Not really having the full amount of capital…Etoro Review Trust Pilot… so with anything that you’re learning more about please do study the platform don’t simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you actually get utilized 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 obviously your capital is at threat this is investing we’re doing you’re purchasing real companies if you pick to in this specific video we’re speaking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at risk and we have to bear that in mind do not simply do something because that person has said they’ve made earnings 14 months in a row invest in these choices due to the fact that you believe is the best ones for you and that being said 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 most likely.
famous for it’s the alternative to see what other traders are doing unbelievable we do not normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can really state i want to do exactly what that trader is doing or match that precise portfolio of choices and essentially each time they make a trade they buy they offer whatever they do your cash will be imitated with it so that implies if for instance 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included really important you understand what are the costs of this now with any platform there will be some expense to certainly these are real companies 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 might not charge you for actually buying and selling etfs or funds individual products individual 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 sort of charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees truly important to understand these now on there’s a number of fees there isn’t fees to do with really buying and selling alright so commission costs are free however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put money 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 in the future but when you wish to withdraw your money so you offer your shares you offer your products 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 of course knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply among those alternatives that they have a lot of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year as soon as every 6 months you know depends entirely how you’re investing however that is a fee to remember the 2nd fee that i have actually discussed is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s fine that suits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps 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 2 free trade anyone at all this is standard they have i suppose stuck to whatever fee they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they in fact 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 provide me us dollars rather you need to pay their costs now the excellent thing about though when you’ve converted your money you do not have to invest it right away 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 buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their website won’t 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 imply on now a spread cost as i’m going to show you Etoro Review Trust Pilot.
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