Not in fact having the total of capital…Michael Saylor Keith Mccullough… so with anything that you’re finding out about please do study the platform don’t simply presume 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 consider that choice as well so you actually get utilized to the structure of the site 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 threat this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row buy these options because you think 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs included really vital you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero charge websites then may not charge you for really buying and selling funds or etfs private commodities individual stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand prior to you actually start buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really important to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can certainly put money in now if you remain 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 want to withdraw your money so you offer your shares you sell your commodities 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms undoubtedly 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 as soon as every 6 months you know depends totally how you’re investing but that is a cost to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you type of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really offering 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 state offer me us dollars rather you have to pay their charges now the fantastic feature of though when you’ve transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their website won’t definitely restrict you in any way however we need to know 2 other fees the first being what’s called spread fees okay and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Keith Mccullough.
You are provided numerous choices with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t know which system to pick, then this might be exactly what you require.