Not really having the full amount of capital…Etoro Cryptocurrency Review… so with anything that you’re learning more about please do study the platform do not simply assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option also so you in fact get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you and that 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 aspect that is probably.
famous for it’s the option to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for instance 10 of their investment portfolio remains 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 really crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the zero fee websites then might not charge you for really buying and selling funds or etfs individual commodities individual stocks.
there’ll be charges 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 reveal you the fees with in particular in this video the next would be things to understand before you really begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with costs truly crucial to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling fine so commission fees are totally free however there are a number of other charges the first one is withdrawal fees so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash so you sell 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 obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd fee that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading two and 2 open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 rather you need to pay their costs now the great thing about though when you have actually transformed your cash you do not need to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial 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 additional costs so that’s truly good using that part of their website won’t definitely limit you in any way however we need to understand two other costs the very first being what’s called spread costs alright and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Etoro Cryptocurrency Review.
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