Not really having the full amount of capital…Michael Saylor Quotes… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really get utilized to the structure of the website and then 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 business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you which 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 probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for example 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 truly important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies 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 absolutely no cost websites then might not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you really begin purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly essential to understand these now on there’s a couple of costs there isn’t costs to do with actually buying and selling all right so commission charges are totally free nevertheless there are a number of other charges the first one is withdrawal costs so you can clearly put cash 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 but when you want to withdraw your money so you offer your shares you offer your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal fees are simply among those choices that they have a lot of platforms certainly are complimentary 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 charge to bear in mind the 2nd fee that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s fine that suits me.
a lot 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 charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact giving 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 say provide me us dollars rather you have to pay their costs now the excellent feature of however when you’ve transformed your money 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 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 actually great using that part of their site will not certainly limit you in any way however we need to be aware of 2 other charges the very first being what’s called spread costs all right and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Michael Saylor Quotes.
You are given many alternatives 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 might be exactly what you need.