Not actually having the full amount of capital…Should I Use Etoro For Crypto… so with anything that you’re learning about please do study the platform do not simply assume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get used to the structure of the website and then when you’re ready to utilize 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 purchasing genuine companies if you choose to in this specific video we’re talking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something because that person has actually stated they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending 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 alternative to see what other traders are doing amazing we do not generally 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 money we can in fact state i want to do precisely what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that suggests if for example 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 costs involved truly vital you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero cost websites then may not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of fees 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 understand before you in fact begin buying copy trading or copy portfolios and finally some best advice best practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with charges really essential to understand these now on there’s a number of charges there isn’t fees to do with really buying and selling all right so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal charges so you can clearly put money in now if you’re 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 cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just among those choices that they have a lot of platforms obviously are free 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 totally how you’re investing but that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and two free trade anyone at all this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost is there what are they in fact 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 state provide me us dollars rather you have to pay their fees now the terrific aspect of though when you have actually converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as money 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 happens now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent utilizing that part of their site won’t definitely restrict you in any way however we need to know 2 other fees the very first being what’s called spread costs alright and i’m going to show you what i mean on now a spread charge as i’m going to show you Should I Use Etoro For Crypto.
You are offered many alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but don’t understand which system to choose, then this might be precisely what you need.