All You Need to Know About BingX Copy Trading Feature

BingX aims to be a crypto platform that caters to everyone regardless of their level of trading experience. For this reason, it has made it easy for novice users to navigate the crypto market through its copy trading feature. But what is it? To learn more about this functionality on BingX, keep reading this article.

BingX Copy Trading Feature

BingX now lets seasoned traders trade for those with little trading experience in exchange for a small commission through its copy trading platform. As a BingX user, you can select more than one experienced trader to trade for you. This helps you to spread the risks associated with crypto trading.

What Must You Do Before You Start Copying Trades?

Researching the traders you want to trade for you is the key to success. The good thing is that BingX provides vital information about the traders, including their trading history, win rate, and drawdown, to help you identify the ideal one.

start trading

Types of Copy Trading on BingX

Copy Trades by Amount

To copy the trades of expert traders by amount, you must set the “Maximum Margin Per Trade.” For instance, if you enter the maximum margin as 20 USDT, you will copy trades using that margin regardless of the margin amount used by the master trader.

Copy Trades by Proportion

In this type of copy trading, you must set what’s called the Unit Standard. Here is an example to help you understand better: If the trader you are following places an order of, let’s say, 1 unit and your Unit Standard is maybe 20 USDT/Unit, then you will copy that order using 20 USDT.

How to Use the BingX Copy Trading Feature

Follow these simple steps to start copying trades on BingX:

Step 1: Download the BingX app and create a trading account.

Step 2: Click the “Copy Trading” button to access the feature.

Step 3: Explore the many experienced traders listed on the BingX copy trading feature and select those you would like to follow.

Step 4: On the selected trader’s profile, hit “Copy” and choose the type of copy trading you want to use.

Step 5: Set the Maximum Margin Per Trade and the amount you want to use to copy trades.

Step 6: Press “Copy” to start following the trades of the experienced trader. You can monitor the progress on your dashboard.

Benefits of BingX Copy Trading Feature

For Followers

  • BingX lists several experienced traders to provide traders with a wide range of options.
  • Novice users can earn profits without prior trading knowledge.
  • BingX provides vital data regarding the traders’ performance to help users make proper decisions.

For Traders

  • Experienced Traders can earn extra income by collecting commissions from their followers.
  • Good performance can help a trader build an excellent reputation.

How to Become a Lead Trader on BingX

So, what does it take to be listed on BingX as a lead trader for users to copy your trades? Firstly, you need to complete the Know Your Customer process and make a 50 USDT deposit. Ensure you have completed over 15 trades in the past three weeks with a win rate of 55% or more. If you meet these requirements, contact the BingX customer support team and submit your application.

Copy Trading Regulations on BingX

Daily Trading Limits

BingX has imposed a cap on the number of trades users can copy daily for each trader they follow. As of October 2023, users can only copy ten trades per day.

Leverage Limits

Lead traders with less than twenty followers have no leverage limits, while for those with over twenty followers, BingX offers them leverage of up to 50x.

How to Manage Followers as a Lead Trader

Here is how you can manage your followers on BingX:

Step 1: On your BingX account, click “Share Trading.”

Step 2: Press “My Followers” to view all BingX users following your trades. You can then remove some if you want to.

As for followers, if you wish to stop copying a trader, go to that trader’s profile and click the “Stop Copying” button.

start trading

Leave a Reply

Your email address will not be published. Required fields are marked *