Not actually having the total of capital…Etoro Review Copy Trader… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you actually get utilized 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 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 individuals’s investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that person has said they’ve made revenue 14 months in a row buy these choices because you think is the best ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
famous for it’s the alternative to see what other traders are doing amazing we do not 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 cash we can in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and generally each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly 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 a few of the zero cost websites then may not charge you for in fact buying and selling funds or etfs individual products specific stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges 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 before you really start investing in copy trading or copy portfolios and finally some finest guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges really essential to understand these now on there’s a couple of fees there isn’t costs to do with actually buying and selling all right so commission charges are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can clearly put money in now if you’re in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that in the future but when you wish 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 sure that i’m only withdrawing when i absolutely require to now you might say alright that’s rather pricey 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 among those alternatives that they have a lot of platforms clearly are complimentary 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 entirely how you’re investing but that is a cost to remember the second charge that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two open market anyone at all this is basic they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you want to utilize 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 state give me us dollars rather you need to pay their charges now the fantastic feature of however when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s actually great utilizing that part of their website won’t definitely restrict you in any way however we have to be aware of 2 other fees the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Etoro Review Copy Trader.
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