Not actually having the total of capital…Etoro Wallet Review… so with anything that you’re discovering please do study the platform don’t just presume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative also so you in fact get utilized to the structure of the website and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real business if you pick to in this specific video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk 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 options because you think 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 element that is probably.
well-known for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually 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 money will be simulated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs included really critical you understand 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 absolutely no charge websites then might not charge you for really buying and selling funds or etfs individual products individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to understand before you actually begin investing in copy trading or copy portfolios and finally some finest suggestions best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling all right so commission costs are complimentary however there are a couple of other costs the very first one is withdrawal charges so you can clearly put money 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 however when you wish to withdraw your money so you offer your shares you offer your products whatever you’re offering 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may state fine that’s quite pricey 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 one of those choices that they have a great deal of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every 6 months you understand depends completely how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that suits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish 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 provide me us dollars instead you have to pay their charges now the excellent aspect of however when you’ve transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand two other charges the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread fee as i’m going to show you Etoro Wallet Review.
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