Not really having the full amount of capital…Bitboy Bybit… so with anything that you’re finding out about please do study the platform don’t just assume since i utilize it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that alternative too so you in fact get used to the structure of the website and after that when you’re ready to use your own cash to invest you can do so now i will disclaim obviously your capital is at threat this is investing we’re doing you’re purchasing genuine business if you select to in this particular video we’re speaking about how to copy other individuals’s investments with your money so obviously your capital is at danger and we have to bear that in mind do not simply do something since that individual has said they have actually made earnings 14 months in a row invest in these options due to the fact that you believe is the ideal ones for you which being said let’s dive straight in [Music] so 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 probably.
well-known for it’s the choice to see what other traders are doing unbelievable we don’t generally get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that implies with our money we can actually say i wish to do exactly what that trader is doing or match that exact portfolio of options and essentially whenever they make a trade they purchase they offer whatever they do your money will be imitated with it so that indicates if for example 10 of their financial investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to also cover is the fees involved actually crucial you comprehend what are the expenses of this now with any platform there will be some cost to certainly these are real business that are investing they’re doing the purchasing the selling for you there’s going to be charges involved and even some of the zero fee websites then may not charge you for in fact buying and selling funds or etfs private commodities individual stocks.
there’ll be fees on other parts maybe it’s our fx rate when you’re changing 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 costs with in particular in this video the next would be things to know before you really start buying copy trading or copy portfolios and finally some best suggestions finest practices if you are thinking about this as a tool whether you begin your journey or your advanced investor so let’s begin with costs actually essential to understand these now on there’s a number of charges there isn’t fees to do with actually buying and selling fine so commission charges are totally free nevertheless there are a couple of other charges the first one is withdrawal costs so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you wish to withdraw your cash so you sell your shares you sell your products whatever you’re selling the minimum amount you can withdraw is thirty dollars back out and they do charge you five dollars per withdrawal so for me of course knowing that i’m going to make sure that i’m only withdrawing when i definitely require to now you may state fine that’s rather pricey and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal fees are simply one of those choices that they have a great deal of platforms undoubtedly are totally free to do such things has this 5 dollar charge so in my eyes make your withdrawals mostly it can be maybe even once a year once every six months you know depends entirely how you’re investing but that is a fee to bear in mind the 2nd charge that i’ve touched upon is that conversion fee now with you’re handling us dollars only there’s not a choice to purchase in euros or uk and that’s great that suits 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 great with that we have what’s called the fx currency conversion fee now when you utilize anyone so if you’re using trading two and 2 open market anyone at all this is basic they have actually i expect stuck to whatever fee they charge for that conversion rate you sort of have to accept you know if you want to use their platform go from uk to us then that conversion charge is there what are they really giving you in terms of 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 rather you have to pay their fees now the excellent feature of though when you’ve converted your cash you do not need to invest it immediately that dollar value can being in your portfolio as money dollars for as long as you like so that suggests the preliminary day that you buy or convert your dollars is the only charge that takes place now with copy trading and copy portfolios there aren’t any additional fees so that’s truly great utilizing that part of their site won’t definitely limit you in any way however we have to understand two other fees the very first being what’s called spread costs fine and i’m going to show you what i imply on now a spread cost as i’m going to reveal you Bitboy Bybit.
You are offered numerous options with this software application and you can configure it however you see fit. If you’re looking to start trading the forex market but do not understand which system to select, then this may be precisely what you require.