Not actually having the total of capital…Michael Saylor Wealth… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option also so you actually get used 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 of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so certainly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually said they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the ideal ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect 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 great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can actually say i want to do precisely what that trader is doing or match that precise portfolio of options and basically whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that means 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 likewise cover is the charges involved actually critical you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are real business 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 no cost sites then may not charge you for in fact buying and selling funds or etfs private products private stocks.
there’ll be costs 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 reveal you the fees with in particular in this video the next would be things to know before you actually start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges truly essential to comprehend these now on there’s a number of fees there isn’t fees to do with in fact buying and selling all right so commission costs are free however there are a number of other charges the very first one is withdrawal costs so you can undoubtedly 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 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 quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state fine that’s quite expensive 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 certainly 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 as soon as every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and 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 2 and 2 open market anybody this is basic they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they actually providing 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 offer me us dollars rather you have to pay their fees now the great feature of though when you have actually converted 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 preliminary day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really great utilizing that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Wealth.
You are given many options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market however don’t understand which system to choose, then this may be exactly what you need.