Not really having the full amount of capital…Bitboy Youtube… so with anything that you’re finding out about please do study the platform don’t simply assume since i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative also so you in fact get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re purchasing real companies if you pick to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something because that person has said they have actually made profit 14 months in a row purchase these choices due to the fact that 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 probably.
famous for it’s the choice to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can really state i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included actually crucial you comprehend 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 purchasing the selling for you there’s going to be charges involved and even some of the zero fee sites then might not charge you for really buying and selling etfs or funds individual products private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs 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 know prior to you actually begin buying copy trading or copy portfolios and finally some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs truly crucial to understand these now on there’s a number of costs there isn’t fees to do with really buying and selling alright so commission costs are complimentary nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s instantly 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 products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you may state alright that’s quite pricey and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just one of those choices that they have a great deal of platforms undoubtedly are totally 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 when every 6 months you understand depends entirely how you’re investing however that is a charge to keep 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 a choice to buy in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they in fact offering 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 provide me us dollars rather you have to pay their fees now the great aspect of however when you’ve transformed your cash you do not need to invest it right now that dollar worth can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 extra costs so that’s truly great using that part of their site won’t definitely restrict you in any way however we have to know 2 other charges the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread charge as i’m going to reveal you Bitboy Youtube.
Overall, traders who use EToro in Trading 212 will discover it to be one of the very best and simplest platforms to use. You are offered lots of alternatives with this software and you can configure it however you see fit. This makes it extremely flexible and user friendly. Plus, you get trading signals provided right to you, which is a huge plus. So, if you’re seeking to start trading the forex market however don’t know which system to select, then this might be precisely what you need.