Not actually having the full amount of capital…Etoro Crypto Exchange… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you actually get utilized 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 of course your capital is at risk this is investing we’re doing you’re purchasing real companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your cash so certainly your capital is at risk and we have to bear that in mind do not just do something since that individual has actually stated they have actually made profit 14 months in a row purchase these options because 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 element that is most likely.
popular for it’s the choice to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really state i wish to do precisely what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges involved truly crucial you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then may not charge you for actually buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering 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 understand before you in fact begin buying copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges truly essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling alright so commission charges are totally free however there are a number of other fees the first one is withdrawal charges so you can certainly 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 later however when you want to withdraw your cash so you sell 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 naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state alright 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 simply among 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 mostly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a charge to keep in mind the second cost that i have actually discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m excellent 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 two free trade anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually providing you in terms of 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 give me us dollars instead you have to pay their costs now the great aspect of though when you’ve transformed your money you do not have to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates the preliminary 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 costs so that’s truly good using that part of their website won’t definitely limit you in any way nevertheless we have to be aware of 2 other charges the first being what’s called spread costs alright and i’m going to show you what i mean on now a spread fee as i’m going to show you Etoro Crypto Exchange.
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