Not really having the total of capital…Etoro Review Australia… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money 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 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 purchasing real business if you choose to in this particular video we’re talking about how to copy other individuals’s investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something since that individual has said they have actually made revenue 14 months in a row invest in these options because you believe is the ideal 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 understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they buy they sell whatever they do your money will be simulated with it so that indicates 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 vital you understand what are the costs of this now with any platform there will be some cost to certainly 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 some of the zero fee websites then may not charge you for actually buying and selling funds or etfs private products specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 prior to you really start purchasing copy trading or copy portfolios and lastly some finest recommendations best practices if you are thinking of this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually essential to understand these now on there’s a couple of costs there isn’t costs to do with really buying and selling fine so commission fees are totally free nevertheless there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me naturally knowing that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal 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 6 months you understand depends totally how you’re investing but that is a fee to keep in mind the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they really giving you in terms of 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 offer me us dollars rather you need to pay their costs now the great thing about though when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly great using that part of their site will not certainly restrict you in any way however we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to show you what i suggest on now a spread cost as i’m going to show you Etoro Review Australia.
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