Not actually having the full amount of capital…Etoro Crypto Reddit… so with anything that you’re learning more about please do study the platform do not simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that alternative as well so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course 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 people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something because that individual has said they’ve made earnings 14 months in a row buy these options because you believe is the right 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage 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 precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your cash will be simulated with it so that suggests if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some expense to certainly these are real 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 no fee websites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 understand before you actually start purchasing copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s begin with costs actually crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling all right so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you sell your shares you sell your commodities 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 obviously knowing that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are just one of those options that they have a lot of platforms undoubtedly are complimentary 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 once every six months you know depends completely how you’re investing however that is a fee to keep in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow 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 charge now when you use anybody so if you’re using trading 2 and two free trade anyone at all this is basic they have actually i expect 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 fee exists what are they in fact 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 state offer me us dollars instead you need to pay their charges now the great thing about though when you’ve transformed your cash you do not have to invest it right now that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent utilizing that part of their website will not 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 all right and i’m going to reveal you what i mean on now a spread charge as i’m going to show you Etoro Crypto Reddit.
You are provided numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market but do not understand which system to pick, then this might be precisely what you require.