Not really having the total of capital…Etoro Honest Review… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get utilized 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 danger this is investing we’re doing you’re buying genuine business if you choose to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row purchase these choices since you think is the best ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is most likely.
famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can really state i wish to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that implies if for instance 10 of their 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 costs included really crucial you understand what are the expenses of this now with any platform there will be some expense to obviously these are real 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 absolutely no fee sites then may not charge you for actually buying and selling funds or etfs private commodities individual stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 prior to you in fact start investing in copy trading or copy portfolios and lastly some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually essential to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling all right so commission fees are complimentary nevertheless there are a number of other fees the 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 on but when you wish to withdraw your cash so you offer 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 5 dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say all right 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 costs are simply one of those alternatives that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a cost to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’s great that matches me.
a great deal 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 anyone so if you’re utilizing trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 provide me us dollars rather you need to pay their fees now the terrific feature of though when you have actually transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests 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 extra charges so that’s truly good using that part of their site will not definitely restrict you in any way nevertheless we need to understand 2 other fees the first being what’s called spread fees fine and i’m going to show you what i mean on now a spread fee as i’m going to show you Etoro Honest Review.
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