Not really having the full amount of capital…Etoro Copyfund Review… so with anything that you’re learning more about please do study the platform do not simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something since that person has actually stated they’ve made earnings 14 months in a row buy these options because you believe is the best ones for you which 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 aspect that is probably.
popular for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your money will be imitated 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 money in so we’re going to also cover is the fees involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero fee sites then might not charge you for in fact buying and selling funds or etfs private products specific stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of charges 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 know prior to you really begin buying copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling all right so commission fees are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can certainly put cash 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 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say all right that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just one of those choices that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a cost to remember the second charge that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion fee exists what are they actually giving you in regards to your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and say provide me us dollars rather you have to pay their charges now the terrific feature of though when you’ve converted your money you do not need to invest it right now that dollar value can being in your portfolio as cash 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 occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good using that part of their website will not certainly limit you in any way however we need to understand 2 other fees the very first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Etoro Copyfund Review.
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