Not really having the full amount of capital…Etoro Money Card Review… so with anything that you’re learning more about please do study the platform do not simply presume because i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the website and then when you’re ready to utilize 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 talking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that person has stated they’ve made revenue 14 months in a row purchase these options because you think is the best ones for you which being stated 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 aspect that is most likely.
famous for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can really say i want to do exactly what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they offer whatever they do your money will be simulated with it so that suggests 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 truly important you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 no charge sites then may not charge you for really buying and selling etfs or funds specific commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 understand before you actually begin buying 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 more advanced investor so let’s begin with fees truly crucial to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling fine so commission fees are free nevertheless there are a number of other charges the first one is withdrawal charges so you can obviously put money in now if you’re 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 in the future however when you wish to withdraw your cash so you offer your shares you offer your products whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply one of those options that they have a great deal of platforms clearly 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 as soon as every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow 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 fee now when you utilize anyone so if you’re using trading two and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to use their platform go from uk to us then that conversion fee is there what are they actually offering 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 provide me us dollars instead you need to pay their charges now the terrific aspect of though when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means 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 extra costs so that’s really good using that part of their site won’t certainly restrict you in any way however we have to be aware of two other fees the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Etoro Money Card Review.
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