Not in fact having the full amount of capital…Bitboy Bitcoin… so with anything that you’re learning about please do study the platform do not simply assume since i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you actually get used to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying real companies if you select to in this specific video we’re discussing how to copy other individuals’s financial investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not just do something since that person has actually said they have actually made revenue 14 months in a row buy these options since you believe is the best ones for you which being said let’s dive straight 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.
well-known for it’s the option to see what other traders are doing incredible we do not normally 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 in fact state i wish to do precisely what that trader is doing or match that precise portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated with it so that means if for instance 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 also cover is the fees involved really critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are real business 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 etfs or funds specific products 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 kinds of fees associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs actually essential to comprehend these now on there’s a number of costs there isn’t fees to do with really buying and selling fine so commission fees are free nevertheless there are a number of other fees the very first one is withdrawal charges so you can certainly 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 later on but 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 5 dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i absolutely need to now you might say fine that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms certainly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd cost that i have actually touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading 2 and 2 open market anyone at all this is basic they have actually i suppose stuck with whatever cost 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 really offering you in terms of 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 have to pay their charges now the excellent aspect of though when you have actually converted your money you do not need to invest it right now that dollar worth can sit 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 occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent using that part of their website will not certainly restrict you in any way nevertheless we need to know two other charges the very first being what’s called spread costs fine and i’m going to show you what i mean on now a spread cost as i’m going to show you Bitboy Bitcoin.
In general, traders who utilize EToro in Trading 212 will discover it to be one of the best and most convenient platforms to utilize. You are given numerous choices with this software application and you can configure it nevertheless you please. This makes it very versatile and user friendly. 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 do not know which system to pick, then this may be precisely what you require.