Not actually having the full amount of capital…Etoro Exchange Review… so with anything that you’re discovering please do study the platform don’t simply presume since 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 alternative also so you in fact 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 naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re discussing how to copy other people’s investments with your cash so clearly your capital is at risk and we have to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row purchase these choices due to the fact that you believe 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 most likely.
well-known for it’s the choice 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 and so that means with our cash we can actually state i wish to do precisely what that trader is doing or match that specific portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that implies if for example 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 fees involved really crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are real 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 might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees associated so do your due diligence and i’m going to show you the fees 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 lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s begin with charges truly crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling alright so commission fees are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly put cash in now if you’re 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 however when you wish to withdraw your cash so you offer your shares you offer your products 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might say fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just among those alternatives that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every six months you understand depends completely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading two and two open market anyone at all this is basic they have i suppose stuck to 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 bargain with them you can’t go to the bank and say provide me us dollars rather you need to pay their charges now the excellent feature of however when you have actually transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really great utilizing that part of their website will not definitely limit you in any way however we have to be aware of two other costs the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread fee as i’m going to show you Etoro Exchange Review.
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