Not in fact having the total of capital…Etoro Singapore Review… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice also so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they have actually made earnings 14 months in a row purchase these options since 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 element that is probably.
well-known for it’s the option to see what other traders are doing unbelievable we don’t generally 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 in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be imitated with it so that suggests if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved actually vital you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 might not charge you for actually buying and selling etfs or funds private products specific 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 costs associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you really begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s start with costs truly crucial to understand these now on there’s a couple of fees there isn’t fees to do with actually buying and selling okay so commission costs are complimentary however there are a number of other costs the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you sell your commodities 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 certain that i’m only withdrawing when i definitely need to now you might state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a cost to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’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 great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to use their platform go from uk to us then that conversion charge exists what are they really offering you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle 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 thing about though when you’ve transformed your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means 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 fees so that’s truly good using that part of their site will not definitely limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Etoro Singapore Review.
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