Not actually having the full amount of capital…Can Elon Musk Become The First Trillionaire… so with anything that you’re finding out about please do study the platform don’t just presume since i utilize it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you really get utilized 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 obviously your capital is at threat this is investing we’re doing you’re purchasing genuine companies if you pick to in this specific video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that individual has actually stated they’ve made profit 14 months in a row purchase these choices since you believe is the best ones for you which being stated let’s dive directly 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 most likely.
well-known for it’s the option to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can actually state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates 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 also cover is the fees involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no fee websites then might not charge you for really buying and selling funds or etfs specific commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds 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 in fact begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s begin with fees really important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling okay so commission costs are totally free nevertheless there are a couple of other costs the first one is withdrawal charges so you can undoubtedly put cash in now if you remain 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 but when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal charges are simply among those choices that they have a great deal 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 perhaps even once a year once every 6 months you understand depends totally how you’re investing however that is a charge to remember the 2nd charge that i have actually touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk which’s great that matches 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 good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading two and 2 free trade anybody this is standard they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to utilize their platform go from uk to us then that conversion charge is there what are they really 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 state provide me us dollars instead you need to pay their fees now the terrific aspect of though when you’ve converted 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 means 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 extra costs so that’s really excellent utilizing that part of their site won’t certainly restrict you in any way however we have to be aware of 2 other costs the first being what’s called spread costs okay and i’m going to reveal you what i indicate on now a spread cost as i’m going to show you Can Elon Musk Become The First Trillionaire.
Overall, traders who use EToro in Trading 212 will find it to be among the very best and most convenient platforms to use. You are provided numerous choices with this software application and you can configure it nevertheless you choose. This makes it really flexible and user friendly. Plus, you get trading signals provided right to you, which is a huge plus. So, if you’re looking to start trading the forex market but do not know which system to pick, then this may be precisely what you require.