We get htis a lot on our site the answer to Etoro Legal In Canada….Concerns that i speak with new investors what if you’re brand new to investing you merely don’t want to decide what you in fact want to invest and you desire someone to do it for you there’s only a number of ways that that can occur the first of all you can work with a financial investment portfolio manager they’ll typically 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 particular funds are produced 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 too now if you’re brand new to a total please remember this platform is rather sophisticated you can do cfds which naturally cfds are methods of investing
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with not really having the total of capital so with anything that you’re learning about please do study the platform do not just presume since i use it that you can use it right now do some due diligence have a little play around with it even invest with virtual cash they consider that alternative too so you really get utilized 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 threat this is investing we’re doing you’re investing in genuine companies if you choose to in this specific video we’re talking about how to copy other people’s financial investments with your cash so obviously your capital is at danger and we need to bear that in mind do not just do something because that person has stated they’ve made revenue 14 months in a row invest in these options since you believe is the ideal 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 belongs to social trading which is one aspect that is most likely.
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famous for it’s the alternative to see what other traders are doing unbelievable we do not generally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact say i want to do precisely what that trader is doing or match that specific portfolio of choices and essentially whenever they make a trade they purchase they sell whatever they do your cash will be mimicked with it so that suggests if for example 10 of their investment portfolio remains in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the charges involved truly crucial you comprehend what are the costs of this now with any platform there will be some cost to obviously 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 may not charge you for in fact buying and selling funds or etfs individual commodities specific stocks.
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there’ll be charges on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all kinds of costs associated so do your due diligence and i’m going to reveal you the costs with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and lastly some finest guidance best practices if you are thinking of this as a tool whether you begin your journey or your advanced investor so let’s kick off with charges really crucial to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission fees are free however there are a couple of other charges the very first one is withdrawal charges so you can clearly put cash in now if you remain in the uk we put our uk money.
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and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you want to withdraw your cash so you sell your shares you sell 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 of course understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you might say fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge costs someplace and withdrawal charges are just one of those choices that they have a lot of platforms undoubtedly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year when every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd charge that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s fine that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing or perhaps some crypto so i’m good with that we have what’s called the fx currency conversion fee now when you use anybody so if you’re using trading two and two free trade anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you sort of have to accept you understand if you want to use their platform go from uk to us then that conversion cost is there what are they actually offering 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 provide me us dollars rather you have to pay their costs now the terrific feature of however when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as money dollars for as long as you like so that indicates the initial day that you purchase or transform your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra charges so that’s really great utilizing that part of their website won’t definitely limit you in any way nevertheless we need to understand two other fees the very first being what’s called spread charges fine and i’m going to show you what i indicate on now a spread charge as i’m going to show you
on is essentially the difference that is part of the financial investment platform in between the buy price and the sale price all right it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site today tesla’s dollar value 599 per share in tesla that in fact means that when you wish to purchase or offer as you can see it’s not the rate you’re seeing up here let me reveal you that once again so the current cost of tesla is the value of a share what’s called spread charges is the distinction then really to purchase 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 whenever you do a purchaser’s share so keep that in mind undoubtedly it’s more expensive to purchase than it is to offer so they’re going to give 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 wish to offer it which is how they make a little bit of money on those spread out costs it’s typically incredibly little it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit cash now the last accomplishment is called an
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over night charge now this is truly important if you’re in fact utilizing cfds yourself too an overnight cost is when you’re not doing that buy sell transaction in the exact same day all right there’s then an overnight charge 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 actually buying out the etf the stock the product and utilizing time one take advantage of which suggests you’re actually buying the precise asset rather than utilizing take advantage of anyhow you will not get hit with these fees however these costs are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy selling in the very same day so let’s state if you go into the assistance section this isn’t the overnight charges info you can see precisely 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 which only uses as i stated to cfds there are some surcharges naturally depending on what you are buying as well this is on your own so keep that in mind however full charges are totally within their assistance details all right and we talked about in addition to 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 product stock shares whatever there’s that five dollar withdrawal fee now another thing to call it as i have actually said copy trading and copy portfolios are two various ways of really using these copy functions they do not have any extra charges on top of the typical fees that
exist now what you need to bear in mind though is these potentially managed by other people totally or in some cases have actually created portfolios you’ve got a genuine individual doing the management you have to make sure you select the individual that’s right for you just like any profession this is your monetary assets so we definitely need to ensure it’s the best 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’ve got a couple 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 money 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 won’t require to put in your charge card details or anything you can basically have this virtual portfolio simulate as if you are using your own cash but actually 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 fantastic alternative for you once again to evaluate the theories all right you may want to buy tesla or apple or this etf why not use the virtual option as a method to kind of safe play with it clearly you might have lost out on gains and losses throughout that time naturally if you had invested your genuine cash it enables you to build confidence comprehend the platform so that’s one option 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 bear in mind before you choose somebody that you’re going to copy or a portfolio you’re going to copy make sure you understand what your risk profile is now what do i indicate by that clearly 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 simply indicates am i all right with potentially losing a good amount of this financial investment or acquiring as
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well now remember whatever is ups and downs you will earn money you’ll lose money that’s why they make the figure 75 people will lose money however that similarly indicates they’ll lose at some point in their journey clearly people do earn money too and i’ve got videos all about how you can make certain you’re one of individuals to actually earn money but in this circumstance make certain you research your danger level would you be okay providing your money to somebody else which is successfully what you’re doing and trusting them make certain you comprehend what they’re purchasing totally if you’re somebody who isn’t wanting to be that risky do not select someone who’s totally into crypto or currency conversion think of it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more standard etfs and index funds you may not desire some up-and-coming single stocks in your portfolio do the very same with who you’re following now as i state you can actually utilize this too really quickly over here you can copy people now it will give you a great deal of options and you can use the system to really search for somebody that you elegant actually following so let’s see maybe we desire somebody from united kingdom um who invests in let’s see who does etfs they have actually gotten a minimum of 10 yeah that sounds fair that sounds a great amount and i can discover everyone who has actually met that criteria and it does provide you a threat aspect too so it tends to be the higher the number the more riskier they are with their stock investing now undoubtedly there are a number of individuals that have rather high returns
remember it resembles 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 way to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and then you understand ask you to confirm are you okay with this and off you go now another way to in fact deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she in fact 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 know ibm paypal yep she’s absolutely like sort of into those blue box and the tech industry she’s got some of mine really that i invest in too which is good so actually for me knowing what i like to buy my specific stocks and shares she would resonate with me she’s got an excellent spread in tech companies 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. Etoro Legal In Canada.
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