Not really having the total of capital…Can I Trade Crypto On Etoro… so with anything that you’re discovering please do study the platform don’t just presume because i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you really get used to the structure of the site and after that when you’re ready to utilize 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 purchasing genuine companies if you pick to in this specific video we’re talking about how to copy other individuals’s investments with your money so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has stated they have actually made profit 14 months in a row purchase these choices since you think is the right ones for you which being said let’s dive straight in [Music] so the important 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 most likely.
popular for it’s the option to see what other traders are doing incredible we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can really say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically whenever they make a trade they purchase they sell whatever they do your money will be mimicked with it so that indicates 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 costs involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real business 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 sites then might not charge you for in fact buying and selling etfs or funds specific commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 understand before you really begin buying copy trading or copy portfolios and lastly some best advice finest practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s start with charges truly essential to comprehend these now on there’s a couple of charges there isn’t costs to do with actually buying and selling all right so commission fees are complimentary however there are a number of other costs the first one is withdrawal fees so you can undoubtedly put money in now if you’re 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 in the future however when you want to withdraw your money so you offer your shares you offer your commodities 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 make sure that i’m just withdrawing when i definitely require to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those options 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 largely it can be perhaps even once a year when every six months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to buy in euros or uk which’s fine that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading two and two free trade anyone at all this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you understand 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 say offer me us dollars rather you need to pay their fees now the fantastic thing about though when you have actually converted your cash you do not need to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their site won’t definitely restrict you in any way nevertheless we have to be aware of two other costs the very first being what’s called spread charges all right and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Can I Trade Crypto On Etoro.
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