Not in fact having the full amount of capital…Best Crypto Trader Etoro… so with anything that you’re finding out about please do study the platform don’t simply assume since i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative as well so you in fact get utilized 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 of course your capital is at danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re speaking about how to copy other people’s investments with your cash so clearly your capital is at danger and we need to bear that in mind do not just do something since that person has actually said they have actually made earnings 14 months in a row invest in these choices since you think is the ideal ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s 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 don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact state i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they buy they offer whatever they do your money will be mimicked with it so that means if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly important you understand what are the costs of this now with any platform there will be some cost to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no fee sites then may not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 finest suggestions best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs actually crucial to understand these now on there’s a couple of charges there isn’t charges to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other charges the very first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
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 cash so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might state fine that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms certainly are 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 6 months you know depends totally how you’re investing but that is a cost to keep in mind the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 free trade anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they actually 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 state offer me us dollars instead you have to pay their charges now the great aspect of though when you’ve converted your cash you do not need to invest it right now that dollar worth can being 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 takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually good utilizing that part of their website won’t definitely restrict you in any way nevertheless we need to be aware of 2 other charges the very first being what’s called spread fees okay and i’m going to show you what i mean on now a spread charge as i’m going to show you Best Crypto Trader Etoro.
You are provided many options with this software and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however don’t understand which system to pick, then this might be exactly what you require.