So to start the answer to 212 Trading In Canada….Concerns that i hear from new financiers what if you’re brand new to investing you simply don’t want to decide what you in fact wish to invest and you want somebody to do it for you there’s only a number of manner ins which that can take place the first off you can work with an investment portfolio manager they’ll generally charge a rather 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 buy mutual funds particular funds are created 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 bear in mind this platform is quite innovative you can do cfds which of course cfds are methods of investing
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with not in fact having the total of capital so with anything that you’re discovering please do study the platform do not just assume since 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 money they consider that option too so you actually get utilized to the structure of the website and after that 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 buying real business if you select to in this specific video we’re talking about how to copy other people’s financial investments with your money so undoubtedly your capital is at risk and we need to bear that in mind do not just do something because that individual has said they have actually made revenue 14 months in a row purchase these options due to the fact that you think is the best ones for you which being stated let’s dive directly 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 extraordinary we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can in fact state i wish to do precisely what that trader is doing or match that specific portfolio of alternatives and basically each time they make a trade they purchase they sell whatever they do your money will be simulated with it so that suggests if for example 10 of their financial 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 costs included truly important you comprehend what are the expenses of this now with any platform there will be some cost to undoubtedly 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 zero charge websites then might not charge you for actually buying and selling funds or etfs private products individual 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 kinds of charges associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really begin investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s kick off with costs really crucial to understand these now on there’s a couple of fees there isn’t fees to do with in fact buying and selling all right so commission costs are totally free however there are a number of other costs the very first one is withdrawal fees so you can certainly put cash in now if you’re in the uk we put our uk cash.
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and it’s automatically converted into us dollars and i’ll cover a little point about that later on however when you wish to withdraw your money so you sell your shares you offer your products whatever you’re offering the minimum amount 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 sure that i’m just withdrawing when i absolutely need to now you may state okay that’s quite costly and i get that however it’s all to do with how they run their platform they have to charge fees someplace and withdrawal costs are simply one of those options that they have a lot of platforms clearly are complimentary to do such things has this 5 dollar charge so in my eyes make your withdrawals largely it can be maybe even once a year once every six months you understand depends completely how you’re investing but that is a charge to bear in mind the 2nd fee that i have actually touched upon is that conversion charge now with you’re handling us dollars only there’s not a choice to buy in euros or uk which’s fine that matches me.
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a great deal of my stocks are us dollar stocks anyway or the etfs that i’m buying or perhaps some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is standard they have actually i suppose stuck to whatever fee they charge for that conversion rate you sort of have to accept you understand if you wish to use their platform go from uk to us then that conversion fee exists what are they in fact providing 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 need to pay their charges now the excellent aspect of though when you have actually converted your money you do not need to invest it right now that dollar worth can sit in your portfolio as money 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 additional fees so that’s really good using that part of their website won’t definitely limit you in any way however we need to understand two other charges the first being what’s called spread costs fine and i’m going to show you what i indicate on now a spread cost as i’m going to reveal you
on is generally the distinction that belongs to the investment platform in between the buy rate 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 worth 599 per share in tesla that actually indicates that when you wish to buy or offer as you can see it’s not the rate you’re seeing up here let me reveal you that again so the current price of tesla is the value 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 way that they make a small amount of profit from you whenever you do a purchaser’s share so keep that in mind certainly it’s more costly to purchase than it is to offer so they’re going to give you less back with your sale and you state alright well why does that happen it just does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to sell it and that is how they make a little bit of cash on those spread out charges it’s generally incredibly small it could be a matter of pens matter of cents in there but that’s one location every investment company will once again make a bit cash now the last feat is called an
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over night charge now this is really crucial if you’re actually utilizing cfds yourself too an overnight fee is when you’re not doing that buy sell transaction in the exact same day all right there’s then an over night fee charged or perhaps if you go from the friday to the monday before cruising a weekend charge now this just applies to cfds so if you’re really buying out the etf the stock the commodity and utilizing time one leverage which suggests you’re really buying the precise possession rather than utilizing leverage anyway you won’t get hit with these charges but these fees are if you’re using utilize and cfds and then you’re going to have these costs if you’re not buy selling in the exact same day so let’s say if you enter into the assistance section this isn’t the over night fees details you can see precisely the breakdown and it’ll inform you what are the charges what are the charges then for when you’re doing overnight or you’re doing over weekends which just applies as i said to cfds there are some surcharges of course depending on what you are buying as well this is on your own so keep that in mind however complete charges are completely within their assistance information all right and we spoke about as well as totally free to deposit in but there’s a five dollar charge if you want to withdraw from anything whether it’s been cfds normal product stock shares whatever 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 different ways of actually using these copy operates they don’t have any extra costs on top of the typical costs that
are there now what you need to remember though is these potentially managed by other individuals entirely or sometimes have developed portfolios you have actually got a real person doing the management you have to make certain you choose the individual that’s right for you much like any profession this is your financial assets so we definitely require to ensure it’s the ideal person 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 options for us firstly if you’re brand new to investing i wish to draw your attention to this within you have the choice to invest real money 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 will not need to put in your charge card information or anything you can generally have this virtual portfolio simulate as if you are utilizing your own cash however in fact buy pretend buy copy individuals whatever you like if you’re not
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feeling comfy with using your genuine money possibly this is a fantastic choice for you once again to evaluate the theories all right you may wish to purchase tesla or apple or this etf why not use the virtual alternative as a way to type of safe have fun with it clearly you might have lost out on gains and losses during that time naturally if you had actually invested your real money it allows you to construct 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 really how to copy people and copy portfolios now here’s something to keep in mind before you choose 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 mean 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 simply means am i okay with possibly losing a great amount of this financial investment or getting as
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well now keep in mind everything is downs and ups you will generate income you’ll lose money that’s why they make the statistic 75 individuals will lose money but that similarly means they’ll lose eventually in their journey certainly individuals do generate income as well and i’ve got videos everything about how you can make sure you are among the people to really generate income but in this situation ensure you research study your threat level would you be okay providing your money to someone else which is efficiently what you’re doing and trusting them make sure you comprehend what they’re buying completely if you’re someone who isn’t wanting to be that risky do not pick somebody who’s entirely into crypto or currency conversion think about it you ‘d probably want a foundation of strong products
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like gold or perhaps oil plus more standard 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 say you can in fact utilize this too really quickly over here you can copy people now it will give you a great deal of options and you can utilize the system to actually look for someone that you fancy actually following so let’s see maybe we want someone from united kingdom um who purchases let’s see who does etfs they have actually gained at least 10 yeah that sounds reasonable that sounds an excellent quantity and i can find everyone who has actually satisfied that requirements and it does give you a risk element too so it tends to be the greater the number the more riskier they are with their stock investing now certainly there are a number of individuals that have quite high returns
keep 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 might make four or minus 50 there’s no other way to ensure so do keep that in mind and as easy as clicking the copy button and off you go and after that you understand ask you to confirm are you okay with this and off you go now another method to actually deep dive if we click on this person for instance ruby mza as an example you can really deep dive into what is she really purchasing so let’s go into portfolio and you can see she’s rather heavy into microsoft mastercard amazon she likes her tech a bit so that’s excellent to know ibm paypal yep she’s definitely like type of into those blue box and the tech market she’s got some of mine in fact that i invest in too which is excellent so in fact for me understanding what i like to purchase my private stocks and shares she would resonate with me she’s got a great spread in tech companies that appears 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. 212 Trading In Canada.
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