Not in fact having the full amount of capital…Bitboy Book… so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you actually get used to the structure of the site and then 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 risk this is investing we’re doing you’re buying real companies if you pick to in this particular video we’re talking about how to copy other people’s investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something since that individual has actually said they’ve made revenue 14 months in a row purchase these choices due to the fact that you believe is the best ones for you which 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 becomes part of social trading which is one aspect that is most likely.
popular for it’s the option to see what other traders are doing amazing we do not generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i wish to do precisely what that trader is doing or match that precise portfolio of choices and generally every time they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests 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 fees involved actually important you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then might not charge you for actually buying and selling funds or etfs specific products individual stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs 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 prior to you really begin buying copy trading or copy portfolios and finally some best guidance best practices if you are thinking of this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually important to comprehend these now on there’s a number of charges there isn’t fees to do with actually buying and selling okay so commission fees are totally free nevertheless there are a number of other charges the very first one is withdrawal charges so you can clearly put money in now if you remain 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 in the future however when you wish to withdraw your money so you offer your shares you offer 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 obviously knowing that i’m going to ensure that i’m just withdrawing when i definitely need to now you might state alright that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year when every six months you understand depends entirely how you’re investing however that is a fee to bear in mind the 2nd fee that i have actually discussed is that conversion fee now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that fits me.
a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you wish to use their platform go from uk to us then that conversion cost is there what are they actually 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 say provide me us dollars instead you have to pay their fees now the great thing about however when you’ve converted your cash you do not have to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s actually excellent utilizing that part of their website will not definitely restrict you in any way nevertheless we need to understand two other charges the first being what’s called spread fees alright and i’m going to reveal you what i suggest on now a spread fee as i’m going to reveal you Bitboy Book.
Overall, traders who utilize EToro in Trading 212 will find it to be one of the very best and simplest platforms to use. You are provided many alternatives with this software application and you can configure it however you please. This makes it really versatile and user friendly. Plus, you get trading signals delivered right to you, which is a big plus. So, if you’re looking to begin trading the forex market however do not know which system to choose, then this might be exactly what you require.