Not in fact having the total of capital…Bitboy Founder… so with anything that you’re learning about please do study the platform don’t simply presume due to the fact that i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you really get used to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re buying genuine companies if you select to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at danger and we need to bear that in mind do not simply do something because that individual has actually stated they have actually made revenue 14 months in a row purchase these options due to the fact that you believe is the right ones for you and that being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
popular for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they buy they offer whatever they do your money will be simulated with it so that indicates if for instance 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 vital you understand what are the expenses of this now with any platform there will be some cost to obviously these are genuine companies 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 cost websites then might not charge you for in fact buying and selling etfs or funds individual products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering 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 fees with in particular in this video the next would be things to know before you in fact start buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s start with charges really important to comprehend these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission costs are complimentary nevertheless there are a couple of other costs the first one is withdrawal fees so you can certainly put cash in now if you’re 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 on however when you want to withdraw your cash so you offer your shares you sell 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i absolutely require to now you might state fine that’s quite expensive 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 among those alternatives that they have a lot of platforms clearly are complimentary 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 when every 6 months you know depends totally how you’re investing but that is a cost to keep in mind the 2nd charge that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and state provide me us dollars rather you need to pay their costs now the terrific aspect of though when you have actually converted your money you do not have to invest it immediately 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 purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s truly good utilizing that part of their website won’t certainly restrict you in any way nevertheless we have to be aware of two other fees the first being what’s called spread costs fine and i’m going to reveal you what i mean on now a spread cost as i’m going to reveal you Bitboy Founder.
In general, traders who utilize EToro in Trading 212 will find it to be one of the best and easiest platforms to utilize. You are offered numerous choices with this software and you can configure it however you see fit. This makes it really flexible and easy to use. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market but don’t know which system to choose, then this may be precisely what you require.