Not in fact having the total of capital…Etoro Copy Trader Review… so with anything that you’re learning about please do study the platform don’t simply assume because 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 consider that choice too so you really get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine companies if you choose to in this particular video we’re discussing how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not just do something since that individual has stated they’ve made earnings 14 months in a row purchase these choices because you believe is the ideal ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included actually vital you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then may not charge you for actually buying and selling etfs or funds individual commodities individual stocks.
there’ll be costs 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 charges with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees truly important to understand these now on there’s a number of charges there isn’t charges to do with really buying and selling alright so commission charges are free nevertheless there are a number of other fees the first one is withdrawal fees so you can undoubtedly 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 later however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum amount 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 only withdrawing when i definitely require to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal charges are just one of those alternatives that they have a lot of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing however that is a fee to bear in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost 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 fee exists what are they in fact giving you in regards to 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 instead you have to pay their costs now the excellent aspect of however when you’ve converted your money you do not need to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s truly good using that part of their site will not definitely limit you in any way nevertheless we need to understand two other charges the first being what’s called spread costs okay and i’m going to show you what i indicate on now a spread charge as i’m going to show you Etoro Copy Trader Review.
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