Not in fact having the total of capital…Married Michael Saylor Wife… so with anything that you’re learning more about please do study the platform do not just assume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re buying genuine business if you pick to in this specific video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that person has stated they have actually made profit 14 months in a row invest in these choices because you believe is the right ones for you and that being stated 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 element that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually say i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially each 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 charges included really crucial you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the absolutely no charge websites then may not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs 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 know prior to you really start buying copy trading or copy portfolios and lastly some finest recommendations finest practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s start with fees actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with really buying and selling all right so commission fees are complimentary however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish 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 knowing that i’m going to make certain that i’m only withdrawing when i definitely require to now you may state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply 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 largely it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to remember the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in 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 anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering you in terms of 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 provide me us dollars instead you have to pay their costs now the terrific feature of though when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates 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 fees so that’s actually great using that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread fee as i’m going to show you Married Michael Saylor Wife.
You are given numerous options with this software application 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.