Not actually having the full amount of capital…Married Michael Saylor Wife… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option too so you really 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 obviously your capital is at risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has actually said they’ve made earnings 14 months in a row invest in these choices since you believe is the ideal ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 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 actually important you understand what are the expenses of this now with any platform there will be some expense to certainly these are real 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 may not charge you for really buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 before you really start investing in copy trading or copy portfolios and finally some finest suggestions finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s start with fees really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal charges so you can obviously put money in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however 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 five dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you might say fine that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just among those options that they have a great deal of platforms obviously are totally free 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 as soon as every six months you understand depends completely how you’re investing however that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion cost is there what are they in fact giving 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 provide me us dollars rather you need to pay their fees now the great feature of though when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really good using that part of their site won’t certainly limit you in any way however we need to be aware of two other charges the first being what’s called spread charges fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you Married Michael Saylor Wife.
You are offered many alternatives with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t know which system to choose, then this may be precisely what you need.