Topic: Binance Founder CZ said that, Copy trading now live on Binance. (Read 594 times)

If you have a good trader giving you signals of price expansion then you wouldn't be completely saying this. Its just a means to get small funds online. 
Daily,  with the right price signals,  you can make 91$ 60$ and also 34$.
Some traders specialise on it and then make daily living from copy trading. It is no means to grow wealth. Knowledge is indeed power,  with the right information and risks management this can be learnt and achieved.

Yes, that's right, but you have to be careful not to get Haram up in the shit again. I will never become a Muslim. But I agree with you, because for those who do not understand at all, copy trading is okay, but for those who have some experience, it is better not to trade copies, because experienced and unexperienced people are more likely to lose if they copy their trades. I told you I don't like copy trading.

copy trading is not a feature for those who want to gain experience or improve their trading skills. I have done copy trading on other exchanges, it just requires how you look for traders who have good skills. and you can follow the trades. Usually, several communities on Telegram or streamers create their accounts on the exchange so that members who follow them can copy the trades they make.
actually, it's not all bad. there are benefits for certain people. but maybe for those who don't like it, you can of course avoid copy trading.

I don't like copy trading. Copy trading is more likely to be a loss because the person you are copying may not be experienced. You don't even know if you're going to sell your copy or not. You must seek the fate of others. If you want to trade, trade your own experience. You will never be able to increase your experience by copying others trades.

As much as others would see this as good news ,I honestly don't like it because it will make newbie traders lazy in the long run and not accord others the opportunity to learn the art of trading on their own!!!

Unless this is meant to benefit Binance by way of commissions or more users using this feature and joining the exchange , whatever the case this works in their favour.

Interesting, is it possible that this was a case of middleman wanting more/better commissions or the intergration of TraderWagon simply just failed to work and moved to a more reliable option.

Now your comments are rare, because they reflect an actual trader with real experiences!!

I'm actually very inexperienced trading crypto but I spent years doing forex 10 years before I even started a CEX for crypto but nothing changed. The tactics of signals, the paid strategies, the "new" features are not new. Everything I saw in forex is as you said:
- newbie accounts filling up reputation.
- selective trades without showing volume or amount fill up "win" percentage
- additionally in crypto, fake token pairs trading between themselves

I got burnt badly before, so people think I'm just a negative guy in trading but if even one newbie pays attention and doesn't buy into these scams, I'm glad

Relying on one's own abilities is the best, I like that. When many people only focus on finding the best User Copy Trade, they forget how to trade well, learn technical and fundamental analysis and train their emotions.
it is no longer done when they are interested in copytrade and do not have enough knowledge to trade. When copy trading fails, no one will be held responsible, it is a risk caused by other people, not yourself. will regret it in the end.

Although I am no stranger when it comes to copy trading, it seems I could finally give this a shot with Binance. I've done copy trading before in BitYard and Prime XBT respectively. But I just stopped because the profit that I've been getting isn't that much really.

Some of my favorite pro traders that I've copied back then have vanished and setting limitations on how many can copy for each pro trader in the list. I haven't done any copy trading activity since 2021, but Binance might be the reason for me to come back and try copy trading again.

Absolutely no problem, I am also happy about late feedback to my postings

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Ah, sweet memories ... At the beginning of 2017 I had a Bitcoin savings plan where I bought 100€ Bitcoin at the beginning of each month. At the beginning of 2017 this was still very lucrative (at least in my opinion back then). Then in May I stopped the savings plan (BTC was around $2000 at the time) because I just couldn't live with the fact that I could buy less than 0.1 BTC with my 100 €. That's how you can be deceived.

But I see it the same way as you do: A very good trader shows his strengths especially in a bear market. To shine in a bull with xxx% profits is absolutely no achievement and can be achieved by every Hodler when he bets on the right altcoins, in the last bull for example SOL, AVAX or Cardano (ADA). Through clever trades (I also count one-time sales) you could actually manage to keep your btc stock from 2021 until today ... I unfortunately didnt, but this is mainly due to my altcoins in the portfolio and less because of failed trades (ok, at least a bit ).

Thanks for the whole guide on where to find it but in my app, even if it is updated to the latest version there is no tab for copy trading.
My country is not listed there so copy trading is not yet available in my region.
They said they are planning to add more countries but I don't know when they gonna add my country.

I seriously need to check my bookmarks more often


2017 was the year in which if you had bought in January and sold in December you would have gained 13x just by holding.
I would be more interested in somebody who made money in $ term in a period like 2022, including his holdings, I always said that a true trader is one that manages during a bear market to keep all his assets at least to the same value. So if you have made 2BTC in that period but your total asset worth has dropped day half, from 10BTC worth 400k you now have 12BTC worth 240k then you're not a good trader at all.


I expect manipulation to be on a rampage there too.
Accounts filling themselves half with newbies' accounts to gain trust, playing with highly manipulated shady tokens to get the tempting % return only to out of the blue screw all the user base by dumping some pair into the groud or pumping some low-value token at the right time to close some position on a different exchange.
10 accounts filling 1/3 of their limit would mean 1000 accounts, trick them into playing ~1000 and you can at the right time with the right average make x10 times more.

Of course, it takes time, it takes money, it takes knowledge but just wait!

Now leaving the manipulation and scamming aside, what's the protection in case your trader has a nervous breakdown cause his girlfriend left him and he, full of anger says screw that and opens intentionally some money-losing pairs and positions?


So drug dealers, just saying !

Nice information you got there mate. I didn't new that size of the capital matters too when it comes to copy trading. I don't know if this is also possible but I'm thinking that the trader that we follow can intentionally make a bad trade for the people who depend on their backs lose. There may be a benefit for doing this. It's some kind of a manipulation.

I guess these reasons are now enough to scare someone of doing copy trades. It is still better if we can only depend on our own ability. Other than being safe from a lot of risks, we can also be proud our selves no matter what the results are but especially if the results are positive, because we are getting close to mastering trading.

I bet many traders that will start sharing of their trading activity on Binance, will be bots and prioritize BNB coin. Implementing of copy-trading on Binance is a smart choice to benefit the liquidity provider with increased profit because I genuinely believe, top traders will trade on Futures with significantly high leverage and over time, many copy-traders will get liquidated. Seems, eToro advertisements have done a great job to promote copy trading and right now Binance will hire these Tiktokers that will bring a lot of copy-trading customers to their platform. Isn't it a good idea to become a liquidity provider on Binance?

I have to admit that CZ is a very smart individual, he knows what likes people, he knows their psychology, he knows how to make money, he knows what he does!

Very nice analysis, we must remember that an exchange is at its core just like any business and its owners would like for their clients to spend more money and to do so as fast as possible.

Copy trading gives those that decide to use it a false sense of security, so they will be willing to take a higher level of risk and it could encourage people that may have never traded to do so through this feature, increasing the profits of the exchange in the process.

My personal opinion here is relatively simple:

• A large part of the advertised copy traders are bots that are actually provided by the platform (i.e. Binance, for example) and simply serve to get clients to invest more.
• You won't find professional traders there, they earn much more with their quotes, Youtube channels and so on
• So if "real people" can be found in Copy Trading, they are usually lucky people who were able to make high profits with a x100 leverage. But we all know that this has more to do with gambling than with professional trading

Conclusion: Copy Trading is a great entertainment for in between, but you should never see this as a serious investment strategy.

But at the same time I am not sure if copy trading is at all suitable to manipulate the market. This would be much easier with an armade of bots that Binance releases directly. [/list]

Copy trade strategies can work for a while but the market is not static by dynamic and can change its momentum, direction quickly. Users of copy trade strategies don't use their own knowledge and skills to do their trades and mostly rely on copy trade strategies to automate their trades. As consequences of such terrible dependence, they will not be able to detect signals of upcoming market turnovers so they will continue to let the Copy Trade script to do trading works for them.

Without ability to smell risk in the market, without discipline to exit the market and change from trading mode to watching mode, they will lose money with Copy Trade Scripts.

You brought an excellent point. I consider Copy Trade Scripts is like one type of market manipulation but I don't consider it as a worst you will get from those scripts. Using them and being more and more dependent in your thinking and action is more terrible, the worst.

I am afraid. While this could be a good feature to make money money beginners and for the pro traders as well, this might be a trap for everyone. You never know whose trading pattern you are copying. You never know if that trader was hired by the platform. This copy trading enables a great way to manipulate that market. You may ask why so negative. Well, there are both sides. Some traders may get some profit, and others may lose.

Just Imagine you have copied a trader who made some big profit earlier and decided to trade again. But luck wasn't with him and his balance was liquidated and you lost everything with him. Who is to blame actually?

its basically just following the path of veteran trader, but even that is such a massive game changer if the veteran trader that we are following are really a veteran trader that we imagined, basically having good amount of experience their decision would be accurate, in change for giving some share of profit, so long we are keep getting profit from each trades that already good enough.
but in reality we might copy trading of other so called veteran trader that aren't really good at doing their job.
therefore we might instead incur loss, its all about finding the right trader to follow I guess.
after all not all veteran trader out there are really adept and what they're doing.

This is a new feature for loyal customers of Binance and trading junkies. I just went through my binance app and discover that they're running a couple of promotions for copy trading. One of the advantages of copy trading and start it is almost like having a signal group but even way better. You still need to get educated on how it works.

Updating the app is a must to unlock the new feature, and this one is working good on my end.
The target also is to look for a more successful trader and see how they made such profit in trading, this kind of feature is a game changer for every trader who are looking for this kind of option. Does anyone here tried and succeed already with a good profit? Do you still analyze or you fully depend on their strategy?

I was trying to think through how this copy trading will affect other traders and how lazy some people will be do common assignment and learn some basic tips of trading and what happened over Blackrock fake ETF approvals comes to my mind. How will copy traders deal with such situations that happened like that day. Imagine following a trade idea of shorts market that were liquidated, who bears such responsibilities? This will not end well for any lazy person that decide to pick this as means of making money from trading than their over their own analysis.

Binance is ahead of other exchange, I expect to see other exchange integrate this to their exchange soon just so they don't loss customer to CZ. However, the action twist behind this is for Binance to have more liquidity that any other exchanges. Bull run is coming, many people had left Binance due to some reasons like making FTX to collapse and also internal investigations. Binance is trying to established simple platforms to get back users into their exchange to have all the shares in crypto.

I think the idea is to get the people who claim to be good traders to prove themselves, not that you would follow them. If you are not paying someone to make you more money, then you do not have to worry about this, neither do I, because we are not paying people to give us information on what to trade at this moment right? If that's so, why would we follow anyone else's trades?

It doesn't really make sense to give our income shared with them when they could very well end up losing. No, this was created so that people that are selling their bots, their signals and all that or even influencers who tell people to buy this or that, they could all start a leading position and tell people to follow, if they don't then why would I trust them, if they do, then we can see if they are good or not.

This is all because of that, just to make sure that people who lie about being a good trader to be shown how fraud they are with the proof that they suck at copy trading.

Try updating the app dude. If you ask me then I can see this feature on my ios app. But when I log in into the desktop version, I am unable to find this feature. Nevermind, this feature seems interesting and Binance has really done a smart move to attract more traders. Now people will follow big traders and will automatically copy their trades. Just need to find the id of big and successful traders to start copying them. Already invested some amount in a random trader’s trades. Let’s see how far it goes.

Exactly!

What kind of guarantee do you have that the trader you are copying is not a muppet or a Turing-complete brokerage program? In that sort of case, you're usually screwed.

I have never liked the idea of all these blokes coming in and trading without proper training in this field, because the inexperienced people will always lose money (no exception).

"Leverage" is a good keyword here. In order for someone to follow you, you have to achieve correspondingly high percentages of profit. This usually only works with very high leverage, e.g. x100 ... but in return this also means that you have to invest a lot of money/BTC/... if the trade fails.

The idea with the additional, free income, sounds very tempting at first, but you also have to keep in mind what is behind it to get "followers" at all. I think this is very difficult, especially for traders who only trade from time to time.

I am telling you so simply, you will understand this post of mine bro.
I have done the post about Copy Trading long ago but today I will discuss with you in detail about Copy Trading. How to do copy trading and in which country is it legal?
If you have Binance exchange app then first go to play store and update it to new version. Then you will come to your account and click on the future button.
Then you will see in the right corner of your account there is a text called Copy Trading. You click there.
If you click on Copy Trading, such an interface will appear in front of you. Suppose you want to copy trade with this trader in the picture I showed. But let's say one thing that you have to pay 10 percent of the 100 percent of the copy trade with whom or with any user. That means you will get 90 percent. If you want to do copy trading with any user then click copy text as shown in the picture.
When you click on copy text you will see a page like this. Then you can place your desired amount there and trade.
But if this copy trading is legal in the country you are from then you can do it freely. And if it is not valid in your country, then when you click on Copy, you will see this.

However, I am publishing a list of countries where this copy trading is legal.
Check list

I am giving a video link for your understanding which will help you to know more about this trading.

Video link

Getting this type of "affiliate income" sort of thing would be great for traders. Not only you are trading to make money, but if anyone follows you then you are making money that way as well, you are leveraging your spot trading which is awesome. Not like they could lose anything, if you trade and people follow and you lose, you only lose what you lose, what others lose do not matter to you at all, and if they earn you get some of it, which is great.

For the followers, I still do not suggest copy trading because following others to make trades do not make sense, you should always learn how to make a trade yourself and would be a lot better as well. If you learn how to do it yourself then you are going to be able to trade a lot better and then you will not be forced to depend on others.

It seems they are now the same with Bybit now. Because before Binance was just using another 3rd party copy trader platform called TraderWagon.
With this new update of Binance, I am afraid that TraderWagon will lost a lot of users as for me, they only became famous because of their integration with Binance.

Even highly skilled traders can't predict future so following someone who seems to be strong in chart and technical analysis along with money management can lead to get some losses. The only big difference is that you will be able to limit your losses thank to his skills and risk management. But if you can do better profits with a noob trader just because he is currently lucky by undergoing a long winning streak.

It's only available to certain countries. It's kinda weird that you can use the future trading but the copy trading isn't.

My Binance app is up-to-date and already set to Binance Pro but I don't have copy trading tab on my account.
I also tried to switch to the lite version and go back to Pro but still no copy trade.

Maybe I'm not lucky to have this feature and maybe it's only available to those who have big funds in their wallet?

So, these educators that are teaching on how to be good traders, show yourselves through this feature of Binance.
People are going to follow you if you've got some good stats and you get a commission if they're giving that commission for successful trades.
For non traders, you can it if you want but your results will vary on how good the trader you'll be copying with so do it with caution.

The amount of money that someone could make from this is definitely not that bad. I mean you are getting %10 profit share, which means that if the people who follows you makes a profit, you take 10% of their profit, this means if they deal with 1 million dollars and make a million dollars in profit, you get 100k in profit. Obviously nobody will use copy trading with a million dollars, but if all the people that follows you reaches that level, then you could definitely do some good bucks from there.

I believe that people who claim to have signal groups, who think they can trade, who say they have bots, all these people should get together and start a lead position. I mean if you really think that you could make me that much money, open a copy trading account and prove it to me. If you are really good, and you ask us to pay you, then we should be able to see it and you would be able to make profit from it as well so you are not doing it for free neither. I get that there is nothing that could hurt anyone who has a good confidence, that means that you should be able to make a huge return from this and definitely could be doing something that will benefit people on the long run.

I believe that we are going to make some profit from it and that doesn't mean that we can't follow people. Look at the list and if you think that you found someone with a good return, follow them and see if they are making good return and if they are making a good return that will mean that you could copy trade their moves and could get some great results.

First of all, I don't like the idea of copy trading and secondly doing that on a centralized platform is a no-no. Why I don't like copy trading is because you are copying other's work. In this process, you may win or lose. But the main issue here is that you are learning nothing. Maybe it's a cheat code or something useful to get quick money, but how long will it last? Other platforms have been providing this for a long time but I have never bothered to use them.
World's leading crypto exchange platform or not, it is centralized. So keeping your money and giving the access to your assets to that platform doesn't seem right. Protect your privacy protect yourself and protect your assets. Doesn't matter how juicy the offer is, that should always be some strings attached to it. If you want to try it, try it on your own risk. But I won't recommend something like this.

Did a quick search on the major exchanges that supports copy trading. I think this will help a source from Coinbureau

 https://www.coinbureau.com/review/bitget-copy-trading-review/

I think it's going to be worse than that. Traders will open 10 accounts, go for riskiest returns on tiny amounts (or even wash trade between themselves to sacrifice bankroll on alts to get huge profits). Post these 100% weekly gains. Hypnotize the sheep and rake in the commissions. If he profits even 10% people will stay. If he loses, people will also stay waiting for the 100% to hit again

Like what I've said on my old post about this topic.

Copy trading is also a high risk high reward kind of thing, because if your fund didn't match to the fund of the trader you copy and his trade is with a cross margin, there's a chance you'll be bankrupt if you're not aware of such thing. Also, not all of the trades of the trader you will follow will give you profit every single time, so there's also a chance that you're gonna lose more than make a profit since your funds is much smaller to the trader you copy.

Binance are exchanges don’t have much liquidity as they used to in the last 2 years, copy trading is just one of the smart move CZ and other exchanges are trying to use to bring back people to the exchange. Remember last year December when people were reporting exchange of not having customers fund and despite the report of proof of reserves, many withdraw there coins just to be safe, copy trading is only another vehicle for distraction, nothing dazzling about the copy trading feature.

People don't know how something work, they will not ask, they will rush and do it, it's after they failed you see testimonies and outcries of scam, copy trading is the same thing. People are lazy if not, why will you copy another traders idea and set up just to think they are experts, even experts makes mistakes and the funny move about the copy trading is that, a mistake from a particular trader will result in plenty of traders losing money as well, the exchange take their trading fees and you are left with nothing.

My country is not listed in the list you provided, and I was able to see the copy trading tab in the future section of my Binance app.

Maybe you will consider updating your Binance application, or if you are operating on the Binance Lite section of the Binance app, you should consider switching to Binance Pro; that's where I found the copy trading tab.

Trading isn't that hard? Did you tried trading already that you can say this words? If you did, are you a successful one? If yes then congratulations... I guess.

Trading in general is already hard, so some investors who are hoping to earn money by doing little to no work will try this copy trading. I didn't try doing this at all, and right now I don't want to especially after experiencing consecutive losses in trading. Trading in the spot market is still difficult, completely opposite on what you said that it's not that hard. It's almost the same as futures, but the only difference is, the risk is higher in futures because of leverage, but both of them are still difficult especially when you're a newbie.

Overall, with how many users Binance has currently, and with how attractive copy-trading is for others, I'm pretty sure that there are many who will try this one. I'm still waiting for the results of some people who tried doing it. Maybe I'll wait for a couple months.

In my early trader days I was myself active on a copytrading platform (1Broker, which unfortunately does no longer exist).
Almost all successful traders there bet on BTC/USD. These traders rely on very high leverage so that these high profit percentages can be achieved. As a result, 2-5% became 20 to 50% relatively quickly ... or -20 to -50% ... which unfortunately happened quite often.

The traders were also awarded a certain percentage of the profits of their followers on this platform, but the minimum stake of a trade was very high at 0.25 BTC at that time (~2017), so that only people who owned a lot of BTC were actually active there.

I have already seen this feature on Binance exchange but I didn't find it so attractive or safe. I am never interested in trading depending on others, I want to trade using the best I know, I don't think it is a problem whether I lose money or gain. People who have their own ideas about trading will never use this copy trading to manage their own trading. Those people are mostly taking advantage of this feature who trade according to signals or who depend on others for trading or who do not have good knowledge about trading. If people who do not know about trading trade with the benefit of this feature I think they are doing stupid because they are more likely to lose than gain from this.

One thing that may give beginners an advantage regarding the copy trading available on Binance as it will help them understand and follow some traders who have good skills can definitely hone their skills. Instead of following unclear copy trading that offers itself in groups and other social media channels, I am sure Binance has considered it carefully before adding copy trading to their services. This exchange is big and they definitely don't want to do something that could bring their good name into ruin.

That is a wise decision and even though they follow copy trading, separate analysis should also be carried out in order to gain knowledge and learn to understand trading well. Otherwise, it will give an impression in the trades they make and in the end they will never gain experience if they do not carry out their own studies and analysis.

Well, they'll surely have to but Binance doesn't earn on that they earn through fees generated on their platform not the numbers of those lead traders or who does this copy trading. No, I hope that they pick the right trader they want to follow or to copy and not just blindly pick a random one. Copy trading is not bad even in traditional market it is being done. I advise follow those traders that will educate you along the way, not just because they post some random shit TA without even an explanation.

It's 10% of the profits, it's not much considering you're basically doing nothing and if it weren't like this why would any trader offer to have others copy his trading when this is actually hindering his own trades if he deals with low volume stuff as I'm pretty sure nobody is going to follow people who do eth/btc/usd with returns of 2-5%, everyone will get hypnotized by 50% a week and then get recked!


If trading isn't that hard why isn't everyone here already a millionaire and still doing bounty things and posting a thousand twitter links that take him more time than doing 100 trades? For every truly successful trader, you have hundreds who have just a ton of losses in their history.
Furthermore, if everybody were able to predict the market then we would have no trading at all, nobody is bet on the date of the election but on the result, if the results were already known nobody would bet and nobody would vote at all which would result in.......see how this goes?

Its important to know which are those traders are good to follow since if you only look for one trader only and see his result then maybe you cannot see the whole potential and provably lose with him if shit things happen that's why its good to look for multiple guys offering their service their to know if they are really good and eligible on our criteria to be the trader to trust with. I remember E-toro offering the same service and let see if this will bring good to binance also to users who's lazy on trades then want to ride with people who are good with this.

Also if they want to learn from those guys maybe they should follow every trades they made and analyze their decision making but if they are just their open the platform to see the possible result of their copied trade maybe they will not learn anything because they don't get any knowledge on what those people doing.

I don't have good trading skills, but what I know is that copy trading will encourage people who don't have the skills experience losses when doing it. The reason is because they follow the wrong people without first analyzing people who have credibility in carrying out trading. There are many advantages and disadvantages to following pseudo influencer trading, although many people say this can help novice traders who don't have time to observe the market, but relying completely on pseudo influencer trading is not the right choice.

To gain trading skills and expertise, it is not a problem to follow people who are more experienced, but it is a good idea for beginners to try to make their own analysis of the people they follow and use the small capital first to learn. As they gain experience they can adjust it to the amount they want to trade responsibly.

I'm a verified user but still, I couldn't find the copy trader tab on my Binance app.
I searched a bit they have a list of supported countries that have this feature copy trader my country is not listed there so that's the reason why I don't have this feature.

Here's the list for those who dom't know yet
- https://www.binance.com/en/support/faq/binance-futures-copy-trading-service-list-d898460abbd14bd8aab54954ca0d606a

After I checked it I found it in the futures tab section and there is a new tab on the top right "Copy Trading" with a "new" mark.

What version are you using now?
Because I am on version 2.72.5.



Only verified users in eligible regions will be entitled to access Copy Trading
and participate in Educational Missions to earn rewards.
https://www.binance.me/id/support/announcement/binance-futures-meluncurkan-fitur-copy-trading-ef9c6f27dbee4cd78bb2738380889461

Maybe that's what you mean, but that rule existed when copy trading first started and was used as a challenge to earn rewards.
Maybe you are not verified or in a country where it is not allowed.

Yups, Binance as the largest and most popular Exchange has a very large liquidity and this makes Binance always provide new features that may have previously existed on other exchanges.
But when binance has issued a new feature this will be more hype.

This could be a good start for those who are still learning how to trade, but of course there is still risk and Binance will not include this option if they think that copy trading will make trading more profitable because if they do their binance will not earn money anymore. I hope that those who will use copy trading will still learn the basic information about trading, this is how it should be done and take the process slowly but surely.

I think for some this is a good addition but others will also fail to recognize it. Nevertheless, it will just get better I hope with these kind of additions to Binance. Copy trading isn't that bad as long as you follow the right individuals to copy. It's best for beginners and that depends on how they market it now.

I was expecting something better from Binance, but until now I haven't explored the copy trading option in Binance maybe because of the regional restrictions or lunching phases, etc. I will give it a try but I made some bold comments on the copy trading strategy in the pas few months because I had encountered many failure stories in my locality with this strategy and I have a pre-build view of how it works and ruins the trading career of manies.

Copy trading is good for testing, educational, and comparison purposes a really good and considerable strategy, even with luck some of many can make money out of it, but its like fast food not good for your health. Better to focus on skill development and not waste time on such stupidities.

Often times I blame the followers who followed this traders because their are indicators that needs to be used to get a good traders to follow but unfortunately they don't dyor. Checking ROI, AUM, Number of followers and other factors will determine if a trader is worthy to be followed but most people don't do that. They just conceive the idea or hear it from someone that copy trading is profitable and the next minutes they are already following some traders. Of course exchanges have their own share of the blame because they are supposed to have a mechanism to blacklist elite traders performing poorly hence making some investors lose money.

10% per successful trade looks outrageous if that's true. Well I have had to copy other traders a couple of times on other exchanges and the commission isn't this high. Trading isn't that hard agreed but that applies to only spot traders. Trading futures is very difficult I must tell you and that's where the money really is hence the reason to copy other pro especially in the bear market like this where price volatility is quiet crazy. In a normal bull market, not many people explore the copy trading features because they know the market direction. With Binance introduction of the features, let's see if it will beat the record of the current largest copy trading platform.

True, and one thing we have to consider is that not all traders who have good PnL are good for copy trade because some of them are just not consistent. It makes sense that we should have criteria of choosing a lead trader. One of those is what is followed by the majority, that mostly there is no available slot so it is good to copytrade. The other one is that those whose PnL is upward sloping since when they started, and not those impulsive up move and not consistent. DYOR

I'm generally not a fan of copy-trading and have never done it nor did any research or checked the commissions and everything on any exchange platform, and Binance is charging 10% commission on every successful trade, isn't that a lot? This is exactly the reason why I believe one should always do their trades themselves instead of copying someone else and giving a very big chunk of the profits to the platform which will eventually make you lose money just like how the house edge in a casino platform eats up your profit in the long-term.

Trading is not as difficult as some might think of it, and anyone that has the basic knowledge and can read and understand things and grasp ideas easily can learn everything they need to become a successful trader. After the knowledge, it's all about patience and dedication, and you won't need to copy someone else's trades.

This is just can you believe these figures?

Gen Z dominates crypto copy trading space. It says 93% of futures traders and 82% of spot traders make profit with copy trading.

Can you believe it because those figures are simply too good to be true?

It is opposite with what we know about successful rate in trading when 90% of traders fail and lose money. Logically, given numbers of successful copy-trading traders are like sponsored numbers by exchanges and I can not trust them.

So , in this situation where we have some data like:

ROI  -98.47%
PnL  -1,510.23


What does the 6 and 11 mean?
11 is traders who have banged their head against the wall and 6 is the number of traders that are still banging their heads against the wall?

God forbid we have another bearish period, this will be mainly used by people who know their limits and are afraid to try trading so they see some green numbers while the sum are going up even with actual trading skills on those profiles and will let Binance and those guys play with their money! Of course, Binance is happy as it's more fees and more volume, but some are going to pay a lot for this.

I wonder how long it will take before some will try to gain positions in this by playing with heavily manipulated low-volume coins and tricking people into sponsoring their pump and dump moves.

I thought it was an automatic investment feature, but it turns out copy trading is located in the future section and the copy trading feature is located next to the trading bot menu on the Binance application on Android.

When it comes to the automatic investments available on Binance, they offer the dollar cost averaging (DCA) method. Furthermore, in Binance's automatic investment feature, they offer users the ability to set plans to buy crypto at any time with daily, week to month targets.
Meanwhile, for copy trading, I've just seen how it looks but I haven't tried it yet.

You can check their PNL but the problem is most of these traders have a huge balance to cover big losses.

I think other exchanges also share a similar business model. The only advantages i see binance having are massive liquidity and a huge community from all over the world. It is obvious why binance has the biggest copy traders in the crypto industry. Binance wants to keep its competitive nature despite the fud about them and they are trying to provide all the services a user needs.

Many of the influencers do not know how to trade, so how will they know which lead trader to copy trade if they themselves do not know how to trade. That's why newbie traders are so pitiful because of them. Beginners follow influencers to learn and get guidance but there are influencers who take advantage of the benefits they get from their followers, which result a negative impact in them on how they see crypto. That's why we can't just rely on them for our crypto learnings, we should also know how to do our own research to avoid this kind of incident.

I guess Binance must be early to have this feature to their active traders but well yeah its on the current updates of the  Binance they even changed some of the UI in their mobile so there's a big update, but in the mobile you didn't too much notice because its the end of the header navigation of their application,  this seems to be a great news because there's a lot of people want to trade but don't have enough time but feels sad this feature is not currently supported in my country, only limited. You can check it out guys when you click the copy button once you see this feature.

Have you seen these features in your Binance app?

I tried to check the futures tab but I can't find it even though I updated the Binance app to the latest version I can't still find the copy trading features. According to the announcement the copy trading features are only available to selected users only.

I always have my share of doubt towards these copy trading reading reviews everywhere there's positive and negative reviews but more prominent negative that talks about how these copy trading will eventually results in demise or losing money.
I'd say lets see how binance can deal with such issue and see whether the copy trading in binance is actually that great, it can be really effective for those that are newbies and want to delve into copy trading but it could also be problematic.
I personally haven't even tried copy trading but seeing its in binance guess I'd try myself.

Are you referring to copy trade on some platforms, or just people following influencer calls on social media? If it is the latter, I wouldn't be surprised. Pump and dump is not new, and sadly a lot of people still fall for this trick due to fomo. If it is the former, then some blame lies on the follower since most platforms show the trader's track record. It is quite naive to think that the platform is wrong when they choose a risky trader. If the platform doesn't show any risk profile, then people should stop using them. If Binance doesn't have a feature like that, I don't think they will last long since people can blindly choose a trader without knowing how terrible their calls are.

Binance introduction of copy trading is a welcome development because the product has proved to be effective on other top cex especially Bitget. In as much as the product looks cool, it's important those copying other traders do their own research because they may end up incurring a serious loss.

yes, I saw it, I wasn't careful enough and there is indeed a Futures tab and it is "New".

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Responding to the phenomenon of copy trading, actually this is a feature that does make it easier to trade,
only need to copy or follow other professional traders then it will automatically trade according to who will be selected.

There are many pros and cons of using copy trading,
but this feature is mostly used for beginners who do not have 24 hours to watch the market and those who cannot make good decisions.
Trading emotions can be avoided because it only copies the positions of other traders.

It's a good idea before copying, to research whether the person you're following has a good portfolio or not.
There are points that determine whether the trader is recommended or not.

But certainly always relying on copy trading is not good, learning to trade manually and analyzing by yourself is the best in order to gain appropriate trading skills and expertise.

I still don't know why some persons see copy trading as a breakthrough for themselves since they don't really know how to trade and earn some funds for themselves. I had tried copy trading many times and sometimes I end up losing money looking at the capital those big influencers are using to trade in the market and comparing it with what you are using.

Market volatility casue one to lose money from the if care is not taken especially if we are trading with a very small amount of capital. I would prefer us to try to learn and understand trading than to go for copy trading which can be very addictive and not profitable in a long run. Many exchanges are making big profits from copy trading in case we don't know.

I don't know much about copy trading, but the latest news that I hear about it is people losing their money because they follow some pseudo-influencer. Obviously this was driven by an unskilled person. and by people who wants to be rich over-night.

Unless you know who are you following and what is he doing i don't recomen copy trading.

I think this news is already shared here a while ago here it is --> https://bitcointalksearch.org/topic/m.62769873 This was the first thread where I came to realize that Binance doesn't have a copy trading feature because till then I thought they do have copy trading, well just to clear the doubts of BitMaxz and taufik123 of not availing the option of Copy trading on Android version. It is available on my side maybe it is due to the difference of region but just to clarify.



We have to see it in the Future trade option. This feature would be of great use to all of us, especially for the newbies.

Although copy trading is a well-established strategy on other exchanges,
Binance seems to have some advantages and benefits for members who join as lead traders or as copy traders.

Lead traders can receive a 10% profit share from their copy traders.
The remaining 90% goes to their copy traders. In addition, they receive a 10% commission on their copy traders' trading fees.

Can have 1 lead trading portfolio and 10 portfolios for copy trading simultaneously

Binance system will add a "High Risk" tag to the portfolio if the maximum leverage reaches or exceeds 10x in the last 7 days.

To earn another commission, you can use the Biancne Referral program for Leda or Cipy Trading.
The more you invite, the more bonuses you get.



Source:
https://www.binance.com/id/support/faq/pertanyaan-umum-tentang-copy-trading-binance-futures-6ed0995daf0b42d5816beaf1e31ca09d

It seems that it is not available yet, and the Binance App on Android also has not been updated since the last update on October 6.
May still have to wait for a while
I only found it on the website version

I tried to check on mobile but I couldn't find this copy trading feature on Binance mobile is this only available on desktop?

I found the announcement about copy trading it seems it is not currently available to some users only selected customers can able to use copy trading.

CZ announced that the automated copy trading module has already started on Binance (BNB), the world's leading crypto exchange. Binance CEO and founder Changpeng "CZ" Zhao announced this upgrade on October 9, 2023, on his X account. A 22-second video has been made on his official X account about this, you can watch it if you want.
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