We get htis a lot on our site the answer to Etoro Available In Canada….Concerns that i hear from brand-new investors what if you’re brand new to investing you merely do not wish to choose what you in fact want to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the firstly you can work with a financial investment portfolio manager they’ll normally charge a rather a high premium to do that possibly a couple of percent of your revenues will go to them the other thing is obviously you can buy mutual funds particular 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 as well 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 methods of investing
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with not really having the total of capital so with anything that you’re finding out about please do study the platform don’t simply presume because i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they give that choice also so you actually get used to the structure of the site and then when you’re ready to utilize your own money 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 genuine companies if you select to in this particular video we’re discussing how to copy other people’s investments with your money so undoubtedly your capital is at threat and we have to bear that in mind do not simply do something because that person has stated they have actually made profit 14 months in a row buy these options because you believe is the ideal ones for you which being stated let’s dive straight in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one element that is most likely.
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popular for it’s the choice to see what other traders are doing amazing we do not normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that indicates with our cash we can actually state i wish to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means 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 also cover is the costs involved really critical you comprehend what are the costs of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the no cost websites 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 fees on other parts maybe it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 know prior to you really begin buying copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you start your journey or your advanced financier so let’s kick off with costs really crucial to understand these now on there’s a number of fees there isn’t costs to do with in fact buying and selling alright so commission fees are free however there are a couple of other fees the first one is withdrawal costs so you can undoubtedly put money in now if you remain in the uk we put our uk cash.
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and it’s immediately converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your cash so you sell your shares you sell your commodities whatever you’re offering the minimum quantity 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 ensure that i’m only withdrawing when i absolutely need to now you might say all right that’s quite pricey and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges are just among those options that they have a lot of platforms undoubtedly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mostly it can be perhaps even once a year once every six months you understand depends totally how you’re investing but that is a cost to remember the second cost that i have actually touched upon is that conversion cost now with you’re handling us dollars only there’s not an alternative to purchase in euros or uk which’s fine that fits me.
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a lot of my stocks are us dollar stocks anyway 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 use anybody so if you’re using trading 2 and two free trade anyone at all this is standard they have i suppose stuck with whatever charge 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 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 bargain with them you can’t go to the bank and say give me us dollars instead you need to pay their charges now the fantastic thing about however when you have actually converted your money you do not have to invest it right away that dollar worth can being 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 takes place now with copy trading and copy portfolios there aren’t any extra charges so that’s actually good utilizing that part of their site will not certainly limit you in any way however we have to know two other costs the very first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to show you
on is generally the distinction that becomes part of the investment platform in between the buy price and the list price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the website right now tesla’s dollar worth 599 per share in tesla that in fact indicates that when you want to buy or offer as you can see it’s not the cost you’re seeing up here let me reveal you that again so the existing price of tesla is the worth of a share what’s called spread fees is the difference then in fact to buy that share on the platform and you’ll find this all over this is another manner in which they make a percentage of benefit from you each time you do a purchaser’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to offer you less back with your sale and you state all right well why does that occur it just does that is the nature of a lot of platforms out there there’s a difference in between if you’re buying it then you want to sell 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 but that’s one place every investment firm will once again make a bit cash now the last task is called an
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over night charge now this is actually essential if you’re in fact using cfds yourself too an over night cost is when you’re not doing that buy offer deal in the same day okay there’s then an overnight cost charged or even if you go from the friday to the monday prior to cruising a weekend cost now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one leverage which suggests you’re actually buying the specific asset rather than utilizing take advantage of anyhow you will not get hit with these charges but these charges are if you’re using take advantage of and cfds and then you’re going to have these charges if you’re not buy selling in the exact same day so let’s state if you enter into the aid area this isn’t the over night charges details you can see precisely the breakdown and it’ll inform you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends and that only uses as i stated to cfds there are some surcharges obviously depending on what you are buying too this is on your own so keep that in mind however complete costs are completely within their aid info all right and we spoke about as well as totally free to deposit in but there’s a five 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 charge now another thing to call it as i’ve stated copy trading and copy portfolios are two various methods of actually using these copy works they do not have any extra fees on top of the normal fees that
are there now what you need to bear in mind though is these possibly managed by other individuals completely or in some cases have produced portfolios you’ve got a genuine person doing the management you have to make sure you select the person that’s right for you much like any type of work this is your monetary possessions so we absolutely require to make sure it’s the right individual 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 number of different alternatives for us first of all 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 ways i believe you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you will not require to put in your credit card information or anything you can essentially have this virtual portfolio simulate as if you are using your own money but in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with utilizing your real cash maybe this is a great option for you once again to check the theories alright you might want to purchase tesla or apple or this etf why not utilize the virtual option as a way to type of safe have fun with it obviously you might have missed out on gains and losses throughout that time obviously if you had actually invested your genuine money it allows you to develop confidence comprehend 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 before you pick somebody that you’re going to copy or a portfolio you’re going to copy make sure you comprehend what your risk profile is now what do i mean by that obviously for me i’m investing long term and they tend to say the longer you’re leaving your financial investments the riskier you can be risk just means am i all right with potentially losing an excellent quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will earn money you’ll lose money that’s why they make the statistic 75 individuals will lose money however that similarly means they’ll lose eventually in their journey undoubtedly individuals do earn money also and i have actually got videos all about how you can make sure you are among the people to actually make money but in this situation make certain you research study your danger level would you be all right giving your money to another person which is successfully what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re someone who isn’t wishing to be that dangerous do not select someone who’s totally into crypto or currency conversion think about it you ‘d probably want a backbone of strong products
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like gold or even oil plus more traditional etfs and index funds you might 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 really use this too really quickly over here you can copy people now it will give you a lot of choices and you can utilize the system to in fact search for someone that you fancy really following so let’s see perhaps we want somebody from united kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent amount and i can discover everybody who has actually satisfied that requirements and it does provide you a threat element as well 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
remember it resembles anything to do with the news or forecasts 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 know ask you to validate are you fine with this and off you go now another way to really deep dive if we click this person for example ruby mza as an example you can in fact 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 good to understand ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got a few of mine really that i buy too which is excellent so really for me understanding what i like to buy my specific 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 also got a bit more um of the sort of primary food business and you’ve got you understand pharmaceutical and production companies as that. Etoro Available In Canada.
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