Etoro Vs Bitquick – Ask Mary Traders

We get htis a lot on our site the answer to Etoro Vs Bitquick….Questions that i speak with brand-new financiers what if you’re brand new to investing you merely don’t want to choose what you in fact wish to invest and you want someone to do it for you there’s just a number of manner ins which that can happen the firstly you can employ a financial investment portfolio manager they’ll typically 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 purchase mutual funds specific funds are produced 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 as well now if you’re brand new to a total please keep in mind this platform is quite advanced you can do cfds which naturally cfds are methods of investing

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with not actually having the full amount of capital so with anything that you’re discovering please do study the platform do not simply presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you in fact get utilized to the structure of the website and then when you’re ready to use your own cash 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 companies if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at danger and we have to bear that in mind do not just do something because that person has actually said they’ve made profit 14 months in a row purchase these options since you think is the right ones for you and that being stated 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 aspect that is probably.

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popular for it’s the alternative to see what other traders are doing unbelievable we don’t normally 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 actually say i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and essentially each time they make a trade they purchase they sell whatever they do your money will be mimicked with it so that means if for instance 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the fees included truly critical you understand what are the costs of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the absolutely no cost websites then may not charge you for really buying and selling etfs or funds private commodities private stocks.

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there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds 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 know prior to you really 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 advanced investor so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t costs to do with actually buying and selling alright so commission fees are free however there are a couple of other costs the first one is withdrawal costs so you can obviously put money in now if you’re in the uk we put our uk money.

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and it’s automatically converted into us dollars and i’ll cover a little point about that in the future but when you want 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 naturally understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say all right that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal costs are simply among those choices that they have a lot of platforms obviously 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 when every 6 months you know depends entirely how you’re investing but that is a fee to keep in mind the second cost that i’ve touched upon is that conversion cost now with you’re handling us dollars only there’s not a choice to purchase in euros or uk which’s fine that suits me.

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a great deal of my stocks are us dollar stocks anyhow 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 fee now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have actually i suppose stuck with whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to use their platform go from uk to us then that conversion charge is there what are they actually giving 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 rather you need to pay their costs now the excellent thing about though when you’ve transformed your money you do not have to invest it immediately that dollar value can sit in your portfolio as money dollars for as long as you like so that implies the preliminary 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 additional costs so that’s truly excellent using that part of their site won’t certainly limit you in any way nevertheless we have to understand 2 other costs the 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 show you

on is generally the difference that belongs to the investment platform between the buy rate and the sale price fine 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 value 599 per share in tesla that really implies that when you wish to offer or buy as you can see it’s not the rate you’re seeing up here let me show you that again so the present rate of tesla is the worth of a share what’s called spread charges is the distinction then really to purchase 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 purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you state alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it and that is how they make a bit of money on those spread charges it’s normally incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment company will again make a bit money now the last feat is called an

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over night charge now this is really essential if you’re in fact using cfds yourself too an overnight charge is when you’re refraining from doing that buy offer deal in the same day okay there’s then an overnight cost charged or perhaps if you go from the friday to the monday prior to sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and using time one utilize which means you’re actually buying the specific possession rather than utilizing leverage anyhow you won’t get hit with these fees but these charges are if you’re using leverage and cfds and after that you’re going to have these charges if you’re not buy offering in the exact same day so let’s state if you enter into the aid area this isn’t the overnight fees details you can see exactly the breakdown and it’ll tell 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 applies as i stated to cfds there are some additional charges obviously depending upon what you are buying too this is on your own so keep that in mind but complete charges are entirely within their aid information all right and we discussed along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 different ways of actually using these copy functions they don’t have any additional costs on top of the normal charges that

exist now what you require to bear in mind though is these possibly managed by other people totally or often have produced 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 assets so we definitely need to make sure it’s the best person for us before we copy them so the first things i would call it if you do want to utilize this function we’ve got a number of different alternatives for us first of all if you’re brand new to investing i want to draw your attention to this within you have the alternative to invest genuine cash or a virtual platform virtual means 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 details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however in fact buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your real money possibly this is a terrific option for you again to test the theories all right you might wish to purchase tesla or apple or this etf why not utilize the virtual choice as a way to type of safe have fun with it obviously you may have missed out on gains and losses throughout that time of course if you had actually invested your real money it allows you to build confidence understand the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your danger profile is now what do i indicate 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 just suggests am i fine with potentially losing an excellent quantity of this financial investment or acquiring as

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well now keep in mind whatever is downs and ups you will earn money you’ll lose cash that’s why they make the fact 75 individuals will lose money however that equally implies they’ll lose eventually in their journey certainly individuals do generate income as well and i have actually got videos all about how you can ensure you are among the people to really generate income however in this scenario make sure you research study your threat level would you be all right offering your cash to someone else which is successfully what you’re doing and trusting them ensure you understand what they’re investing in completely if you’re someone who isn’t wanting to be that dangerous don’t select somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a backbone of strong products

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like gold or perhaps oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can really utilize this too actually easily over here you can copy people now it will give you a great deal of choices and you can use the system to really search for somebody that you fancy really following so let’s see perhaps we want somebody from unified kingdom um who invests in let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds a great quantity and i can find everybody who has actually fulfilled that criteria and it does give you a threat element too 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 people that have rather high returns

bear in mind it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and then you understand ask you to confirm are you fine with this and off you go now another method 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 really purchasing so let’s go 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 understand ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got a few of mine really that i invest in too which is great so in fact for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got a good 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 companies and you’ve got you understand pharmaceutical and production companies as that. Etoro Vs Bitquick.

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