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

[tjtonmoy]

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.

[el kaka22]

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.

[terrific]

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

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.

[BitMaxz]

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.

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?

[malcovi2]

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.

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?

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

[Saint-loup]

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.

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.

[GreatArkansas]

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.

[bitgolden]

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

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.

[cryptoWODL]

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.

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?

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

[Lakai01]

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.
-snip-

"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.

[NotATether]

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.

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).

[Nrcewker]

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.

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.

[jaberwock]

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).

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.

[Cookdata]

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.

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.

[goaldigger]

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.

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.

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?

[mvdheuvel1983]

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.

[poodle63]

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.

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.

[Learn Bitcoin]

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?

[SquirrelJulietGarden]

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.

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 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?

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.

[Lakai01]

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.
[...]

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]