Etoro Close My Account – Ask Mary

We get htis a lot on our site the answer to Etoro Close My Account….Concerns that i hear from brand-new investors what if you’re brand new to investing you just do not want to decide what you really wish to invest and you want somebody to do it for you there’s only a couple of ways that that can happen the to start with you can hire a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that possibly one or two percent of your profits will go to them the other thing is obviously you can purchase mutual funds particular funds are created 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 as well now if you’re brand new to a total please remember this platform is rather advanced you can do cfds which of course cfds are methods of investing

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with not in fact having the total of capital so with anything that you’re finding out about please do study the platform don’t just presume due to the fact that i utilize 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 also so you really get used to the structure of the website and after that 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 danger this is investing we’re doing you’re investing in genuine companies if you pick to in this particular video we’re talking about 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 simply do something because that person has stated they have actually made earnings 14 months in a row buy these choices since you think is the best ones for you which 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’s part of social trading which is one element 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 normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our money we can actually say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that suggests if for instance 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the charges included really critical you understand what are the expenses of this now with any platform there will be some cost 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 a few of the zero fee sites then may not charge you for really buying and selling funds or etfs individual commodities individual stocks.

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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of costs associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really essential to comprehend these now on there’s a couple of charges there isn’t charges to do with really buying and selling all right so commission charges are totally free however there are a number of other fees the 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 in the future but when you want to withdraw your cash so you offer your shares you offer your products 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 may state alright that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are simply one of those options that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you know depends totally how you’re investing however that is a charge to remember the 2nd cost that i’ve touched upon is that conversion fee now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that fits me.

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a great deal of my stocks are us dollar stocks anyhow 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 cost now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee 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 bargain with them you can’t go to the bank and say provide me us dollars instead you need to pay their charges now the fantastic aspect of though when you’ve transformed your cash you do not have to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra fees so that’s actually excellent utilizing that part of their website will not definitely restrict you in any way however we have to know two other costs the very first being what’s called spread costs all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you

on is essentially the difference that is part of the financial investment platform between the buy cost and the price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar worth 599 per share in tesla that in fact means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the present rate of tesla is the value of a share what’s called spread costs is the distinction 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 make money from you every time you do a buyer’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you say okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you want to sell it and that is how they make a bit of money on those spread out costs it’s typically exceptionally small it could be a matter of pens matter of cents in there but that’s one place every investment firm will again make a bit money now the last feat is called an

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overnight cost now this is really crucial if you’re really utilizing cfds yourself too an overnight charge is when you’re not doing that buy offer transaction in the very same day okay there’s then an overnight fee charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one utilize which suggests you’re really buying the exact asset rather than using leverage anyway you won’t get hit with these charges however these fees are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter into the assistance area this isn’t the over night charges 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 which only uses as i said to cfds there are some additional charges obviously depending upon what you are buying as well this is on your own so keep that in mind but full fees are totally within their aid info all right and we discussed in addition to complimentary to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i’ve said copy trading and copy portfolios are two different ways of in fact utilizing these copy functions they don’t have any extra costs on top of the normal charges that

exist now what you need to keep in mind though is these potentially handled by other individuals entirely or in some cases have developed portfolios you have actually got a real person doing the management you have to make certain you select the person that’s right for you similar to any line of work this is your monetary assets so we definitely require to ensure it’s the ideal individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we’ve got a couple of different alternatives for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine money or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t 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 comfy with using your genuine cash possibly this is an excellent choice for you once again to check the theories fine you might want to buy tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it obviously you might have missed out on gains and losses during that time obviously if you had actually invested your genuine cash it allows you to build self-confidence comprehend the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember prior to you select somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your threat profile is now what do i mean by that certainly 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 indicates am i all right with possibly losing an excellent quantity of this financial investment or acquiring as

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well now remember whatever is ups and downs you will generate income you’ll lose money that’s why they make the fact 75 people will lose cash but that equally implies they’ll lose at some point in their journey clearly people do earn money also and i’ve got videos all about how you can make certain you’re one of the people to in fact generate income but in this circumstance make sure you research study your risk level would you be all right providing your cash to someone else which is effectively what you’re doing and trusting them ensure you comprehend what they’re investing in totally if you’re someone who isn’t wishing to be that risky don’t choose somebody who’s completely into crypto or currency conversion think about it you ‘d probably desire a foundation of strong commodities

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like gold or perhaps oil plus more conventional etfs and index funds you might not want some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can in fact utilize this too truly quickly over here you can copy people now it will provide you a great deal of options and you can use the system to really look for someone that you expensive actually following so let’s see possibly we desire somebody from joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can find everyone who has satisfied that criteria and it does provide you a danger factor as well so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of people that have rather high returns

keep in mind 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 simple as clicking the copy button and off you go and after that you understand ask you to verify are you okay with this and off you go now another way to actually deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s go into portfolio and you can see she’s quite 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 kind of into those blue box and the tech market she’s got a few of mine actually that i buy too which is great so really for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the type of main food business and you’ve got you know pharmaceutical and production companies as that. Etoro Close My Account.

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