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Binance Expands Automated Strategy Trading Tools, Announces Spot Copy Trading

Binance, the leading blockchain ecosystem behind the world’s largest crypto exchange by trading volume, today announced the launch of its highly-anticipated spot copy trading strategy tool. The feature is now available for experienced users who meet minimum portfolio asset size requirements to register as lead traders, and it will be rolled out fully for all users in May 2024. 

The launch of spot copy trading further increases Binance’s diverse and popular offering of automated spot strategy trading tools, which includes Spot Grid Trading, Dollar-Cost Averaging (DCA) and Rebalancing Bot. Benefits of using automated trading tools such as spot copy trading include:

  • 24/7 coverage: Automated trading tools allow the user better control over how they choose to participate in the crypto market which trades 24 hours and seven days a week.
  • Speed and efficiency: Once a user has set their trading strategies and parameters, automated trading tools can process vast amounts of market data and execute orders within milliseconds, beyond what the individual user can otherwise do by themself. 
  • Removes emotions from decision-making: Automated trading tools help the user to avoid emotional or impulsive trading as it operates according to predetermined trading strategies and parameters. 
  • Diversification and risk management: With an continuously growing range of automated trading tools, users have more diversification and risk management strategy tools at their disposal.

Copy trading allows users to follow and automatically execute the same trades as those of the lead traders, enabling copy traders to leverage other users’ experiences, trading techniques and risk management strategies. Lead traders can monetize their expertise when they make their portfolio available for copy trading. 

Rohit Wad, Chief Technology Officer at Binance, shared: “At Binance, we’re always listening to our users and incorporating their feedback into our products. Our users give us great ideas because, very often, they know what works best for them. Spot copy trading is one such idea that came from community feedback. This is a great tool that automates trading for our users, and gives them the ability to try new trading strategies.

Binance first launched copy trading for its highly liquid futures products in selected regions in October 2023. In markets where both spot and futures copy trading are available, users will have even greater flexibility in how they manage their trading strategies and overall portfolio. 

Users on Binance can simultaneously become lead and copy traders. Each user can have one lead trader account and copy up to ten lead trader portfolios. Lead traders receive 10 percent profit share and 10 percent trading commission rebate from copy traders who replicate their trades. Copy traders can review the lead traders’ performance metrics such as profit & loss record, and choose the ones that they want to follow while setting their own risk controls. 

Binance spot copy trading benefits for lead traders include:

  • Ease of Use: Simple to sign up with no lengthy registration required.
  • Revenue Sharing: 10% profit share and 10% commission rebate from followers.
  • Largest User Base: Millions of potential copy traders to engage with.
  • Regular Payouts: Payouts are sent weekly.

Binance spot copy trading benefits for copy traders include:

  • Ease of Use: User-friendly interface makes copy trading easy. 
  • Learning: Leverage experience of lead traders to learn about trading strategies.
  • Transparent: Lead trader performance metrics are readily available.
  • Highly accessible: Market-competitive fee structure makes trading accessible. 

Availability on the Binance app will be introduced gradually and Binance invites lead traders to start building up their portfolios and participate in a Lead Trading Tournament that will run from April 24 to May 8, 2024.