Not actually having the full amount of capital…Copy Trader Etoro Review… so with anything that you’re discovering please do study the platform do not just presume because i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative also so you in fact get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row buy these options since you believe is the right ones for you which being said let’s dive directly in [Music] so the 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 element that is probably.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our cash we can in fact state i want to do precisely what that trader is doing or match that exact portfolio of alternatives and essentially every time they make a trade they buy they offer whatever they do your cash 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 also cover is the charges included truly important you understand what are the expenses of this now with any platform there will be some cost to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee sites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing 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 understand prior to you in fact start purchasing 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 number of costs there isn’t charges to do with actually buying and selling all right so commission costs are totally free however there are a number of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you remain 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 later however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum amount 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 might say all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a charge to remember the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading two and 2 free trade anybody this is basic they have actually i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact giving 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 provide me us dollars rather you need to pay their costs now the fantastic feature of though when you’ve converted your cash you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really great using that part of their website will not certainly limit you in any way nevertheless we need to understand two other charges the first being what’s called spread costs all right and i’m going to show you what i mean on now a spread charge as i’m going to show you Copy Trader Etoro Review.
In general, traders who use EToro in Trading 212 will find it to be one of the very best and easiest platforms to use. You are given numerous options with this software application and you can configure it nevertheless you please. This makes it very versatile and user friendly. Plus, you get trading signals provided right to you, which is a huge plus. So, if you’re looking to start trading the forex market however don’t understand which system to pick, then this may be precisely what you need.