Not really having the full amount of capital…Bitboy Bybit… so with anything that you’re discovering please do study the platform do not just presume due to the fact that i use it that you can utilize it immediately do some due diligence have a little experiment with it even invest with virtual money they give that alternative also so you really get used to the structure of the site and then when you’re ready to use 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 purchasing genuine companies if you select to in this particular video we’re talking about how to copy other individuals’s investments with your cash so certainly your capital is at danger and we have to bear that in mind do not just do something since that individual has actually said they have actually made earnings 14 months in a row purchase these options because you think is the right 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 element that is most likely.
well-known for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a great deal of platforms and the other benefit is these copy portfolios are copy trading and so that indicates with our cash we can actually state i want to do precisely what that trader is doing or match that exact portfolio of choices and basically every time they make a trade they purchase they sell whatever they do your money 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 also cover is the charges involved truly important you comprehend what are the expenses of this now with any platform there will be some expense to obviously these are real business that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost websites then may not charge you for in fact buying and selling funds or etfs specific commodities specific stocks.
there’ll be costs on other parts perhaps it’s our fx rate when you’re altering from uk to u.s dollars there’s all kinds of fees 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 start investing in copy trading or copy portfolios and finally some best advice finest practices if you are thinking of this as a tool whether you begin your journey or your advanced financier so let’s begin with costs truly essential to comprehend these now on there’s a number of costs there isn’t charges to do with in fact buying and selling all right so commission fees are free however there are a number of other charges the very first one is withdrawal charges so you can undoubtedly put money in now if you’re 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 money so you offer 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 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m only withdrawing when i absolutely need to now you may state okay that’s rather pricey and i get that however it’s all to do with how they run their platform they need to charge fees somewhere and withdrawal fees are just one of those alternatives 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 mostly it can be maybe even once a year once every 6 months you know depends entirely how you’re investing however that is a fee to keep in mind the 2nd cost that i’ve discussed is that conversion charge now with you’re dealing in us dollars only there’s not an option to buy in euros or uk and that’s fine that matches 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 2 open market anybody this is basic they have actually i suppose stuck to whatever charge they charge for that conversion rate you kind of need to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing 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 need to pay their charges now the terrific feature of though when you have actually converted your money you do not need to invest it immediately that dollar worth can being in your portfolio as cash dollars for as long as you like so that implies the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s truly great utilizing that part of their website won’t certainly limit you in any way nevertheless we have to be aware of 2 other costs the first being what’s called spread fees fine and i’m going to show you what i imply on now a spread fee as i’m going to reveal you Bitboy Bybit.
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