Not really having the full amount of capital…Etoro Copy Trade Review… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that choice as well so you actually get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at threat this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row purchase these options because you believe is the ideal ones for you which being stated let’s dive directly 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.
famous for it’s the choice to see what other traders are doing incredible we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that indicates 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 also cover is the costs involved truly important you understand what are the expenses of this now with any platform there will be some expense to certainly 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 some of the no cost sites then may not charge you for in fact buying and selling funds or etfs specific commodities 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 type of fees associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you really start buying copy trading or copy portfolios and finally some best suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with fees actually crucial to comprehend these now on there’s a number of charges there isn’t fees to do with really buying and selling alright so commission charges are complimentary nevertheless there are a number of other charges the first one is withdrawal fees so you can obviously put money 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 but when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i absolutely need to now you might say all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are simply among those alternatives 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 mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing however that is a fee to bear in mind the second fee that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and two open market anyone at all this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they in fact giving 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 give me us dollars rather you have to pay their fees now the fantastic thing about however when you have actually transformed your money you do not need to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent using that part of their site won’t definitely limit you in any way however we need to be aware of two other costs the first being what’s called spread charges fine and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Etoro Copy Trade Review.
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