Not in fact having the total of capital…Big Boy Jeans… so with anything that you’re discovering please do study the platform don’t just assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative as well so you actually get used 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 obviously your capital is at threat this is investing we’re doing you’re investing in genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they’ve made profit 14 months in a row invest in these choices since you think is the right ones for you which being said 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 element that is probably.
popular for it’s the alternative 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 and so that means with our cash we can in fact state i wish to do exactly what that trader is doing or match that precise portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 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 likewise cover is the costs involved actually critical you understand what are the expenses of this now with any platform there will be some expense to undoubtedly 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 absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs individual commodities private 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 kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you actually begin buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with fees actually crucial to understand these now on there’s a couple of costs there isn’t costs to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a number of other fees the first one is withdrawal charges so you can clearly put money in now if you’re 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 in the future however when you want to withdraw your money so you offer your shares you sell 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may state alright that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just among those options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing but that is a cost to remember the 2nd fee 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 and that’s great that fits me.
a great deal of my stocks are us dollar stocks anyway 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 fee now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to use their platform go from uk to us then that conversion cost exists what are they really giving 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 say provide me us dollars instead you have to pay their charges now the fantastic feature of though when you’ve transformed your cash you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert 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 really great using that part of their site will not certainly limit you in any way however we have to understand two other costs the first being what’s called spread costs okay and i’m going to reveal you what i mean on now a spread cost as i’m going to show you Big Boy Jeans.
Overall, traders who utilize EToro in Trading 212 will find it to be one of the very best and simplest platforms to use. You are provided lots of choices with this software application and you can configure it nevertheless you see fit. This makes it very flexible and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market but don’t know which system to pick, then this might be exactly what you need.