Binance has unveiled copy trading for its futures products
in selected markets. This feature allows users to follow and replicate seasoned
traders’ trading portfolios and strategies. It allows users to become lead and
copy traders simultaneously, fostering more interaction within the trading
community, the company said.
Rachel Conlan, the Chief Marketing Officer at Binance,
remarked: “Binance’s mission is to improve financial access and our
products aim to help our users achieve greater control of their own finances.
We are meeting the demand of new users who want to learn from and engage with
seasoned traders, who in turn, will now have more ways to share and monetize
their experience. We believe copy trading lowers the barriers to entry into
crypto and can help improve social engagement within the community.”
Binance Copy Trading offers two distinct modes to cater to
its user’s preferences and risk tolerance. The first mode is “fixed
amount,” which allows copy traders to specify a set amount they wish to
allocate for copying trades. The second mode, “fixed ratio,” enables
traders to follow lead traders’ strategies based on their account balance,
Binance explained.
Lead traders participating in Binance’s copy trading feature
can earn a 10 percent profit share and receive a 10 percent trading commission
rebate from copy traders who replicate their trades. Additionally, lead traders
can share their trading strategies and techniques on Binance Feed.
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
— CZ 🔶 Binance (@cz_binance) October 9, 2023
Benefits for Binance’s Copy Traders
On the other hand, copy traders can choose to follow up to
10 lead traders simultaneously. They can access important information about
lead traders’ portfolios, including their returns over 7, 30, and 90 days,
profit and loss records, maximum drawdown, and assets under management.
According to the exchange
