Not actually having the total of capital…Michael Saylor Gif… so with anything that you’re finding out about please do study the platform do not just assume because i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that option as well so you in fact get used to the structure of the website and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they’ve made revenue 14 months in a row purchase these choices because 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 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 alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of choices and essentially every time they make a trade they buy they sell whatever they do your money will be imitated with it so that indicates if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really vital you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the no cost sites then might not charge you for really buying and selling etfs or funds specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to know before you really start investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s start with charges truly crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with actually buying and selling fine so commission fees are complimentary however there are a number of other charges the first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer 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 understanding that i’m going to make sure that i’m only withdrawing when i definitely need to now you may state all right 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 somewhere and withdrawal charges are simply among those choices that they have a lot of platforms clearly are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you know depends completely how you’re investing however that is a charge to remember the second charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using 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 sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion cost is there what are they in fact providing you in terms of 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 give me us dollars instead you have to pay their costs now the terrific thing about however when you’ve converted your cash you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to understand two other fees the very first being what’s called spread costs okay and i’m going to show you what i imply on now a spread cost as i’m going to show you Michael Saylor Gif.
In general, traders who utilize EToro in Trading 212 will discover it to be among the best and simplest platforms to use. You are offered lots of options with this software application and you can configure it however you see fit. This makes it very versatile and user friendly. Plus, you get trading signals delivered 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 might be exactly what you need.