Not in fact having the total of capital…Etoro 2021 Review… so with anything that you’re learning about please do study the platform do not simply assume since i utilize 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 option as well so you in fact get used to the structure of the site and after that when you’re ready to use 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 business if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that person has actually said they’ve made earnings 14 months in a row invest in these options due to the fact that you think is the best ones for you which 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 becomes part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved really critical you understand what are the costs of this now with any platform there will be some cost to certainly 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 zero fee websites then may not charge you for in fact buying and selling funds or etfs individual products individual stocks.
there’ll be costs on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type 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 really begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with charges truly essential to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling alright so commission costs are totally free however there are a couple of other costs the very first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you want 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 obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state okay that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge costs someplace 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 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every 6 months you understand depends entirely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually discussed is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk which’s fine that suits me.
a great deal 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 charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have actually i suppose stuck with whatever cost they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee exists what are they really providing 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 give me us dollars instead you need to pay their costs now the excellent aspect of however when you have actually converted your cash you do not have to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates 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 additional costs so that’s really excellent using that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other costs the very first being what’s called spread charges alright and i’m going to reveal you what i indicate on now a spread cost as i’m going to reveal you Etoro 2021 Review.
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