Not really having the total of capital…Etoro Crypto Tax Calculator… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize 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 in fact 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 investing in genuine business if you select to in this specific video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at threat and we have to bear that in mind do not simply do something since that individual has said they’ve made earnings 14 months in a row buy these choices since you think is the right ones for you and that being said let’s dive directly in [Music] so the important 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.
well-known for it’s the option to see what other traders are doing extraordinary we do not normally get that insight from a great deal 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 want to do precisely what that trader is doing or match that precise portfolio of choices and essentially whenever they make a trade they buy they sell whatever they do your money will be mimicked with it so that means if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the costs involved truly vital you understand what are the expenses of this now with any platform there will be some expense to certainly these are genuine 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 sites then may not charge you for actually buying and selling etfs or funds individual commodities 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 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 know prior to you really begin purchasing 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 investor so let’s start with costs really important to comprehend these now on there’s a number of fees there isn’t costs to do with really buying and selling okay so commission charges are free nevertheless there are a couple of other charges the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you offer your shares you sell your products whatever you’re offering 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 understanding that i’m going to make sure that i’m just withdrawing when i absolutely require to now you might state alright that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those alternatives that they have a lot 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 once every 6 months you know depends entirely how you’re investing however that is a charge to bear in mind the 2nd cost that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s great that suits me.
a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact 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 charges now the excellent aspect of however when you have actually converted your money you do not need to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the initial day that you buy 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 great utilizing that part of their site won’t definitely limit you in any way however we need to know two other costs the very first being what’s called spread charges all right and i’m going to show you what i mean on now a spread cost as i’m going to show you Etoro Crypto Tax Calculator.
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