Not actually having the full amount of capital…Etoro Uk Reviews… so with anything that you’re finding out about please do study the platform do not just presume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option too so you actually get used to the structure of the website and then when you’re ready to use 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 buying genuine companies if you select to in this particular video we’re talking about how to copy other people’s financial investments with your cash so clearly 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 revenue 14 months in a row invest in these choices since you think is the ideal ones for you which being stated let’s dive straight in [Music] so the important 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 most likely.
famous for it’s the choice to see what other traders are doing incredible we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they sell whatever they do your cash will be mimicked 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 likewise cover is the fees involved really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine companies 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 zero cost sites then may not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to understand before you really start investing in copy trading or copy portfolios and finally some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with charges actually crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling okay so commission costs are free nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put cash in now if you remain 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 on however 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 five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might say all right that’s quite costly 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 simply among those alternatives that they have a lot 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 perhaps even once a year when every 6 months you understand depends entirely how you’re investing however that is a charge to bear in mind the second fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you use anybody so if you’re using trading two and 2 open market anybody this is standard they have actually i expect 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 charge is there what are they really offering 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 say give me us dollars rather you need to pay their fees now the terrific aspect of however when you have actually transformed your money you do not have to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s actually great using that part of their site will not certainly limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread charge as i’m going to show you Etoro Uk Reviews.
Overall, traders who use EToro in Trading 212 will discover it to be among the very best and most convenient platforms to use. You are provided numerous alternatives with this software application and you can configure it nevertheless you choose. This makes it really flexible and user friendly. Plus, you get trading signals provided right to you, which is a huge plus. So, if you’re aiming to start trading the forex market but don’t know which system to pick, then this may be exactly what you need.