Not actually having the full amount of capital…Bitboy Crypto Ftx… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they consider that choice as well so you in fact get used to the structure of the website 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 risk this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other people’s investments with your cash so undoubtedly your capital is at threat and we have to bear that in mind do not just do something because that person has said they have actually made earnings 14 months in a row invest in these options due to the fact that you think is the ideal ones for you and that being said let’s dive straight 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’s part of social trading which is one aspect that is most likely.
famous for it’s the option to see what other traders are doing unbelievable we don’t usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be mimicked with it so that indicates 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 likewise cover is the fees included really critical you comprehend what are the costs of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no fee websites then may not charge you for really buying and selling funds or etfs specific products specific stocks.
there’ll be costs on other parts possibly 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 show you the charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually crucial to comprehend these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission charges are complimentary nevertheless there are a couple of other fees the first one is withdrawal charges so you can undoubtedly 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 in the future but when you wish to withdraw your cash so you offer 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 certain that i’m only withdrawing when i definitely require to now you may say alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just one of those choices that they have a lot of platforms undoubtedly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a cost to bear in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is basic they have i expect stuck to whatever charge they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually offering 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 state offer me us dollars rather you have to pay their charges now the fantastic feature of though when you have actually converted your cash you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional charges so that’s really great utilizing that part of their site won’t certainly restrict you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread costs fine and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Ftx.
In general, traders who utilize EToro in Trading 212 will discover it to be among the best and simplest platforms to use. You are given lots of options with this software application and you can configure it nevertheless you choose. This makes it extremely 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 understand which system to pick, then this may be exactly what you need.