On the evening of August 28, Yuan @AlfalfaAla, Binance Copy Trading Operations Manager, visited the Binance Chinese Community and shared the recent popular order-taking function in the Binance Community. The following is a summary of the sharing!
Introduction to the order function
Copy trading helps investors copy the trades of experienced cryptocurrency investors in real time. When a copy trader makes a trade, the system automatically copies the same trade for the copy trader. Copy traders are professional traders who manage portfolios, and other users can copy their portfolios. Copy traders are users who copy the portfolios of copy traders. Copy traders can earn extra commissions and commissions from their copy traders while copying their own trades.
Binance Futures Trading
Binance copy trading portal: https://www.binancezh.info/zh-CN/copy-trading
Or: Log in to your Binance account, click [Derivatives] - [Copy Trading]
After September 21, traders can choose their favorite projects from this page to follow orders. On September 12, the web version can start following orders. On September 21, everyone can use the app to follow orders. Currently in the internal testing stage, only traders are supported to do transactions. On the copy trading page, click [Become a Trader] to enter the order setting.
Click [Become a Carrier] to enter the Carrier Settings:
1. Please note that the minimum order amount cannot be less than 1,000 USDT. After selection, the funds will be transferred to your spot wallet
2. Tradable contract types and assets: Currently, only U-based contracts are supported, which enjoy the same liquidity and depth as Binance contracts.
3. Check the service agreement and click Confirm. After the project is successfully created, the funds will be transferred from the spot wallet to the contract wallet of the order account. Click [Trade] to enter the order trading interface for operation.
4. The trading and auxiliary tools are the same as the contract trading page. Trailing stop orders are not available for order-based trading.
Single project management:
After entering the project, you can see the project details with single members and other operations.
[Transfer]: Add/transfer funds (the maximum transferable amount is the project's available balance minus 1,000). If you need to transfer out the original project funds of 1,000, it will automatically return to the user's Binance spot wallet after closing the project with the order.
[Close]: You cannot close a project if you currently have positions. After closing, all copy orders for the project will automatically stop copying and settle the profit sharing. The project funds will be automatically transferred back to the Binance spot wallet of the person who copied the project.
1. When will copy trading be supported? When will the APP version be launched? Will API trading be supported?
On August 22, the web version has been supported for order taking, and order takers can now take action to rush transactions~
At the same time, Binance held a lead activity. Click to become a lead and you can participate in sharing 45,300 USDT. The best "lead god" can enjoy 13,888 USDT alone! https://www.binance.com/zh-CN/activity/marketing-campaign/d0f473e450e946b1b98b3804a660072b
Leading members can go for the grand prize of 13,888U! This event rewards support transactions, transfers, and withdrawals!
The web version of copy trading will be launched on September 12, and the APP version of order taking and copy trading will be launched on September 21. Stay tuned!
Currently, we do not support API orders, but this will be included in the future product schedule.
2. What is the minimum and maximum amount for copying and leading orders in Binance copy trading? How many projects can one person follow at the same time?
Follow-up: The minimum follow-up amount in the fixed-amount mode is 10U, and the minimum follow-up amount in the fixed-ratio mode is 100U; the maximum follow-up amount is 50,000U per project, and each person can follow up to 10 different projects at the same time.
Leading orders: The minimum initial capital for a project is 1,000U, and the maximum lead capital is 100,000U. Each person can open at most 1 leading project + 10 copying projects of other lead members at the same time.
3. Are Binance’s traditional invitation rebates and copy trading rebates independent of each other or can they be obtained at the same time?
The following is an explanation of the income structure:
If the identity is just a follower: 10% of the profit of the people who follow him + 10% rebate (if there is no follower, it is just the profit and loss of his own transaction)
Just KOL: Regular invitation rebate under spot/contract (regardless of whether the recommended person is a lead or follower, as long as there is a transaction, it will be counted as traditional invitation rebate)
Both a salesperson and a KOL: 10% sales commission + 10% sales rebate + traditional invitation rebate
4. What are the advantages of Binance Copy Trading compared to other similar products?
We will talk about it separately according to products and benefits of order takers:
Product level:
(1) Binance Copy Trading is an independent trading and copying sub-account with independent margin, and personal trading is not affected
(2) Supports both fixed-quota and fixed-ratio order-following modes, giving order-takers more choices
(3) It is well known that it has market-leading liquidity and depth, especially for altcoins, with low slippage
(4) One-click quick order tracking, easy to use
(5) Supports 200+ contract currency pairs to carry out orders and follow orders, with more choices
(6) Traders can take orders and follow orders at the same time, having two identities at the same time
(7) The order-taking strategy can be better supported by the trader by using a limit order to close the position.
(8) Backed by Binance’s ecosystem, you will have more user exposure, gain more order-carrying income and personal brand awareness
Benefits for order-carrying staff: 10% of the order-carrying profit sharing, no additional conditions! In addition to the profit sharing, there is also a 10% rebate on the order-carrying staff’s handling fee.
5. Where is the product entry for Binance Copy Trading?
Binance’s copy trading entry:
From the Binance homepage - click Derivatives - enter Copy Trading
Or from the Binance Futures homepage - Enter Copy Trading
You can also enter directly from the copy trading portal: https://www.binancezh.info/zh-CN/copy-trading
Please note: Currently, the entry from the Binance Futures Ranking and APP applet is Binance’s economic partner: TraderWagon, which is responsible for copying orders. This part will also be optimized in the future.
6. Is copy trading friendly to contract novices? Who is it suitable for? What are the advantages of copying contracts compared to opening contracts yourself?
Copy trading is more suitable for traders who do not have time to watch the market, do not have time to keep track of industry trends, and traders who are not familiar with contract trading operations.
Contract copying gives you the opportunity to learn the trading strategies of experienced traders, see the trading history and current position data of the person who carries the contract, understand the details of each contract position of the person who carries the contract, learn the currency pair, direction, leverage, margin and other settings of the person who carries the contract, and the phased position allocation strategy, without having to keep an eye on the market yourself.
7. How to select good order carriers? What are the newbie protection settings? What are the fees for using order copying?
Binance Copy Trading provides data display of the traders in multiple dimensions. After the copy function is launched on September 12, traders can choose the traders they trust based on their preferences through the time dimensions of 7 days/30 days/90 days on the project square, as well as the ranking of a series of data indicators such as profit and loss/yield/maximum drawdown/number of followers/asset management scale, and learn the contract trading strategies of the traders with one click.
At the same time, in order to control the risk of copying orders, after selecting a copycat, please set your own copying mode, copying amount, take profit and stop loss, copying multiples, etc. Of course, you can also close the position and exit by ending the copying order.
Accounts that carry orders and follow orders are automatically considered new contract accounts in the first 60 days of registration, and can only open contract orders with a maximum leverage of 20x. There is no additional copying fee except for the normal Binance contract funding rate.
8. Does Binance Copy Trading overlap with Binance’s partner TraderWagon? What are the differences?
There is not complete overlap, but there is a certain degree of complementarity. The detailed functions of Binance Copy Trading have been mentioned before, and currently only some regions are open for internal testing. The copy trading internal testing will be launched on the web version on September 12; the opening of other regions and more copy trading functions are also being scheduled. Please continue to pay attention and look forward to it.
As a broker partnered with Binance, TraderWagon has its own advantages. For example, a TraderWagon trader can open up to 6 trading projects at the same time. It also supports private domain trading and flexible profit sharing percentages.
Traders have different trading backgrounds and order requirements, so everyone can choose what they need based on their personal circumstances.
9. Why is the actual margin used when opening a position lower than the set margin?
The minimum capital required for a trader to open a project is 1,000 USDT. This does not mean that the trader needs to use the entire 1,000 USDT to open an order. In actual operations, experienced traders usually reasonably allocate position margin and project margin balance to facilitate adding positions at the appropriate time, and can also effectively avoid forced liquidation of contract positions.
10. How to control risks for the platform’s order leaders?
First, the copycat can select suitable traders to copy based on different transaction data indicators, and set their own stop-profit and stop-loss to control risks. Then we will continue to pay attention to the risk control of the copycats, and will gradually iterate different risk control measures and indicators in subsequent versions, such as closing the accounts of copycats with malicious order brushing, the conditions for copycats to receive commissions, and the project identification of high-risk copycats.
Copy trading portal: https://www.binancezh.info/zh-CN/copy-trading
More copy trading FAQs: https://www.binance.com/zh-CN/support/faq/copy-trading?c=238&navId=238
Leading activity: https://www.binance.com/zh-CN/activity/marketing-campaign/d0f473e450e946b1b98b3804a660072b
Binance Copy Trade Community: @BinanceFuturesCopyTrade
Risk Warning: Cryptocurrency prices are subject to high market risk and price volatility. The value of your investment may fluctuate, and you may lose your investment amount. You will be solely responsible for your investment decisions, and Binance is not responsible for any possible losses. You should only invest in products that you are familiar with and understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance, and consult an independent financial advisor before making any investment. Trading by following and/or copying or replicating the trades of other traders involves high risks, even when following and/or copying or replicating the best performing traders. Such risks include the risk that you may follow/copy the trading decisions of traders who may be inexperienced/unprofessional, or whose ultimate purpose or intention or financial situation may differ from yours. Past performance is not a reliable indicator of his future performance. The content on the Binance platform does not contain advice or recommendations. This information should not be construed as financial advice. Please refer to Binance Terms of Use and Risk Warning for more details.
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