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Copiers | What Is Copy Trading Subsidy Voucher
2023-02-11 15:05
Overview:
1. What is Copy Trading Subsidy Voucher?
2. What are the advantages of Copy Trading Subsidy Voucher?
3. How to use Copy Trading Subsidy Voucher?
4. How is Copy Trading Subsidy Voucher settled?
5. How to get the Copy Trading Subsidy Voucher?
6. FAQs
1. What is Copy Trading Subsidy Voucher？
"Copy Trading Subsidy Voucher" is a type of insurance that can be used in setting up Copy Settings. If a user's copy order generates a loss, the Subsidy Voucher will be settled and a subsidy will be issued to the user's account. The maximum subsidy is capped at the value of the Subsidy Voucher.
2. What are the advantages of Copy Trading Subsidy Voucher?
Innovator of the feature to safeguard user fund
BingX is the first crypto exchange to launch Copy Trading Subsidy Voucher. With the Subsidy Voucher, users who generate losses in their copy orders will receive a subsidy in USDT, thus enjoying worry-free copy trading.
Easy and beginner-friendly navigation
Copiers only need to apply the Subsidy Voucher in the Copy Settings to have their copy orders protected, and free them from the worry of losses.
Direct settlement and simple procedure
Copiers only need to make sure that they apply the Subsidy Voucher when copying orders. If there are any losses incurred during the validity period of the Subsidy Voucher, the system will settle the claim automatically.
3. How to use Copy Trading Subsidy Voucher?
Step 1: Check My Vouchers. Log in to BingX app, click "Avatar" in the upper left corner and click" My Vouchers" to check the details of your Copy Trading Subsidy Voucher.
Step 2: Choose the trader you want to copy (How to Choose a Trader >>). After clicking "Copy Now", select the Subsidy Voucher you'd like to use in the "Subsidy Voucher" section of the "Copy Settings" page.
Please Note:
There may be a minimum amount requirement for copy trading funds to use the Subsidy Voucher. If the Subsidy Voucher you receive has such a requirement, please set the amount accordingly to use the Subsidy Voucher.
A Subsidy Voucher can only be used to copy a single trader, and it will become invalid if you cancel the copy relationship. If the trader you copy within the validity period of the Subsidy Voucher does not open an order (who has a low trading frequency), the Subsidy Voucher will automatically become invalid upon its expiration date, so please give due consideration before deciding which trader you want to use the Subsidy Voucher on.
4. How is Copy Trading Subsidy Voucher settled?
The Subsidy Voucher is settled automatically by the system and you'll be notified in the Message Center accordingly. You will be able to see whether it is settled as well as the settlement amount. All subsidies will be issued to your Fund Account. You can check it in the Asset Records.
The Subsidy Voucher will be settled automatically in the following scenarios:
a. Copy Trading Subsidy Voucher expires
If the Subsidy Voucher expires and the copier's PnL (while the subsidy voucher is in use) is negative, the settlement amount will be paid. On the other hand, if the copier's PnL is positive and there are no losses incurred, there will be no subsidy payout.
b. The requirement to use the voucher is not met after the user reduces the copy trading funds
If the copy trading fund is lower than the minimum amount requirement, and the copier's PnL (while the Subsidy Voucher is in use) is negative, the settlement amount will be paid. On the other hand, if the copier's PnL is positive and there are no losses incurred, there will be no subsidy payout.
c. Automatic Subsidy Voucher settlement followed by the end of a copy relationship
The copier stops copying the trader
If the copier's PnL (while the Subsidy Voucher is in use) is negative when the copier stops copying the trader, the settlement amount will be paid. On the other hand, if the copier's PnL is positive and there are no losses incurred, there will be no subsidy payout.
The TP/SL of the copy order is triggered when the copier copies a Binance trader or a Perpetual Futures trader
The SL of the copy order is triggered when the copier copies a Binance trader or a Perpetual Futures trader, and the copier's PnL (while the Subsidy Voucher is in use) is negative, the settlement amount will be paid. On the other hand, if the TP of the copy order is triggered and the copier's PnL is positive, there are no losses incurred. Hence, there will be no subsidy payout.
The trader ceases copy trading
If the trader stops sharing their trades and the copier's PnL (while the Subsidy Voucher is in use) is negative, the settlement amount will be paid. On the other hand, if the copier's PnL is positive and there are no losses incurred, there will be no subsidy payout.
The user is removed from the trader's private copier list
If the user is being removed from the copier list by traders who share trades privately with invited copiers and the copier's PnL (while the Subsidy Voucher is in use) is negative, the settlement amount will be paid. On the other hand, if the copier's PnL is positive and there are no losses incurred, there will be no subsidy payout.
5. How to get the Copy Trading Subsidy Voucher?
Please keep an eye on our official events. Participate in the events and you'll stand a chance to win the Copy Trading Subsidy Voucher.
Copy Trading User Feedback >> (If your feedback is adopted, you will receive a Subsidy Voucher as reward)
6. FAQs
Can one Subsidy Voucher be used multiple times?
A Subsidy Voucher can be used once and can only be used to copy one trader. If the copier stops copying the trader after applying the Subsidy Voucher, the Subsidy Voucher will become invalid and cannot be used again.
What is the exact definition of the validity period of the Subsidy Voucher?
The validity period of the Subsidy Voucher includes the date when you can use it, and the expiration date. If the Subsidy Voucher isn't used during the validity period, it will expire. The Subsidy Voucher in use will be automatically settled upon expiration. Copiers can use the Subsidy Voucher at any time before it expires. The sooner you use it, the longer your copy orders will be protected. Therefore, in order to make the most of your Subsidy Voucher, please use it as soon as possible after you receive it.
Example: A copier receives a Subsidy Voucher valid for 7 days on 2023-01-01, which expires on 2023-01-07 24:00 (UTC+8). If the copier uses it on 2023-01-02, the Subsidy Voucher can guarantee protection for six days from 2023-01-02 to 2023-01-07. If the copier uses it on 2023-01-05, the Subsidy Voucher can only cover three days from 2023-01-05 to 2023-01-07. And if the copier doesn't use the Subsidy Voucher before it expires on 2023-01-07 24:00 (UTC+8), it will expire by that time and cannot be used anymore.
Why can't I use the Subsidy Voucher after receiving it?
The copy trading fund amount set by the copier is lower than the minimum amount required to use the Subsidy Voucher.
The Subsidy Voucher is restricted to a certain type of copy trading, such as applicable to Standard Futures only, while the copier has chosen to copy a trader who trades Perpetual Futures.
The Subsidy Voucher has not been used within the validity period and has automatically expired.
Can the Subsidy Voucher be used for all types of copy trading, and can it be used for other types of trading?
If the Subsidy Voucher doesn't specify any restrictions on the types of copy trading, then it can be used on all orders. If it limits the type of copy trading to Perpetual Futures, then it can only be used for copying Perpetual Futures orders. The Subsidy Voucher can only be used in Copy Trading currently.
Can traders use the Subsidy Voucher?
To protect the rights and interests of copiers, traders are not allowed to use the Subsidy Voucher at this time.
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