Not in fact having the total of capital…Crypto Etoro… so with anything that you’re finding out about please do study the platform do not simply 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 cash they give that choice too so you in fact get utilized to the structure of the site 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 threat this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something because that individual has actually said they have actually made revenue 14 months in a row purchase these options 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 comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can in fact say i want to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they purchase they offer whatever they do your money will be imitated with it so that implies if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved really crucial you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 fee sites then may not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 know prior to you really start purchasing copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with costs really essential to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission costs are totally free however there are a number of other fees the first one is withdrawal charges so you can obviously put cash 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 later on but when you wish to withdraw your money so you sell your shares you sell 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 of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say fine that’s rather expensive 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 among those choices that they have a lot of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a fee to keep in mind the second cost that i’ve 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 fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 charge now when you use anyone so if you’re using trading two and 2 free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact providing 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 provide me us dollars rather you have to pay their fees now the fantastic aspect of however when you have actually converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary 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 additional costs so that’s truly excellent using that part of their site won’t certainly limit you in any way however we need to know two other charges the first being what’s called spread costs alright and i’m going to show you what i imply on now a spread fee as i’m going to show you Crypto Etoro.
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