Not in fact having the total of capital…Michael Saylor Bitcoin Standard Podcast… so with anything that you’re finding out about please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they give that option also so you really get utilized to the structure of the website and then when you’re ready to use your own money 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 purchasing real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that individual has actually stated they have actually made earnings 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one element that is probably.
well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our money we can in fact state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they buy they sell whatever they do your cash will be imitated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the charges included actually crucial you comprehend what are the costs of this now with any platform there will be some expense to certainly 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 websites then might not charge you for in fact buying and selling etfs or funds private commodities private stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know before you in fact begin purchasing copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with costs really important to understand these now on there’s a couple of fees there isn’t costs to do with really buying and selling okay so commission fees are free however there are a number of other fees the first one is withdrawal fees so you can obviously put cash in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later but when you wish to withdraw your money so you offer 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 five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m just withdrawing when i definitely require to now you may say fine that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are just among those choices that they have a lot of platforms clearly are 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 six months you know depends entirely how you’re investing but that is a fee to keep 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 buy in euros or uk which’s fine that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge exists what are they in fact offering 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 instead you have to pay their costs now the terrific feature of though when you have actually converted your money 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 suggests the preliminary 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 costs so that’s actually excellent using that part of their website won’t certainly limit you in any way nevertheless we need to be aware of two other costs the first being what’s called spread fees all right and i’m going to show you what i suggest on now a spread cost as i’m going to show you Michael Saylor Bitcoin Standard Podcast.
Overall, traders who utilize EToro in Trading 212 will discover it to be among the very best and easiest platforms to utilize. You are offered lots of alternatives with this software and you can configure it nevertheless you please. This makes it really versatile and easy to use. Plus, you get trading signals delivered right to you, which is a huge plus. If you’re looking to begin trading the forex market but don’t know which system to select, then this may be exactly what you require.