Bingbon — Copy Trading

Published in

BingX

3 min readMay 29, 2020

Over the past few months, the Bingbon team has been hard at work developing the copy trading platform for the Bingbon website.

The team is excited to announce the soft launch of Copy Trading for bingbon.com!

To help explain the copy trading system for users, let’s take a look at how copy trading works, how to set it up, and some FAQ’s for Bingbon Copy Trading!

What is Copy Trading?

Copy Trading allows users to copy professional traders! On Bingbon, users can search and check the trading data for hundreds of traders, find the trader they like, and follow them!

How do I start Copy Trading on Bingbon?

1. Go to bingbon.com and click Copy Trade

2. Find and select a trader that you want to follow

3. Select your margin (USDT/VST)

4. Select margin mode (Fixed Margin/Proportional Margin)

Fixed Margin allows you to set the per-trade margin for each copy trade. For example, if I set the Fixed Margin to 10 USDT, each time the trader completes a trade, I will copy with 10 USDT.

Proportional Margin allows you to set the margin on a per-unit basis. For example, if I set the Proportional Margin to 10 USDT/unit, and a trader opens a trade of 2 units, I will copy with 20 USDT.

5. Set the Day Copy Trading Amount

This is the amount of principal for copied orders in a day. When you reach this amount, you will stop copying this trader until the next day.

6. Click Advanced Settings

7. Set Maximum Position Amount (USDT)

Maximum Position Amount is the maximum amount of open principal for copied orders. Once the copied open order principal reaches this amount, no more trades will be copied until some open orders are closed.

8. Set Stop Loss Ratio

By setting at 70%, the order will be closed when the trade reaches a 70% loss.

9. Click “Copy Now”

You’re all ready to go. Next time the trader makes a trade, you will copy them.

Troubleshooting:

Tried to copy a trader but it isn’t working?

Make sure your account is in Isolated Margin Mode, not Cross Margin Mode. In the trade section you can toggle between these two modes.

Ensure your funds are in the Fund Account, not Cross Margin Account.

What are the benefits of Copy Trading?

Copy Trading helps users to begin trading without having to know anything about trading. See what professional traders do, learn why, and when they make a profit you will share 8% with the trader. It’s a mutually beneficial relationship.

What are the risks of Copy Trading?

The greatest risk a trader will face when copy trading is market risk. If the traders strategy is unsuccessful, they can lose money. Traders also face liquidity risk if the trading pairs have liquidity issues when markets are volatile.

Can I become a Copy Trader?

Sure! Anyone can become a copy trader. Just start trading on Bingbon, build up a profitable trading history and you can become a Copy Trader. As a Copy Trader, you will earn 8% of the net profits of your followers!

Ready to start Copy Trading? Register Today!