Etoro Is A Rip Off – Ask Mary

We get htis a lot on our site the answer to Etoro Is A Rip Off….Questions that i hear from new investors what if you’re brand new to investing you merely do not wish to decide what you really want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first off you can work with a financial investment portfolio manager they’ll typically charge a rather a high premium to do that possibly a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are created once 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 an overall please keep in mind this platform is rather 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 finding out about please do study the platform do not just assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they consider that option also so you in fact get utilized to the structure of the site and then when you’re ready to use your own cash to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re talking about how to copy other individuals’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not simply do something since that individual has actually stated they’ve made profit 14 months in a row purchase these choices due to the fact that you believe is the right ones for you and that being stated 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 element that is most likely.

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well-known for it’s the alternative to see what other traders are doing extraordinary we don’t typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i want to do exactly what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that indicates 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 costs involved really crucial you understand what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no charge websites then might not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.

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there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 prior to you really begin buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s start with charges really crucial to comprehend these now on there’s a number of fees there isn’t costs to do with actually buying and selling all right so commission fees are complimentary nevertheless there are a number of other costs the very first one is withdrawal costs so you can certainly put money in now if you remain 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 but when you wish to withdraw your money so you offer your shares you offer 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 knowing that i’m going to make certain that i’m only withdrawing when i absolutely require to now you may state alright that’s quite expensive and i get that but it’s all to do with how they run their platform they have to charge fees someplace and withdrawal charges are just one of those alternatives that they have a lot of platforms certainly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year as soon as every six months you know depends entirely how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve touched upon is that conversion cost now with you’re handling us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches 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 good 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 anyone at all this is basic they have i suppose stuck with whatever charge they charge for that conversion rate you type of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion fee exists what are they really giving you in terms of 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 say offer me us dollars rather you have to pay their fees now the great feature of however when you’ve converted your cash you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their site won’t certainly limit you in any way nevertheless we need to understand 2 other fees the very first being what’s called spread charges okay and i’m going to show you what i indicate on now a spread cost as i’m going to show you

on is basically the difference that is part of the investment platform between the buy rate and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact implies that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the present cost of tesla is the worth of a share what’s called spread charges is the distinction then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to offer you less back with your sale and you state alright 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 want to offer it and that is how they make a little bit of cash on those spread costs it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit cash now the last feat is called an

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over night fee now this is really important if you’re in fact utilizing cfds yourself as well an over night fee is when you’re not doing that buy offer deal in the exact same day all right there’s then an over night charge charged or even if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which suggests you’re really purchasing the exact asset instead of using utilize anyway you won’t get hit with these costs however these fees are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the help area this isn’t the over night 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 and that only uses as i said to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however complete costs are totally within their assistance details fine and we spoke about along with free to deposit in but 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 cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really utilizing these copy operates they do not have any extra costs on top of the typical charges that

are there now what you need to bear in mind though is these potentially handled by other individuals entirely or sometimes have 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 profession this is your financial possessions so we absolutely need to ensure it’s the ideal individual for us before we copy them so the first things i would call it if you do want to use this function we’ve got a number of various options for us first off if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can generally have this virtual portfolio imitate as if you are using your own cash but in fact buy pretend buy copy people whatever you like if you’re not

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feeling comfy with utilizing your real cash possibly this is an excellent alternative for you once again to evaluate the theories alright you may wish to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it certainly you might have lost out on gains and losses during that time obviously if you had actually invested your genuine cash it allows you to construct confidence understand 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 people and copy portfolios now here’s something to bear in mind before you select someone that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your danger 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 run the risk of simply implies am i all right with possibly losing a great quantity of this financial investment or getting as

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well now keep in mind everything is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 individuals will lose money but that equally implies they’ll lose at some point in their journey clearly people do earn money too and i’ve got videos all about how you can make certain you’re one of the people to really generate income but in this scenario make certain you research study your risk level would you be okay providing your money to another person which is effectively what you’re doing and trusting them make certain you comprehend what they’re buying fully if you’re somebody who isn’t wishing to be that dangerous don’t select someone who’s entirely into crypto or currency conversion consider it you ‘d probably want a backbone of strong products

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like gold or even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i say you can in fact use this too really easily over here you can copy people now it will provide you a lot of choices and you can utilize the system to really search for someone that you expensive really following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually satisfied that requirements and it does provide you a threat factor too so it tends to be the greater the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns

keep in mind it’s like anything to do with the news or predictions of the future this does not mean somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no way to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you understand ask you to verify are you all right with this and off you go now another method to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she really purchasing so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is great so in fact for me knowing what i like to invest in my individual stocks and shares she would resonate with me she’s got a great spread in tech business that appears to be what she prefers she’s also got a bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Is A Rip Off.

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