Not really 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 assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you actually get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash 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’ve made earnings 14 months in a row invest in these options because you believe is the best ones for you which being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your cash will be mimicked 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 fees involved truly critical you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be fees 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 show you the charges with in particular in this video the next would be things to know prior to you actually begin buying copy trading or copy portfolios and finally some finest advice best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs actually essential to understand these now on there’s a number of fees there isn’t fees to do with in fact buying and selling okay so commission charges are totally free however there are a number of other costs the very first one is withdrawal fees so you can certainly put cash in now if you remain in the uk we put our uk cash.
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 money so you offer your shares you sell your commodities whatever you’re selling the minimum quantity 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 only withdrawing when i absolutely require to now you might state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase 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 purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 open market anybody 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 fee is there what are they really 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 say give me us dollars rather you have to pay their costs now the excellent thing about though when you’ve transformed your money you do not have to invest it right away 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 takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to be aware of two other charges the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Keith Mccullough.
You are given many 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 do not understand which system to choose, then this might be exactly what you require.