This addition is aimed at simplifying the trading process by allowing users to emulate the strategies and portfolios of experienced or “lead” traders.
Copy traders can follow up to 10 lead traders simultaneously and have the discretion to set their own risk preferences — such as take profit/stop loss, leverage levels, and margin configurations, as outlined by the exchange. “Binance is constantly evaluating its product offerings as regulations and regulatory guidance develop. This is why availability of certain products varies in different regions - copy trading is only available in selected markets and we will continue to review our product offerings to ensure they remain welcomed by both users and regulators,” the spokesperson added.
Some regulatory bodies in various countries have expressed concerns, suggesting that Binance might not have implemented sufficient measures to prevent its platform from being used for unlawful financial activities. In response, Binance has repeatedly stated that it is committed to meeting all relevant legal and regulatory standards.
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