Not really having the full amount of capital…Etoro Crypto Copy Trading… so with anything that you’re learning about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that option too so you actually get used to the structure of the site and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re investing in real companies if you pick to in this specific video we’re speaking about how to copy other people’s investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that person has stated they’ve made earnings 14 months in a row buy these choices because you believe is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.
popular for it’s the option to see what other traders are doing unbelievable we don’t normally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of options and essentially each time they make a trade they buy they sell whatever they do your cash will be simulated with it so that means if for example 10 of their 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 costs involved really vital you understand what are the expenses of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the no fee sites then may not charge you for in fact buying and selling funds or etfs specific products private stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 really start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees really essential to comprehend these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling all right so commission charges are totally free however there are a number of other costs the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your cash so you offer your shares you sell your commodities whatever you’re selling the minimum quantity 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 need to now you might 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 fees somewhere and withdrawal charges are simply one of those choices that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a cost to keep in mind the 2nd cost that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not an option to purchase in euros or uk and that’s fine that matches me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and 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 two and two open market anybody this is standard they have actually i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually providing 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 give me us dollars rather you need to pay their charges now the terrific thing about however when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional fees so that’s really great using that part of their site will not definitely restrict you in any way however we need to be aware of 2 other charges the first being what’s called spread fees fine and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you Etoro Crypto Copy Trading.
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