Binance Launches Copy Trading in Selected Markets
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Binance, the world's leading cryptocurrency exchange, has rolled out a copy trading feature for futures products in specific markets. This feature allows users to mimic the portfolios of experienced "lead" traders, streamlining their trading experience.
Both copy and lead trader roles are available to Binance users. When a trade is copied, the lead trader benefits with a 10% share of the profit. Copy traders can simultaneously follow a maximum of 10 lead traders and can customize their risk settings, including profit/loss parameters and leverage.
Binance emphasized the role of this feature in boosting community engagement, stating that it "lowers the barriers to entry into crypto and improves social engagement." While the exact markets to feature copy trading weren't disclosed, the spokesperson assured ongoing evaluation of their products in line with regulatory compliance.
Highlighting the exchange's commitment, the spokesperson noted, "Binance constantly adapts its offerings as regulations evolve. Therefore, product availability varies by region. We're committed to ensuring our services are embraced by both users and regulators."
Binance, while being the largest in terms of trading volume, has faced its share of controversies. Regulatory bodies in various countries have raised concerns over potential illicit activities on its platform. Binance, in return, assures its dedication to all legal standards.
Past challenges include the U.S. SEC's legal actions against Binance for allegedly offering unregistered securities. Additionally, regulatory issues in countries like Canada and the Netherlands forced the company to limit or withdraw certain services.
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