Binance Simplifies Trading with Copy Trading Feature for Experienced Users
Binance, the world’s largest cryptocurrency exchange by trading volume, has introduced a copy trading feature for futures products in select markets.
This feature aims to simplify trading by enabling users to replicate the strategies and portfolios of experienced “lead” traders. Binance users can act as both copy and lead traders, with lead traders receiving a 10% profit share when their trades are copied. Copy traders have the flexibility to follow up to 10 lead traders simultaneously and set their own risk preferences, including take profit/stop loss, leverage levels, and margin configurations. Binance sees this as a way to enhance engagement within its trading community and lower entry barriers into the crypto market.
While Binance has not disclosed the specific markets where copy trading will be available, the exchange emphasized its commitment to regulatory compliance. Binance continually evaluates its product offerings in response to evolving regulations and regulatory guidance. The exchange has faced regulatory challenges in multiple jurisdictions but maintains its dedication to meeting legal and regulatory standards. This move toward copy trading demonstrates Binance’s ongoing efforts to expand its services and enhance the trading experience for its users.
Clever Robot News Desk 11th October 2023
