Binance Introduces Spot Copy Trading

Following the launch of Futures Copy Trading​ in October 2023, crypto giant Binance has rolled out Spot Copy Trading, expanding the concept of Copy Trading on Binance beyond futures, and bringing it to the spot markets. 

This new offering is available on both the Binance website and Binance App. Users (i.e., "Copy Traders") in eligible regions may start replicating the real-time Spot trading strategies of experienced and skilled traders (i.e., "Lead Traders'') seamlessly via Copy Trading, notes the crypto firm in an announcement. 

Copy Traders select the Lead Traders that they would like to copy, allowing them to learn various strategies and benefit from the trading expertise of more experienced traders. Lead Traders would earn a 10% profit share from their Copy Traders, 10% commissions from their Copy Traders’ trading fees, and receive exclusive benefits.

"For new traders, or existing traders looking to automate, this means an opportunity to learn from others. For Lead Traders, it's an opportunity to monetize their expertise and cultivate passive revenue streams, all while maintaining control over their investments and portfolio," said Binance. "Our goal is to equip every user, no matter where they are or their level of experience, with tools to enhance their trading confidence and capabilities," said Binance.

Shortly before, Fazzaco reported that Binance, alongside KuCoin, has received approval from India's anti-money laundering department, becoming the first authorized offshore crypto-related entity in the country.