We get htis a lot on our site the answer to 212 Trading In Canada….Concerns that i hear from brand-new financiers what if you’re brand new to investing you just do not wish to decide what you actually want to invest and you want somebody to do it for you there’s only a number of manner ins which that can happen the firstly you can hire a financial investment portfolio supervisor they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is obviously you can buy mutual funds specific funds are developed once 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 a total please keep in mind this platform is quite sophisticated 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 don’t just 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 give that alternative as well so you actually get used to the structure of the site and then when you’re ready to use your own money to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing genuine business if you pick to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at risk and we need to bear that in mind do not simply do something because that individual has stated they have actually made revenue 14 months in a row purchase these choices since you believe is the right ones for you which being stated let’s dive directly in [Music] The things we’re going to cover in this video is comprehending 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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popular for it’s the alternative to see what other traders are doing amazing we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our money we can in fact say i wish to do exactly what that trader is doing or match that precise portfolio of options and essentially whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved actually crucial you understand what are the costs of this now with any platform there will be some cost to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the no fee sites then might not charge you for actually buying and selling funds or etfs specific commodities specific stocks.
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there’ll be charges on other parts possibly 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 understand prior to you really start purchasing copy trading or copy portfolios and finally some best advice finest practices if you are considering this as a tool whether you begin your journey or your more advanced investor so let’s kick off with fees really crucial to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling fine so commission costs are totally free however there are a couple of other charges the very first one is withdrawal charges so you can clearly put money 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 later on but when you wish to withdraw your money so you sell your shares you sell 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 obviously knowing that i’m going to make sure that i’m just withdrawing when i definitely require to now you might state all right that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply among those alternatives that they have a great deal 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 perhaps even once a year once every 6 months you know depends entirely how you’re investing but that is a fee to remember the 2nd cost that i have actually discussed is that conversion cost now with you’re dealing in us dollars just there’s not an option to purchase in euros or uk which’s great that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m purchasing and even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anyone so if you’re using trading 2 and two open market anybody this is basic they have i expect stuck with whatever fee they charge for that conversion rate you kind of need to accept you understand if you wish to use their platform go from uk to us then that conversion fee is there what are they actually giving you in terms of 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 say offer me us dollars rather you have to pay their fees now the excellent thing about though when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as money dollars for as long as you like so that means the preliminary day that you purchase or convert your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any extra charges so that’s truly good utilizing that part of their website will not certainly limit you in any way however we need to know two other charges the first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to show you
on is basically the difference that becomes part of the financial investment platform between the buy cost and the sale price fine it’s their premium on doing both those two actions now tesla if you can see on this part of the website today tesla’s dollar value 599 per share in tesla that actually suggests that when you want to purchase or offer as you can see it’s not the price you’re seeing up here let me show you that again so the existing rate of tesla is the worth of a share what’s called spread fees is the distinction then really to purchase that share on the platform and you’ll find this everywhere this is another manner in which they make a percentage of profit from you each time you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to offer so they’re going to offer you less back with your sale and you say alright well why does that occur it just does that is the nature of a lot of platforms out there there’s a distinction in between if you’re buying it then you wish to offer it which is how they make a little bit of cash on those spread out charges it’s generally extremely little it could be a matter of pens matter of cents in there however that’s one location every investment firm will again make a little bit cash now the last feat is called an
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over night cost now this is truly important if you’re in fact utilizing cfds yourself also an overnight charge is when you’re not doing that buy sell transaction in the same day alright there’s then an over night cost charged or even if you go from the friday to the monday prior to cruising a weekend cost now this only applies to cfds so if you’re actually buying out the etf the stock the commodity and using time one leverage which means you’re actually buying the specific asset instead of using take advantage of anyhow you won’t get hit with these charges but these costs are if you’re utilizing utilize and cfds and then you’re going to have these costs if you’re not buy selling in the same day so let’s state if you go into the help section this isn’t the over night fees information you can see precisely 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 and that just uses as i stated to cfds there are some additional charges naturally depending on what you are investing in too this is on your own so keep that in mind but complete fees are completely within their aid info fine and we talked about along with totally free to deposit in but there’s a 5 dollar charge if you wish to withdraw from anything whether it’s been cfds typical commodity stock shares everything there’s that 5 dollar withdrawal fee now another thing to call it as i have actually stated copy trading and copy portfolios are two various ways of actually utilizing these copy operates they do not have any additional fees on top of the regular costs that
are there now what you require to bear in mind though is these potentially handled by other individuals entirely or in some cases have developed portfolios you’ve got a genuine individual doing the management you have to make sure you choose the individual that’s right for you just like any line of work this is your monetary possessions so we definitely need to ensure it’s the right person for us before we copy them so the first things i would call it if you do wish to use this function we’ve got a couple of different choices 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 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 need to put in your credit card details or anything you can essentially have this virtual portfolio simulate as if you are utilizing your own money but in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfortable with using your real money maybe this is a terrific option for you once again to evaluate the theories all right you might want to purchase tesla or apple or this etf why not utilize the virtual option as a method to type of safe have fun with it obviously you may have missed out on gains and losses throughout that time of course if you had invested your real money it permits you to construct self-confidence comprehend the platform so that’s one choice 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 bear in mind prior to you pick somebody that you’re going to copy or a portfolio you’re going to copy ensure you comprehend what your risk profile is now what do i imply by that certainly for me i’m investing long term and they tend to state the longer you’re leaving your investments the riskier you can be run the risk of just suggests am i okay with possibly losing a good quantity of this financial investment or acquiring as
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well now keep in mind whatever is ups and downs you will generate income you’ll lose cash that’s why they make the figure 75 individuals will lose cash but that equally indicates they’ll lose at some point in their journey undoubtedly individuals do generate income too and i’ve got videos all about how you can ensure you’re one of individuals to really generate income but in this scenario make certain you research your threat level would you be all right offering your cash to another person which is effectively what you’re doing and trusting them ensure you understand what they’re investing in fully if you’re somebody who isn’t wanting to be that dangerous do not choose somebody who’s completely into crypto or currency conversion think of it you ‘d probably want a backbone of strong commodities
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like gold and even oil plus more standard etfs and index funds you may not want some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can actually use this too truly easily over here you can copy individuals now it will offer you a lot of choices and you can use the system to actually look for somebody that you fancy in fact following so let’s see maybe we want somebody from united kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds a great quantity and i can discover everyone who has actually satisfied that criteria and it does provide you a threat element also so it tends to be the greater the number the more riskier they are with their stock investing now clearly there are a variety of individuals that have quite high returns
bear in mind it’s like anything to do with the news or predictions of the future this does not indicate someone 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 basic as clicking the copy button and off you go and then you understand ask you to validate are you okay with this and off you go now another way to actually deep dive if we click on this person for instance ruby mza as an example you can actually deep dive into what is she actually 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 great to know ibm paypal yep she’s certainly like type of into those blue box and the tech industry she’s got some of mine in fact that i invest in too which is excellent so actually for me knowing what i like to buy my individual stocks and shares she would resonate with me she’s got a great spread in tech companies that seems to be what she chooses she’s also got a little bit more um of the sort of main food companies and you have actually got you understand pharmaceutical and production companies as that. 212 Trading In Canada.
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