Not actually having the full amount of capital…Etoro 2021 Review… so with anything that you’re discovering please do study the platform don’t simply 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 really get used 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 naturally your capital is at risk this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your cash so clearly 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 have actually made earnings 14 months in a row invest in these choices since you think is the best ones for you and that being stated let’s dive straight in [Music] The 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 aspect that is probably.
popular 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 and so that implies with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they sell whatever they do your money will be imitated with it so that means 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 important you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 some of the zero cost websites then may not charge you for actually buying and selling funds or etfs private products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of fees 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 know before you really start purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission fees are totally free however there are a number of other fees the very first one is withdrawal fees so you can obviously put money 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 offer 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are complimentary 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 when every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice 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 and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i expect stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they really providing 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 state offer me us dollars instead you need to pay their charges now the excellent feature of though when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other costs the very first being what’s called spread fees fine and i’m going to show you what i suggest on now a spread charge as i’m going to show you Etoro 2021 Review.
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