Paper Money Account Etoro – Ask Mary Traders

We get htis a lot on our site the answer to Paper Money Account Etoro….Questions that i speak with new financiers what if you’re brand new to investing you just don’t wish to choose what you actually wish to invest and you want somebody to do it for you there’s just a number of ways that that can take place the first off you can employ an investment portfolio manager they’ll generally charge a rather a high premium to do that possibly a couple of percent of your earnings will go to them the other thing is naturally you can buy mutual funds specific funds are created 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 also now if you’re brand new to an overall please bear in mind this platform is quite advanced you can do cfds which of course cfds are ways of investing

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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t just assume due to the fact that i utilize it that you can use it immediately do some due diligence have a little experiment with it even invest with virtual money they consider that choice too so you actually get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re buying real companies if you choose to in this particular video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at risk and we need to bear that in mind do not just do something because that individual has actually stated they have actually made revenue 14 months in a row buy these options since you think is the right ones for you which being stated let’s dive directly 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 aspect that is most likely.

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well-known for it’s the choice to see what other traders are doing extraordinary we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can actually state i want to do precisely what that trader is doing or match that specific portfolio of options and basically whenever they make a trade they buy they sell whatever they do your cash will be mimicked with it so that means if for example 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 also cover is the fees involved really important you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the zero fee sites then might not charge you for in fact buying and selling etfs or funds private products specific stocks.

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there’ll be costs on other parts maybe 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 reveal you the charges with in particular in this video the next would be things to understand prior to you actually start purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you start your journey or your more advanced investor so let’s begin with fees actually crucial to understand these now on there’s a number of fees there isn’t costs to do with actually buying and selling fine so commission charges 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’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 however when you want to withdraw your cash so you sell your shares you offer your products 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 sure that i’m just withdrawing when i definitely need to now you might say fine that’s quite expensive and i get that however it’s all to do with how they run their platform they need to charge costs someplace and withdrawal costs are simply among those options that they have a lot of platforms clearly are free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand 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 fine that suits me.

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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m good with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re using trading 2 and 2 open market anybody this is basic they have i suppose stuck to whatever fee they charge for that conversion rate you sort of need to accept you understand if you wish to utilize their platform go from uk to us then that conversion cost 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 haggle with them you can’t go to the bank and say give me us dollars instead you have to pay their charges now the great feature of however when you’ve transformed your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional charges so that’s really good using that part of their site will not definitely limit you in any way however we need to be aware of 2 other charges the very 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 essentially the difference that belongs to the financial investment platform in between the buy price and the sale price alright 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 means that when you wish to buy or sell as you can see it’s not the cost 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 buy that share on the platform and you’ll find this everywhere this is another way that they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind clearly it’s more costly to purchase than it is to offer so they’re going to offer you less back with your sale and you state fine well why does that occur 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 and that is how they make a bit of cash on those spread out fees it’s usually exceptionally small it could be a matter of pens matter of cents in there however that’s one location every investment firm will once again make a bit money now the last task is called an

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over night charge now this is really crucial if you’re actually using cfds yourself too an overnight cost is when you’re refraining from doing that buy offer deal in the very same day all right there’s then an over night fee charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the product and using time one take advantage of which means you’re actually purchasing the specific possession instead of using utilize anyway you won’t get hit with these costs but these costs are if you’re utilizing take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the same day so let’s say if you go into the assistance section this isn’t the overnight costs details you can see precisely the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing overnight or you’re doing over weekends and that just applies as i said 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 fees are entirely within their help information all right and we discussed in addition to complimentary to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of in fact utilizing these copy works they do not have any additional charges on top of the regular fees that

are there now what you require to bear in mind though is these potentially handled by other people totally or in some cases have actually created portfolios you have actually got a real individual doing the management you need to make certain you select the individual that’s right for you just like any kind of work this is your financial properties so we absolutely need to make sure it’s the best individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different choices for us to start with if you’re brand new to investing i wish to draw your attention to this within you have the alternative to invest real cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not need to put in your charge card information or anything you can essentially have this virtual portfolio mimic as if you are using your own money but really buy pretend buy copy people whatever you like if you’re not

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feeling comfortable with utilizing your genuine cash maybe this is a great option for you once again to check the theories fine you may want to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe play with it certainly you might have lost out on gains and losses throughout that time of course if you had actually invested your real cash it enables you to develop self-confidence comprehend 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 in fact how to copy people and copy portfolios now here’s something to bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i indicate by that undoubtedly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be run the risk of just implies am i all right with potentially losing a great quantity of this investment or getting as

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well now keep in mind everything is ups and downs you will generate income you’ll lose money that’s why they make the statistic 75 people will lose money but that equally implies they’ll lose at some time in their journey undoubtedly people do generate income as well and i have actually got videos everything about how you can ensure you are among the people to in fact make money but in this circumstance ensure you research your threat level would you be fine offering your money to someone else which is efficiently what you’re doing and trusting them ensure you understand what they’re buying totally if you’re someone who isn’t wishing to be that risky do not pick someone who’s entirely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong products

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like gold or even oil plus more conventional 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 use this too really easily over here you can copy individuals now it will offer you a lot of options and you can use the system to really look for somebody that you fancy actually following so let’s see maybe we desire someone from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has satisfied that requirements and it does give you a danger aspect too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of people that have quite high returns

bear in mind it resembles anything to do with the news or predictions of the future this does not imply somebody will make 56 for you for the next 12 months they might make four or minus 50 there’s no other way to guarantee so do keep that in mind and as basic as clicking the copy button and off you go and then you understand ask you to validate are you okay 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 really deep dive into what is she actually buying so let’s enter 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 know ibm paypal yep she’s absolutely like kind of into those blue box and the tech market she’s got some of mine really that i buy too which is great so actually for me understanding what i like to buy my private stocks and shares she would resonate with me she’s got an excellent spread in tech companies that appears to be what she prefers she’s also got a little bit more um of the kind of main food business and you’ve got you know pharmaceutical and production companies as that. Paper Money Account Etoro.

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