BitMax.io has rolled out Copy Trading Service for perpetual futures trading. Users can review and subscribe the service to "follow and copy" trades on the platform. After users choose and subscribe to a trader and turn on Copy Trading function, the system will automatically and completely copy the selected trader's instructions to the users’ account.
1. How to Subscribe to Traders
Users can go to the Copy Trading page to select traders and subscribe. Upon subscription, users can view the trader's trading activities before deciding whether to follow and copy the trader. A user can subscribe to multiple traders but can follow and copy ONLY ONE trader at a time. If the user chooses to copy and follow another trader, the user must first update the setting of the copied trader to be subscription-only.
Auto Renewal will be turned on by default after subscription, but users can turn it off via [Account] - [Copy Trading] - [My Copy Trade].
Five-Day Free Trial Period
When a user subscribes to a trader on the platform for the first time, the user will be eligible for a five-day free trial period, during which the user can subscribe to the trader and follow trades for free. Each user can be eligible for the five-day free trial only ONCE. A subscription fee starts to calculate immediately after the trial period ends and will be deducted from the user's Cash Account.
If the user chooses not to subscribe to the trader, the user can turn off the Auto Renewal button before the free trial period ends, and the subscription will be automatically canceled.
2. How to Select Copy Mode
After users subscribe to a trader, users can choose to copy trades via "Copy with Fixed Amount" or "Copy with Proportional Amount." Details are as follows:
Copy with Fixed Amount
Under this mode, users will follow and copy trades with a fixed amount, regardless of the trader's order amount.
For example, if a user set a fixed amount of 100 USDT, then the user will copy trades with the 100 USDT, regardless of the trader's order amount (be it 20 USDT, or 200 USDT). Users with an insufficient balance will NOT be able to initiate the copying trade.
Copy with Proportional Amount
Under this mode, users will set a factor of proportion ranging from 0.1X to 500X, and follow and copy trades with an amount equaling [Trader's Order Amount*Pre-set Factor of Proportion
Users can also set a minimum or maximum copy amount for each trade. If the user set a min/max amount and then place an order with the amount lower / higher than that, the pre-set min/max amount will be used. Users with insufficient balance will NOT be able to initiate the copy trading.
For example, if you set the factor of proportion at 2x, the minimum copy amount at 20 USDT, and maximum copy amount at 100 USDT.
1) The trader whom you follow places a 40 USDT order, then the copied amount will be 40*2 = 80 USDT. Since the copied amount falls within the pre-set range of 20 USDT - 100 USDT, the trade can be copied and executed with the copied amount of 80 USDT.
2) The trader whom you follow places a 100 USDT order, then the copied amount will be 100*2=200 USDT. The copied amount is higher than the pre-set maximum amount (100 USDT), and you will follow and copy the trade with the maximum amount of 100 USDT.
3) The trader whom you follow places a 2 USDT order, then the copy amount is 2*2 = 4 USDT. The copy amount is lower than the pre-set minimum amount (20 USDT), and you will follow and copy the trade with the minimum amount of 20 USDT.
3. How to Modify Subscription
Users can modify their subscriptions via one of the following two ways:
1) Visit [Homepage] - [Copy Trading]- Click on [Learn More] on the side of the trader you subscribed - Click on [Following];
2) Visit [Homepage] - [Account] - [Copy Trading] - [My Copy Trade] - Click on [Edit] on the side of the trader you subscribe.
The new setup will ONLY affect trades placed after the modification. Orders placed before that will be executed per the prior setup.
4. Auto Renewal
Two days before the current term expires, the user will be notified via email or message to renew the subscription. Subscription renewal fee will be deducted from the user's Cash Account at the expiration date. If the deduction fails, the subscription will be cancelled.
5. How to Cancel Subscription
Users can turn off the Auto Renewal button to cancel subscription. Then the subscription will be automatically canceled after the current term expires.
Risks and Disclaimers
1. Please note that use of the Copy Trading service should NOT be construed as Platform providing financial or investment advice. By subscribing to the Copy Trading Service, you should be responsible for your own investment research and final decision in selecting traders to follow and copy. You should understand all aspects of the risk associated with the copied account and the copied trader’s trading objectives.
2. Please note that copied trades are NOT guaranteed to be executed the same way trader's orders are executed. In the case of limit orders, there might be occasions where the trader's order is fully filled, while the user's copied trade is only partially filled or not filled at all. In the case of market orders, there might be occasions where the transaction prices for the trader and the user are different. Please use caution when copying trades and set a reasonable copy amount.
3. Please note that there might be interplay between trades placed by users themselves and trades placed by using Copy Trading Service. Please see the Copy Trading Service Disclaimer for further details.