Not in fact having the total of capital…Bitboy Crypto Meetup… so with anything that you’re discovering please do study the platform do not simply assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that choice also so you actually get utilized to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they’ve made profit 14 months in a row purchase these choices since you think is the right ones for you which being said 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 belongs to social trading which is one element that is most likely.
well-known for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially whenever they make a trade they buy they offer 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 truly crucial you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies 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 cost sites then might not charge you for really buying and selling etfs or funds individual commodities specific 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 fees with in particular in this video the next would be things to understand prior to you actually start investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with costs truly important to understand these now on there’s a number of charges there isn’t costs to do with actually buying and selling fine so commission fees are free however there are a number of other charges the first one is withdrawal charges so you can clearly put cash 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 in the future but when you wish to withdraw your money so you offer your shares you sell your products 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 knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you might 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 someplace and withdrawal costs are just among those options that they have a great deal of platforms undoubtedly are totally 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 understand depends totally how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re using trading two and 2 open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they actually offering you in regards to 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 rather you need to pay their charges now the terrific feature of though when you have actually transformed your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that indicates 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 great using that part of their site won’t definitely restrict you in any way however we have to know two other charges the very first being what’s called spread fees fine and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Bitboy Crypto Meetup.
Overall, traders who utilize EToro in Trading 212 will discover it to be among the best and easiest platforms to use. You are given lots of options with this software and you can configure it nevertheless you see fit. This makes it extremely flexible and easy to use. 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 however don’t understand which system to choose, then this might be exactly what you require.