Not really having the full amount of capital…Michael Saylor Domains… so with anything that you’re learning about please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option also so you in fact get used to the structure of the website and then when you’re ready to utilize 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 real companies if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they’ve made revenue 14 months in a row purchase these options because you believe is the best ones for you and that being stated let’s dive straight 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.
popular for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that means if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved actually critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business 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 cost sites then might not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 actually start investing in copy trading or copy portfolios and lastly some finest recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with fees truly crucial to comprehend these now on there’s a number of costs there isn’t fees to do with actually buying and selling okay so commission fees are complimentary nevertheless there are a couple of other fees the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you sell 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 5 dollars per withdrawal so for me of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state alright that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those choices 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 largely it can be maybe even once a year once every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the second fee that i’ve 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 great that suits me.
a great deal 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 use anyone so if you’re using trading two and two open market anyone at all this is basic they have actually i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really giving you in terms of 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 say offer me us dollars instead you have to pay their fees now the great feature of however when you have actually converted your money you do not have to invest it right now 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 buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really excellent using that part of their site won’t certainly limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Michael Saylor Domains.
You are offered many options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market however don’t know which system to choose, then this may be precisely what you require.