choose, then this might be exactly what you need.