Not really having the full amount of capital…Bitboy Merchandise… so with anything that you’re discovering please do study the platform don’t simply presume since i use it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they give that choice too so you really get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not simply do something since that person has actually stated they have actually made profit 14 months in a row buy these options due to the fact that you think is the right ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
well-known for it’s the option to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally each time they make a trade they buy they offer whatever they do your money will be simulated with it so that means if for example 10 of their 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 costs involved truly vital you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly 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 no charge websites then may not charge you for in fact buying and selling etfs or funds private commodities specific stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you really begin purchasing copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s kick off with costs really crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling alright so commission charges are totally free however there are a number of other charges the very first one is withdrawal costs 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 sell your shares you offer your products whatever you’re selling 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 make sure that i’m just withdrawing when i absolutely require to now you may state fine that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal costs are simply among 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 six months you understand depends completely how you’re investing but that is a cost to remember the 2nd fee that i’ve touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that fits me.
a lot of my stocks are us dollar stocks anyhow 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 cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually providing 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 give me us dollars rather you have to pay their fees now the terrific thing about though when you have actually transformed your cash you do not need to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that indicates the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really excellent using that part of their website will not definitely limit you in any way nevertheless we have to understand two other charges the very first being what’s called spread charges fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Merchandise.
In general, traders who use EToro in Trading 212 will find it to be among the best and easiest platforms to use. You are given numerous options with this software application and you can configure it however you choose. This makes it extremely versatile and user friendly. Plus, you get trading signals provided right to you, which is a big plus. If you’re looking to begin trading the forex market however do not know which system to pick, then this may be precisely what you need.