Not actually having the total of capital…Michael J. Saylor Twitter… so with anything that you’re finding out about please do study the platform don’t simply presume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they give that choice also so you actually get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re discussing how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row purchase these choices because you think is the right ones for you and that being stated let’s dive straight 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 element that is probably.
popular for it’s the choice to see what other traders are doing extraordinary 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 suggests with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their financial 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 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 buying the selling for you there’s going to be charges involved and even a few of the no charge sites then may not charge you for really buying and selling etfs or funds specific products individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you actually start purchasing copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with costs truly crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling okay so commission fees are complimentary however there are a number of other fees the very first one is withdrawal costs so you can obviously put money 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 on however when you wish to withdraw your money so you offer 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 5 dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those alternatives that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd fee 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 and that’s fine that suits 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 use anyone so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck with whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee 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 say provide me us dollars rather you have to pay their fees now the excellent thing about though when you’ve converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that indicates 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 charges so that’s actually excellent utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to be aware of two 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 show you Michael J. Saylor Twitter.
You are offered many choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not know which system to choose, then this might be exactly what you require.