Not in fact having the total of capital…Etoro Social Trading Review… so with anything that you’re learning about please do study the platform don’t just presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used 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 risk this is investing we’re doing you’re investing in genuine companies if you select to in this specific video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually said they have actually made profit 14 months in a row invest in these choices since you think is the ideal ones for you and that being said let’s dive directly in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the choice to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so 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 choices and essentially every time they make a trade they purchase they offer whatever they do your cash will be imitated 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 also cover is the costs included truly important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real 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 absolutely no charge websites then might not charge you for actually buying and selling funds or etfs specific commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 investing in copy trading or copy portfolios and finally some best advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs truly important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling all right so commission charges are free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can certainly put money in now if you remain 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 on but when you want to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you may state all right 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 costs are just one of those choices that they have a lot of platforms undoubtedly are free 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 as soon as every six months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that matches me.
a lot 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 utilize anybody so if you’re utilizing trading two and 2 free trade anybody this is basic they have i expect stuck to whatever charge 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 cost exists what are they really providing 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 have to pay their fees now the great feature of though when you’ve converted your money you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good using that part of their website won’t certainly restrict you in any way nevertheless we have to be aware of two other charges the very first being what’s called spread costs okay and i’m going to reveal you what i imply on now a spread charge as i’m going to show you Etoro Social Trading Review.
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