Not in fact having the total of capital…Etoro Openbook Review… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative as well so you really get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we need to bear that in mind do not simply do something since that person has said they have actually made earnings 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 aspect that is most likely.
well-known for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can really say i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they sell whatever they do your money will be imitated with it so that means if for example 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 charges included really crucial you comprehend what are the expenses of this now with any platform there will be some cost 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 in fact buying and selling etfs or funds individual products specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of costs 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 before you really begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with costs really important to comprehend these now on there’s a couple of fees there isn’t costs to do with actually buying and selling fine so commission costs are complimentary however there are a number of other charges the very first one is withdrawal fees so you can obviously 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 however when you wish to withdraw your money so you offer your shares you offer your products 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 make certain that i’m only withdrawing when i absolutely require to now you might state okay that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply one of those choices that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends completely how you’re investing but that is a cost to keep in mind the 2nd charge that i’ve touched upon 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 great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is basic they have i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee exists what are they really 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 say give me us dollars instead you need to pay their fees now the great aspect of however when you’ve converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial 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 fees so that’s actually good using that part of their website will not definitely limit you in any way nevertheless we have to know 2 other costs the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Etoro Openbook Review.
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