Not actually having the total of capital…Bitboy Crypto Omi… so with anything that you’re finding out about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that option as well so you really get used to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re investing in real business if you pick to in this particular video we’re talking about how to copy other people’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row invest in these options because you believe is the right ones for you and that being said let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it belongs to social trading which is one element that is most likely.
famous for it’s the option to see what other traders are doing extraordinary we don’t typically get that insight from a lot 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 precise portfolio of alternatives and basically whenever they make a trade they purchase they sell whatever they do your money will be imitated with it so that suggests if for instance 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges involved actually important you comprehend what are the expenses of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the zero cost sites then might not charge you for really buying and selling funds or etfs individual commodities private stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of charges 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 know prior to you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s start with costs actually essential to comprehend these now on there’s a couple of costs there isn’t fees to do with really buying and selling all right so commission costs are totally free nevertheless there are a number of other fees the very first one is withdrawal fees so you can obviously put money in now if you remain in the uk we put our uk money.
and it’s immediately 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 sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely need to now you may say fine that’s rather expensive 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 simply one of those alternatives that they have a lot of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every 6 months you understand depends entirely how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re dealing in us dollars only there’s not an option 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 or even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re utilizing trading two and 2 open market anyone at all this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact giving 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 state offer me us dollars rather you need to pay their costs now the terrific thing about however when you’ve transformed your cash you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary 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 really great utilizing that part of their website will not definitely limit you in any way nevertheless we need to know two other charges the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread charge as i’m going to show you Bitboy Crypto Omi.
Overall, traders who use EToro in Trading 212 will find it to be among the very best and simplest platforms to utilize. You are provided many choices with this software application and you can configure it however you please. This makes it really versatile and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. If you’re looking to begin trading the forex market but don’t know which system to choose, then this may be exactly what you need.