Not actually having the total of capital…Michael Saylor Kim… so with anything that you’re finding out about please do study the platform don’t simply assume because i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that choice as well so you really get utilized to the structure of the site 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 danger this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re talking about how to copy other people’s investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that individual has stated they’ve made profit 14 months in a row invest in these choices due to the fact that you believe is the ideal ones for you which being stated let’s dive straight 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 element that is probably.
famous for it’s the option to see what other traders are doing extraordinary we don’t usually 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 cash we can in fact state i want 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 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 also cover is the costs involved really vital you understand what are the costs 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 included and even some of the zero charge websites then might not charge you for actually buying and selling etfs or funds specific commodities individual 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 type of fees associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to understand prior to you really begin buying copy trading or copy portfolios and finally some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s kick off with charges really crucial to understand these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal charges so you can clearly put money in now if you’re 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 on but when you want to withdraw your money so you offer 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 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you might say fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are just among those options that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you know depends totally how you’re investing but that is a fee to bear in mind the second charge that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not a choice to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re using trading 2 and 2 free trade anybody this is standard they have actually i expect stuck to whatever fee they charge for that conversion rate you kind of need to accept you understand if you want to utilize their platform go from uk to us then that conversion fee 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 haggle with them you can’t go to the bank and state give me us dollars rather you need to pay their costs now the great thing about though when you have actually converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens 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 certainly restrict you in any way nevertheless we have to understand two other fees the very first being what’s called spread fees all right and i’m going to reveal you what i suggest on now a spread charge as i’m going to reveal you Michael Saylor Kim.
In general, traders who utilize EToro in Trading 212 will find it to be among the very best and most convenient platforms to use. You are given lots of alternatives with this software and you can configure it however you see fit. This makes it extremely versatile and easy to use. Plus, you get trading signals provided right to you, which is a big plus. If you’re looking to begin trading the forex market but do not understand which system to select, then this may be exactly what you require.