Copay Vs Etoro – Ask Mary

We get htis a lot on our site the answer to Copay Vs Etoro….Questions that i hear from new financiers what if you’re brand new to investing you merely don’t wish to choose what you in fact wish to invest and you want someone to do it for you there’s only a number of ways that that can occur the firstly you can employ an investment portfolio supervisor they’ll usually charge a quite a high premium to do that maybe a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are developed again with an account manager in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios too now if you’re brand new to a total please keep in mind this platform is quite innovative you can do cfds which obviously cfds are ways of investing

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with not in fact having the full amount of capital so with anything that you’re discovering please do study the platform do not just presume since i utilize it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they give that choice as well 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 threat this is investing we’re doing you’re investing in real companies if you choose to in this specific video we’re speaking about how to copy other people’s financial investments with your money so obviously your capital is at danger and we have to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row buy these choices since you believe is the best ones for you which being said let’s dive directly 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 aspect that is probably.

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well-known for it’s the option to see what other traders are doing unbelievable we do not usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our money we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that suggests if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees included really vital you understand what are the costs of this now with any platform there will be some cost to undoubtedly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no fee websites then may not charge you for in fact buying and selling funds or etfs private commodities specific stocks.

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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing 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 understand before you actually begin investing in copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking of this as a tool whether you begin your journey or your more advanced investor so let’s kick off with costs really essential to understand these now on there’s a couple of costs there isn’t fees to do with actually buying and selling alright so commission charges are free however there are a couple of other fees the first one is withdrawal costs so you can clearly put cash in now if you’re in the uk we put our uk cash.

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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 sell your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m only withdrawing when i absolutely require to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a great deal of platforms obviously are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year once every six months you know depends totally how you’re investing however that is a cost to remember the 2nd cost that i have actually 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 great that fits me.

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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 free trade anyone at all this is standard they have i suppose stuck with whatever charge they charge for that conversion rate you type of have to accept you understand if you wish to utilize 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 have to pay their charges now the fantastic aspect of however when you’ve converted your cash you do not need to invest it right away that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the initial day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s really great utilizing that part of their site will not definitely restrict you in any way nevertheless we have to understand 2 other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread fee as i’m going to show you

on is basically the distinction that is part of the financial investment platform between the buy price and the sale price alright it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website right now tesla’s dollar value 599 per share in tesla that really suggests that when you want to purchase or sell as you can see it’s not the cost you’re seeing up here let me show you that once again so the current cost of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind clearly it’s more expensive to purchase than it is to offer so they’re going to give you less back with your sale and you say okay well why does that happen it just does that is the nature of a great deal of platforms out there there’s a difference between if you’re buying it then you wish to sell it which is how they make a bit of money on those spread out fees it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last accomplishment is called an

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overnight fee now this is actually important if you’re actually utilizing cfds yourself too an over night charge is when you’re refraining from doing that buy offer transaction in the very same day all right there’s then an over night cost charged or even if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which indicates you’re in fact buying the precise possession instead of utilizing utilize anyhow you will not get hit with these costs however these costs are if you’re using take advantage of and cfds and after that you’re going to have these costs if you’re not buy selling in the same day so let’s say if you go into the help area this isn’t the overnight fees information you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some additional charges obviously depending upon what you are buying also this is on your own so keep that in mind however full costs are entirely within their aid info fine and we talked about as well as free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually using these copy works they don’t have any additional fees on top of the normal costs that

are there now what you require to bear in mind though is these potentially managed by other people completely or in some cases have developed portfolios you have actually got a genuine person doing the management you have to make sure you select the person that’s right for you much like any line of work this is your financial properties so we definitely require to make sure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to utilize this function we have actually got a number of different options for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your credit card information or anything you can generally have this virtual portfolio imitate as if you are utilizing your own cash however actually buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with utilizing your genuine money maybe this is a fantastic alternative for you once again to test the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual option as a way to kind of safe play with it undoubtedly you may have lost out on gains and losses throughout that time of course if you had invested your real cash it allows you to construct confidence comprehend the platform so that’s one choice for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to remember prior to you choose somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand what your danger profile is now what do i suggest by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be risk simply indicates am i okay with potentially losing a good quantity of this financial investment or gaining as

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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose at some time in their journey obviously people do make money as well and i’ve got videos everything about how you can make sure you’re one of individuals to really make money however in this situation ensure you research study your risk level would you be all right giving your money to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re buying totally if you’re someone who isn’t wanting to be that risky do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products

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like gold or even oil plus more standard etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually utilize this too actually easily over here you can copy individuals now it will provide you a great deal of choices and you can use the system to actually look for somebody that you fancy really following so let’s see perhaps we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve gotten at least 10 yeah that sounds reasonable that sounds a great quantity and i can find everybody who has satisfied that requirements and it does give you a threat element too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a number of individuals that have quite high returns

remember it’s like anything to do with the news or forecasts of the future this does not mean somebody will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to verify are you alright with this and off you go now another method to in fact deep dive if we click this person for instance ruby mza as an example you can really deep dive into what is she in fact investing in so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got a few of mine in fact that i purchase too which is great so actually for me knowing what i like to invest in my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she chooses she’s also got a bit more um of the type of primary food companies and you’ve got you know pharmaceutical and production companies as that. Copay Vs Etoro.

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