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 MoonXBT, Bitget, and BingX.
Table of Contents
- 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, MoonXBT, 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.
What is Copy Trading?
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.
What is MoonXBT?
Founded in 2021, MoonXBT offers unique services such as light contract trading and a copy trading platform. Further, MoonXBT’s future positioning is a Social Trading platform, because Trading itself is cold and requires the community of traders to interact. In addition. the platform provides a safe and convenient environment for users to trade at reasonable prices with meagre fees and excellent liquidity.
MoonXBT has a secure and robust trading system. Along with providing high leverage, up to 150x, to its users, it also offers demo mode and an easy-to-use interface. Furthermore, MoonXBT real market provides valid data to ensure zero errors.
To know more, refer to our MoonXBT review.
Copy Trading with MoonXBT: Followers
- Any user can become a follower regardless of their position, history, or skills.
- A follower can choose a successful trader and copy their moves automatically.
- Here on MoonXBT, followers can sort the traders based on their style or the level of risk they are taking. For example, ROR (rate of return) or percentage of profit, win rate (number of trades won / total number of trades), total ROR, trading days, completed transactions, and so on, as shown below.
- Also, they are not limited to selecting only one trader. A follower can choose several traders at once to automate their trades and for better win rates. Thus, they can increase their profits.
- In addition to that, opening/closing and other trading actions will be automatically synchronized with the traders. Thus, the follower can maximize their profit without watching the market and making strategies.
- In return, the follower has to pay a small portion of their profit by copying their moves.
- Each profit data is recorded and displayed in real-time, and the followers can keep track of their copy trading data through the ‘my copied trades’ section.
- Despite the automated actions, the user can modify the setting as per their requirement.
Copy Trading with MoonXBT: Traders
- Professional Traders who are successful and experienced and are copied by followers on this platform come under the ‘trader’ category.
- When a user becomes a trader successfully, their trading history is displayed on their dashboard.
- Unfortunately, if a user is a follower, then they cannot switch to the trader category.
- It is only possible once a follower gets enough experience and fulfills the criteria.
- A user can either become a trader by contacting customer service or clicking on ‘become a trader.’ To know the detailed process, read our article on MoonXBT Copy Trading.
- A trader must have more than 500 USDT as a deposit and more than five real trading orders.
- In addition, that user should not be following another trader, and they should not have any open order.
- Once users become traders, they can start getting a portion of the profit from their followers’ profitable orders.
- A trader is entitled to get UPTO 10% share of their follower’s profit on copy trading.
What does MoonXBT profit distribution mean?
MoonXBT allows the traders to charge up to 10% of the profit share from their followers. As a result, the expected profit amount is frozen or deducted from the follower’s account when the position is closed.
However, if the frozen amount is less than the actual profit share, the trader gets the expected amount in their account. Similarly, if the frozen amount is more than the actual profit share, the excess amount is returned to the follower’s account.
MoonXBT copy trading: Things to remember
- To get started with copy trading, a user should have at least 20 USDT in their account.
- A user can copy only two traders at the same time.
- A user cannot add a margin or modify stop-profit and stop-loss in copied orders.
- The time of a copied order will be the same as the traders.
- The daily limit of the copyable margin must not exceed more than 50000 USDT.
- All the copy orders are taken out by market order.
- The user should know the limit orders are not copied under copy trading.
- The leverage of the copied order is the same as the traders.
The below table shows the margin range for a single copy trading position for different cryptocurrencies.
|Crypto pair||Maximum leverage for copy trading||Fixed margin range|
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.
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: 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.
|Deposit requirement (USDT)||Number of followers|
|More than equal to 500 and less than 10,000||50|
|More than equal to 10,000 and less than 5,000,000||100|
|More than equal to 5,000,000||150|
What is BingX?
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.
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 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.
BingX Copy Trading: Traders
- 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.
MoonXBT vs Bitget vs BingX: Pros and Cons
|MoonXBT||Several parameters are given to sort the traders as per the preference of the followers. |
Simple process to become a trader.
|Copy-trading has just been launched on MoonXBT.|
|Bitget||Hundreds of veteran traders to choose from. |
A trader can charge up to a 10% share in their followers’ profits.
|KYC verification is mandatory to become a trader.|
|BingX||The BingX community assists users in searching for their ideal trader. |
The trading data of all the traders is entirely transparent.
|A trader is entitled to only 8% of the profit of their followers, which is comparatively low.|
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.
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.
What are the limits to copy trading on MoonXBT?
Can Australians access BingX copy trading?
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.