Not really having the full amount of capital…Michael Saylor Inflation… so with anything that you’re learning about please do study the platform don’t just assume because i use it that you can utilize it right away do some due diligence have a little play around 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 cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these choices due to the fact that you think is the best ones for you and that being said let’s dive directly in [Music] so the 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 element that is most likely.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated 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 cash in so we’re going to also cover is the fees included really critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero cost websites then might not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 know before you in fact start buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling okay so commission costs are free however there are a couple of other charges the first one is withdrawal costs so you can undoubtedly 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 in the future however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling 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 make sure that i’m only withdrawing when i definitely require to now you may say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost 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 buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge exists what are they really giving you in regards to 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 offer me us dollars rather you need to pay their charges now the great aspect of however when you’ve transformed your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their site will not certainly restrict you in any way however we have to be aware of two other costs the first being what’s called spread fees alright and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Michael Saylor Inflation.
You are given lots of choices with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to select, then this might be exactly what you require.