Spot copy trading: copy trader FAQ
OKX is bringing Spot Copy Trading to its global audience this coming November.
Here's a quick FAQ guide for copy traders to answer any burning questions you might have.
1. What happens when I copy a spot Lead trader?
When you successfully copy a spot lead trader, you'll automatically replicate their spot trading buy/sell orders.
2. What happens when I sell my spot copy trade crypto earlier than the lead trader?
You can choose to sell their spot copy trading assets ahead of the lead trader by manually selling on the copy trade management page. Your profit or loss will be the difference between your buy and sell price.
3. What happens if the trader I'm copying sells their lead trade crypto?
You'll mirror the sell action, although the sell price may slightly differ to the lead trader's price.
4. Can I choose not to sell my spot copy trade even if the trader sells?
No, unless you've already sold or activated a stop loss before the trader's sale, you'll automatically replicate the trader's selling action.
5. How many currencies are supported for spot copy trading?
We're starting with 114 cryptocurrency pairs and plan to gradually expand it in our product ecosystem. The selection of cryptocurrency pairs has been curated to maintain healthy liquidity levels, prioritizing trader protection.
6. Are there margin modes on spot copy trading?
Spot copy trading mirrors the features of spot trading and doesn't involve margin requirements, thus, there's no margin mode associated with it.
7. Can leverage be used in spot copy trading?
Just like regular spot trading, spot copy trading doesn't use leverage.
8. Is there minimum purchase amount for each currency? Where can I find out more?
Yes, the minimum purchase amount varies for different currencies and may change over time due to fluctuations in currency values. For precise information, please consult the currency transaction data on the manual trading page.
9. What percentage of my profit do I need to share with the lead trader?
Lead traders have the flexibility to tailor their profit-sharing ratio, with the maximum cap set at 13%, based on their AUM tiering. Read more about profit sharing tiers here.
10. I saw the spot lead trader recruitment campaign. Can I start copying trading now?
You can only start spot copy trading after the feature officially launches. In the meantime, you can join the waitlist and gain access to special benefits once spot copy trading launches.
If you haven't tried the current copy trading feature, or are clueless about what copy trading is, here's an important note for you:
Copy trading happens when a copy trader (aka copier), copies the trades of an experienced trader (also known as Lead trader). The trades are copied automatically and in real time.
Does copying a professional without the need for any complicated analysis sound too good to be true? Try it out here for yourself!
This article is provided for informational purposes only. It's not intended to provide
(i) investment advice or an investment recommendation;
(ii) an offer or solicitation to buy, sell or hold digital assets; or
(iii) financial, accounting, legal or tax advice.
Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.
Please consult your legal/tax/investment professional for questions about your specific circumstances.
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