Is copy trading free? What are the fees involved in copy trading?
You can see the Copy People page here : http://etoro.tw/2fMizH2
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I get a lot of comments and questions about the fees involved in Etoro, and specifically in copying other traders - people are looking for a passive income, but everyone's a bit worried about hidden fees. It's not surprising as the whole idea of exchanges and brokers conjures up images of a fees extravaganza.
Thankfully, it's not like that - if it was, nobody would stay... But there are fees, and it's best to know about them before having a go.
There's the ones which you need to know about (if all you want to do is copy other people) and then there's ones which you really don't need to know about so much unless you're trading yourself.
the first group are the withdraw and the conversion fees - you're going to need to pay these when you put money into Etoro, and also when you withdraw funds back into your bank account or credit card. There's also one based on being inactive on the site for over 12 months, but I've never heard anyone even experience that one yet :)
The second group is spread, overnight, and weekend fees - the spreads are one of the primary ways that the broker makes their money - they're charged on all buys and sells on the site (it's the standard way this industry makes money) but they're for the person you're copying to worry about as it's part of their job. These charges will show up in the person you're copying's profit and loss for you, so if you don't like the way they're performing, you just find another person to copy. It's pretty simple.
In this video I put cards which link to some of my other videos - they go into more detail about some of the subjects covered :
Withdrawal Fee Update: https://www.youtube.com/watch?v=4_EiZBcUT1U&index=14&list=PLSp_9hRpu6lKOj-KjMnlULlG62zXNIBz9
Spread Fees: https://www.youtube.com/watch?v=MjzXbe8lz40&list=PLSp_9hRpu6lKOj-KjMnlULlG62zXNIBz9&index=12
Overnight (Holding) Fees: https://www.youtube.com/watch?v=p_9fRlL51dY&list=PLSp_9hRpu6lKOj-KjMnlULlG62zXNIBz9&index=13
My Etoro beginners Playlist: https://www.youtube.com/watch?v=noSTWBJkfvk&index=2&list=PLSp_9hRpu6lKOj-KjMnlULlG62zXNIBz9