Not in fact having the full amount of capital…Bitboy Crypto Family… so with anything that you’re learning more about please do study the platform don’t just assume because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual cash they give that option too so you in fact get utilized 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 danger 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 clearly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row invest in these choices due to the fact that 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 understanding 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 extraordinary we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that implies with our money we can really say i wish to do exactly what that trader is doing or match that exact portfolio of choices and generally every time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that means if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges included truly important you understand what are the expenses of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for actually buying and selling etfs or funds individual commodities individual 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 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 understand 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 begin your journey or your more advanced investor so let’s kick off with fees truly important to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling fine so commission costs are totally free nevertheless there are a number of other charges the very first one is withdrawal charges so you can clearly put cash 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 on however when you wish to withdraw your money so you sell your shares you sell your commodities 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 absolutely need to now you might say alright that’s quite expensive 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 alternatives that they have a lot of platforms clearly are complimentary 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 6 months you understand depends totally how you’re investing but that is a fee to keep in mind the 2nd fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re utilizing trading 2 and two open market anybody this is standard they have actually i expect stuck to whatever charge 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 actually 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 state give me us dollars instead you have to pay their charges now the excellent feature of however when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary 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 additional costs so that’s really good utilizing that part of their website won’t certainly restrict you in any way however we have to know two other fees the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Crypto Family.
In general, traders who utilize EToro in Trading 212 will discover it to be one of the best and easiest platforms to utilize. You are given lots of alternatives with this software application and you can configure it nevertheless you please. This makes it really versatile and easy to use. Plus, you get trading signals provided right to you, which is a huge plus. If you’re looking to begin trading the forex market but do not understand which system to pick, then this may be precisely what you require.