Not in fact having the full amount of capital…Etoro Islamic Account Review… so with anything that you’re learning more about please do study the platform don’t simply presume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you actually 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 naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your money so obviously your capital is at risk and we have to bear that in mind do not just do something because that individual has stated they’ve made earnings 14 months in a row buy these choices due to the fact that you think is the best ones for you and that being said 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 aspect that is most likely.
well-known for it’s the choice to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that suggests 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 likewise cover is the fees included truly vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine 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 cost websites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts possibly 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 charges with in particular in this video the next would be things to know prior to you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with costs actually essential to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other fees the very first one is withdrawal charges so you can obviously put money 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 on but when you want to withdraw your cash so you sell your shares you sell 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 of course understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine 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 fees are just among those alternatives that they have a lot of platforms undoubtedly are totally 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 when every six months you know depends totally how you’re investing but that is a charge to remember the second fee that i have actually discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 give me us dollars instead you need to pay their fees now the excellent feature of though when you’ve converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary 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 fees so that’s really good utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread fees alright and i’m going to reveal you what i mean on now a spread fee as i’m going to reveal you Etoro Islamic Account Review.
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