Not actually having the total of capital…Michael Saylor Book… so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i use it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option also so you really get utilized to the structure of the website and then when you’re ready to utilize your own money to invest you can do so now i will disclaim obviously your capital is at risk this is investing we’re doing you’re buying real companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something since that individual has 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 which being stated let’s dive straight 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.
well-known for it’s the alternative to see what other traders are doing unbelievable we don’t generally get that insight from a lot of platforms and the other benefit 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 exact portfolio of alternatives and essentially whenever they make a trade they buy they offer whatever they do your cash will be simulated 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 likewise cover is the fees involved truly vital you understand what are the expenses of this now with any platform there will be some cost to clearly 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 absolutely no cost sites then might not charge you for actually buying and selling funds or etfs specific products private stocks.
there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 know before you actually begin investing in copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced financier so let’s kick off with charges truly important to comprehend these now on there’s a number of costs there isn’t charges to do with actually buying and selling okay so commission charges are free however there are a number of other charges the first one is withdrawal charges so you can undoubtedly put money in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you sell your commodities whatever you’re selling the minimum amount 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 make certain that i’m just withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are just one of those choices that they have a lot of platforms certainly are free 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 totally how you’re investing however that is a charge to keep in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to buy in euros or uk which’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m great with that we have what’s called the fx currency conversion cost 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 have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they really offering you in regards to 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 state give me us dollars rather you need to pay their charges now the great aspect of however when you have actually transformed your money you do not have to invest it right away that dollar worth can sit in your portfolio as money dollars for as long as you like so that indicates 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 additional charges so that’s actually excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know two other costs the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you Michael Saylor Book.
In general, traders who use EToro in Trading 212 will find it to be among the best and easiest platforms to use. You are given many alternatives with this software and you can configure it however you choose. This makes it really flexible and user friendly. Plus, you get trading signals delivered right to you, which is a huge plus. So, if you’re wanting to begin trading the forex market however do not know which system to select, then this might be precisely what you require.