Main Takeaways
Copy trading on Binance Futures allows users to automatically replicate the trades of experienced traders (Lead Traders), streamlining the learning and investing process.
Our new ‘Discover’ feature simplifies finding and following top Lead Traders with an intuitive swipe interface. Users can now navigate through trader profiles more quickly and easily.
Detailed portfolio metrics empower users to study the strategies in depth while the mock trading option lets users practice copy trading in a realistic virtual learning environment.
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At Binance we’re obsessed with making trading more accessible and efficient. One recent feature that we’re proud of for its simplicity and effectiveness is Futures Copy Trading, which allows users to mirror the strategies of more experienced traders.
Building on this, we’re excited to introduce ‘Discover’ as a new tool designed to make Futures Copy Trading even easier to use. This update simplifies finding and following top Lead Traders through an incredibly easy-to-navigate ‘Swipe & Discover’ interface.
The launch of ‘Discover’ underscores our commitment to enhancing user experience by providing straightforward access to expert trading insights. Read on to learn more about this intuitive tool for exploring and engaging with the world of crypto futures!
What is Futures Copy Trading?
Copy trading is a Binance Futures feature that allows users to automatically copy the trades of more experienced traders (Lead Traders). Here’s how it works: when a Lead Trader makes a trade, the same trade is replicated in the account of the person who has chosen to copy them, based on a proportionate investment size. This means if the Lead Traders profits, so does the copier (and vice versa for losses).
This is especially appealing to those new to futures trading or those looking to benefit from the expertise of seasoned traders without having to spend a significant amount of time researching and executing trades themselves. It’s a practical way to learn by observing the decisions of experienced traders in real time. For a more detailed exploration of copy trading and its benefits, please refer to our introductory blog.
The Need for Innovation in Copy Trading
Since we launched copy trading in October 2023, we’ve noticed one particular challenge for new users: the sheer amount of information available! With countless Lead Traders to choose from, it can take a long time to identify those with the skills and track records that best meet a user’s preference. This barrier is compounded if the interface isn’t as user-friendly as possible, making the process of selecting a Lead Trader more daunting than it needs to be.
Information is crucial when it comes to trading digital assets, and users need clear, concise information to make choices that align with their goals. Recognizing these challenges, we felt there was a need to update our copy trading solution with a more streamlined selection process, prioritizing and improving the user experience.
Unveiling ‘Discover’: Helping You Find The Best Lead Traders
The futures copy trading ‘Discover’ feature is designed to make it easier for users to connect with the top traders in crypto. ‘Discover’ simplifies the process of finding Lead Traders to follow, using an incredibly straightforward, user-friendly interface.
With a simple swipe mechanism, users can quickly and easily browse through Lead Traders profiles. Swiping right adds a Lead Trader to your favorites, making it simple to return to their profile later, while swiping left moves you on to the next profile.
This intuitive interface makes exploring profiles engaging and informative, encouraging users to actively discover and learn about different strategies and performances.
‘Discover’ also makes it simple to view detailed portfolio metrics for each Lead Trader. Users can view performance history, trading strategies, risk management practices, and more, all aimed at providing a transparent and informative overview. This allows users to make more informed decisions on whom to copy, based on the data that matters.
Finally, users should note this enhanced integration lets them easily click [Mock] to test with virtual funds or click [Copy] to trade directly. Mock Trading lets users practice copy trading in a realistic virtual learning environment without investing real money.
Step-by-Step Guide: How to Use ‘Discover’
Using ‘Discover’ on Binance Futures is straightforward. Here’s a simple step-by-step guide to get you started:
1. Log into Binance Futures (on mobile): This feature is designed for mobile so the first thing you need to do is access your Binance account via your mobile device. Then navigate to the Futures section. Ensure you have the necessary setup to engage in futures trading.
2. Access ‘Discover’: Look for the ‘Discover’ feature at the bottom of the Copy Trading homepage. It’s clearly marked and easy to find.
3. Start Swiping: Once in ‘Discover’, you’ll see profiles of lead traders. Swipe right if you’re interested in learning more about them or potentially following their trades. Swipe left to move on to the next trader.
4. Use Mock or Copy Trading: Within a trader’s portfolio, you have options to engage in mock trading with virtual funds or start copy trading directly. Mock trading is a great way to practice without financial risk.
5. Manage Your Favorites: Traders you’ve swiped right on are added to your Favorites. You can revisit these profiles anytime to review or adjust your copy trading choices.
By following these steps, you can effectively navigate ‘Discover’, and make informed decisions on whom to follow and learn from on Binance Futures.
Beyond ‘Discover’: Our Vision for the Future of Trading
The launch of Discover reflects our commitment to continuous innovation. We want to keep making the trading experience more accessible, intuitive, and efficient for everyone, from beginners to seasoned investors. ‘Discover’ is another step forward in this journey, offering a much more user-friendly way to engage with copy trading.
Our vision for the future of trading goes beyond just introducing new features. We’re dedicated to creating an ecosystem driven by the needs and feedback of our community. We invite you to be a part of this process. Your feedback and suggestions are invaluable to us as we strive to develop features that truly meet your needs.
Final Thoughts
We encourage you to explore Copy Trading with ‘Discover’ and see first-hand how it can transform your experience. Whether you’re new to futures or looking to diversify your strategies, ‘Discover’ provides the tools that make it easier for you to gather information and connect with traders in the crypto community. Stay tuned for ongoing updates as your feedback continues to help shape the future of trading on Binance.
Further Reading
Disclaimer: Digital asset prices are subject to high market risk and price volatility. The value of your investment may go down or up, and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. You should only invest in products you are familiar with and where you understand the risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. Trading by following and/or copying or replicating the trades of other traders involves a high level of risks, even when following and/or copying or replicating the top-performing traders. Such risks include the risk that you may be following/copying the trading decisions of possibly inexperienced/unprofessional traders, or traders whose ultimate purpose or intention, or financial status may differ from yours. Past performance is not a reliable indicator of his future performance. No relationship between top-performing traders & Binance. In no way is performance or results guaranteed. Content on our platform does not contain advice or recommendations. This material should not be construed as financial advice. For more information, see our Terms of Use and Risk Warning and Responsible Trading Policy.