Not really having the total of capital…Reddit Etoro Review… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that option also so you in fact get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re speaking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not just do something because that person has stated they have actually made earnings 14 months in a row buy these options due to the fact that you believe is the right 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.
famous for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that implies with our cash 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 purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 10 of their financial 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 included actually important you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real companies 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 cost websites then may not charge you for in fact buying and selling etfs or funds specific products private 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 sort of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact start investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s kick off with costs truly important to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are free however there are a couple of other charges the very first one is withdrawal costs 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 later on but when you want to withdraw your cash so you offer your shares you offer 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 naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely require to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are simply among those alternatives that they have a great deal of platforms obviously 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 once every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they really giving you in terms of 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 instead you need to pay their charges now the excellent aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial 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 additional charges so that’s actually great utilizing that part of their site won’t certainly limit you in any way however we need to know 2 other charges the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you Reddit Etoro Review.
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