Not in fact having the full amount of capital…Bittboy Update… so with anything that you’re discovering please do study the platform do not simply presume since i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they give that option as well so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in genuine business if you choose to in this particular video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we have to bear that in mind do not just do something since that individual has stated they’ve made profit 14 months in a row purchase these choices since you believe is the right ones for you which being said let’s dive directly in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one aspect that is probably.
famous for it’s the option to see what other traders are doing incredible we do not typically get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests 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 purchase they sell whatever they do your money will be simulated 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 involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no cost sites then might not charge you for really buying and selling funds or etfs private commodities private stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort of charges 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 prior to you really begin investing in 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 financier so let’s begin with costs truly important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission charges are free however there are a couple of other charges the very first one is withdrawal costs so you can clearly put money in now if you remain 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 but when you want to withdraw your cash so you offer your shares you sell 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 of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state all right that’s rather expensive and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are just among those alternatives that they have a lot of platforms obviously are free to do such things has this 5 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 know depends completely how you’re investing however that is a charge to keep in mind the 2nd charge that i’ve discussed is that conversion fee now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading 2 and two free trade anybody this is standard they have i expect stuck with whatever charge they charge for that conversion rate you type of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact 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 instead you have to pay their costs now the fantastic aspect of however when you’ve transformed your money you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s actually good utilizing that part of their website won’t certainly restrict you in any way however we have to understand 2 other costs the first being what’s called spread costs okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bittboy Update.
In general, traders who use EToro in Trading 212 will find it to be one of the best and most convenient platforms to use. You are given many choices with this software and you can configure it however you choose. 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 start trading the forex market but don’t know which system to select, then this may be precisely what you need.