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Binance, one of the world’s leading cryptocurrency exchanges, has introduced an exciting and innovative feature for its futures products – Copy Trading. This new feature allows users in select markets to follow and replicate the trading strategies and portfolios of experienced traders, ushering in a more interactive and educational environment within the trading community.
Binance Offers Flexible Investment Management Options
Binance Copy Trading offers two distinct modes, catering to users’ preferences and risk tolerance. The “fixed amount” mode enables copy traders to specify a particular amount they wish to allocate for copying trades. Alternatively, the “fixed ratio” mode allows traders to align with lead traders’ strategies according to their account balance, offering a more flexible approach to managing their investments.
Rachel Conlan, Chief Marketing Officer at Binance, emphasized the company’s mission to enhance financial access and empower users with greater control over their finances. She stated that this initiative directly addresses the growing demand from new users who aspire to learn from and interact with seasoned traders. Furthermore, it provides experienced traders with enhanced opportunities to share their expertise and monetize their knowledge.
Copy Traders Gain Comprehensive Portfolio Insights
Lead traders who share their strategies and techniques on Binance Feed will enjoy several benefits. They can earn a 10 percent profit share and receive a 10% trading commission rebate from copy traders who replicate their trades. This incentivizes knowledge sharing and offers financial rewards for seasoned traders who contribute to the community.
Copy traders, on the other hand, can simultaneously follow up to 10 lead traders. They gain access to vital information about the portfolios of these experienced traders, including returns over various time frames, profit and loss records, maximum drawdown, and assets under management. This transparency ensures that copy traders have the necessary information to make informed decisions about whom to follow.
Binance’s Commitment to Regulatory Compliance
It’s worth noting that in 2021, Binance took steps to align with regulatory requirements in specific regions. For Australian customers, the exchange withdrew its futures and options services, as well as leveraged token offerings. Additionally, Binance temporarily paused the initiation of new accounts for trading options, margin products, and leveraged tokens in Australia, highlighting the company’s commitment to compliance and regulatory adherence.
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