Not actually having the full amount of capital…Bitboy Idiot… so with anything that you’re discovering please do study the platform don’t simply presume because i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option also so you actually get utilized to the structure of the site and after that 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 real business if you choose to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so certainly your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row invest in these choices due to the fact that you think is the best ones for you which being stated let’s dive directly in [Music] so the 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 choice to see what other traders are doing extraordinary we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that suggests if for example 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 fees involved actually important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee websites then might not charge you for actually buying and selling etfs or funds individual products private stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of fees 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 understand before you really begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s start with fees actually important to comprehend these now on there’s a number of charges there isn’t fees to do with in fact buying and selling fine so commission charges are free nevertheless there are a couple of other charges the first one is withdrawal costs so you can obviously 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 but when you want to withdraw your money so you offer your shares you sell your commodities whatever you’re selling 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 just withdrawing when i definitely need to now you might state all right 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 somewhere and withdrawal costs are simply one of those alternatives that they have a great deal of platforms obviously 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 completely how you’re investing however that is a cost to bear in mind the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and two free trade anybody this is standard they have actually i expect stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there 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 state provide me us dollars instead you have to pay their fees now the excellent aspect of though when you’ve converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s really excellent using that part of their site will not certainly restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread costs okay and i’m going to reveal you what i suggest on now a spread fee as i’m going to show you Bitboy Idiot.
Overall, traders who utilize EToro in Trading 212 will find it to be among the very best and easiest platforms to utilize. You are given numerous options with this software and you can configure it nevertheless you choose. This makes it really flexible and easy to use. Plus, you get trading signals delivered right to you, which is a huge plus. So, if you’re wanting to begin trading the forex market however do not understand which system to choose, then this may be precisely what you require.