What is BingX Copy Trading? A Guide to Copy Trading on BingX

What is BingX Copy Trading?

Copy trading is an online trading method where traders use software to replicate the trades executed by other traders through the BingX12 trading platform. BingX is a pioneering company in cryptocurrency copy trading, allowing users to track specialized investors and replicate their trades for potential benefits.

For those considering entering the realm of cryptocurrency copy trading, BingX might be the ideal starting point. At BingX, users can copy trades from outstanding global traders who consistently demonstrate the ability to profit from cryptocurrencies even in the current market conditions. You can select ‘Copy Trading’ from the menu, redirecting you to the copy trading webpage. Here, you’ll find an overview of trending traders on BingX and more.

However, it’s crucial to note that crypto copy trading does not guarantee profits, and traders must always exercise due diligence before copying others’ trades. The risk-to-reward ratio should be carefully considered when utilizing this feature.

Related: What is Copy Trading? How Does Copy Trading Work?

Guide to Use BingX Copy

Step 0: Register for an account: Here (If you already have a BingX account, you can skip this step).

Step 1: Access Copy Trading

• If you’re using the app, navigate to the homepage and find the ‘Copy Trading’ section.

• If you’re using the web version, go to the homepage and locate the ‘Copy Trading’ tab.

Step 2: Choose a Trader

In the Copy Trading section, you’ll find a list of traders to choose from. You can view various details about them, such as their current position, historical profits, and risk acceptance level.

Step 3: Enter Copy Settings

Once you’ve selected a trader, you’ll be directed to their profile page. Click the ‘Copy Now’ button to initiate the copy trading process. You’ll be prompted to enter your copy settings.

Step 4: Review Copy Trading Data

Access the ‘My Trades’ section to review the data related to your copy trading.

Things to Know When Using BingX Copy Trading

• Understanding Copy Trading: Copy trading is a feature that allows followers to automatically replicate the trades of leading traders.

• Types of Copy Trading: BingX provides three types of copy trading: “Copy by Position Size,” “Copy by Fixed Margin,” and “Copy by Spot Grid.”

• Selecting Traders: BingX offers a list of top traders for you to choose from. You can review detailed information about each trader before deciding to copy.

• Transaction Fees: Each trade on BingX incurs only an opening fee, with no additional service fees.

• Risks and Benefits: Copy trading helps save time and effort in market monitoring and trade execution. However, it’s essential to understand that copying trades can result in profits or losses depending on the trading activities of the chosen trader.

• Research Before Copying: Before starting to copy, thoroughly research the trader you intend to follow. BingX provides detailed information about a trader’s trading history, win rate, and drawdown to assist you in making informed decisions.