Etoro App Trading Costs – Ask Mary Traders

We get htis a lot on our site the answer to Etoro App Trading Costs….Questions that i hear from brand-new financiers what if you’re brand new to investing you simply do not want to choose what you in fact want to invest and you want somebody to do it for you there’s only a couple of ways that that can take place the first of all you can hire an investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are produced again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios as well now if you’re brand new to an overall please keep in mind this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing

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with not in fact having the total of capital so with anything that you’re learning more about please do study the platform don’t just presume since i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that option too so you really get utilized to the structure of the site and then when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re discussing how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not just do something because that person has said they’ve made profit 14 months in a row purchase these options due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is probably.

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popular for it’s the option to see what other traders are doing amazing we do not usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they offer whatever they do your cash will be simulated with it so that means if for instance 10 of their 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 actually critical you understand what are the expenses of this now with any platform there will be some cost to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no charge sites then might not charge you for in fact buying and selling etfs or funds individual commodities specific stocks.

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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you in fact start purchasing copy trading or copy portfolios and finally some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs really important to understand these now on there’s a number of fees there isn’t charges to do with really buying and selling okay so commission fees are totally free nevertheless there are a couple of other costs the very first one is withdrawal costs so you can undoubtedly put money in now if you’re in the uk we put our uk cash.

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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you might state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are just among those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends totally how you’re investing but that is a charge to remember the 2nd fee that i’ve touched upon is that conversion cost 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.

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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion fee now when you use anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i expect stuck to whatever charge they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they in fact providing 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 say give me us dollars instead you have to pay their charges now the excellent aspect of though when you’ve converted your cash 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 suggests the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s truly great utilizing that part of their site won’t definitely limit you in any way nevertheless we have to be aware of 2 other charges the very first being what’s called spread fees okay and i’m going to reveal you what i mean on now a spread charge as i’m going to reveal you

on is essentially the difference that belongs to the financial investment platform between the buy cost and the sale price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the site right now tesla’s dollar worth 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 reveal you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then really to purchase that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a bit of cash on those spread out fees it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last accomplishment is called an

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over night cost now this is actually important if you’re in fact utilizing cfds yourself too an overnight charge is when you’re not doing that buy offer transaction in the same day alright there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend fee now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one take advantage of which implies you’re in fact purchasing the precise asset instead of using take advantage of anyway you will not get hit with these fees but these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy selling in the very same day so let’s state if you go into the aid section this isn’t the overnight fees info you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which only uses as i said to cfds there are some surcharges obviously depending on what you are investing in too this is on your own so keep that in mind however complete charges are completely within their aid info okay and we talked about along with complimentary to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different ways of really utilizing these copy operates they don’t have any extra charges on top of the normal fees that

are there now what you require to bear in mind though is these possibly managed by other individuals entirely or in some cases have actually created portfolios you have actually got a genuine individual doing the management you need to make certain you select the person that’s right for you just like any kind of work this is your financial possessions so we absolutely require to make sure it’s the ideal person for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t require to put in your credit card information or anything you can basically have this virtual portfolio mimic 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 comfy with utilizing your real cash maybe this is a fantastic choice for you again to test the theories all right you may wish to purchase tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe play with it clearly you may have lost out on gains and losses during that time naturally if you had actually invested your real cash it permits you to develop confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive really how to copy individuals and copy portfolios now here’s something to remember before you select someone that you’re going to copy or a portfolio you’re going to copy ensure you understand what your risk profile is now what do i mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk simply suggests am i fine with possibly losing a great amount of this financial investment or getting as

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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose cash however that similarly suggests they’ll lose eventually in their journey certainly people do generate income as well and i’ve got videos all about how you can make sure you’re one of individuals to in fact make money but in this circumstance ensure you research study your danger level would you be okay providing your cash to somebody else which is effectively what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous don’t select someone who’s totally into crypto or currency conversion think about it you ‘d probably desire a backbone of strong products

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like gold and even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can really use this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to actually look for someone that you elegant in fact following so let’s see maybe we want someone from joined kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds reasonable that sounds a great amount and i can discover everybody who has satisfied that criteria and it does offer you a threat factor 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 people that have quite high returns

remember it resembles anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they might make four or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to confirm are you alright with this and off you go now another way to actually deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she actually investing in so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got a few of mine in fact that i purchase too which is great so actually for me understanding what i like to purchase my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the sort of primary food business and you have actually got you know pharmaceutical and production business as that. Etoro App Trading Costs.

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