Copy trading is a trading strategy that allows investors on different financial markets to automatically open positions and carry out trades in line with the portfolio of a different chosen business or trader. Depending on how the user would prefer to handle copy trade, it can either be automatic or manual. Copy trading methodology allows new traders to follow in the footsteps and replicate successful and profitable traders with a proven track record.
Recently, copy trading is growing in popularity amongst beginner traders. Novice traders who lack extensive knowledge of a particular market stand to benefit from top traders’ experience without having to invest a lot of time and effort into creating a successful trading strategy. As we all know, it can take a lot of time and effort for novice traders to test and try a profitable technique while continually improving at it. As a result, copy trading can be a safe alternative to experimenting with the markets without any risk. Simply put, copy trading allows beginner traders to trade like an expert with just one click.
The Perks of Copy Trading with Phemex
Phemex, the Singaporean cryptocurrency exchange, continues to take the crypto world by storm this season. The exchange just optimized their new copy trading feature where users can now automatically copy top traders’ trading strategies. Users can easily browse, follow and choose their favorite traders through Phemex’s copy trading. With just a simple click of a button, users can now start their copy trading journey and learn from the pros. In addition, Phemex’s copy trading ensures users the flexibility to adjust leverage, funds exposure, and cancel at any time.
The new copy trading feature is beneficial to both users and top traders on Phemex.
Top traders can apply to be listed and have a public profile on their trading information. Traders can showcase their profile and trading ability to a wide audience and notify followers on their newest Youtube livestreams. Not only will top traders profit from their own trades, they can also increase their profits by earning from all their followers.
It is important to point out that Phemex provides top traders with one of the market’s most competitive commissions. The Phemex copy trading offers top traders up to 20% in profit share commissions compared to other competitors like Bybit or Bitget, offering around 8%. Compared to its competitors, Phemex allows top traders to take part in Phemex’s trading competitions to share a sizable prize pool.
In addition, the platform outbeats its competitors by allowing top traders a greater access to promote themselves on Phemex. Through announcements and social media platforms, traders can quickly reach a large user base on Phemex, attracting more copiers and boosting their profit share. Phemex copy trading will also have a live streaming feature where top traders can showcase their trading strategies in real time to gain more followers. Additionally, users that sign up for Phemex as top traders will immediately obtain Phemex VIP Level +1.
What’s best, top traders will also automatically participate in Phemex’s trading competitions to split a large prize pool. Phemex welcomes all the pro traders to participate in copy trading and grow their followings through various social media channels. The exchange will soon launch monthly copy trading competitions where top performing traders and followers can share a large prize pool. Top traders can choose how much percentage of the prize they want to share with the users to further interact and engage with the followers and community. Not only can the traders and followers battle other teams with Top Trader Competition, top traders will also be displayed on Phemex trading competitions like the PT Arena to gain more exposure and followers.
Growth and Future of Phemex
Phemex’s objective is to support everyone in exploring new possibilities in the financial and blockchain space. Traditional financial service systems are widely acknowledged to be ineffective and unequal. A new era of financial independence is opening up as a result of the decentralization and digitization enabled by blockchain technology.
In light of its remarkable background, Phemex now casts a watchful and optimistic view on the platform’s future. The blockchain system is projecting endless growth in the coming years. And as the industry expands its ventures, Phemex is gearing up to lead the way.