Not actually having the full amount of capital…Bitboy Bybit Referral Code… so with anything that you’re learning about please do study the platform don’t just assume due to the fact that i utilize 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 choice too so you actually 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 naturally your capital is at risk this is investing we’re doing you’re buying genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s financial investments with your cash so obviously your capital is at risk and we need to bear that in mind do not simply do something since that individual has stated they’ve made revenue 14 months in a row buy these options due to the fact that you believe is the best ones for you and that being said 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 aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we do not generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our cash we can actually say i want to do exactly what that trader is doing or match that specific portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money will be simulated with it so that implies if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to likewise cover is the fees involved actually critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are genuine business 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 absolutely no charge sites then may not charge you for in fact buying and selling etfs or funds specific commodities specific stocks.
there’ll be charges on other parts possibly it’s our fx rate when you’re changing from uk to u.s dollars there’s all sort 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 prior to you in fact begin investing in copy trading or copy portfolios and finally 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 start with costs really essential to understand these now on there’s a couple of costs there isn’t fees to do with in fact buying and selling alright so commission costs are free nevertheless there are a couple of other costs the first one is withdrawal costs so you can undoubtedly put cash in now if you remain in the uk we put our uk money.
and it’s automatically converted into us dollars and i’ll cover a little point about that in the future however when you wish to withdraw your cash so you offer your shares you sell your commodities whatever you’re offering the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me obviously knowing that i’m going to make certain that i’m only withdrawing when i definitely need to now you might say 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 fees somewhere and withdrawal charges are simply among those options that they have a great deal of platforms clearly are totally 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 once every 6 months you know depends entirely how you’re investing but that is a charge to bear in mind the 2nd charge that i have actually touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to purchase in euros or uk which’s great that matches me.
a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m great with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and two open market anyone at all this is basic they have actually i suppose stuck with whatever cost they charge for that conversion rate you sort 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 providing 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 give me us dollars instead you need to pay their fees now the excellent thing about though when you have actually transformed your cash you do not have to invest it immediately that dollar value can sit 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 extra charges so that’s actually great utilizing that part of their website will not definitely limit you in any way however we have to be aware of 2 other costs the first being what’s called spread fees all right and i’m going to reveal you what i imply on now a spread cost as i’m going to show you Bitboy Bybit Referral Code.
You are given many choices 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 understand which system to pick, then this might be exactly what you need.