How To Protect Your Etoro Wallet – Ask Mary Traders

We get htis a lot on our site the answer to How To Protect Your Etoro Wallet….Concerns that i hear from new investors what if you’re brand new to investing you merely do not wish to decide what you really wish to invest and you desire somebody to do it for you there’s only a number of ways that that can occur the to start with you can employ a financial investment portfolio supervisor they’ll generally charge a quite a high premium to do that maybe one or two percent of your revenues will go to them the other thing is obviously you can purchase mutual funds specific funds are developed 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 a total please remember this platform is quite 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 because i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that option too so you in fact get utilized to the structure of the website and after that 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 danger this is investing we’re doing you’re investing in real companies if you select to in this specific video we’re talking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has said they’ve made revenue 14 months in a row purchase these choices because you believe is the right ones for you which being said let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of social trading which is one aspect that is probably.

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well-known for it’s the choice to see what other traders are doing unbelievable we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that indicates with our money we can really state i want to do precisely what that trader is doing or match that specific portfolio of options and basically each time they make a trade they purchase they offer whatever they do your cash will be mimicked with it so that implies if for example 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 also cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some cost to undoubtedly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no charge sites then might not charge you for actually buying and selling etfs or funds private commodities specific stocks.

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there’ll be fees on other parts maybe 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 costs with in particular in this video the next would be things to understand before you in fact start buying copy trading or copy portfolios and lastly some finest advice best practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s begin with costs really important to understand these now on there’s a number of charges there isn’t fees to do with in fact buying and selling okay so commission charges are free however there are a couple of other fees the first one is withdrawal fees so you can undoubtedly 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 later however when you want to withdraw your cash so you sell your shares you offer your products whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course understanding that i’m going to make sure 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 have to charge fees somewhere and withdrawal costs are just among 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 perhaps even once a year as soon as every six months you understand depends completely how you’re investing but that is a fee to keep in mind the 2nd fee 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 great that matches me.

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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is standard they have i expect stuck to whatever cost they charge for that conversion rate you sort of need to accept you understand if you wish to use their platform go from uk to us then that conversion charge is there what are they in fact offering 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 give me us dollars rather you need to pay their costs now the great feature of though when you’ve converted your money you do not have to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra costs so that’s actually excellent utilizing that part of their site will not certainly restrict you in any way however we need to understand two other fees the first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you

on is basically the difference that belongs to the investment platform in 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 actually means that when you want to sell or buy as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current rate of tesla is the worth of a share what’s called spread fees is the difference then in fact to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of benefit from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to provide you less back with your sale and you state 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 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 out fees it’s usually exceptionally little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a little bit cash now the last accomplishment is called an

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over night cost now this is truly important if you’re in fact utilizing cfds yourself also an overnight cost is when you’re not doing that buy sell transaction in the very same day all right there’s then an over night charge charged or perhaps if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which indicates you’re in fact buying the precise asset rather than using leverage anyhow you will not get hit with these fees but these costs are if you’re using leverage and cfds and after that you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the help section this isn’t the over night costs information you can see precisely the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing over night or you’re doing over weekends which only uses as i said to cfds there are some service charges obviously depending upon what you are purchasing as well this is on your own so keep that in mind however complete charges are entirely within their help info alright and we discussed as well as free to deposit in however there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of really utilizing these copy works they do not have any extra fees on top of the regular costs that

exist now what you require to remember though is these potentially managed by other individuals totally or sometimes have actually created portfolios you have actually got a genuine individual doing the management you have to ensure you choose the person that’s right for you much like any type of work this is your financial possessions so we absolutely require to make sure it’s the right individual 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 options for us first off if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest genuine cash or a virtual platform virtual means i think 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 credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however really buy pretend buy copy individuals whatever you like if you’re not

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feeling comfy with utilizing your real cash possibly this is an excellent choice for you again to check the theories fine you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe play with it clearly you might have missed out on gains and losses throughout that time naturally if you had actually invested your real money it allows you to build confidence understand the platform so that’s one choice for you then next week and i’m going to go back 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 select 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 suggest by that obviously for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of simply suggests am i okay with possibly losing a great quantity of this financial investment or acquiring as

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well now remember everything is ups and downs you will generate income you’ll lose money that’s why they make the figure 75 individuals will lose money but that similarly suggests they’ll lose at some point in their journey obviously people do generate income too and i’ve got videos all about how you can make certain you are among individuals to actually earn money but in this circumstance make certain you research study your risk level would you be all right offering your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing fully if you’re somebody who isn’t wanting to be that dangerous do not pick somebody who’s completely into crypto or currency conversion consider it you ‘d probably want 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 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 utilize the system to really search for someone that you elegant in fact following so let’s see perhaps we want someone from united kingdom um who purchases let’s see who does etfs they have actually gained a minimum of 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has met that criteria and it does provide you a danger aspect too so it tends to be the greater the number the more riskier they are with their stock investing now obviously there are a variety of individuals that have rather high returns

remember it resembles anything to do with the news or forecasts of the future this does not suggest someone will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no other way to ensure so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to confirm are you fine with this and off you go now another method to in fact deep dive if we click on this person for example ruby mza as an example you can really deep dive into what is she in fact buying so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like sort of into those blue box and the tech industry she’s got a few of mine actually that i buy too which is excellent so in fact for me understanding what i like to purchase 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 chooses she’s likewise got a bit more um of the kind of main food business and you have actually got you understand pharmaceutical and production companies as that. How To Protect Your Etoro Wallet.

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