Binance To Allow Users To Duplicate Strategies of Experienced Traders

Binance is making headlines following the latest move that the important crypto exchange has marked. Check out the latest reports about this below.

Binance cryptocurrency exchange has introduced a new feature called “copy trading” that allows its users to replicate the trading strategies used by top crypto futures traders.

This new feature enables “copy traders” to mimic the real-time futures trading strategies of “lead traders,” as per the exchange’s recent announcement.

The copy traders can review the performance metrics of lead traders and set a specific strategy based on their risk tolerance. The traders can also choose to trade fixed amounts per trade or use a fixed ratio based on their total portfolio.

Lead traders will receive a 10% share of the profit earned by their copy traders and 10% commission on their copy traders’ trading fees. This new feature is expected to enable users to learn from the best and potentially earn higher profits.

Binance CEO, Changpeng Zhao, recently announced a new feature on the social media platform X that allows users to copy the trading strategies of some of the best traders on the exchange.

He also mentioned that the company’s employees are not allowed to engage in futures trading, which eliminates the possibility of traders copying employee strategies.

However, the CEO expressed his willingness to change this policy, as he believes it creates a problem where most of the employees are not familiar with the company’s products.

Therefore, he may consider allowing futures trading for testing purposes with a maximum cap of $10,000.

In is also worth noting that not too long ago, the US Securities and Exchange Commission previously filed a legal complaint against Binance, claiming that it provided unregistered securities to US clients through its BNB token and associated BUSD stablecoin.