Etoro Vs Mycelium – Ask Mary

We get htis a lot on our site the answer to Etoro Vs Mycelium….Concerns that i speak with new investors what if you’re brand new to investing you merely do not want to choose what you actually want to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first of all you can hire a financial investment portfolio supervisor they’ll usually 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 naturally you can purchase mutual funds particular funds are created again with an account supervisor 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 naturally cfds are methods of investing

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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform don’t just presume due to the fact that i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual money they give that alternative too so you in fact get utilized to the structure of the site and after that 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 purchasing real companies if you select to in this particular video we’re discussing how to copy other people’s investments with your cash so obviously your capital is at danger and we have to bear that in mind do not simply do something since that person has actually stated they have actually made earnings 14 months in a row purchase these choices since you believe is the best ones for you which 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 aspect that is probably.

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popular for it’s the option to see what other traders are doing extraordinary we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i want to do exactly what that trader is doing or match that exact portfolio of options and generally whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that suggests if for instance 10 of their 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 costs included really important you understand what are the expenses of this now with any platform there will be some cost to certainly 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 some of the zero charge sites then may not charge you for actually buying and selling etfs or funds individual products specific stocks.

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there’ll be charges on other parts maybe it’s our fx rate when you’re altering 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 costs with in particular in this video the next would be things to understand before you really begin buying copy trading or copy portfolios and lastly some best recommendations finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really important to understand these now on there’s a number of costs there isn’t charges to do with in fact buying and selling fine so commission fees are totally free nevertheless there are a number of other fees the very first one is withdrawal fees so you can certainly put money in now if you remain 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 later however when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re selling 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 ensure that i’m only withdrawing when i definitely need to now you may say 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 costs somewhere and withdrawal costs are simply among those options that they have a lot of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely 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 bear in mind the second cost that i’ve touched upon is that conversion charge now with you’re handling us dollars only there’s not an option 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 or perhaps some crypto so i’m good 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 free trade anyone at all this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they actually providing you in terms of 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 rather you have to pay their fees now the terrific feature of however when you have actually transformed your money you do not need to invest it immediately that dollar worth can sit in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any extra fees so that’s truly excellent utilizing that part of their site will not certainly limit you in any way nevertheless we need to be aware of two other charges the first being what’s called spread fees okay and i’m going to show you what i mean on now a spread cost as i’m going to reveal you

on is basically the distinction that belongs to the financial investment platform between the buy rate and the price okay 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 really indicates that when you wish to sell or purchase as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing rate of tesla is the value of a share what’s called spread fees is the distinction then in fact to purchase that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to give you less back with your sale and you state fine well why does that happen it simply does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you want to offer it which is how they make a bit of cash on those spread costs it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one place every investment company will once again make a bit cash now the last task is called an

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overnight fee now this is truly essential if you’re actually using cfds yourself as well an over night fee is when you’re refraining from doing that buy offer transaction in the very same day alright there’s then an overnight cost charged or even if you go from the friday to the monday before sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the product and using time one utilize which indicates you’re in fact buying the specific asset instead of using leverage anyhow you won’t get hit with these charges but these costs are if you’re utilizing leverage and cfds and then you’re going to have these charges 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 overnight fees details 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 over night or you’re doing over weekends which just applies as i stated to cfds there are some surcharges naturally depending on what you are investing in too this is on your own so keep that in mind but complete costs are entirely within their assistance information all right and we spoke about in addition to complimentary to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal commodity stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of actually utilizing these copy works they don’t have any extra charges on top of the normal charges that

are there now what you require to remember though is these possibly handled by other individuals entirely or in some cases have created portfolios you have actually got a genuine individual doing the management you have to make sure you select the individual that’s right for you much like any type of work this is your financial assets so we definitely need to ensure it’s the best person 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 number of various alternatives for us first of all if you’re brand new to investing i wish to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual means i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own money but really purchase pretend buy copy individuals whatever you like if you’re not

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feeling comfy with utilizing your real cash maybe this is a terrific option for you again to test the theories fine you might want to buy tesla or apple or this etf why not use the virtual alternative as a way to kind of safe play with it undoubtedly you might have missed out on gains and losses during that time naturally if you had actually invested your genuine money it permits you to develop self-confidence understand the platform so that’s one choice for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive actually how to copy people and copy portfolios now here’s something to bear in mind before you pick someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your threat profile is now what do i imply 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 run the risk of simply suggests am i all right with possibly losing an excellent quantity of this investment or acquiring as

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well now keep in mind whatever is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 people will lose cash but that similarly indicates they’ll lose eventually in their journey clearly individuals do generate income as well and i’ve got videos all about how you can make sure you are among the people to in fact make money but in this circumstance make sure you research study your danger level would you be all right giving your cash to someone else which is successfully what you’re doing and trusting them make certain you comprehend what they’re investing in totally if you’re somebody who isn’t wanting to be that risky don’t choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities

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like gold or even oil plus more traditional 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 utilize this too really easily over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for somebody that you elegant in fact following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds fair that sounds an excellent quantity and i can find everybody who has satisfied that requirements and it does provide you a threat factor as well so it tends to be the higher the number the more riskier they are with their stock investing now clearly 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 indicate someone will make 56 for you for the next 12 months they could make 4 or minus 50 there’s no chance to guarantee so do keep that in mind and as simple 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 way to really deep dive if we click this person for example ruby mza as an example you can in fact deep dive into what is she in fact buying 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 great 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 in fact that i purchase too which is good so really for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears to be what she chooses she’s likewise got a bit more um of the sort of main food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Vs Mycelium.

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