Not actually having the full amount of capital…Michael Saylor Tweets… so with anything that you’re learning about please do study the platform don’t simply assume because i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re investing in genuine business if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your cash so clearly your capital is at threat and we need to bear that in mind do not simply do something because that individual has actually stated they’ve made profit 14 months in a row invest in these choices since you think is the best ones for you and that being stated let’s dive straight in [Music] so the things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing unbelievable we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can actually state i want to do precisely what that trader is doing or match that specific portfolio of alternatives and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included truly critical you comprehend what are the expenses of this now with any platform there will be some expense to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost sites then might not charge you for really buying and selling etfs or funds private products specific stocks.
there’ll be costs on other parts possibly 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 fees with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and lastly some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s start with charges really important to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling fine so commission costs are free however there are a number of other fees the first one is withdrawal charges so you can undoubtedly put cash in now if you remain in the uk we put our uk cash.
and it’s automatically 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 sell 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 of course understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply among those options 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 mainly it can be maybe even once a year as soon as every six months you know depends totally how you’re investing however that is a charge to remember the 2nd charge that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading 2 and two open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you wish to use their platform go from uk to us then that conversion cost exists what are they really 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 provide me us dollars instead you need to pay their costs now the fantastic thing about however when you have actually converted your cash you do not have to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the initial 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 truly excellent utilizing that part of their website will not certainly limit you in any way nevertheless we need to be aware of 2 other fees the very first being what’s called spread fees okay and i’m going to show you what i imply on now a spread charge as i’m going to reveal you Michael Saylor Tweets.
In general, traders who utilize EToro in Trading 212 will discover it to be one of the very best and most convenient platforms to use. You are given lots of alternatives with this software application and you can configure it nevertheless you please. This makes it very flexible and user friendly. Plus, you get trading signals provided right to you, which is a huge plus. If you’re looking to begin trading the forex market however don’t understand which system to select, then this might be precisely what you require.