Not really having the full amount of capital…Bitboy Crypto Bybit… so with anything that you’re finding out about please do study the platform do not just presume due to the fact that i utilize it that you can use it right away do some due diligence have a little experiment with it even invest with virtual money they consider that alternative as well so you in fact get used to the structure of the website 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 risk this is investing we’re doing you’re investing in genuine business if you select to in this specific video we’re speaking about how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that individual has stated they have actually made profit 14 months in a row purchase these choices because you believe is the right ones for you which being said 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 most likely.
famous for it’s the choice to see what other traders are doing unbelievable we don’t usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading and so that suggests with our cash we can actually state i want to do exactly what that trader is doing or match that specific portfolio of choices and essentially each time they make a trade they purchase they sell whatever they do your money will be simulated 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 cash in so we’re going to also cover is the costs involved actually vital you understand what are the costs of this now with any platform there will be some cost to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges included and even some of the absolutely no fee sites then might not charge you for actually buying and selling etfs or funds private commodities individual stocks.
there’ll be fees on other parts possibly it’s our fx rate when you’re altering 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 start buying copy trading or copy portfolios and lastly some finest advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s start with fees truly important to understand these now on there’s a number of costs there isn’t fees to do with in fact buying and selling all right so commission costs are totally free however there are a couple of other costs the very first one is withdrawal charges so you can obviously put money in now if you’re in the uk we put our uk cash.
and it’s immediately converted into us dollars and i’ll cover a little point about that later on however when you want to withdraw your cash 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 naturally understanding that i’m going to ensure that i’m only withdrawing when i definitely require to now you may state okay that’s rather pricey and i get that but it’s all to do with how they run their platform they have to charge costs somewhere and withdrawal charges are just among those alternatives that they have a great deal of platforms obviously are totally free 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 6 months you understand depends totally how you’re investing however that is a charge to remember the second fee that i have actually touched upon is that conversion cost now with you’re dealing in us dollars just there’s not a choice to buy 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 buying and even some crypto so i’m excellent with that we have what’s called the fx currency conversion fee now when you utilize anybody so if you’re utilizing trading 2 and 2 open market anybody this is standard they have actually i expect stuck with whatever fee 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 is there what are they actually offering 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 say provide me us dollars instead you need to pay their fees now the excellent aspect of however when you’ve 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 buy or transform your dollars is the only charge that occurs 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 restrict you in any way nevertheless we have to know 2 other fees the very first being what’s called spread fees alright and i’m going to show you what i mean on now a spread charge as i’m going to show you Bitboy Crypto Bybit.
You are offered lots of options with this software application 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 select, then this might be exactly what you need.