Etoro Currency Change – Ask Mary Traders

We get htis a lot on our site the answer to Etoro Currency Change….Concerns that i hear from brand-new investors what if you’re brand new to investing you simply don’t want to decide what you in fact want to invest and you desire someone to do it for you there’s only a couple of manner ins which that can occur the firstly you can work with an investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is obviously you can buy mutual funds specific 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 also now if you’re brand new to an overall please remember this platform is quite advanced you can do cfds which of course 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 finding out about please do study the platform don’t just presume due to the fact that i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they give that alternative also so you actually get used 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 naturally your capital is at risk this is investing we’re doing you’re buying real business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not just do something since that individual has stated they have actually made profit 14 months in a row buy these options due to the fact that you think is the right 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 alternative 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 therefore that implies with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices 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 likewise cover is the fees involved actually crucial you comprehend what are the expenses of this now with any platform there will be some expense to clearly 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 no cost sites then may not charge you for really buying and selling etfs or funds private products private stocks.

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there’ll be costs on other parts maybe 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 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 lastly some best suggestions best practices if you are thinking about this as a tool whether you start your journey or your advanced investor so let’s kick off with fees actually crucial to understand these now on there’s a couple of costs there isn’t charges to do with in fact buying and selling all right so commission fees are free nevertheless there are a number of other charges the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk cash.

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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you want to withdraw your money 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 5 dollars per withdrawal so for me obviously understanding that i’m going to make certain that i’m just withdrawing when i definitely need to now you may say alright that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those options that they have a lot of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year when every six months you know depends entirely how you’re investing but that is a charge to bear in mind the 2nd cost that i’ve discussed is that conversion fee now with you’re dealing in us dollars only there’s not a choice to purchase in euros or uk which’s fine that matches me.

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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 free trade anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they actually 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 state offer me us dollars instead you need to pay their costs now the great thing about however when you have actually transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as cash dollars for as long as you like so that suggests the preliminary day that you buy or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really excellent using that part of their website will not definitely restrict you in any way nevertheless we have to know 2 other costs the very first being what’s called spread costs okay and i’m going to show you what i mean 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 in between the buy cost and the list price okay it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to offer or purchase as you can see it’s not the price you’re seeing up here let me show you that once again so the current rate of tesla is the value of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll find this all over this is another way that they make a small amount of benefit from you every time you do a purchaser’s share so keep that in mind clearly it’s more expensive to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that occur it simply does that is the nature of a lot of platforms out there there’s a difference in 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 charges it’s typically extremely little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a bit cash now the last feat is called an

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overnight charge now this is really essential if you’re really using cfds yourself as well an over night fee is when you’re refraining from doing that buy sell transaction in the same day all right there’s then an overnight fee charged and even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one leverage which suggests you’re really purchasing the precise possession instead of using utilize anyhow you will not get hit with these fees but these fees are if you’re utilizing utilize 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 state if you enter into the help area this isn’t the overnight charges information you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some additional charges obviously depending upon what you are purchasing also this is on your own so keep that in mind however full fees are totally within their help info all right and we talked about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are 2 different methods of actually utilizing these copy operates they don’t have any extra charges on top of the normal costs that

exist now what you need to bear in mind though is these possibly managed by other individuals completely or often have actually developed portfolios you’ve got a real person doing the management you have to make certain you select the individual that’s right for you much like any kind of work this is your monetary properties so we absolutely require to make sure it’s the ideal individual for us prior to 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 various options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real 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 will not require to put in your charge card information or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however in fact purchase pretend buy copy people whatever you like if you’re not

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feeling comfy with utilizing your genuine cash maybe this is an excellent alternative for you again to test the theories alright you might wish to buy tesla or apple or this etf why not utilize the virtual choice as a way to type of safe play with it undoubtedly you may have missed out on gains and losses throughout that time of course if you had invested your real cash it permits you to build 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 really how to copy individuals and copy portfolios now here’s something to bear in mind prior to you select someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i suggest by that certainly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be risk simply suggests am i all right with possibly losing a great quantity of this financial investment or acquiring as

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well now remember whatever is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 people will lose cash but that similarly means they’ll lose at some time in their journey undoubtedly people do make money too and i’ve got videos all about how you can make sure you’re one of individuals to in fact make money however in this situation ensure you research your danger level would you be fine giving your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying totally if you’re someone who isn’t wishing to be that dangerous do not pick someone who’s completely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities

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like gold or perhaps oil plus more standard etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can actually utilize this too truly easily over here you can copy individuals now it will provide you a lot of choices and you can use the system to in fact look for someone that you fancy actually following so let’s see possibly we want somebody from unified kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can discover everybody who has actually satisfied that criteria and it does offer you a danger factor as well so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a variety of individuals that have rather high returns

remember it’s like anything to do with the news or predictions of the future this does not mean someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to verify are you fine with this and off you go now another method to in fact deep dive if we click this person for example ruby mza as an example you can actually deep dive into what is she in fact buying 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 good to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is excellent so in fact for me understanding what i like to buy my specific stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s also got a bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Currency Change.

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