On this post you’ll find the answer to Etoro Canada….Questions that i hear from new investors what if you’re brand new to investing you simply do not want to choose what you really wish to invest and you want someone to do it for you there’s only a couple of ways that that can occur 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 maybe one or two percent of your revenues will go to them the other thing is of course you can purchase 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 as well now if you’re brand new to an overall please bear in mind this platform is rather innovative you can do cfds which naturally cfds are ways 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 do not simply assume due to the fact that i use it that you can utilize it right now do some due diligence have a little play around with it even invest with virtual money they give that option as well so you in fact get used 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 investing in genuine companies if you choose to in this specific video we’re speaking about how to copy other people’s investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something since that person has actually stated they have actually made revenue 14 months in a row invest in these choices because you think is the ideal 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 option to see what other traders are doing amazing we don’t typically get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact state i wish to do exactly what that trader is doing or match that exact portfolio of choices and essentially every time they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates 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 likewise cover is the charges included truly vital you comprehend what are the expenses of this now with any platform there will be some expense to clearly these are genuine companies 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 charge websites then may not charge you for really buying and selling funds or etfs specific 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 kinds of charges associated so do your due diligence and i’m going to reveal you the fees with in particular in this video the next would be things to understand prior to you in fact start investing in copy trading or copy portfolios and lastly some best guidance best practices if you are considering this as a tool whether you start your journey or your more advanced financier so let’s begin with fees really crucial to comprehend these now on there’s a number of fees there isn’t fees to do with actually buying and selling fine so commission fees are totally free nevertheless there are a couple of other charges the first one is withdrawal fees so you can undoubtedly put money in now if you’re 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 offer 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 five dollars per withdrawal so for me naturally understanding that i’m going to make sure that i’m just withdrawing when i definitely require to now you may say fine that’s rather costly and i get that but it’s all to do with how they run their platform they need to charge costs somewhere and withdrawal fees are simply among those options that they have a lot of platforms certainly are complimentary to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year as soon as every six months you understand depends completely how you’re investing but that is a cost to remember the 2nd charge that i’ve discussed is that conversion cost now with you’re dealing in us dollars just there’s not an alternative to buy in euros or uk which’s great that matches me.
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a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great 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 two open market anybody this is basic they have i suppose stuck to whatever cost they charge for that conversion rate you kind of need to accept you know if you want to use their platform go from uk to us then that conversion fee exists what are they actually providing 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 instead you need to pay their charges now the excellent thing about though when you have actually converted your money you do not have to invest it right away that dollar worth can sit in your portfolio as cash dollars for as long as you like so that implies 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 fees so that’s truly excellent using that part of their website won’t definitely restrict you in any way nevertheless we have to know 2 other costs the first being what’s called spread charges okay and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is essentially the distinction that becomes part of the financial investment platform between the buy rate and the list price okay 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 worth 599 per share in tesla that actually 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 present cost of tesla is the value of a share what’s called spread costs is the difference then in fact to purchase that share on the platform and you’ll find this all over this is another manner in which they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind obviously it’s more costly to purchase than it is to sell so they’re going to offer you less back with your sale and you state okay well why does that occur it simply does that is the nature of a great deal of platforms out there there’s a difference 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 costs it’s normally extremely little it could be a matter of pens matter of cents in there but that’s one location every investment firm will once again make a little bit cash now the last feat is called an
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over night charge now this is really crucial if you’re in fact utilizing cfds yourself also an overnight fee is when you’re not doing that buy sell transaction in the very same day okay there’s then an over night cost charged or perhaps if you go from the friday to the monday prior to cruising a weekend fee now this only applies to cfds so if you’re really buying out the etf the stock the product and using time one take advantage of which indicates you’re really buying the specific possession instead of using take advantage of anyhow you will not get hit with these fees however these fees are if you’re using leverage and cfds and then you’re going to have these charges if you’re not buy selling in the same day so let’s say if you enter into the aid section this isn’t the overnight charges details 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 and that only uses as i said to cfds there are some added fees obviously depending upon what you are investing in too this is on your own so keep that in mind however full charges are totally within their aid details okay and we spoke about along with free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds typical product stock shares whatever there’s that 5 dollar withdrawal charge 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 operates they do not have any additional fees on top of the regular charges that
exist now what you need to remember though is these potentially handled by other people totally or often have actually developed portfolios you have actually got a genuine person doing the management you need to make sure you choose the individual that’s right for you similar to any type of work this is your financial possessions so we absolutely require to ensure it’s the right individual for us before we copy them so the first things i would call it if you do wish to use 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 alternative 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 charge card information or anything you can essentially have this virtual portfolio imitate as if you are using your own money however in fact buy pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your genuine money maybe this is an excellent alternative for you once again to test the theories all right you might 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 obviously you may have lost out on gains and losses throughout that time of course if you had invested your genuine cash it allows you to construct confidence understand the platform so that’s one alternative 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 remember prior to you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your threat profile is now what do i suggest 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 potentially losing a great quantity of this investment or getting as
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well now remember everything is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money however that similarly indicates they’ll lose eventually in their journey undoubtedly people do generate income also and i’ve got videos all about how you can ensure you are among the people to really generate income however in this situation ensure you research your risk level would you be okay providing your money to somebody else which is efficiently what you’re doing and trusting them make certain you understand what they’re purchasing fully if you’re someone who isn’t wishing to be that risky don’t choose someone who’s completely into crypto or currency conversion consider it you ‘d most likely desire a foundation of strong products
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like gold and even oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the same with who you’re following now as i state you can in fact utilize this too really quickly over here you can copy individuals now it will provide you a great deal of choices and you can use the system to in fact look for somebody that you elegant in fact following so let’s see possibly we want someone from unified kingdom um who invests in let’s see who does etfs they have actually acquired a minimum of 10 yeah that sounds fair that sounds a good amount and i can find everybody who has actually met that criteria and it does provide you a risk element as well 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 people that have quite high returns
keep in mind it’s like 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 could make 4 or minus 50 there’s no chance to ensure 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 confirm are you alright with this and off you go now another method to in fact 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 go into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to understand ibm paypal yep she’s definitely like sort of into those blue box and the tech market she’s got a few of mine really that i purchase too which is great so in fact for me knowing what i like to purchase my specific stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she prefers she’s likewise got a bit more um of the kind of primary food business and you’ve got you understand pharmaceutical and production business as that. Etoro Canada.
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