Not really having the full amount of capital…Etoro Money Card Review… so with anything that you’re discovering please do study the platform don’t simply presume because i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money 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 money to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that individual has actually said they have actually made profit 14 months in a row buy these options because you think is the best ones for you and that being said 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’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 amazing we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially each time they make a trade they buy they sell whatever they do your money will be mimicked with it so that implies 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 likewise cover is the charges involved really crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine 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 zero cost websites then may not charge you for really buying and selling etfs or funds individual products specific 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 fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and finally some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s begin with costs actually essential to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling okay so commission costs are totally free however there are a couple of other charges the very first one is withdrawal charges so you can certainly put money 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 sell your shares you sell your commodities whatever you’re selling 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 ensure that i’m just withdrawing when i definitely need to now you might state okay that’s rather costly and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just among those choices that they have a lot of platforms undoubtedly 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 once every six months you understand depends entirely how you’re investing however that is a cost to bear in mind the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use 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 charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really 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 state provide me us dollars instead you need to pay their fees now the terrific feature of however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good using that part of their site will not definitely restrict you in any way nevertheless we have to understand two other costs the very first being what’s called spread costs fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you Etoro Money Card Review.
You are provided numerous options with this software application and you can configure it however you see fit. If you’re looking to begin trading the forex market however do not know which system to choose, then this might be exactly what you need.