Not really having the total of capital…Michael Saylor Zitate… so with anything that you’re learning more about please do study the platform do not just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at risk this is investing we’re doing you’re investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has said they have actually made revenue 14 months in a row buy these options because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] The 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.
popular for it’s the choice to see what other traders are doing unbelievable we do not generally 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 in fact state i wish to do exactly what that trader is doing or match that precise portfolio of options and generally whenever they make a trade they purchase they sell whatever they do your money will be mimicked 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 money in so we’re going to likewise cover is the fees involved truly 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 absolutely no fee websites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
there’ll be charges on other parts possibly 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 in fact start buying copy trading or copy portfolios and finally some best advice best practices if you are considering this as a tool whether you begin your journey or your advanced financier so let’s kick off with fees truly crucial to understand these now on there’s a number of charges there isn’t costs to do with really buying and selling okay so commission costs are free nevertheless there are a couple of other charges the very first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your cash so you sell your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state all right that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those choices that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a charge to remember the second cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk which’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 free trade anybody this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you sort of have to accept you understand 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 haggle with them you can’t go to the bank and say offer me us dollars instead you need to pay their charges now the excellent aspect of however when you’ve transformed 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 implies the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great using that part of their site will not definitely limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread charges okay and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Michael Saylor Zitate.
In general, traders who use EToro in Trading 212 will find it to be one of the best and easiest platforms to use. You are provided lots of options with this software and you can configure it however you please. This makes it extremely versatile and easy to use. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to start trading the forex market but do not understand which system to select, then this may be precisely what you need.