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
- Qualified Binance traders can register a BingX account and bind a read-only Binance API to BingX. After that, the Binance account will be displayed from the [Share Trading Accounts] section on traders’ profile page.
- Copiers are recommended to allocate ≥200 USDT as their Copy Trade 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. - Copy traders’ trading signals will be monitored via the connected Binance API and will be copied in copiers’ Binance sub-account.
- All trading activities and PnL changes will take place in the Binance sub-account.
- Once a copier stops copying, the Copy Trade Funds will be automatically transferred back to their BingX account.
3. How to Calculate Copiers’ Opening/Closing Position Size
E.g., the NAV (Net Asset Value) of trader A’s USDT-Margined Futures Account on Binance is 1,000 USDT. If trader A uses 30% of his/her NAV, i.e 300 USDT to Long BTC/USDT with 5X leverage:
If a copier allocates 100 USDT as Copy Trade Funds, 30%*95% of it will be 28.5 USDT; thus the system will perform a trade as Long BTC/USDT with 5X leverage and 30 USDT margin.
If a copier allocates 200 USDT, his/her trade will be Long BTC/USDT with 5X leverage and 57 USDT margin.
In short, the margin will be a certain percent (30% in this example) of the copier’s Copy Trade 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.
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.
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 = 0.5% * 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
Notes:
- Since all trading fees are collected by the external platform, the referral commission will not be calculated based on the actual trading fees;
- If you have any questions, please contact customer service.
FAQ
Q1. CopyTrade Pro vs. Copy Trade
|
CopyTrade Pro (External Platform) |
Copy Trading (BingX) |
|
|
Copy Trade ( 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 Trade Mechanism |
The margin is transferred from Copy Trade Funds. ( Copy Trade 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 |
Based on the ratio of trader’s Margin to NAV (of USDT-Margined Futures Account); Eg. If the Margin/NAV ratio is 10%, copiers’ margin size will be ( Copy Trade Funds*10%*95%). |
Based on [Principal of Single Trade]. |
|
Spread |
Determined by the trading market of the external platform. |
Comparatively Low. |
|
Trading Pair |
All USDT-Margined Futures trading pairs available on the external platform. |
All pairs of BingX Standard Futures. |
|
Trading Limitation |
Same as the external platform. E.g. Binance: No limitation on daily trades, leverage, and less limitation on trading volume. |
Daily limit on orders: 10; Max. leverage: 10X; Certain limitation on trading volume. |
|
Copy Traders’ Profit Share |
10%, settled on a weekly basis. |
8%, settled on a daily basis. |
|
Margin Mode |
Same as the external platform. E.g. Binance: Both Cross Margin and Isolated Margin mode are supported. |
Only Isolated Margin Mode is supported. |
|
Fees |
Same as the external platform. E.g. Binance trading fee rate: 0.05% ( for both Opening and Closing Position); Funding fees: based on real-time market conditions. |
BingX trading fee rate: 0.045% ( for Closing Position Only); Funding fees: based on real-time market conditions. |
Q2. When will the copiers’ Copy Trade start after copying a trader in [CopyTrade Pro]?
1) If the trader has opened positions, it will only start when he/she closes all already-opened positions and opens a new one.
2) If the trader does not have any position in his/her account, 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 Copy Trade account if the trader makes a deposit or withdrawal in his/her USDT-Margined Futures account on the external platform?
1) If the trader makes a deposit, an equal percentage of position reduction will be made to the copier's Copy Trade account to ensure that the real leverage of the copier's Copy Trade account is the same as the real leverage of the trader's account.
2) If the trader makes a withdrawal, the NAV of the Copy Trader’s USDT-Margined Futures Account on Binance becomes smaller, while the risk of forced liquidation is higher than the copier's Copy Trade account. Therefore, no changes will be made to the position of the copier's Copy Trade account.
Q5. If the copier increases or decreases the Copy Trade funds, what will happen to his/her Copy Trade account?
1) If the copier increases the Copy Trade Funds when there are opened positions in the Copy Trade 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 Trade 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 Trade Account.
Risk Warning
Trading digital assets and their derivatives is highly leveraged and risky and may result in partial or total loss of account funds. Before conducting spot/futures trading, investors must ensure that they understand the nature and rules of spot/futures trading, and decide whether to participate in spot/futures trading based on their investment experience, goals, financial status, and ability to bear risks.
BingX Operation Team
18/11/2021