Not actually having the full amount of capital…Michael Saylor July 2022… so with anything that you’re discovering please do study the platform don’t just assume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they have actually made profit 14 months in a row invest in these choices since you think is the right ones for you and that being said let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect 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 therefore that indicates with our cash we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included actually vital you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies 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 zero fee websites then might not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges associated so do your due diligence and i’m going to reveal 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 lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges actually essential to understand these now on there’s a couple of costs there isn’t charges to do with actually buying and selling okay so commission fees are free however there are a couple of other fees the very first one is withdrawal fees so you can clearly put cash in now if you’re 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 in the future but when you wish to withdraw your money so you offer your shares you sell your commodities 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 ensure that i’m only withdrawing when i absolutely require to now you might state alright that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those alternatives that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you know depends totally how you’re investing however that is a charge to keep in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and 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 two and two open market anybody this is basic they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion cost is there what are they actually 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 state give me us dollars instead you need to pay their costs now the fantastic thing about however when you have actually 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 suggests the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good using that part of their site won’t certainly limit you in any way however we have to understand two other fees the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Michael Saylor July 2022.
You are offered numerous choices with this software 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 select, then this may be precisely what you need.