Not really having the full amount of capital…Michael Saylor July 2022… so with anything that you’re discovering please do study the platform do not simply assume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine business if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has actually stated they have actually made revenue 14 months in a row buy these choices since you think is the best ones for you which being said let’s dive straight 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that means if for example 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 also cover is the costs involved truly critical you understand what are the costs of this now with any platform there will be some cost to certainly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no charge websites then may not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts maybe 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 costs with in particular in this video the next would be things to know prior to you actually begin investing in copy trading or copy portfolios and finally some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission fees are complimentary nevertheless there are a couple of other charges the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are simply among those alternatives that they have a lot of platforms certainly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the second cost that i have actually discussed is that conversion charge now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 give me us dollars instead you have to pay their costs now the fantastic aspect of however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 costs so that’s truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread fees fine and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor July 2022.
You are given lots of options 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 understand which system to choose, then this might be exactly what you require.