- Registered users on Binance can now act as both copy and leader traders. When a copy trader chooses to replicate a leader trader’s transactions, the leader trader receives a 10% profit share.
- A spokesperson for the exchange stated, ‘We believe copy trading reduces barriers to entry into the crypto world and can enhance social participation within the community.’
- Binance, which is the world’s largest crypto exchange in terms of trading volume, has also been one of the most controversial exchanges.
Binance, the world’s largest crypto exchange, announced that it has launched copy trading service for futures transactions; All the details!
Binance Launches Copy Trading Feature
Crypto exchange Binance has introduced a copy trading feature for selected pairs of futures products. The purpose of this addition is to simplify the trading process by allowing users to mimic the strategies and portfolios of experienced or ‘leader’ traders.
Registered users on Binance can now act as both copy and leader traders. When a copy trader chooses to replicate a leader trader’s transactions, the leader trader receives a 10% profit share.
Copy traders can follow up to 10 leader traders simultaneously and have the authority to determine their own risk preferences, such as swaps, take-profit/stop-loss, leverage levels, and margin settings, as specified by the exchange.
Click here to safely register to Binance, the world’s largest cryptocurrency exchange.
Binance released a statement emphasizing the potential of the copy trading feature to increase participation within the crypto community. A spokesperson for the exchange stated, ‘We believe copy trading reduces barriers to entry into the crypto world and can enhance social participation within the community.’
Binance Underlines Regulatory Compliance
The exchange refused to comment on which markets the copy trading would encompass. The spokesperson for the exchange emphasized Binance’s commitment to regulatory compliance and continuous review of its product offerings:
‘Binance continually evaluates its product offerings as regulations and regulatory guidance evolve. Therefore, specific products may be available differently in various regions. Copy trading is available in certain markets, and we will continue to review our product offerings to ensure they remain well-received by both users and regulators.’
Binance is the world’s largest crypto exchange in terms of trading volume. However, it has also been one of the most controversial exchanges, having faced regulatory issues in various jurisdictions.
Some regulatory bodies in different countries have expressed concerns that Binance may not have implemented sufficient measures to prevent its platform from being used for illegal financial activities. Binance has repeatedly stated its commitment to meeting all relevant legal and regulatory standards.
The U.S. Securities and Exchange Commission (SEC) previously filed a legal complaint against Binance, alleging that the company offered unregistered securities to U.S. customers through its BNB token and associated BUSD stablecoin.
Additionally, Binance has encountered regulatory challenges in countries such as Canada, the Netherlands, and others, leading the exchange to either limit or completely withdraw its services in these regions.
