Not really having the full amount of capital…Michael Saylor Cnbc… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you in fact get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that person has actually said they’ve made earnings 14 months in a row invest in these options because you believe is the best ones for you and that being said 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 element that is probably.
well-known for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of options and basically each time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies if for instance 10 of their 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 really important you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real 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 zero cost sites then may not charge you for in fact buying and selling etfs or funds private commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of costs associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand before you really start purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs actually important to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission fees are complimentary however there are a couple of other charges the first one is withdrawal charges so you can undoubtedly 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 however when you want 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 naturally understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps 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 2nd charge that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an option 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 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 2 and 2 free trade anyone at all this is standard they have i expect stuck to whatever fee they charge for that conversion rate you kind of have 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 actually offering 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 give me us dollars instead you need to pay their costs now the great aspect of though when you’ve converted your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 really good utilizing that part of their site will not certainly limit you in any way however we need to know two other charges the very first being what’s called spread fees okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Cnbc.
You are provided numerous alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market but do not understand which system to pick, then this might be exactly what you need.