Not really having the total of capital…Etoro Open Book Review… so with anything that you’re finding out about please do study the platform do not simply assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option as well so you really get utilized 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 naturally your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row buy these options since you believe is the ideal ones for you and that being said 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 most likely.
popular for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can really say i want to do exactly what that trader is doing or match that exact portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests if for example 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 charges included really vital you comprehend what are the costs of this now with any platform there will be some cost to clearly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 thinking about this as a tool whether you begin your journey or your advanced investor so let’s kick off with fees truly essential to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling fine so commission charges are free however there are a number of other costs the first one is withdrawal charges so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you want to withdraw your cash so you sell 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 of course knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state okay that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just one of those choices that they have a great deal of platforms undoubtedly are complimentary 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 remember the second charge that i have actually discussed is that conversion charge now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even 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 utilizing trading two and 2 open market anyone at all this is basic they have i suppose stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee 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 state provide me us dollars rather you have to pay their fees now the great aspect of though when you’ve transformed your cash you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that indicates 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 charges so that’s really good utilizing that part of their site won’t certainly limit you in any way however we have to understand two other charges the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you Etoro Open Book Review.
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