Etoro Social Trading App Review – Ask Mary

We get htis a lot on our site the answer to Etoro Social Trading App Review….Concerns that i speak with new financiers what if you’re brand new to investing you just don’t want to choose what you really want to invest and you desire somebody to do it for you there’s only a couple of ways that that can happen the to start with you can work with an investment portfolio manager they’ll usually charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally 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 an overall please keep in mind this platform is rather sophisticated 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 learning more about please do study the platform do not just presume since i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice too so you really get used to the structure of the site and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your money so clearly your capital is at risk and we have to bear that in mind do not just do something since that person has actually said they’ve made profit 14 months in a row purchase these choices because you think 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 probably.

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famous for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that implies with our money we can really state i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially every time they make a trade they purchase they offer whatever they do your money will be simulated with it so that means if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the costs involved truly vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even some of the absolutely no fee websites then might not charge you for really buying and selling etfs or funds specific commodities individual stocks.

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there’ll be charges on other parts possibly it’s our fx rate when you’re altering 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 charges with in particular in this video the next would be things to understand before you in fact begin buying copy trading or copy portfolios and finally some finest guidance finest practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with fees truly crucial to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling okay so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal charges so you can certainly put money in now if you’re in the uk we put our uk money.

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and it’s immediately converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your money so you offer 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 naturally understanding that i’m going to ensure that i’m just withdrawing when i definitely need to now you may say all right that’s quite expensive and i get that but it’s all to do with how they run their platform they need to charge costs someplace and withdrawal fees are simply one of those options that they have a lot of platforms obviously are 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 completely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re handling us dollars only there’s not an alternative to buy in euros or uk which’s great that suits me.

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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you utilize anybody so if you’re using trading 2 and 2 open market anyone at all this is standard they have i expect stuck with whatever cost they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually offering 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 say provide me us dollars rather you need to pay their costs now the terrific aspect of however when you’ve converted your cash you do not need to invest it immediately that dollar worth can sit in your portfolio as cash dollars for as long as you like so that means the initial 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 additional fees so that’s really good using that part of their website will not certainly restrict you in any way however we have to understand 2 other fees the very first being what’s called spread fees okay and i’m going to reveal you what i indicate on now a spread fee as i’m going to show you

on is generally the distinction that is part of the financial investment platform between the buy rate and the 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 right now tesla’s dollar worth 599 per share in tesla that in fact suggests that when you wish to purchase or sell as you can see it’s not the price you’re seeing up here let me show you that again so the current rate of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a small amount of make money from you every time you do a buyer’s share so keep that in mind clearly it’s more costly to buy than it is to sell so they’re going to give you less back with your sale and you say all right well why does that happen it simply does that is the nature of a great deal 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 little bit of cash on those spread fees it’s generally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a little bit money now the last feat is called an

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overnight charge now this is actually crucial if you’re actually using cfds yourself too an overnight fee is when you’re refraining from doing that buy sell transaction in the same day okay there’s then an over night fee charged and 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 product and utilizing time one utilize which means you’re in fact purchasing the specific possession instead of utilizing utilize anyhow you won’t get hit with these charges but these fees are if you’re utilizing take advantage of and cfds and then you’re going to have these fees if you’re not buy selling in the same day so let’s state if you go into the assistance area this isn’t the over night fees info you can see precisely the breakdown and it’ll inform 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 stated to cfds there are some surcharges of course depending on what you are investing in as well this is on your own so keep that in mind however full fees are entirely within their assistance information all right and we discussed along with complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds regular product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of in fact utilizing these copy operates they don’t have any additional charges on top of the normal fees that

exist now what you require to remember though is these possibly handled by other individuals completely or in some cases have developed portfolios you’ve got a genuine individual doing the management you need to make sure you select the individual that’s right for you similar to any profession this is your financial assets so we definitely 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 wish to utilize this function we have actually got a number of different alternatives for us first off if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real money or a virtual platform virtual ways i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you will not require to put in your charge card details or anything you can generally have this virtual portfolio mimic as if you are using your own money but actually buy pretend buy copy individuals whatever you like if you’re not

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feeling comfortable with using your genuine cash maybe this is a fantastic option for you again to check the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it clearly you might have missed out on gains and losses throughout that time obviously if you had actually invested your real money it enables you to develop 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 individuals and copy portfolios now here’s something to keep in mind before you pick 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 indicate by that undoubtedly 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 means am i fine with potentially losing a good amount of this financial investment or getting as

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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the fact 75 people will lose cash but that equally indicates they’ll lose at some time in their journey certainly individuals do generate income as well and i’ve got videos all about how you can make certain you are among individuals to in fact generate income however in this situation ensure you research your threat level would you be all right providing your cash to somebody else which is efficiently what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re someone who isn’t wanting to be that dangerous do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products

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like gold or perhaps oil plus more traditional 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 in fact use this too truly quickly over here you can copy people now it will offer you a great deal of choices and you can use the system to actually look for somebody that you elegant actually following so let’s see maybe we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can find everyone who has satisfied that requirements and it does give you a danger factor also so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a variety of individuals that have rather high returns

bear in mind it’s like anything to do with the news or forecasts of the future this does not imply somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no other way to guarantee 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 method to in fact deep dive if we click this person for instance ruby mza as an example you can in fact deep dive into what is she actually buying so let’s enter 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 a few of mine really that i purchase too which is good so really for me knowing what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that seems to be what she prefers she’s likewise got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Social Trading App Review.

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