Binance, a prominent cryptocurrency exchange, has unveiled a new copy trading feature for its futures products in specific markets. This innovative addition enables users to closely track and replicate the trading strategies and portfolios of experienced traders, fostering a more interactive and educational environment within the trading community.
Binance Offers Flexible Investment Management Options
Binance Copy Trading offers two modes to cater to users’ preferences and risk tolerance. The “fixed amount” mode allows copy traders to specify a specific amount they want to allocate for copying trades. Alternatively, the “fixed ratio” mode enables traders to mirror lead traders’ strategies in proportion to their account balance, offering a more flexible approach to managing their investments.
Rachel Conlan, Chief Marketing Officer at Binance, highlighted the company’s mission of improving financial access and empowering users to have greater control over their finances. Accordingly, this initiative addresses the growing demand from new users seeking to learn from and engage with seasoned traders. Additionally, experienced traders now have expanded opportunities to share their knowledge and monetize their expertise.
Copy Traders Gain Comprehensive Portfolio Insights
Lead traders can share their strategies and insights on Binance Feed, earning a 10 percent profit share and receiving a 10% trading commission rebate from copy traders who replicate their trades. This feature encourages knowledge sharing and provides a financial incentive for experienced traders to share their expertise with the community.
Copy traders can follow up to 10 lead traders simultaneously, accessing crucial information about their portfolios, including returns over various time frames, profit and loss records, maximum drawdown, and assets under management. This transparency ensures that copy traders have all the necessary information to make informed decisions about whom to follow.
In 2021, Binance took steps to comply with regulatory pressures in specific regions, including withdrawing its futures and options and leveraged token services for Australian customers. The exchange also paused the creation of new accounts for trading options, margin products, and leveraged tokens in Australia, demonstrating its commitment to compliance and regulatory adherence.
