Copy trading on Binance
Binance has https://twitter.com/binance/status/1782743259942678975 the launch of its new tool copy trading spotwhich will allow users to automatically copy the operations of the best traders active on the cex.
“We always listen to our users to improve our products, because they know what is most functional for the operations they carry out,” he declared Rohit Wad, CTO of Binance, in a statement to The Block. “Spot copy trading is one such idea, a tool that automates trading and gives users the ability to try new strategies.”
Traders, in turn, can monetize their experience by sharing operations, as already happens on various platforms such as eToro, Bybit, OKX And Bitget.
On Binance the recordings for “lead traders”, who will have to meet minimum capital management requirements. The actual tool will be available to users in May.
Benefits for traders and users
The “lead traders” will also be able to receive one weekly 10% share of the profit of users, plus one discount on commissions. It will be possible to “copy” the activities of ten wallets at a time, setting criteria such as stop-less as desired. However, financial leverage will not be available.
Copy trading adds to an already large series of automated products, such as wallet rebalancing botand is functional, according to the cex, to better control one’s activities in a market that never stops, 24 hours a day, 7 days a week. Furthermore, for less experienced users, spot copy trading could allow them to experiment and learn more about the trading activity as such.
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