Not really having the total of capital…Michael Saylor Dogecoin… so with anything that you’re finding out about please do study the platform don’t just assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you in fact get utilized to the structure of the website and after that when you’re ready to utilize 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 buying real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made profit 14 months in a row invest in these options because you believe is the right ones for you which 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can in fact say i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 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 fees involved really vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then might not charge you for in fact buying and selling etfs or funds private commodities specific 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 costs 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 understand before you really begin buying copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with fees actually important to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission charges are totally free nevertheless there are a number of other costs 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 immediately converted into us dollars and i’ll cover a little point about that later but when you want to withdraw your cash so you offer your shares you offer your products 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say all right that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a charge to remember the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or 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 utilizing trading two and two open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually providing 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 provide me us dollars instead you need to pay their charges now the great thing about however when you have actually converted your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site will not certainly limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Michael Saylor Dogecoin.
You are provided lots of options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however do not understand which system to select, then this may be exactly what you need.