Not actually having the total of capital…Crypto Etoro… so with anything that you’re finding out about please do study the platform don’t simply assume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual money they give that choice too so you really get used 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 naturally your capital is at threat this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so certainly your capital is at danger and we need to bear that in mind do not simply do something because that individual has said they have actually made profit 14 months in a row purchase these choices because you believe is the best ones for you and that being stated let’s dive straight 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 most likely.
popular for it’s the alternative to see what other traders are doing incredible we don’t generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they purchase they offer whatever they do your money will be simulated with it so that suggests 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 actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even a few of the absolutely no charge sites then may not charge you for really buying and selling funds or etfs specific commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 understand prior to you in fact start buying copy trading or copy portfolios and finally some finest advice 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 truly important to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling alright so commission fees are complimentary nevertheless there are a couple of other costs the very first one is withdrawal charges so you can undoubtedly 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 in the future however when you want 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may state all right that’s quite costly and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are just one of 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 mainly it can be perhaps even once a year as soon as every six months you understand depends entirely how you’re investing however that is a cost to remember the second cost that i have actually touched upon is that conversion fee now with you’re dealing in 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 anyway or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two open market anybody this is standard they have actually i expect stuck to whatever cost they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion cost exists what are they in fact offering 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 instead you need to pay their costs now the excellent thing about however when you’ve converted your cash you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that suggests the initial 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 additional costs so that’s really great utilizing that part of their website will not certainly limit you in any way however we need to understand two other charges the first being what’s called spread charges okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Crypto Etoro.
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