Not in fact having the total of capital…How To Close Crypto Trade On Etoro… so with anything that you’re discovering please do study the platform do not just assume since i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you in fact get used to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re speaking about how to copy other individuals’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row invest in these options since you think is the right ones for you and that being stated 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’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 unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually state i want to do precisely what that trader is doing or match that precise portfolio of choices and generally each time they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the zero charge sites then might not charge you for actually buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission costs are free nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put cash 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 in the future but when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i definitely need to now you might state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among those choices that they have a great deal 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 perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a cost to keep in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two open market anyone at all this is basic they have i expect stuck with whatever charge they charge for that conversion rate you type of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually 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 provide me us dollars instead you have to pay their charges now the excellent thing about though when you’ve transformed 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 implies the preliminary 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 great utilizing that part of their website won’t certainly limit you in any way however we need to know 2 other fees the very first being what’s called spread charges all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you How To Close Crypto Trade On Etoro.
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