Top Mistakes Etoro – Ask Mary Traders

We get htis a lot on our site the answer to Top Mistakes Etoro….Questions that i speak with brand-new investors what if you’re brand new to investing you just don’t wish to choose what you really wish to invest and you want someone to do it for you there’s only a number of ways that that can take place the to start with you can work with a financial investment portfolio manager they’ll generally charge a quite a high premium to do that possibly one or two percent of your revenues will go to them the other thing is of course you can buy mutual funds particular funds are developed 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 quite advanced you can do cfds which naturally 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 simply presume due to the fact that i utilize 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 option too so you really get used to the structure of the website and then when you’re ready to use your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re purchasing real business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not just do something since that person has stated they have actually made earnings 14 months in a row buy these choices due to the fact that you think is the best ones for you and that being said 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 belongs to 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 don’t typically get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that means with our cash we can actually say i want to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they buy they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the fees involved really important you comprehend what are the costs of this now with any platform there will be some expense to certainly these are genuine business 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 cost sites then might not charge you for really buying and selling funds or etfs private commodities individual stocks.

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there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to show you the charges with in particular in this video the next would be things to know before you actually start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are thinking about this as a tool whether you start your journey or your more advanced investor so let’s kick off with fees really important to understand these now on there’s a couple of fees there isn’t charges to do with actually buying and selling fine so commission costs are complimentary nevertheless there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put cash in now if you remain 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 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 understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may state fine that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal costs are just among those options that they have a great deal of platforms certainly 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 when every 6 months you know depends entirely how you’re investing however that is a cost to remember the 2nd cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that suits me.

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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or perhaps some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you utilize anyone so if you’re utilizing trading two and 2 open market anybody this is standard they have i suppose stuck to whatever cost they charge for that conversion rate you sort of need to accept you know if you want to utilize their platform go from uk to us then that conversion cost exists what are they in fact 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 say provide me us dollars rather you have to pay their fees now the terrific thing about however when you’ve transformed your cash you do not need to invest it right away that dollar value can sit in your portfolio as money dollars for as long as you like so that suggests the initial day that you purchase or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s really excellent utilizing that part of their site will not definitely limit you in any way nevertheless we have to understand two other charges the very first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread charge as i’m going to reveal you

on is basically the difference that is part of the investment platform in between the buy cost and the sale 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 value 599 per share in tesla that actually indicates that when you want to purchase 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 existing rate of tesla is the worth of a share what’s called spread costs is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a small amount of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more expensive to buy than it is to sell so they’re going to give you less back with your sale and you state alright well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a distinction between if you’re buying it then you want to offer it and that is how they make a little bit of cash on those spread out fees it’s typically incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit cash now the last feat is called an

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over night charge now this is truly essential if you’re in fact using cfds yourself too an overnight cost is when you’re not doing that buy offer transaction in the exact same day fine there’s then an over night fee 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 actually buying out the etf the stock the product and using time one take advantage of which indicates you’re in fact buying the precise possession rather than using take advantage of anyway you will not get hit with these costs however these costs are if you’re utilizing take advantage of and cfds and after that you’re going to have these fees if you’re not buy offering in the same day so let’s say if you enter into the assistance area this isn’t the overnight fees info you can see exactly the breakdown and it’ll tell you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends and that only applies as i said to cfds there are some surcharges obviously depending upon what you are purchasing also this is on your own so keep that in mind however complete fees are entirely within their aid info all right and we spoke about in addition to totally free to deposit in however there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds regular commodity stock shares whatever there’s that 5 dollar withdrawal cost now another thing to call it as i’ve said copy trading and copy portfolios are two various methods of in fact using these copy works they don’t have any extra costs on top of the normal charges that

are there now what you need to bear in mind though is these possibly handled by other people entirely or often have developed portfolios you have actually got a real person doing the management you need to ensure you pick the individual that’s right for you just like any kind of work this is your monetary assets so we absolutely require to make sure it’s the best person for us prior to we copy them so the first things i would call it if you do want to utilize this function we have actually got a couple of various choices for us first of all if you’re brand new to investing i want to draw your attention to this within you have the choice to invest real 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 cash that you’re investing you won’t require to put in your credit card details or anything you can essentially have this virtual portfolio imitate as if you are utilizing your own money however in fact purchase pretend buy copy people whatever you like if you’re not

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feeling comfortable with using your genuine cash possibly this is a terrific alternative for you again to test the theories okay you may wish to purchase tesla or apple or this etf why not utilize the virtual choice as a method to kind of safe have fun with it certainly you might have missed out on gains and losses throughout that time naturally if you had invested your real money it allows you to develop self-confidence comprehend the platform so that’s one option for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to bear in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your threat profile is now what do i indicate by that certainly 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 indicates am i fine with possibly losing a great amount of this financial investment or gaining as

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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the figure 75 people will lose money however that equally means they’ll lose at some point in their journey clearly individuals do make money too and i have actually got videos all about how you can make sure you are among individuals to in fact earn money however in this situation make certain you research your risk level would you be alright offering your money to somebody else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re purchasing totally if you’re someone who isn’t wishing to be that dangerous don’t select someone who’s entirely into crypto or currency conversion think of it you ‘d most likely want a foundation of strong commodities

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like gold and even oil plus more traditional etfs and index funds you might 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 use this too actually quickly over here you can copy people now it will offer you a great deal of options and you can use the system to in fact search for someone that you fancy really following so let’s see maybe we desire someone from unified kingdom um who purchases let’s see who does etfs they’ve gotten a minimum of 10 yeah that sounds reasonable that sounds a great quantity and i can find everyone who has actually met that criteria and it does provide you a risk factor as well so it tends to be the higher 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’s like 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 chance to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you know ask you to verify are you okay 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 actually deep dive into what is she really buying so let’s enter into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to understand ibm paypal yep she’s certainly like type of into those blue box and the tech market she’s got some of mine in fact that i buy too which is good so really for me understanding what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech business that seems to be what she chooses she’s also got a bit more um of the type of main food companies and you’ve got you understand pharmaceutical and production business as that. Top Mistakes Etoro.

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