Not in fact having the full amount of capital…Michael Saylor Advice… so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you really get utilized to the structure of the website and then when you’re ready to use your own money 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 buying real business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so certainly your capital is at risk and we have to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row buy these options since you think is the right ones for you which 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 probably.
well-known for it’s the alternative to see what other traders are doing incredible we do not normally 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 money we can really state i want to do exactly what that trader is doing or match that exact portfolio of options and generally 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 example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved really crucial you understand what are the costs of this now with any platform there will be some expense to clearly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero cost websites then may not charge you for really buying and selling etfs or funds specific commodities individual 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 reveal you the costs with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually important to understand these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission charges are free however there are a couple of other fees the first one is withdrawal costs so you can certainly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell 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 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 need to now you may state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those options that they have a great deal of platforms certainly 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 once every six months you understand depends entirely how you’re investing but that is a cost to keep in mind the 2nd cost that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or 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 2 and 2 free trade anyone at all this is standard they have i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they in fact 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 state give me us dollars rather you have to pay their charges now the great feature of however when you have actually transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their website won’t definitely limit you in any way however we have to know two other costs the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread charge as i’m going to show you Michael Saylor Advice.
You are provided numerous options with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t understand which system to select, then this may be exactly what you need.