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- Binance Futures introduced a crypto copy trading feature on its platform.
- The feature provides two modes: âfixed amountâ and âfixed ratio.â
- Lead traders can earn a 10% profit share and a 10% trading commission rebate from their followers.
Binance Futures expanded its offerings with the debut of its new crypto copy trading feature, available via its website and mobile app for select markets. This feature allows users to observe and replicate the trading strategies of more experienced traders, aiming to foster a collaborative environment within the trading community.
Copy trading is now live on #Binance.
You can replicate the trades of some of the best traders on our platform.
Try it here: https://t.co/fLjyikYl4z pic.twitter.com/eHuWKplmBV
â CZ Binance (@cz_binance) October 9, 2023
How Binanceâs Copy Trading Works
Binanceâs Copy Trading system offers two investment modes. The âfixed amountâ mode lets users set a predetermined sum for each trade. The âfixed ratioâ mode, on the other hand, allows users to adjust their investments based on the strategies of lead traders and their account balance.
The feature serves as a learning platform for newer traders. It also offers seasoned traders an opportunity to share their expertise. When lead traders make their trades accessible for copy trading, they earn a 10% profit share and an additional 10% trading commission rebate from their followers.
Copy traders, on the other hand, can monitor up to 10 lead traders at once. They can view the lead tradersâ portfolio data, such as return on investment (ROI), profit and loss statements (PnL), and other relevant metrics. This feature gives copy traders every information they need to determine the lead trader they would want to follow.
What are the Limitations of the Feature?
The Copy Trading account on Binance is separate from the Binance Futures account. Currently, it only supports over 100 USDâ-M Futures contracts. The trading process for lead trading is similar to that of Futures trading. But special functions like trailing stop orders and multi-assets mode are unsupported.
Slippage protection is in place to avoid significant price deviations during real-time copy trading. Its limit is set at 0.3% for BTCUSDT and ETHUSDT pairs and 0.5% for other trading pairs. Nevertheless, Binance reminds users that copy trading does not guarantee profits and has its own set of risks.
If you are interested in learning more about how tools like these work, check out our post on crypto copy trading platforms.
The post Binance Future Copy Trading goes live for Web and App users appeared first on Bitcoinsensus.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.