Binance has launched a new “copy trade” feature that gives its users the ability to replicate strategies employed by top cryptocurrency futures traders.
“Copy traders” can now imitate the real-time futures trading strategies of “lead traders,” according to a new exchange announcement.
Copy traders will be able to review the performance metrics of top traders and establish a specific strategy based on their risk tolerance. They will also be able to trade fixed amounts per trade or use a fixed ratio based on their total portfolio.
Lead traders will receive 10% of the profits made by their copy traders and a 10% commission on their copy traders’ trading fees.
Binance CEO Changpeng Zhao teased the new feature on the social media platform. He also noted that exchange employees are prohibited from trading futures, eliminating the possibility of traders imitating employees’ strategies.