Not actually having the full amount of capital…Bitboy Green Dot… so with anything that you’re learning about please do study the platform do not just assume due to the fact that i utilize it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you in fact 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 obviously your capital is at threat this is investing we’re doing you’re buying genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money 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’ve made revenue 14 months in a row purchase these choices because you think is the ideal ones for you and that being said let’s dive straight 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 probably.
well-known for it’s the choice 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 cash we can in fact state i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be imitated with it so that means if for example 10 of their financial 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 actually vital you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the zero cost sites then might not charge you for in fact buying and selling etfs or funds individual commodities private stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort of charges 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually important to understand these now on there’s a couple of fees there isn’t fees to do with really buying and selling okay so commission costs are complimentary however there are a couple of other fees the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you offer your commodities 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may state okay that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those options that they have a lot of platforms obviously are totally free 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 once every 6 months you understand depends completely how you’re investing however that is a fee to remember the second cost that i’ve touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
a great deal of my stocks are us dollar stocks anyway 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 charge now when you use anybody so if you’re utilizing trading 2 and two 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 need to accept you understand if you wish to use their platform go from uk to us then that conversion charge exists what are they actually providing 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 state give me us dollars rather you have to pay their charges now the fantastic thing about though when you have actually transformed your money you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great using that part of their site will not certainly restrict you in any way nevertheless we have to understand 2 other costs the very first being what’s called spread fees okay and i’m going to show you what i indicate on now a spread fee as i’m going to show you Bitboy Green Dot.
In general, traders who use EToro in Trading 212 will discover it to be one of the best and most convenient platforms to utilize. You are provided many options with this software application and you can configure it nevertheless you please. This makes it really versatile and easy to use. Plus, you get trading signals provided right to you, which is a big plus. If you’re looking to begin trading the forex market however do not know which system to select, then this might be precisely what you require.