Not really having the full amount of capital…Michael Saylor Religion… so with anything that you’re discovering please do study the platform don’t simply assume because 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 too so you really 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 threat this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they have actually made profit 14 months in a row purchase these choices since you think is the ideal ones for you and that 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.
popular for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved actually important you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real companies 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 sites then may not charge you for in fact buying and selling funds or etfs private 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 kinds of charges 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 understand before you really begin investing in copy trading or copy portfolios and finally some finest recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with fees really essential to comprehend these now on there’s a couple of fees there isn’t fees to do with really buying and selling fine so commission fees are totally free however there are a couple of other charges the very first one is withdrawal fees so you can clearly put money in now if you remain 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 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you may say fine 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 somewhere and withdrawal costs are just among those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the second charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an option to purchase 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 purchasing 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 utilizing trading two and 2 free trade anyone at all this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 give me us dollars instead you need to pay their charges now the terrific thing about though when you have actually converted your cash you do not need to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their website won’t certainly limit you in any way however we need to be aware of two other fees the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread fee as i’m going to show you Michael Saylor Religion.
You are offered numerous options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but do not understand which system to choose, then this might be exactly what you require.