Not actually having the total of capital…Binance Vs Etoro Crypto Fees… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you in fact get used to the structure of the site and after that when you’re ready to utilize your own money 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 genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so clearly your capital is at risk and we have to bear that in mind do not simply do something because that individual has actually stated they’ve made revenue 14 months in a row purchase these choices because 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t 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 cash we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved truly critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no charge websites then may not charge you for in fact buying and selling funds or etfs individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 know before you actually start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with fees actually important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a couple of other charges 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 offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely require to now you may say all right that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends totally how you’re investing but that is a cost to keep in mind the second fee that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists 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 bargain with them you can’t go to the bank and say offer me us dollars instead you have to pay their costs now the terrific aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates 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 actually excellent using that part of their website will not definitely limit you in any way nevertheless we have to understand two other fees the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Binance Vs Etoro Crypto Fees.
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