Not in fact having the total of capital…Etoro Money Account Review… so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something because that individual has said they’ve made earnings 14 months in a row purchase these options due to the fact that you think is the ideal ones for you which 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 aspect that is probably.
well-known for it’s the choice to see what other traders are doing incredible we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can in fact say i wish to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved truly crucial you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly these are real 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 zero fee sites then may not charge you for in fact buying and selling etfs or funds private products individual 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 kinds of charges 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 begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling fine so commission costs are complimentary nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s automatically 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 commodities 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 ensure that i’m only withdrawing when i absolutely require to now you might say okay that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are just one of those alternatives that they have a great deal of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a fee to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s great that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and two free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they really offering you in terms of 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 offer me us dollars instead you need to pay their fees now the terrific aspect of however when you’ve converted your money you do not need to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other costs the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread charge as i’m going to show you Etoro Money Account Review.
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