Not really having the total of capital…Bitboy Crypto Bybit… so with anything that you’re discovering please do study the platform don’t simply assume because i use it that you can utilize it right now do some due diligence have a little experiment with it even invest with virtual cash they consider that choice as well so you actually get utilized to the structure of the site and then when you’re ready to utilize 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 buying genuine business if you pick to in this specific video we’re talking about how to copy other individuals’s financial investments with your cash so undoubtedly your capital is at danger and we have to bear that in mind do not simply do something because that person has actually stated they have actually made earnings 14 months in a row invest in these choices because you believe is the ideal ones for you and that being stated let’s dive directly in [Music] so the things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it belongs to social trading which is one element that is probably.
popular for it’s the alternative to see what other traders are doing extraordinary we don’t generally get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that means with our cash we can in fact say i want to do precisely what that trader is doing or match that exact portfolio of alternatives and basically each time they make a trade they buy they sell whatever they do your money will be imitated with it so that implies if for instance 10 of their 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 charges involved really critical you comprehend what are the costs of this now with any platform there will be some expense to clearly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the no cost websites then might not charge you for in fact buying and selling funds or etfs specific commodities individual 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 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 investing in copy trading or copy portfolios and lastly some best recommendations best practices if you are considering this as a tool whether you start your journey or your advanced financier so let’s start with fees truly crucial to comprehend these now on there’s a couple of costs there isn’t costs to do with actually buying and selling all right so commission costs are free nevertheless there are a number of other charges the very first one is withdrawal costs so you can clearly put money in now if you remain 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 want to withdraw your money so you offer your shares you offer your commodities 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 obviously understanding that i’m going to make certain that i’m just withdrawing when i absolutely require to now you may say alright that’s rather expensive 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 simply one of those options 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 mainly it can be maybe even once a year when every 6 months you understand depends completely how you’re investing but that is a charge to keep in mind the second fee that i’ve touched upon is that conversion cost now with you’re dealing in us dollars only there’s not an alternative to buy in euros or uk and that’s fine that suits 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 cost now when you utilize anyone so if you’re utilizing trading two and two free trade anybody this is basic they have actually i expect stuck with whatever cost they charge for that conversion rate you type of have to accept you know if you wish to use their platform go from uk to us then that conversion charge exists what are they really 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 state give me us dollars instead you have to pay their fees now the excellent feature of however when you’ve converted your money you do not have to invest it right now that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial 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 extra charges so that’s truly great utilizing that part of their site will not certainly limit you in any way however we have to know 2 other costs the very first being what’s called spread costs fine and i’m going to reveal you what i imply on now a spread cost as i’m going to reveal you Bitboy Crypto Bybit.
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