Not really having the full amount of capital…Bitboy Book… so with anything that you’re learning more about please do study the platform do not just presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that option too so you in fact get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something because that individual has stated they have actually made profit 14 months in a row invest in these choices because you believe is the right ones for you which being stated let’s dive directly in [Music] 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 element that is probably.
famous for it’s the choice to see what other traders are doing amazing we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really state i wish to do exactly what that trader is doing or match that precise portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your cash will be imitated with it so that implies if for example 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 important you understand what are the costs 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 involved and even a few of the absolutely no charge sites then may not charge you for actually buying and selling funds or etfs specific 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 sort of fees 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 prior to you really begin purchasing copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with fees really essential to comprehend these now on there’s a number of fees there isn’t costs to do with in fact buying and selling all right so commission fees are free however there are a couple of other charges 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 later however when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i definitely require to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are just one of those alternatives that they have a great deal of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a charge to remember the second fee that i have actually touched upon is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great 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 two free trade anybody this is basic they have actually i expect 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 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 give me us dollars rather you have to pay their costs now the terrific thing about however when you’ve transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money 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 fees so that’s actually great using that part of their website will not definitely limit you in any way nevertheless we need to be aware of 2 other costs the first being what’s called spread charges alright and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Book.
In general, traders who utilize EToro in Trading 212 will discover it to be among the very best and simplest platforms to utilize. You are offered lots of choices with this software and you can configure it nevertheless you choose. This makes it extremely versatile and user friendly. Plus, you get trading signals provided right to you, which is a big plus. So, if you’re aiming to start trading the forex market but do not know which system to pick, then this may be precisely what you require.