Binance Founder CZ said that, Copy trading now live on Binance.

[cryptoWODL]

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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[BitMaxz]

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.

[taufik123]

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

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.

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

[Faisal2202]

I think this news is already shared here a while ago here it is --> https://bitcointalk.org/index.php?topic=5465082.msg62769873#msg62769873 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.

[albert0bsd]

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.

[Bushdark]

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 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.

[taufik123]

-snip-
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.

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

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.

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.

[Palazodeen]

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.

[joniboini]

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.

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.

[poodle63]

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.

[BitMaxz]

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

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.

[Peanutswar]

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.

[jeraldskie11]

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.

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.

[DVlog]

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.

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.

[malcovi2]

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.

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.

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

[yudi09]

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.
Video

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.

[stompix]

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

ROI  -98.47%
PnL  -1,510.23

6/300  Current Copy Traders
11  Total Copy Trader

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.

[OcTradism]

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.

[fullhdpixel]

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.

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.

[jeraldskie11]

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.

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.

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

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