Not in fact having the total of capital…Michael Saylor Quem É… so with anything that you’re discovering please do study the platform do not simply assume because 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 choice too so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that person has actually said they’ve made profit 14 months in a row buy these options because you think is the right ones for you and that being stated let’s dive directly in [Music] so the important 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 element that is probably.
famous for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can really say i wish to do precisely what that trader is doing or match that precise portfolio of options and essentially every time they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests 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 charges included truly important you understand what are the costs of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 in fact begin investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s start with fees actually essential to comprehend these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission charges are totally free however there are a couple of other fees the first one is withdrawal costs so you can clearly 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 but when you want to withdraw your cash so you sell your shares you sell your products whatever you’re selling 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 sure that i’m just withdrawing when i absolutely need to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely 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 fee 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 a choice to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 offer me us dollars instead you need to pay their costs now the terrific feature of however when you have actually converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial 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 charges so that’s really great utilizing that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges okay and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Quem É.
You are provided many 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 understand which system to choose, then this may be precisely what you need.