Copy Trading has been one of the greatest unique features on our platform. We are excited to announce that our Copy Trading feature has been elevated to newer and greater heights.
Starting this week, BingX’s copy trading will now implement a new Fund Copy feature that benefits both the users and the Copy Traders. Our new Fund copy feature will connect users from other major exchange platforms by accessing their read-only API. In other words, copy traders are now able to share their trades on other platforms such as Binance, and BingX users will be able to copy their trades! This new feature will be implemented in our next-generation trading service called CopyTrade Pro.
Due to further popular demand, CopyTrade Pro is now available to all users for public beta testing. Update your BingX APP to v2.42.0 to start now!
What Is CopyTrade Pro?
It is a stand-alone copy trading service that enables external traders to directly share their trading strategies on other platforms (e.g. Binance) to BingX.
Copy traders get more exposure and expand their number of followers simply by connecting a read-only Binance API to BingX; while users/ followers get access to more pro traders and a wider range of products, all in the comfort of BingX.
Different to the current “single trade” CopyTrade system on BingX, CopyTrade Pro uses a fund style system, where uses lock a certain amount of assets with a copy trader and trades are made from that pool of funds. This improves capital efficiency and reduces risks due to the cross-margin account of CopyTrade Pro.
Currently, BingX only supports CopyTrade Pro for Binance traders. We will be adding more platforms very soon!
Why CopyTrade Pro?
- BingX’s new chapter is all about connecting our future generation. But that doesn’t mean that we are limited to only having copy traders use our platform. We plan to help connect experienced traders with newer ones through this new feature.
- As a result of this new feature, BingX plans to provide algorithmic data for users that use Copy Trading. Users/followers will now be able to access data from other platforms the copy trader uses.
- Quality traders are selected worldwide. The platform will closely review the copy trader’s assets and long-term historical data to ensure our platform provides the best quality of copy traders.
- Increased capital efficiency and reduced risks with “fund style” copy trading system.
For a more detailed explanation check out our: CopyTrade Pro Guidelines
CopyTrade Pro — Public Beta Test Reward
Users can send feedback on issues or give suggestions for optimization regarding their use of CopyTrade Pro. If users’ feedback and suggestions are confirmed by BingX, they’ll receive a 10–100 USDT (5x) bonus.
- Please submit feedback and suggestions by Dec 20, 2021 (UTC+8).
- Submission of duplicated or already-recorded issues will not be rewarded.
- BingX reserves the right to the final interpretation for this event.
FAQ
Q1. CopyTrade Pro vs. Copy Trade
Q2. When will the followers’ Copy Trade start after copying a trader in CopyTrade Pro?
1) If the copy trader has already-opened positions, it will only start when they close all already-opened positions and open a new position.
2) If the copy trader does not have any positions in their account, it will start immediately when the copy trader opens a new position.
Q3. Can followers edit the Copy Trade details in CopyTrade Pro?
Editing the Copy Trade details is not currently supported, as all trading activities take place on the external platform. This helps to ensure PnL consistency between the copy trader and the follower.
Q4. What will happen to the follower Copy Trade account if the copy trader makes a deposit or withdrawal in his/her USDT-Margined Futures account on the external platform?
1) If the trader makes a deposit, an equal percentage of position reduction will be made to the follower’s Copy Trade account to ensure that the real leverage of the follower’s Copy Trade account is the same as the real leverage of the trader’s account.
2) If the trader makes a withdrawal, the NAV of the Copy Trader’s USDT-Margined Futures Account on Binance becomes smaller, while the risk of forced liquidation is higher than the follower’s Copy Trade account. Therefore, no changes will be made to the position of the follower’s Copy Trade account.
Q5. If the follower increases or decreases the Copy Trade funds, what will happen to his/her Copy Trade account?
1) If the follower increases the Copy Trade Funds when there are opened positions in the Copy Trade account, the added funds will not be used as it will lead to an inconsistency in opening prices between the copy trader and follower. The added fund will be included as the margin only after the copy trader closes all already-opened positions and opens a new position.
2) Reducing Copy Trade funds once copying starts is not supported in CopyTrade Pro. The only way to do this is to stop copying and reset the copy trade details before copying again.
Q6. Are BUSD Perpetual Contracts and USDT Delivery Contracts supported in CopyTrade Pro?
Only USDT Perpetual Contracts are currently supported. If a copy trader trades BUSD Perpetual Contracts or USDT Delivery Contracts, no orders will be placed in the followers’ Copy Trade Account.
Risk Warning:
Trading digital assets and their derivatives is highly leveraged and risky and may result in partial or total loss of account funds. Before conducting spot/contract trading, investors must ensure that they understand the nature and rules of spot/contract trading, and decide whether to participate in spot/contract trading based on their investment experience, goals, financial status, and ability to bear risks.
