In Binance, Spot Copy Trading is a feature that allows you to automatically replicate the spot trades of a professional trader (also called a lead trader). When the lead trader makes a trade (buy or sell) on the spot market, the same trade is executed on your account proportionally.
Key Features of Spot Copy Trading on Binance:
1. Real-time trade copying: Your account mirrors the trades of the lead trader instantly.
2. Proportional trading: If you invest $100 and the lead trader invests $1,000, your trades are executed at 10% of their size.
3. Manual control: You can stop copying or close positions manually at any time.
4. Transparency: You can view the trader’s history, performance, and strategies before following them.
5. Profit-sharing: Typically, lead traders receive a commission (e.g., a % of profits you earn by copying them).
How to Start Spot Copy Trading on Binance:
1. Go to the Copy Trading section on the Binance app or website.
2. Choose a lead trader based on their performance and strategy.
3. Allocate funds and start copying.
4. Monitor your performance and adjust settings as needed.
