Not actually having the total of capital…Trading On Etoro Review… so with anything that you’re discovering please do study the platform do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you actually get used to the structure of the site and after that when you’re ready to use 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 investing in real business if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they’ve made profit 14 months in a row invest in these choices because you think is the best ones for you and that being said let’s dive directly 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.
popular for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our cash we can actually say i want to do exactly what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that means if for instance 10 of their 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 charges involved really critical you understand what are the costs of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero fee sites then may not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 really begin buying copy trading or copy portfolios and finally some finest advice finest practices if you are considering this as a tool whether you begin your journey or your advanced investor so let’s kick off with costs really crucial to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling alright so commission costs are totally free nevertheless there are a number of other costs the very first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money 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 make certain that i’m just withdrawing when i absolutely need to now you may state alright 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 just one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing however that is a cost to bear in mind the second charge that i have actually touched upon is that conversion fee now with you’re handling us dollars only 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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and two free trade anyone at all this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact offering 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 fees now the great feature of though when you have actually transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s truly good utilizing that part of their site won’t certainly restrict you in any way however we have to be aware of two other costs the first being what’s called spread charges all right and i’m going to reveal you what i mean on now a spread fee as i’m going to show you Trading On Etoro Review.
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