Not really having the total of capital…Michael Saylor Elon Musk… so with anything that you’re learning more about please do study the platform do not just presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you actually get used to the structure of the site and after that when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing genuine business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they’ve made earnings 14 months in a row invest in these options because you believe is the ideal 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing unbelievable 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 indicates with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of alternatives and generally every time they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 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 charges involved really critical you understand what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no fee websites then may not charge you for actually buying and selling etfs or funds specific commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand prior to you actually begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s begin with costs truly important to comprehend these now on there’s a couple of charges there isn’t fees to do with actually buying and selling all right so commission fees are totally free nevertheless there are a number of other fees the 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 but when you wish to withdraw your money so you offer your shares you offer your commodities 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a cost to remember the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have 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 fee exists what are they actually 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 give me us dollars rather you need to pay their fees now the fantastic feature of though when you have actually converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good utilizing that part of their website will not definitely restrict you in any way however we have to know 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Elon Musk.
You are offered lots of options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not understand which system to pick, then this might be exactly what you require.