We get htis a lot on our site the answer to Canadian Resident Etoro….Questions that i speak with brand-new financiers what if you’re brand new to investing you just don’t want to decide what you in fact wish to invest and you desire somebody to do it for you there’s just a number of manner ins which that can happen the firstly you can employ a financial investment portfolio manager they’ll normally charge a quite a high premium to do that perhaps one or two percent of your revenues will go to them the other thing is obviously you can purchase 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 a total please keep in mind 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 about please do study the platform do not simply presume since i utilize it that you can utilize it right away do some due diligence have a little play around with it even invest with virtual money they consider that alternative also so you really get used to the structure of the website and then 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 danger this is investing we’re doing you’re purchasing genuine companies if you choose to in this particular video we’re talking about how to copy other individuals’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 since that person has stated they have actually made profit 14 months in a row invest in these options due to the fact that you believe is the best 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 understanding what is copy trading what are copy portfolios it belongs to social trading which is one element 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 generally 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 state i want to do exactly what that trader is doing or match that precise portfolio of choices and basically each 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 charges included actually vital you understand what are the expenses of this now with any platform there will be some expense to undoubtedly these are real companies that are investing they’re doing the purchasing the selling for you there’s going to be charges included and even a few of the zero fee websites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
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there’ll be fees on other parts maybe 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 reveal you the costs with in particular in this video the next would be things to understand prior to you actually begin investing in copy trading or copy portfolios and finally some finest recommendations best practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with fees actually essential to understand these now on there’s a couple of costs there isn’t charges to do with really buying and selling fine so commission costs are totally free nevertheless there are a couple of other fees the first one is withdrawal fees 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 in the future however when you want to withdraw your money so you offer your shares you sell your products 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 obviously understanding that i’m going to ensure that i’m just withdrawing when i definitely require to now you may say okay that’s rather costly and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those alternatives that they have a lot of platforms obviously are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion fee 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 anyhow 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 charge now when you utilize anybody so if you’re using trading 2 and 2 free trade anyone at all this is standard they have actually i suppose stuck with whatever fee they charge for that conversion rate you type of have 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 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 provide me us dollars instead you have to pay their fees now the excellent thing about however when you have actually converted your money you do not have to invest it right now that dollar value can being in your portfolio as cash dollars for as long as you like so that implies the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s actually good utilizing that part of their website will not certainly restrict you in any way nevertheless we need to know 2 other charges the first being what’s called spread charges 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 basically the difference that is part of the financial investment platform in between the buy cost and the list price fine 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 actually suggests that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the value of a share what’s called spread charges is the distinction then in fact to purchase that share on the platform and you’ll find this everywhere this is another way that they make a small amount of benefit from you every time you do a buyer’s share so keep that in mind clearly it’s more pricey to buy than it is to sell so they’re going to offer you less back with your sale and you state alright well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you wish to offer it and that is how they make a little bit of cash on those spread fees it’s generally incredibly little it could be a matter of pens matter of cents in there however that’s one place every investment firm will once again make a bit cash now the last accomplishment is called an
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overnight fee now this is really essential if you’re in fact using cfds yourself too an overnight fee is when you’re not doing that buy sell deal in the exact same day fine there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re really buying out the etf the stock the product and utilizing time one utilize which indicates you’re actually buying the specific possession rather than using take advantage of anyway you won’t get hit with these fees but these costs are if you’re utilizing 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 enter into the aid section this isn’t the over night fees information you can see exactly the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just uses as i said to cfds there are some additional charges naturally depending upon what you are purchasing as well this is on your own so keep that in mind however full charges are completely within their aid information okay and we spoke about along with totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds regular product stock shares whatever there’s that five dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different ways of really utilizing these copy works they don’t have any additional charges on top of the normal costs that
exist now what you require to remember though is these potentially handled by other individuals completely or often have developed portfolios you’ve got a real individual doing the management you need to make sure you pick the individual that’s right for you just like any kind of work this is your financial possessions so we definitely require to make certain it’s the best individual for us before we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of various 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 won’t need to put in your charge card information or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money however actually buy pretend buy copy people whatever you like if you’re not
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feeling comfy with utilizing your genuine money possibly this is a great option for you again to evaluate the theories alright you might want to purchase tesla or apple or this etf why not use the virtual alternative as a method to sort of safe play with it certainly you may have lost out on gains and losses during that time of course if you had invested your genuine cash it allows you to build self-confidence understand the platform so that’s one alternative for you then next week and i’m going to return to my genuine portfolio here now we’re going to deep dive really how to copy individuals 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 ensure you understand what your threat profile is now what do i imply by that obviously 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 simply indicates am i all right with possibly losing a good quantity of this investment or getting 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 fact 75 individuals will lose cash however that similarly means they’ll lose at some point in their journey obviously people do generate income too and i have actually got videos everything about how you can ensure you are among individuals to really earn money but in this scenario ensure you research your danger level would you be all right giving your money to someone else which is effectively what you’re doing and trusting them make sure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous don’t choose somebody who’s entirely into crypto or currency conversion consider it you ‘d probably desire a backbone of strong commodities
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like gold or even oil plus more traditional 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 say you can in fact use this too actually quickly over here you can copy individuals now it will give you a lot of choices and you can utilize the system to really search for somebody that you fancy really following so let’s see maybe we want somebody from joined kingdom um who invests in let’s see who does etfs they have actually gained at least 10 yeah that sounds fair that sounds an excellent amount and i can find everybody who has fulfilled that requirements 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 obviously there are a variety of individuals that have quite 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 could make four or minus 50 there’s no chance to guarantee so do keep that in mind and as simple as clicking the copy button and off you go and after that you understand ask you to validate are you alright with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can in fact deep dive into what is she in fact purchasing so let’s enter 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 market she’s got a few of mine in fact that i invest in too which is great so really 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 companies that seems to be what she prefers she’s likewise got a bit more um of the kind of main food business and you’ve got you know pharmaceutical and production business as that. Canadian Resident Etoro.
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