Not in fact having the total of capital…Michael Saylor Quora… so with anything that you’re discovering please do study the platform do not just presume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual money they give that option too so you actually get utilized to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at danger this is investing we’re doing you’re buying genuine companies if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at danger and we have 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 invest in these choices due to the fact that you think is the best ones for you and that being said let’s dive straight in [Music] The 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 probably.
well-known for it’s the option to see what other traders are doing unbelievable 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 indicates with our money we can really state i want to do exactly what that trader is doing or match that exact portfolio of alternatives and generally every time they make a trade they buy they sell whatever they do your money will be mimicked with it so that indicates if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved truly important you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real companies 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 absolutely no fee websites then may not charge you for actually buying and selling etfs or funds specific products individual 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 sort of costs 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 before you actually begin investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s start with charges really crucial to comprehend these now on there’s a couple of fees there isn’t charges to do with actually buying and selling okay so commission fees are totally free however there are a number of other fees the very first one is withdrawal costs so you can certainly put cash 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 in the future however when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may say all right that’s quite costly and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those alternatives that they have a great deal of platforms obviously are free 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 when every six months you understand depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk which’s fine that fits 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 anyone so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you want to utilize their platform go from uk to us then that conversion fee exists what are they really providing you in regards to 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 costs now the great aspect of though when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy 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 really great using that part of their website won’t certainly limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread costs fine and i’m going to show you what i mean on now a spread fee as i’m going to reveal you Michael Saylor Quora.
In general, traders who use EToro in Trading 212 will discover it to be among the very best and easiest platforms to use. You are provided lots of options with this software application and you can configure it nevertheless you see fit. This makes it really versatile and user friendly. Plus, you get trading signals delivered right to you, which is a huge plus. If you’re looking to begin trading the forex market however do not know which system to pick, then this might be exactly what you require.