Not actually having the full amount of capital…Michael Saylor Zitate… so with anything that you’re finding out about please do study the platform do not simply presume due to the fact that i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you actually get used to the structure of the site and after that when you’re ready to use your own cash 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 buying genuine business if you pick to in this particular video we’re discussing how to copy other people’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something since that person has actually said they’ve made profit 14 months in a row invest in these options since you think is the right ones for you and that being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is most likely.
famous for it’s the alternative to see what other traders are doing incredible we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of options and generally every time they make a trade they purchase they sell whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really vital you understand what are the costs of this now with any platform there will be some cost to clearly these are genuine 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 may 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 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 prior to you actually begin investing in copy trading or copy portfolios and lastly some finest suggestions finest practices if you are considering this as a tool whether you begin your journey or your more advanced financier so let’s kick off with charges actually important to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling alright so commission costs are free however there are a number of other costs the first one is withdrawal costs so you can certainly put money 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 in the future but when you want to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 require to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are 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 once every six months you know depends totally how you’re investing but that is a cost to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that fits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re utilizing trading two and 2 free trade anyone at all this is basic they have actually i expect stuck to whatever cost they charge for that conversion rate you type of have to accept you understand if you want to utilize their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and state offer me us dollars instead you need to pay their fees now the fantastic aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash 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 takes place now with copy trading and copy portfolios there aren’t any extra costs so that’s really good utilizing that part of their site will not certainly limit you in any way nevertheless we have to be aware of two other charges the first being what’s called spread charges all right and i’m going to show you what i mean on now a spread charge as i’m going to reveal you Michael Saylor Zitate.
Overall, traders who utilize EToro in Trading 212 will find it to be among the very best and simplest platforms to use. You are provided numerous options with this software and you can configure it however you choose. This makes it extremely versatile and user friendly. Plus, you get trading signals provided right to you, which is a big plus. So, if you’re aiming to start trading the forex market however do not understand which system to choose, then this might be exactly what you need.