Binance (BNB), the world's largest cryptocurrency trading platform, invites all of their customers to try their skills in an automated copy trading module. Its leaderboard features master traders with impressive PnL and assets under management (AUM) metrics.
Copy trading now live on Binance, CZ announces
Automated copy trading module kicks off on Binance (BNB), the world's leading crypto exchange. Binance CEO and founder Changpeng "CZ" Zhao announced this upgrade today, Oct. 9, 2023, on his X account.
According to CZ, on Binance's copy trading platform, customers with various levels of expertise can replicate the trading strategies of some of Binance's most skilled traders.
In a newly launched dashboard, crypto traders can choose the best "master trader" to copy his/her trading strategy. In order to make the copy trading as transparent as possible, Binance demonstrates crucial metrics that characterize the background of this or that trader.
Namely, subscribers can check "Return-on-Investments" (RoI), "Maximum Drawdown" (MDD)" and "Assets Under Management" (AUM) of potential "master" in his/her card.
The most skilled and successful traders demonstrate 500% ROI in 90 days, while 7-day and 30-day data are also available.
Binance (BNB) will operate under new U.K. crypto regulation
For their contribution, "master traders" receive a share of profit generated by their subscribers. For the majority of accounts, this metric is set at 10%.
As covered by U.Today previously, in the last 12 months, similar copy trading modules were launched by a number of centralized exchanges, including PrimeXBT, Blofin, Bitget, Bexplus and so on.
Also, today, Oct. 9, 2023, Binance announced that it will continue its operations in the U.K. with an adjusted promotion strategy and limited functionality.
The introduction of new rules resulted in a number of major crypto exchanges leaving the U.K. market. Bybit is the largest platform to announce it is ceasing operations in the U.K.