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Copy trading is a trading strategy that enables investors on various financial markets to automatically open positions and execute trades in accordance with the portfolio of another trader. It can be automatic or manual, depending on how the user prefers to manage copy trading. A successful and profitable trader with a track record can be imitated by traders using the copy trading methodology.
The popularity of copy trading among new traders has recently increased. Without spending a lot of time and effort developing a profitable trading strategy, novice traders who don’t have a deep understanding of a certain market might profit from the expertise of top traders. As we all know, testing and trying out a trading strategy can take a lot of time and work for novice traders. So, instead of playing around with the markets, copy trading may be a secure option. Simply said, copy trading enables newcomers to trade like professionals with only one click.
Phemex Launches Industry-Leading Copy Trading
Phemex, the Singaporean cryptocurrency exchange, continues to take the crypto world by storm this season. Users can now instantly copy the trading methods of top traders thanks to the exchange’s recently enhanced copy trading features. Through Phemex’s copy trading, users can quickly search, follow, and select their preferred traders. Users can now begin their copy trading journey and learn from the pros with just a single click of a button. Additionally, consumers have the freedom to change leverage, fund exposure, and cancel at any time thanks to Phemex’s copy trading.
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 do top traders profit from their own trades, they can also increase their profits by earning from all their followers. It is important to note that Phemex offers one of the industry’s most competitive commissions to top traders compared to other exchanges. Phemex grants up to 20% in profit share commissions compared to other competitors like Bybit or Bitget, offering around 8%.
Compared to other exchanges, Phemex allows top traders to automatically participate in Phemex’s trading competitions to split a large prize pool. Furthermore, Phemex invites all the pro traders to participate in copy trading and grow their followings through various social media channels. Traders can be instantly exposed to a large user base on Phemex through announcements and social media channels, gaining more copiers and increasing their profit share. Phemex copy trading will have a live streaming feature where top traders can showcase their trading strategies in real time to gain more followers. Of course, that’s not all. Any users who join Phemex as a top trader will also automatically receive Phemex VIP Level +1.
Additionally, Phemex plans to launch a monthly copy trading competition where top performing traders and users who copy them 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.
The mission of Phemex is to empower everyone in investigating innovative possibilities in the financial and blockchain sectors. It is widely known that traditional financial service systems are biased and inefficient. Blockchain technology has made decentralization and digitization possible, ushering in a new era of financial independence.
Phemex presents a vigilant and upbeat vision of the platform’s future in the context of its exceptional past. The blockchain system anticipates unrestricted growth in the upcoming years and Phemex is getting ready to take the lead as the industry increases its ventures.
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