Not really having the full amount of capital…Bitboy Bybit… so with anything that you’re discovering please do study the platform don’t simply assume due to the fact that 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 cash they give that alternative too so you actually get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re investing in genuine business if you pick to in this specific video we’re discussing how to copy other people’s financial investments with your money so clearly your capital is at threat and we need to bear that in mind do not simply do something since that person has actually said they have actually made revenue 14 months in a row purchase these choices since you think is the ideal 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 comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that indicates with our cash we can really state i wish to do exactly what that trader is doing or match that exact portfolio of alternatives and basically whenever they make a trade they buy they offer whatever they do your cash will be imitated with it so that indicates if for example 10 of their financial investment portfolio remains in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs included really crucial you understand what are the costs of this now with any platform there will be some cost to clearly 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 some of the no cost sites then may not charge you for in fact buying and selling etfs or funds private products specific stocks.
there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees 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 before you really start purchasing copy trading or copy portfolios and lastly some best guidance finest practices if you are thinking of this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs actually crucial to comprehend these now on there’s a couple of charges there isn’t fees to do with in fact buying and selling okay so commission fees are totally free however there are a number of other charges the very first one is withdrawal fees so you can clearly put money in now if you remain in the uk we put our uk cash.
and it’s automatically 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 offer your shares you sell your commodities whatever you’re selling 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 make sure that i’m just withdrawing when i absolutely require to now you may state all right that’s quite expensive and i get that however it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal costs are just one of those options that they have a lot of platforms undoubtedly are free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be maybe even once a year when every 6 months you understand depends entirely how you’re investing however that is a fee to bear in mind the 2nd charge that i’ve discussed is that conversion cost now with you’re handling us dollars just there’s not a choice to purchase in euros or uk and that’s great that fits me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m purchasing and even some crypto so i’m great with that we have what’s called the fx currency conversion charge now when you utilize anybody so if you’re utilizing trading 2 and two open market anyone at all this is basic they have i suppose stuck to whatever charge 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 actually giving 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 offer me us dollars instead you need to pay their charges now the great feature of though when you have actually transformed your cash you do not have to invest it immediately that dollar value can being in your portfolio as cash dollars for as long as you like so that indicates the preliminary day that you buy or transform your dollars is the only charge that occurs now with copy trading and copy portfolios there aren’t any additional costs so that’s actually good using that part of their website will not certainly restrict you in any way nevertheless we need to understand 2 other charges the first being what’s called spread charges all right and i’m going to show you what i suggest on now a spread fee as i’m going to reveal you Bitboy Bybit.
You are provided numerous options with this software application and you can configure it nevertheless you see fit. If you’re looking to start trading the forex market however do not understand which system to select, then this may be precisely what you require.