How To Set Up Etoro App – Ask Mary Traders

We get htis a lot on our site the answer to How To Set Up Etoro App….Questions that i hear from brand-new investors what if you’re brand new to investing you simply don’t wish to decide what you actually wish to invest and you want someone to do it for you there’s just a couple of ways that that can happen the firstly you can hire a financial investment portfolio manager they’ll usually charge a rather a high premium to do that perhaps one or two percent of your profits will go to them the other thing is of course you can buy mutual funds particular funds are produced 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 also now if you’re brand new to an overall please keep in mind this platform is quite innovative you can do cfds which of course 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 don’t just assume since i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual cash they give that alternative too so you really get used 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 risk this is investing we’re doing you’re purchasing real business if you pick to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so clearly your capital is at risk and we need to bear that in mind do not simply do something because that individual has said they’ve made revenue 14 months in a row invest in these options due to the fact that you think is the right ones for you and that being stated let’s dive straight in [Music] so the important 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 option to see what other traders are doing incredible we don’t typically 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 actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be simulated 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 actually vital you understand what are the costs of this now with any platform there will be some expense to undoubtedly these are genuine business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for really buying and selling funds or etfs private commodities specific stocks.

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there’ll be charges on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all sort 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 in fact start purchasing copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your more advanced investor so let’s start with fees really essential to understand these now on there’s a number of charges there isn’t charges to do with in fact buying and selling alright so commission costs are totally free nevertheless there are a couple of other costs the very first one is withdrawal charges so you can clearly 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 later on however when you want to withdraw your cash so you sell your shares you sell 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 ensure that i’m just withdrawing when i absolutely require to now you may state fine that’s rather costly and i get that however it’s all to do with how they run their platform they have to charge costs someplace and withdrawal fees are simply one of those alternatives that they have a great deal of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends totally how you’re investing but that is a fee to keep in mind the 2nd charge that i have actually touched upon is that conversion fee now with you’re handling us dollars just there’s not an option to buy in euros or uk and that’s fine that suits me.

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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading two and 2 free trade anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you sort of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee exists what are they in fact providing 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 give me us dollars rather you have to pay their costs now the terrific aspect of though when you’ve transformed your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that suggests 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 extra fees so that’s truly excellent using that part of their site won’t certainly restrict you in any way however we have to know 2 other costs the very first being what’s called spread charges fine and i’m going to reveal you what i imply on now a spread charge as i’m going to reveal you

on is essentially the distinction that is part of the investment platform in between the buy rate and the sale price alright 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 in fact means that when you want to offer or buy as you can see it’s not the price you’re seeing up here let me reveal you that once again so the present price of tesla is the value of a share what’s called spread fees is the difference then really to purchase that share on the platform and you’ll discover this everywhere this is another way that they make a percentage of make money from you every time you do a purchaser’s share so keep that in mind certainly 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 lot of platforms out there there’s a distinction between if you’re buying it then you wish to sell it which is how they make a bit of cash on those spread costs it’s usually incredibly little 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 task is called an

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overnight cost now this is actually important if you’re actually using cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the exact same day fine there’s then an over night fee charged or even if you go from the friday to the monday before cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one leverage which indicates you’re actually buying the precise property rather than utilizing leverage anyway you won’t get hit with these charges however these fees are if you’re utilizing take advantage of 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 aid 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 charges then for when you’re doing over night or you’re doing over weekends and that just uses as i stated to cfds there are some additional charges obviously depending on what you are buying as well this is on your own so keep that in mind but full costs are entirely within their aid information okay and we spoke about along with complimentary to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares whatever there’s that 5 dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different ways of actually using these copy functions they don’t have any additional costs on top of the regular charges that

exist now what you need to remember though is these possibly handled by other individuals completely or sometimes have developed portfolios you have actually got a genuine individual doing the management you have to make certain you pick the individual that’s right for you much like any line of work this is your financial assets so we definitely need to make certain it’s the right person for us before we copy them so the first things i would call it if you do want to use this function we have actually got a couple of various options for us to start with 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 ways 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 need to put in your credit card details or anything you can generally have this virtual portfolio simulate as if you are using your own money however actually buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your real cash possibly this is a terrific alternative for you again to test the theories okay you might wish to buy tesla or apple or this etf why not utilize the virtual alternative as a way to kind of safe have fun with it clearly you may have missed out on gains and losses during that time obviously if you had invested your genuine money it enables you to build self-confidence understand the platform so that’s one choice for you then next week and i’m going to go back to my real 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 choose someone that you’re going to copy or a portfolio you’re going to copy make sure 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 just indicates am i fine with possibly losing a great amount of this financial investment or getting as

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well now keep in mind everything is downs and ups you will earn money you’ll lose cash that’s why they make the statistic 75 individuals will lose money however that similarly means they’ll lose eventually in their journey undoubtedly people do make money also and i have actually got videos everything about how you can ensure you’re one of the people to actually make money however in this situation make certain you research study your threat level would you be okay providing your cash to another person which is successfully what you’re doing and trusting them ensure you understand what they’re purchasing fully if you’re someone who isn’t wanting to be that dangerous do not choose someone who’s completely into crypto or currency conversion think about it you ‘d most likely want a foundation of strong products

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like gold and even oil plus more conventional etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i say you can actually utilize 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 somebody that you fancy in fact following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gained at least 10 yeah that sounds fair that sounds a great amount and i can discover everybody who has actually satisfied that criteria and it does provide you a risk element 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

remember it’s like anything to do with the news or forecasts of the future this does not mean someone will make 56 for you for the next 12 months they could make four 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 then you know ask you to confirm are you okay with this and off you go now another method to in fact deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she really investing in 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 absolutely like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is excellent so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that appears to be what she chooses she’s likewise got a bit more um of the type of primary food business and you’ve got you understand pharmaceutical and production business as that. How To Set Up Etoro App.

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