Not actually having the total of capital…Bitboy Crypto Bybit… so with anything that you’re finding out about please do study the platform don’t simply presume since i utilize it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual money they consider that alternative too so you really get utilized to the structure of the site and after that when you’re ready to utilize your own cash 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 investing in genuine companies if you pick to in this specific video we’re talking about how to copy other people’s financial investments with your cash so certainly your capital is at threat and we need to bear that in mind do not just do something since that person has actually said they have actually made profit 14 months in a row buy these choices because you believe is the best ones for you and that 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.
popular for it’s the alternative to see what other traders are doing unbelievable we don’t normally get that insight from a lot of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can really say i want to do exactly what that trader is doing or match that precise portfolio of alternatives and basically every time they make a trade they purchase 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 cash in so we’re going to likewise cover is the costs included really important you understand what are the expenses of this now with any platform there will be some expense to obviously 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 charge sites then might not charge you for actually buying and selling etfs or funds private commodities private stocks.
there’ll be costs on other parts possibly it’s our fx rate when you’re changing 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 know prior to you actually begin purchasing copy trading or copy portfolios and finally some finest guidance best practices if you are thinking about this as a tool whether you start your journey or your more advanced financier so let’s kick off with costs truly essential to understand these now on there’s a number of costs there isn’t costs to do with in fact buying and selling okay so commission charges are totally free nevertheless there are a couple of other fees the very first one is withdrawal fees so you can certainly put money in now if you’re in the uk we put our uk money.
and it’s immediately converted into us dollars and i’ll cover a little point about that in the future but when you wish to withdraw your cash so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me naturally knowing that i’m going to ensure that i’m only withdrawing when i definitely need to now you may say alright 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 fees are just among those alternatives that they have a great deal of platforms obviously are free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year when every 6 months you understand depends totally how you’re investing however that is a cost to bear in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.
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 use anyone so if you’re utilizing trading two and two open market anyone at all this is standard they have actually i expect stuck with whatever cost 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 is there what are they actually giving you in regards to 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 state give me us dollars instead you need to pay their costs now the excellent aspect of though when you’ve converted your money you do not have to invest it right away that dollar value can being in your portfolio as cash dollars for as long as you like so that means the initial 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 costs so that’s really excellent utilizing that part of their website won’t definitely limit you in any way nevertheless we have to know 2 other charges the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread cost as i’m going to show you Bitboy Crypto Bybit.
You are given lots of alternatives with this software and you can configure it nevertheless you see fit. If you’re looking to begin trading the forex market however don’t know which system to pick, then this may be exactly what you need.