The leading cryptocurrency exchange Binance has enhanced its copy trading functionality for futures trading in response to “sustained demand” from users.
“The product had an excellent start: in the first three months, the average weekly trading volume exceeded $2 billion. This underscores the high demand for social trading features among Binance users,” company representatives wrote.
New features include:
- Mock Copy Trading — a tool for testing strategies without using “real money”;
- private chats, available in more than 150 countries and in 14 languages;
- the Sharpe Ratio indicator, which shows how well the return of a financial instrument compensates for the risk taken by the investor.
The platform supports more than 100 futures contracts. The amount of funds required to start copy trading begins at $10.
Earlier, Binance researchers declared 2023 a “favourable” year for the Bitcoin industry and reported a 30% growth in their client base.