1. What is [CopyTrade Pro]?

[CopyTrade Pro] is a stand-alone copy trading service that enables external traders to directly share their trading strategies on other platforms (e.g. Binance) to BingX. This allows external traders to provide copy trading strategies directly on their previous platform to BingX’s users simply by connecting a read-only Binance API to BingX.

 

2. [CopyTrade Pro] with Binance Traders

  1. Qualified Binance traders can create a BingX account and bind a read-only Binance API to BingX. After that, the Binance account will be displayed from the [Copy Trading Accounts] section on traders’ profile page.

  2. Copiers are recommended to allocate ≥200 USDT as their Copy Trading Funds. The system will then create a Binance sub-account for them and transfer the allocated funds over automatically.

    Note: The fund that copiers allocate for copy trading will be used according to the position-to-account fund ratio of the trader that they copy. If the fund is less than 200 USDT, it will not meet the Binance position opening requirement regarding margin. Therefore, copiers are recommended to allocate >200 USDT as their copy trading funds.

  3. Copy traders’ trading signals will be monitored via the connected Binance API and will be copied in copiers’ Binance sub-account.
  4. All trading activities and PnL changes will take place in the Binance sub-account.
  5. Once a copier stops copying, the Copy Trading Funds will be automatically transferred back to their BingX account.

 

3. How to Calculate Copiers’ Opening/Closing Position Size

Copy trades at a position ratio of 95%
Reasons for reserving 5% position: To prevent copiers from failing to copy trader's orders due to insufficient margin caused by the increase of fee rate or cryptocurrency prices.
 

Assume that a trader holds a net asset value (NAV) of 1,000 USDT and invests 30% of NAV, or 300 USDT, to long BTC/USDT with 5X leverage.

If a copier allocates 100 USDT as Copy Trading Funds, 30% * 95% * 100 USDT will be 28.5 USDT; thus the system will use 28.5 USDT to execute a long BTC/USDT trade with 5X leverage.

If a copier allocates 200 USDT as Copy Trading Funds, 30% * 95% * 200 USDT will be 57 USDT; thus the system will use 57 USDT to execute a long BTC/USDT trade with 5X leverage.

In short, the margin will be a certain percentage (30% * 95% in this example) of the copier’s Copy Trading Funds, with leverage of 5X to long BTC/UDST.

Likewise for the closing position. If the trader closes 20% of the position, 20% * 95% of the copier's position will also be closed.

 

"Copy by Position Ratio" Risk Disclaimer

 

4. Copy Traders’ Profit Share

At 00:00 (UTC+8) every Monday, the system will calculate the net profit generated from copiers' copy orders in the previous week, of which 10% will be rewarded and transferred to the trader's Fund Account as rewards.

 

5. Fees

Since all trading activities and asset changes take place in the sub-account of the external platform, the trading and funding fees will be collected by that external platform.

Example: Binance trading fees: 0.05% (applies to both opening/closing a position); Funding fees will be based on real-time market conditions.

 

6. Spread

Spread will be determined by the trading market of the external platform as all trading activities happen there. Normally, there is no spread.

 

7. Forced Liquidation & Trading Limitation

The rules regarding forced liquidation and trading limitations follow the external platform’s as all trading activities happen there.

 

8. Trading Limits

For transactions executed on the external platform, all limits such as leverage limits, minimum trade size, and maximum position will follow the external platform. BingX does not impose additional limits on leverage, max. shared orders daily, max. position, etc.

 

9. Referral Commission

Trading Fee Eligible for Commission = 0.05% * Trading Volume (Applies to both position opening and closing)

Commission = Trading Fee Eligible for Commission * Referral Commission Ratio

 

Example

User A invites User B, user B copies a trader that trades via Binance API. After some time, B’s opening position is 1,000,000 USDT while B’s closing position is 1,000,000 USDT. User A belongs to the Lv 1 category with a commission ratio of 10%.

  • Trading Fee Eligible for Commission = 0.05% * (1,000,000 +1,000,000) = 1,000 UDST
  • User A’s Commission = 1,000 USDT * 10% = 100 USDT

PS:

  1. Since all trading fees are collected by the external platform, the referral commission will not be calculated based on the actual trading fees;
  2. If you have any questions, please contact customer service.



FAQs

Q1. CopyTrade Pro vs. Copy Trading

 

Copy Trading (Binance)

Copy Trading (BingX)

copy trading ( BingX only)

A sub-account for copy trading is created automatically.  Transactions follow the rules of the external platform.

Trading occurs in BingX Standard Futures Account. Transactions follow the BingX Trading Rules.

copy trading Mechanism

The margin is transferred from Copy Trading Funds. ( Copy Trading Funds are transferred from copiers’ BingX accounts.)

A certain margin amount is set for each trade and is transferred from the Standard Futures account.

Margin Size

95% * ratio of trader’s Margin to NAV (of USDT-Margined Futures Account)

(Eg., if the trader's Margin/NAV ratio is 10%, copiers’ margin size will be 95% * 10% * Copy Trading Funds)

Based on the margin of a single trade

6. Spread

No Spread

Comparatively Low

Trading Pair

All USDT-Margined Futures trading pairs available on Binance.

All pairs of BingX Standard Futures

Trading Limitation

No limitation on daily trades, leverage, and higher limitation on trading volume

Daily limit on orders: 10; Max. leverage: 10X; Lower limitation on trading volume

Copy Traders’ Profit Share

10%, settled on a weekly basis

8%, settled on a daily basis

Margin Mode

Binance: Both Cross Margin and Isolated Margin modes are supported

Only Isolated Margin mode is supported

Fees

Trading fee rate: 0.05% (for both position opening and closing);

Funding fees: based on real-time market conditions.

Trading fee rate: 0.045% ( for position closing only); 

Funding fees: based on real-time market conditions.



Q2. When will copiers start copying trades after copying a trader in [CopyTrade Pro]?

1) If the trader already has opened positions before copiers copy him/her, it will only start when he/she closes all already-opened positions and opens a new one.

2) If the trader does not hold any open position when copiers copy him/her, it will start immediately when the trader opens a new position.

Q3. Can copiers edit the Copy Trade details in [CopyTrade Pro]?

Editing of Copy Trade details is not supported currently as all trading activities take place on the external platform. Additionally, it helps to ensure PnL consistency between the trader and the copier.

Q4. What will happen to the copier's Copy Trading account if the trader makes a deposit or withdrawal in his/her USDT-Margined Futures account on Binance?

1) If the trader makes a deposit, the copiers' position ratio will be reduced accordingly to ensure that the real leverage of their Copy Trading account is the same as that of the trader's account.

2) If the trader makes a withdrawal, the NAV of the trader's USDT-Margined Futures Account on Binance decreases, while the risk of forced liquidation is higher than the copiers' copy trading account. Therefore, no changes will be made to the positions of the copiers' copy trading account.

Q5. If the copier increases or decreases the copy trading funds, what will happen to his/her copy trading account?

1) If the copier increases the Copy Trading Funds when there are opened positions in the copy trading account, the added funds will not be used as margin to open positions immediately as it will lead to an inconsistency in opening prices between the trader and copier. The added fund will be included as the margin only after the trader closes all already-opened position and open a new position.

2) Reducing copy trading funds once copying starts are not supported in [CopyTrade Pro] currently. The only way to do this is to stop copying and reset the copy trading details before copying again.

Q6. Are BUSD Perpetual Contracts and USDT Delivery Contracts supported in [CopyTrade Pro]? 

Only USDT Perpetual Futures are supported currently. If a trader trades BUSD Perpetual Contracts or USDT Delivery Contracts, no orders will be placed in copiers' copy trading account.

 

Contact Us
BingX exclusive support for Copy Trading: trader.support@bingx.com
Suggestions & Feedback on our features: https://bingx.com/feedback/?referPath

 

BingX Operation Team
2023-06-07

BingX Official Channels
Official Website: https://bingx.com
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