Not really having the total of capital…Bitboy Merch… so with anything that you’re discovering please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash 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 utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that person has actually stated they’ve made revenue 14 months in a row buy these choices since you think is the best ones for you which being stated let’s dive directly 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 belongs to 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 do not usually get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do exactly what that trader is doing or match that exact portfolio of options and basically every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that implies if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved really important you comprehend what are the costs of this now with any platform there will be some cost to obviously these are genuine business 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 cost sites then may not charge you for really buying and selling etfs or funds individual commodities private stocks.
there’ll be charges on other parts perhaps 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 show you the costs with in particular in this video the next would be things to understand prior to you in fact start buying 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 advanced financier so let’s kick off with fees actually crucial to understand these now on there’s a couple of charges there isn’t fees to do with actually buying and selling all right so commission charges are free however there are a couple of other charges the very first one is withdrawal charges so you can clearly put money in now if you remain 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 but when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely require to now you might say 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 one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every 6 months you understand depends totally how you’re investing however that is a fee to remember the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not a choice to purchase in euros or uk which’s great that suits me.
a lot 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 use anybody so if you’re utilizing trading two and 2 free trade anybody this is standard they have actually i suppose stuck with whatever charge they charge for that conversion rate you sort of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee is there what are they really giving 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 offer me us dollars instead you have to pay their charges now the excellent feature of however when you’ve transformed your cash you do not have to invest it immediately 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 convert 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 great utilizing that part of their site won’t certainly restrict you in any way nevertheless we need to be aware of two other charges the first being what’s called spread fees alright and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Merch.
In general, traders who utilize EToro in Trading 212 will discover it to be among the best and most convenient platforms to use. You are given many options with this software and you can configure it nevertheless you choose. This makes it very versatile and user friendly. Plus, you get trading signals provided right to you, which is a big plus. If you’re looking to begin trading the forex market but don’t understand which system to choose, then this may be exactly what you require.