Not in fact having the full amount of capital…Etoro Business Review… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you really get utilized to the structure of the site 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 danger this is investing we’re doing you’re purchasing real companies if you select to in this particular video we’re speaking about how to copy other people’s investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made profit 14 months in a row invest in these choices since you think is the best 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 becomes part of social trading which is one aspect that is probably.
well-known for it’s the alternative to see what other traders are doing incredible we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can really say i wish to do precisely what that trader is doing or match that exact portfolio of options and essentially each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that implies if for instance 10 of their financial investment portfolio is 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 actually critical you comprehend what are the costs of this now with any platform there will be some expense to undoubtedly 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 some of the zero charge websites then might not charge you for actually buying and selling funds or etfs individual commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of fees 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 know before you actually start buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs truly crucial to comprehend these now on there’s a couple of charges there isn’t charges to do with actually buying and selling okay so commission charges are totally free however there are a number of other costs 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 on but when you want to withdraw your money so you offer your shares you offer your products whatever you’re offering 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 just withdrawing when i definitely require to now you may state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those choices that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you know depends entirely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk and that’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 excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have i expect stuck with 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 charge is there what are they actually giving you in terms of 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 rather you need to pay their fees now the fantastic aspect of though when you have actually transformed your money 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 preliminary day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their site will not certainly restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread fees all right and i’m going to show you what i imply on now a spread charge as i’m going to show you Etoro Business Review.
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