and the distribution of digital products.
BYDFi Vs Bitget Vs BingX: Copy Trading
Crypto trading is not an easy feat. Despite vigorous analysis, it is simply impossible to keep track of the market trends all the time. So here comes the need for copy trading. Look no further because this article explains every aspect of copy trading on BYDFi vs Bitget vs BingX.
Summar- Copy-trading enables a trader to copy another veteran trader and eliminates the need for rigorous analysis and monitoring market data all the time.
- A follower copies one or more than one successful trader at a time to maximize profit and reduce or diversify risks.
- On all the three exchanges, BYDFi, Bitget, and BingX, followers can sort the traders based on their assets, ranking, win or profit rate, followers, etc.
- Traders get a portion of profit share from their followers that varies with the platform used.
Typically, trading in cryptocurrency requires a lot of focus, market analysis, strategies, and time. However, copy trading allows people to mimic the moves and techniques of professional and experienced traders. Thus, it is helpful for especially novice traders, saving their time and protecting them from significant losses.
The beginners can follow the traders and automate their strategies, carry out their trades without being present to gather maximum profits. Copy Trading is divided into two broad categories, that is, follower and trader. Both are elaborated in this article.
MoonXBT Vs Bitget Vs BingX: Copy Trading
What is BYDFi?
BYDFI is another one of the best crypto trading platforms, which is relatively a new exchange. It is based in Singapore and offers different products, including spot, derivatives, Forex, and copy trading. Furthermore, BYDFI is a highly user-friendly platform, which provides leverage up to 125x, crypto-to-crypto conversions, low fees, copy trading fiat deposits, and much more.
To learn more, check out the BYDFI review.
VISIT BYDFI
What is Bitget?
Bitget exchange is based in Singapore and offers spot trading, derivatives trading, and copy trading globally. Furthermore, it has over 1.5 million registered users and acquired licenses from Singapore, Canada, the USA, and Australia. To learn more, take a look at our Bitget review.
Visit Bitget
Bitget
Copy Trading with Bitget
Several proficient traders are present on Bitget, which is an excellent advantage for the new traders. As a result, the traders can maximize their profits without constantly monitoring and analyzing the market data.
Additionally, the users can access copy trading features with one click on the website and the Bitget app (Android & iOS). Finally, users should go through the profiles of experienced candidates to thoroughly understand their strategies, method, history, and style.
Bitget Copy Trading: Followers- Firstly, a follower has to select the traders that they want to mimic. Then they can sort through the profiles based on trading history, performance, win ratio, ranking, etc.
- A follower has the authority to modify the settings according to the contract chosen.
- Bitget keeps the record of all copy trading transactions so that the user can view and analyze the returns.
- This platform is completely transparent. Hundreds of professional and experienced traders are present to choose from.
- Moreover, the followers can expand their profits and reduce risk by following more than one trader at a time.
- Lastly, bitget allows the follower to change, stop loss, take profits, etc., according to their requirement.
Bitget Copy Trading: Followers
Bitget Copy Trading: Traders
- A user can apply to become a trader after fulfilling specific requirements.
- The requirements include mandatory KYC, and the contracts should have no open orders, no positions, no stop limit, and no following any traders.
- Any trader on Bitget can charge a maximum of 10% share of their follower’s profit through copy trading.
- The crypto community present on Bitget helps the traders to gain more followers and thus expand their profit.
- The traders have to meet specific deposit requirements described in the table below so that their followers can start copying them.
With low fees, high transaction speed, a reliable trading environment, and more than a million registered users, BingX exchange comes under one of the best cryptocurrency exchanges present. This exchange provides various services such as instant spot exchange, derivatives pairs for trading cryptocurrencies to their users.
Visit BingX
BingX
Copy Trading with BingX
BingX invites users to invest smartly and expand the profits significantly by following elite traders. Established in 2018, it offers one of the fastest and secure networks to execute contract trading. Also, it provides copy trading services to its users to copy and implement tested strategies to build up a good portfolio and get high returns.
BingX Crypto Social Trading
BingX Copy Trading: Followers
- A follower can take the help of the BingX community to check the profile of the trader they want to follow or copy their moves.
- They can narrow down their search with the help of filters such as ranking, followers, total assets, profit rate, and much more, up to as shown in the image below.
- The users can modify their settings to include a daily limit on the trading.
- On BingX, a trader can get up to an 8% share of their follower’s profit.
- Each trader has graphically recorded trading data as shown below that is visible to their followers.
BingX Copy Trading: Traders
MoonXBT vs Bitget vs BingX: Pros and Cons
Conclusion: MoonXBT vs Bitget vs BingX
All three platforms provide Copy Trading services with similar functionalities and features. Still, MoonXBT and Bitget offer higher per cent profit shares than the BingX exchange. On the other hand, BingX offers a fast trading experience to its users. Moreover, both Bitget and BingX are regulated by authorities of different nations. On the other hand, MoonXBT provides a lot of new features to followers as well as traders.
MoonXBT Frequently Asked Questions How can I cancel copy-trading on MoonXBT?Copy-trading can be cancelled in two ways:
Active cancellation: A user directly cancels the copying task through the settings.
Passive cancellation: if any order is not copied three times due to low balance or any other reason, copy trading automatically gets cancelled.
Yes, users from Australia can get started with copy trading on BingX in just a few simple steps. Also, BingX is regulated by AUSTRAC so that the users can use the platform without any worries.
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