We get htis a lot on our site the answer to Does Etoro Trade On The Canadian Exchanges….Questions that i hear from new financiers what if you’re brand new to investing you just do not wish to decide what you in fact wish to invest and you want somebody to do it for you there’s just a couple of manner ins which that can occur the first off you can hire a financial investment portfolio manager they’ll normally charge a rather a high premium to do that perhaps a couple of percent of your earnings will go to them the other thing is of course you can purchase mutual funds particular funds are produced 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 sophisticated you can do cfds which naturally cfds are ways of investing
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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply presume due to the fact that i use it that you can use it right away do some due diligence have a little play around with it even invest with virtual cash they consider that choice also so you actually get utilized to the structure of the site and after that when you’re ready to use 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 business if you pick to in this particular video we’re speaking about how to copy other people’s investments with your money so obviously your capital is at danger and we need to bear that in mind do not just do something because that individual has actually stated they have actually made earnings 14 months in a row buy these choices because you believe is the best ones for you which 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 aspect that is probably.
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popular for it’s the alternative to see what other traders are doing extraordinary we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading therefore that suggests with our cash we can in fact say i wish to do exactly what that trader is doing or match that specific portfolio of alternatives and basically whenever they make a trade they purchase they offer whatever they do your money will be mimicked with it so that means if for instance 10 of their 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 involved truly critical you comprehend what are the expenses of this now with any platform there will be some cost to obviously these are real companies that are investing they’re doing the purchasing 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 in fact buying and selling etfs or funds private products specific 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 charges associated so do your due diligence and i’m going to reveal you the charges with in particular in this video the next would be things to know prior to you actually start investing in copy trading or copy portfolios and lastly some best recommendations finest practices if you are considering this as a tool whether you start your journey or your advanced investor so let’s start with charges truly essential to understand these now on there’s a number of charges there isn’t charges to do with actually buying and selling alright so commission charges are free nevertheless there are a number of other costs the first one is withdrawal fees so you can obviously put cash in now if you’re 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 cash 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 naturally understanding that i’m going to make certain that i’m only withdrawing when i absolutely need to now you may state fine that’s rather expensive and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal charges 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 mostly it can be maybe even once a year when every 6 months you know depends completely how you’re investing however that is a cost to keep in mind the second cost that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not an option to purchase in euros or uk which’s great that suits me.
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a lot of my stocks are us dollar stocks anyway or the etfs that i’m buying and even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re using trading two and 2 open market anybody this is standard they have i suppose stuck to whatever charge they charge for that conversion rate you type of have to accept you know if you want to utilize their platform go from uk to us then that conversion charge exists what are they in fact giving you in terms of 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 have to pay their fees now the great feature of however when you have actually converted your cash you do not need to invest it right now that dollar value can being in your portfolio as money dollars for as long as you like so that implies the preliminary 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 fees so that’s really good utilizing that part of their site will not certainly limit you in any way nevertheless we need to know 2 other charges the first being what’s called spread costs okay and i’m going to show you what i suggest on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the financial investment platform between the buy price and the sale price okay it’s their premium on doing both those 2 actions now tesla if you can see on this part of the site right now tesla’s dollar worth 599 per share in tesla that actually implies that when you wish to buy or sell as you can see it’s not the cost you’re seeing up here let me reveal you that once again so the existing price of tesla is the worth of a share what’s called spread fees is the difference then really to buy that share on the platform and you’ll discover this everywhere this is another manner in which they make a percentage of profit from you whenever you do a buyer’s share so keep that in mind certainly it’s more expensive to purchase than it is to sell so they’re going to provide you less back with your sale and you state alright well why does that occur 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 wish to offer it and that is how they make a bit of cash on those spread fees it’s normally extremely small it could be a matter of pens matter of cents in there but that’s one location every investment firm will again make a bit money 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 over night charge is when you’re refraining from doing that buy offer deal in the very same day alright there’s then an overnight fee charged or perhaps if you go from the friday to the monday before sailing a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the product and using time one utilize which suggests you’re really purchasing the specific property rather than utilizing utilize anyway you will not get hit with these costs but these fees are if you’re using utilize and cfds and after that you’re going to have these costs if you’re not buy offering in the very same day so let’s say if you enter into the help section this isn’t the over night costs info you can see exactly the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends and that only applies as i said to cfds there are some additional charges of course depending on what you are buying too this is on your own so keep that in mind but full costs are totally within their help information fine and we talked about in addition to 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 commodity stock shares everything there’s that 5 dollar withdrawal charge now another thing to call it as i have actually said copy trading and copy portfolios are 2 various methods of actually utilizing these copy operates they don’t have any additional costs on top of the regular charges that
exist now what you need to keep in mind though is these possibly managed by other individuals entirely or often have actually produced portfolios you’ve got a genuine person doing the management you need to make sure you select the person that’s right for you just like any type of work this is your financial properties so we definitely need to ensure it’s the right person for us prior to we copy them so the first things i would call it if you do want to utilize this function we’ve got a couple of various options for us to start with 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 play with and it’s not real cash that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own cash however in fact purchase pretend buy copy people whatever you like if you’re not
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feeling comfy with using your genuine cash possibly this is a fantastic alternative for you again to check the theories okay you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to type of safe play with it undoubtedly you might have lost out on gains and losses during that time obviously if you had invested your genuine cash it permits you to construct 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 in fact how to copy individuals and copy portfolios now here’s something to keep in mind before you select somebody 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 undoubtedly for me i’m investing long term and they tend to say the longer you’re leaving your investments the riskier you can be run the risk of just indicates am i okay with possibly losing a great quantity of this financial investment or gaining as
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well now remember whatever is downs and ups you will generate income you’ll lose cash that’s why they make the fact 75 individuals will lose money but that equally means they’ll lose eventually in their journey undoubtedly individuals do earn money too and i have actually got videos all about how you can make certain you’re one of individuals to actually earn money however in this scenario make sure you research your danger level would you be fine providing your money to someone else which is efficiently what you’re doing and trusting them make sure you understand what they’re buying completely if you’re someone who isn’t wanting to be that dangerous do not select 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 or perhaps oil plus more traditional etfs and index funds you might 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 really utilize this too actually quickly over here you can copy people now it will offer you a lot of choices and you can utilize the system to actually look for someone that you expensive actually following so let’s see perhaps we desire somebody from united kingdom um who purchases let’s see who does etfs they’ve gained a minimum of 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually fulfilled that requirements and it does provide you a threat factor also 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 rather high returns
bear in mind 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 4 or minus 50 there’s no other 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 verify are you fine with this and off you go now another way to really deep dive if we click on this person for instance ruby mza as an example you can in fact deep dive into what is she actually investing in 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 great to understand ibm paypal yep she’s certainly like kind of into those blue box and the tech industry she’s got some of mine in fact that i purchase too which is good so really for me knowing what i like to purchase my private stocks and shares she would resonate with me she’s got an excellent spread in tech business that seems to be what she chooses she’s also got a bit more um of the sort of main food business and you have actually got you know pharmaceutical and production business as that. Does Etoro Trade On The Canadian Exchanges.
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