How To Transfer From Etoro To Kucoin – Ask Mary Traders

We get htis a lot on our site the answer to How To Transfer From Etoro To Kucoin….Questions that i hear from new investors what if you’re brand new to investing you merely do not wish to choose what you actually want to invest and you want somebody to do it for you there’s just a couple of manner ins which that can happen the first off you can employ an investment portfolio supervisor they’ll typically charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds particular funds are created 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 also now if you’re brand new to an overall please keep in mind this platform is rather advanced you can do cfds which of course cfds are ways of investing

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with not actually having the total of capital so with anything that you’re learning about please do study the platform don’t just assume since i use it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual cash they give that alternative too so you actually 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 naturally your capital is at threat this is investing we’re doing you’re buying real business if you choose to in this specific video we’re discussing how to copy other people’s financial investments with your money so obviously your capital is at threat and we need to bear that in mind do not just do something because that person has said they’ve made revenue 14 months in a row purchase these choices due to the fact that you think is the best 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 aspect that is most likely.

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well-known for it’s the alternative to see what other traders are doing incredible we do not typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that means with our cash we can really say i wish to do precisely what that trader is doing or match that exact portfolio of choices and generally each time they make a trade they purchase they sell whatever they do your cash will be simulated with it so that indicates if for instance 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 likewise cover is the fees included actually crucial you comprehend 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 some of the zero charge sites then might not charge you for really buying and selling funds or etfs private commodities specific stocks.

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there’ll be fees on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of charges 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 prior to you in fact begin investing in copy trading or copy portfolios and lastly some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s start with charges actually important to understand these now on there’s a number of costs there isn’t costs to do with really buying and selling all right so commission costs are free however there are a couple of other fees the very first one is withdrawal costs so you can obviously put cash in now if you’re in the uk we put our uk cash.

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and it’s instantly 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 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 five 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 state okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those choices that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year as soon as every 6 months you understand depends totally how you’re investing however that is a charge to keep in mind the 2nd cost that i’ve touched upon is that conversion charge now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk and that’s fine that matches me.

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a lot of my stocks are us dollar stocks anyway or the etfs that i’m purchasing or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you use anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have i expect stuck with whatever fee they charge for that conversion rate you sort of have to accept you know if you wish to utilize their platform go from uk to us then that conversion charge is there what are they actually offering 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 state offer me us dollars instead you need to pay their costs now the great feature of however when you’ve converted your money you do not need 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 preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional costs so that’s really great utilizing that part of their website won’t certainly limit you in any way nevertheless we need to understand two other costs the very first being what’s called spread costs all right and i’m going to reveal you what i indicate on now a spread fee as i’m going to reveal you

on is basically the difference that becomes part of the investment platform between the buy price and the price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that in fact indicates that when you wish to buy or offer as you can see it’s not the price you’re seeing up here let me reveal you that once again so the current cost of tesla is the worth of a share what’s called spread charges is the difference then actually to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of make money from you whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it which is how they make a bit of money on those spread out costs it’s typically exceptionally little it could be a matter of pens matter of cents in there but that’s one place every investment firm will once again make a little bit cash now the last task is called an

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over night charge now this is truly important if you’re in fact using cfds yourself too an overnight charge is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an overnight fee charged or even if you go from the friday to the monday prior to sailing a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re really purchasing the specific possession instead of using utilize anyhow you will not get hit with these fees however these charges are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you go into the help area this isn’t the overnight charges 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 which just applies as i said to cfds there are some service charges of course depending on what you are purchasing as well this is on your own so keep that in mind however complete fees are totally within their assistance info all right and we spoke about in addition to free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i’ve stated copy trading and copy portfolios are two various ways of really using these copy works they don’t have any extra fees on top of the typical costs that

exist now what you need to remember though is these possibly managed by other people entirely or sometimes have actually 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 profession this is your financial possessions so we definitely need to make certain it’s the ideal person for us before we copy them so the first things i would call it if you do want to use this function we’ve got a couple of various 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 real cash or a virtual platform virtual means i believe you get yep a hundred thousand dollars to play with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can generally have this virtual portfolio mimic as if you are using your own cash but really buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your real money perhaps this is a fantastic option for you again to test the theories all right you might want to purchase tesla or apple or this etf why not use the virtual choice as a way to sort of safe have fun with it certainly you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it permits you to construct 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 really how to copy individuals and copy portfolios now here’s something to keep in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your risk profile is now what do i mean by that undoubtedly 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 means am i alright with potentially losing a good quantity of this financial investment or gaining as

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well now keep in mind whatever is downs and ups you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash however that equally means they’ll lose at some point in their journey undoubtedly people do earn money too and i have actually got videos everything about how you can make certain you’re one of the people to in fact 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 effectively what you’re doing and trusting them make certain you understand what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d probably want a backbone of strong products

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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i say you can actually utilize this too actually quickly over here you can copy individuals now it will offer 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 joined kingdom um who buys let’s see who does etfs they’ve acquired at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everybody who has actually satisfied that requirements and it does provide you a threat aspect as well so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns

remember it’s like anything to do with the news or predictions of the future this does not imply 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 basic as clicking the copy button and off you go and after that you understand ask you to verify are you fine with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can actually 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 definitely like sort of into those blue box and the tech market she’s got a few of mine actually that i purchase too which is excellent so in fact for me knowing what i like to purchase my individual 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 little bit more um of the sort of main food companies and you’ve got you understand pharmaceutical and production companies as that. How To Transfer From Etoro To Kucoin.

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