We get htis a lot on our site the answer to Etoro Not Available In Canada….Questions that i speak with new investors what if you’re brand new to investing you simply don’t want to decide what you actually wish to invest and you desire someone to do it for you there’s just a number of manner ins which that can take place the first of all you can work with an investment portfolio manager they’ll normally charge a quite a high premium to do that maybe a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds particular funds are produced again with an account supervisor 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 remember this platform is quite advanced you can do cfds which obviously cfds are ways of investing
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with not really having the total of capital so with anything that you’re learning more about please do study the platform do not simply assume because i use it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get used to the structure of the website and after that when you’re ready to utilize your own money to invest you can do so now i will disclaim of course your capital is at risk this is investing we’re doing you’re purchasing real business if you choose to in this particular video we’re speaking about how to copy other individuals’s financial investments with your cash so certainly your capital is at threat and we have to bear that in mind do not simply do something since that person has stated they have actually made earnings 14 months in a row buy these options since you think is the right 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 element that is most likely.
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well-known for it’s the alternative to see what other traders are doing extraordinary we do not typically get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our money we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically every time they make a trade they purchase they offer whatever they do your money 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 also cover is the fees included actually vital you understand what are the expenses of this now with any platform there will be some expense to clearly 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 fee websites then may not charge you for in fact buying and selling funds or etfs specific products specific stocks.
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there’ll be fees on other parts perhaps 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 charges with in particular in this video the next would be things to understand prior to you really begin purchasing copy trading or copy portfolios and finally some best recommendations best practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s start with costs really crucial to comprehend these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling okay so commission costs are complimentary however there are a number of other fees 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 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 offer your shares you offer your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally understanding that i’m going to ensure that i’m just 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 have to charge costs someplace and withdrawal costs are simply one of those options that they have a great deal of platforms certainly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every 6 months you understand depends totally how you’re investing but that is a charge to keep in mind the 2nd fee that i’ve touched upon is that conversion charge now with you’re handling us dollars just there’s not an alternative to purchase in euros or uk and that’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying 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 using trading 2 and two free trade anyone at all this is basic they have i expect stuck to whatever charge they charge for that conversion rate you type of need to accept you know if you want to use their platform go from uk to us then that conversion cost exists what are they in fact giving you in regards to 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 state give me us dollars rather you need to pay their fees now the terrific thing about however when you’ve converted your money 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 costs so that’s truly excellent using that part of their website won’t certainly restrict you in any way nevertheless we need to understand two other costs the first being what’s called spread charges alright and i’m going to show you what i suggest on now a spread charge as i’m going to show you
on is basically the distinction that is part of the financial investment platform in between the buy cost and the sale price fine it’s their premium on doing both those 2 actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that in fact implies that when you want to buy or sell as you can see it’s not the price you’re seeing up here let me show you that again so the existing cost of tesla is the value of a share what’s called spread costs is the difference then in fact to buy that share on the platform and you’ll discover this all over this is another way that they make a percentage of profit from you every time you do a purchaser’s share so keep that in mind clearly it’s more pricey to purchase than it is to sell so they’re going to provide you less back with your sale and you say fine well why does that happen it simply 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 offer it which is how they make a bit of cash on those spread out charges it’s typically extremely small it could be a matter of pens matter of cents in there however 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 fee now this is truly essential if you’re in fact using cfds yourself also an over night charge is when you’re refraining from doing that buy sell transaction in the same day alright there’s then an overnight charge charged and even if you go from the friday to the monday prior to sailing a weekend fee now this just applies to cfds so if you’re in fact buying out the etf the stock the commodity and utilizing time one utilize which indicates you’re in fact purchasing the specific property rather than utilizing leverage anyway you won’t get hit with these fees but these costs are if you’re utilizing take advantage of 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 enter into the help area this isn’t the overnight costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the costs then for when you’re doing overnight or you’re doing over weekends which just uses as i stated to cfds there are some additional charges of course depending upon what you are investing in as well this is on your own so keep that in mind but complete fees are totally within their assistance information alright and we spoke about along with free to deposit in however there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds typical 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 2 different ways of actually using these copy works they do not have any extra charges on top of the typical costs that
exist now what you need to keep in mind though is these possibly managed by other individuals totally or often have actually produced portfolios you’ve got a real individual doing the management you need to ensure you select the person that’s right for you similar to any profession this is your monetary assets so we absolutely need to make sure it’s the best individual 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 different alternatives 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 genuine cash or a virtual platform virtual methods i think you get yep a hundred thousand dollars to have fun with and it’s not real cash that you’re investing you will not require to put in your credit card details or anything you can basically have this virtual portfolio simulate as if you are using your own money however 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 great choice for you once again to test the theories alright you may wish to purchase tesla or apple or this etf why not utilize the virtual option as a method to sort of safe have fun with it undoubtedly you might have missed out on gains and losses throughout that time naturally if you had actually invested your real money it permits you to build confidence comprehend the platform so that’s one alternative for you then next week and i’m going to go back to my real portfolio here now we’re going to deep dive really how to copy people and copy portfolios now here’s something to keep in mind prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you comprehend what your danger profile is now what do i imply by that certainly 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 indicates am i all right with potentially losing an excellent amount of this financial investment or gaining as
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well now keep in mind everything is ups and downs you will generate income you’ll lose cash that’s why they make the statistic 75 people will lose cash however that similarly suggests they’ll lose at some time in their journey clearly individuals do make money as well and i have actually got videos all about how you can make sure you’re one of the people to in fact earn money but in this situation ensure you research your danger level would you be all right offering your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying totally if you’re somebody who isn’t wanting to be that risky don’t pick somebody who’s completely into crypto or currency conversion think of it you ‘d most likely want a backbone of strong products
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like gold and even oil plus more conventional etfs and index funds you may 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 utilize this too truly easily over here you can copy people now it will offer you a great deal of choices and you can use the system to actually search for someone that you elegant really following so let’s see perhaps we desire somebody from joined kingdom um who invests in let’s see who does etfs they have actually acquired at least 10 yeah that sounds fair that sounds a great quantity and i can discover everybody who has met that requirements and it does offer you a risk factor too so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a number of individuals that have quite high returns
bear in mind it resembles anything to do with the news or predictions of the future this does not suggest somebody will make 56 for you for the next 12 months they might make four 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 know ask you to confirm are you all right with this and off you go now another method to really deep dive if we click 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 quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s good to know ibm paypal yep she’s absolutely like kind of into those blue box and the tech industry she’s got some of mine really that i invest in too which is excellent so really for me understanding what i like to invest in 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 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. Etoro Not Available In Canada.
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