On this post you’ll find the answer to Trading 212 App Canada….Questions that i speak with new financiers what if you’re brand new to investing you simply do not wish to decide what you in fact want to invest and you want someone to do it for you there’s just a couple of ways that that can take place the to start with you can hire an investment portfolio supervisor they’ll generally charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is of course you can purchase mutual funds particular funds are created 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 also now if you’re brand new to an overall please remember this platform is rather innovative you can do cfds which naturally cfds are methods of investing
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with not really having the full amount of capital so with anything that you’re learning more about please do study the platform do not simply assume since i use it that you can use it immediately do some due diligence have a little play around with it even invest with virtual cash they consider that choice too so you in fact get utilized 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 obviously your capital is at risk this is investing we’re doing you’re buying real business if you select to in this specific video we’re speaking about how to copy other individuals’s financial investments with your money so certainly your capital is at danger and we have to bear that in mind do not simply do something since that person has stated they’ve made profit 14 months in a row invest in these choices since you think is the ideal ones for you and that being stated let’s dive straight in [Music] so the important things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it becomes part of 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 normally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading therefore that means with our cash we can actually say i wish to do exactly what that trader is doing or match that precise portfolio of options and basically every time they make a trade they buy they offer whatever they do your cash will be mimicked with it so that means 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 important you comprehend what are the costs of this now with any platform there will be some expense to obviously these are genuine companies that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the no charge websites then may not charge you for actually buying and selling funds or etfs private commodities private 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 type of costs 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 understand prior to you really begin investing in copy trading or copy portfolios and lastly some finest suggestions 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 actually important to understand these now on there’s a couple of charges there isn’t costs to do with actually buying and selling fine so commission fees are totally free nevertheless there are a number of other charges the first one is withdrawal charges 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 instantly 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 five dollars per withdrawal so for me obviously understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you might state fine that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal fees are simply among those alternatives that they have a lot of platforms clearly are totally free 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 once every six months you understand depends completely how you’re investing however that is a charge to bear in mind the second cost that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not an option to buy in euros or uk and that’s great that fits me.
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a great deal of my stocks are us dollar stocks anyway 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 cost now when you utilize anybody so if you’re using trading two and two open market anybody this is basic they have i suppose stuck with whatever fee they charge for that conversion rate you type of need to accept you understand if you want to use their platform go from uk to us then that conversion fee is there what are they actually giving 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 state give me us dollars instead you have to pay their costs now the terrific thing about though when you have actually converted your money you do not need to invest it right away that dollar worth can being in your portfolio as cash dollars for as long as you like so that suggests the initial day that you purchase or transform your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional charges so that’s actually great using that part of their website won’t certainly limit you in any way nevertheless we need to understand 2 other charges the very first being what’s called spread costs all right and i’m going to reveal you what i mean on now a spread cost as i’m going to show you
on is generally the distinction that belongs to the financial investment platform in between the buy rate and the price alright 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 in fact implies that when you wish to sell or buy as you can see it’s not the price you’re seeing up here let me reveal you that again so the present cost of tesla is the worth of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll find this everywhere this is another way that they make a small amount of make money from you each time you do a purchaser’s share so keep that in mind undoubtedly it’s more pricey to purchase than it is to offer so they’re going to give you less back with your sale and you say all right well why does that happen it just does that is the nature of a lot of platforms out there there’s a distinction between if you’re buying it then you wish to offer it which is how they make a bit of money on those spread costs it’s normally exceptionally little it could be a matter of pens matter of cents in there however that’s one location every investment company 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 truly crucial if you’re in fact using cfds yourself as well an overnight cost is when you’re not doing that buy offer deal in the exact same day all right there’s then an over night charge charged and even if you go from the friday to the monday prior to sailing a weekend charge now this only applies to cfds so if you’re in fact buying out the etf the stock the commodity and using time one take advantage of which implies you’re in fact purchasing the precise asset instead of utilizing take advantage of anyhow you will not get hit with these costs however these charges are if you’re using take advantage of and cfds and after that you’re going to have these charges if you’re not buy offering in the very same day so let’s say if you go into the help area this isn’t the over night costs details you can see exactly the breakdown and it’ll tell you what are the charges what are the fees then for when you’re doing over night or you’re doing over weekends which just applies as i stated to cfds there are some service charges of course depending on 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 details fine and we spoke about in addition to totally free to deposit in but there’s a 5 dollar charge if you want to withdraw from anything whether it’s been cfds regular commodity stock shares everything there’s that five dollar withdrawal charge now another thing to call it as i have actually stated copy trading and copy portfolios are two different methods of actually utilizing these copy works they do not have any extra costs on top of the typical fees that
are there now what you require to remember though is these potentially managed by other individuals totally or often have actually developed portfolios you’ve got a real individual doing the management you need to make certain you select the person that’s right for you much like any line of work this is your financial assets so we absolutely require to make certain it’s the ideal individual for us prior to 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 alternatives 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 money or a virtual platform virtual methods i believe you get yep a hundred thousand dollars to have fun with and it’s not real money that you’re investing you won’t need to put in your charge card details or anything you can basically have this virtual portfolio mimic as if you are utilizing your own cash however actually purchase pretend buy copy individuals whatever you like if you’re not
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feeling comfortable with using your real money maybe this is an excellent option for you again to test the theories alright you might want to buy tesla or apple or this etf why not use the virtual choice as a method to type of safe have fun with it certainly you might have lost out on gains and losses throughout that time of course if you had invested your genuine money it permits you to develop self-confidence understand 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 in fact how to copy people and copy portfolios now here’s something to keep in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you understand 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 simply suggests am i okay with possibly losing an excellent amount of this financial investment or gaining 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 figure 75 individuals will lose money however that similarly implies they’ll lose at some point in their journey undoubtedly people do earn money also and i’ve got videos all about how you can make sure you’re one of individuals to actually make money but in this scenario ensure you research your threat level would you be alright giving your money to somebody else which is efficiently what you’re doing and trusting them make certain you comprehend what they’re buying totally if you’re somebody who isn’t wanting to be that dangerous don’t select someone who’s completely into crypto or currency conversion consider it you ‘d probably desire a foundation of strong commodities
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like gold or even oil plus more standard etfs and index funds you may not want 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 truly quickly over here you can copy individuals now it will offer you a lot of options and you can utilize the system to really search for somebody that you elegant in fact following so let’s see perhaps we want somebody from joined kingdom um who buys let’s see who does etfs they’ve acquired a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually satisfied that requirements and it does provide you a threat factor 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 quite high returns
bear in mind it resembles anything to do with the news or forecasts of the future this does not imply someone will make 56 for you for the next 12 months they could make four or minus 50 there’s no way to ensure 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 validate are you fine with this and off you go now another way 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 in fact 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 sort of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is good so in fact for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a good spread in tech business that seems to be what she prefers she’s likewise got a little bit more um of the kind of primary food business and you’ve got you know pharmaceutical and production companies as that. Trading 212 App Canada.