Not really having the full amount of capital…Bitboy Xlm… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i utilize it that you can utilize it right away do some due diligence have a little experiment with it even invest with virtual money they consider that choice as well so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying genuine business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has stated they have actually made earnings 14 months in a row purchase these choices due to the fact that you believe is the right 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 most likely.
famous for it’s the choice to see what other traders are doing incredible we do not 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 cash we can really say i want to do precisely what that trader is doing or match that precise portfolio of options and generally each time 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 financial 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 really important you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the zero fee websites then may not charge you for really buying and selling etfs or funds individual commodities specific 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 kinds 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 know before you actually start purchasing copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced financier so let’s begin with costs really important to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a number of other fees the first one is withdrawal charges so you can undoubtedly put cash in now if you’re 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 in the future however when you want to withdraw your money so you sell your shares you offer your commodities whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i absolutely require to now you may say alright that’s quite 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 charges are simply one of those choices that they have a great deal of platforms undoubtedly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a fee to keep in mind the second cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an option to buy 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 even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and two free trade anyone at all this is standard they have i expect stuck with whatever charge 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 charge is there what are they really offering 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 give me us dollars rather you need to pay their fees now the excellent aspect of however when you’ve converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually excellent using that part of their site won’t certainly limit you in any way however we need to know two other fees the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to reveal you Bitboy Xlm.
Overall, traders who utilize EToro in Trading 212 will find it to be among the very best and easiest platforms to use. You are given lots of choices with this software and you can configure it nevertheless you choose. 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 aiming to start trading the forex market however don’t know which system to pick, then this may be exactly what you need.