Not in fact having the full amount of capital…Etoro Follow Crypto Traders… so with anything that you’re learning about please do study the platform do not just presume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too 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 naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something because that person has said they’ve made earnings 14 months in a row buy these options since you think is the best ones for you and that being said let’s dive directly in [Music] The 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 element that is probably.
famous for it’s the choice to see what other traders are doing extraordinary we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do precisely what that trader is doing or match that precise portfolio of options and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included truly crucial you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine business 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 charge websites then might not charge you for actually buying and selling etfs or funds specific products individual stocks.
there’ll be costs on other parts possibly 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 show you the costs with in particular in this video the next would be things to know before you really begin investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s begin with fees actually important to comprehend these now on there’s a number of charges there isn’t costs to do with in fact buying and selling all right so commission fees are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously 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 later but when you want to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously understanding that i’m going to make sure 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 costs someplace and withdrawal fees are simply among those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a fee to bear in mind the 2nd cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk which’s fine that matches me.
a great deal 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 fee now when you use anyone so if you’re using trading 2 and two open market anyone at all this is standard they have actually i suppose stuck with whatever cost 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 really providing 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 say provide me us dollars rather you have to pay their fees now the terrific feature of though when you’ve converted your money you do not have to invest it right away that dollar value can being 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 extra costs so that’s really excellent using that part of their website will not definitely restrict you in any way however we have to be aware of two other fees the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Etoro Follow Crypto Traders.
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