Nikolas Sargeant
Binance, the world's largest cryptocurrency trading platform, has introduced innovative copy trading features, creating a ripple of excitement within the trading community. Binance Copy Trading now spans various markets, offering users the ability to follow and replicate the portfolios and strategies of seasoned traders.
The copy trading functionality comes with two distinctive modes catering to users' preferences and risk tolerance. The "fixed amount" mode allows copy traders to specify a set amount for replicating trades, while the "fixed ratio" mode enables traders to align their strategies with lead traders based on their account balance.
Lead traders participating in Binance's copy trading program stand to benefit significantly. They can earn a profit share of 10 percent and receive a trading commission rebate of 10 percent from copy traders replicating their trades. Furthermore, lead traders have the opportunity to share their strategies and techniques on Binance Feed, adding a layer of transparency to the trading ecosystem.
Copy traders, on the other hand, can follow up to 10 lead traders simultaneously. Access to crucial information about lead traders' portfolios, including returns over 7, 30, and 90 days, profit and loss records, maximum drawdown, and assets under management, makes it easier for copy traders to make informed decisions.
Copy trading is now live on #Binance.
— CZ 🔶 Binance (@cz_binance) October 9, 2023
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
Binance CEO and founder Changpeng "CZ" Zhao announced this groundbreaking upgrade on his X account. Social trading platform Alpha Impact has joined forces with Binance, becoming an official broker partner. This collaboration brings copy trading for Binance futures to Alpha Impact's platform, aligning with the surge in interest in digital assets.
Binance is the world's largest cryptocurrency exchange. It was founded in 2017 by Changpeng Zhao (often referred to as "CZ") and is headquartered in Malta, although the company has a global presence with offices and operations in various countries. In our Binance review, you can learn about trading a wide variety of cryptocurrencies, their NFT market, staking opportunities and more.
