Not actually having the full amount of capital…Why Does Etoro Have Bad Reviews… so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i utilize 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 also so you really get utilized to the structure of the site and after that when you’re ready to use 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 genuine business if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row invest in these options since you think is the best ones for you and that being stated let’s dive straight in [Music] 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 alternative to see what other traders are doing incredible we do not normally get that insight from a lot 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 exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for example 10 of their investment portfolio remains 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 really vital you comprehend what are the costs of this now with any platform there will be some cost to certainly these are real 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 no charge websites then may not charge you for really buying and selling funds or etfs individual products 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 type of fees 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 know before you really begin purchasing copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with charges truly essential to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission costs are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your money so you sell your shares you offer your products 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those choices that they have a great deal of platforms undoubtedly are totally 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 once every 6 months you know depends totally how you’re investing however that is a cost to keep in mind the second fee 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 and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anyone so if you’re using trading two and two open market anybody this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of need to accept you understand if you wish 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 offer me us dollars rather you need to pay their charges now the excellent thing about however when you’ve transformed your cash you do not have to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually excellent utilizing that part of their site won’t definitely limit you in any way nevertheless we have to know two other fees the very first being what’s called spread charges fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Why Does Etoro Have Bad Reviews.
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