Not really having the full amount of capital…Michael Saylor Warren Buffett… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not just do something because that individual has said they’ve made profit 14 months in a row purchase these options since you believe 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 understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary 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 suggests with our money we can really say i want to do exactly what that trader is doing or match that precise portfolio of options and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that means 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 involved truly crucial you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then might not charge you for actually buying and selling funds or etfs individual 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 sort of charges associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with costs really important to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling all right so commission fees are totally free however there are a couple of other fees the very first one is withdrawal costs so you can certainly put money in now if you remain 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 but when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you might state fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a lot of platforms clearly are totally 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 once every six months you know depends completely how you’re investing however that is a cost to remember the second fee that i’ve touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact offering you in regards to 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 offer me us dollars instead you need to pay their fees now the great thing about though when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary 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 really great using that part of their website won’t certainly limit you in any way nevertheless we need to know 2 other fees the very first being what’s called spread fees all right and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Michael Saylor Warren Buffett.
You are offered many options with this software and you can configure it however you see fit. If you’re looking to begin trading the forex market but don’t know which system to pick, then this may be precisely what you need.