Last Updated on March 15, 2023 by Bitfinsider
Starting from 11th March, ProEX has launched the Copy Trading function for Futures Trading, which rewards the professional trader and followers with POMG tokens if they successfully fulfill the criterias. For investors who are interested, here are some of the benefits, and we will be writing a step-by-step guide below.
Benefits of Copy Trading
Copy trading is a method of trading where an investor copies the trades of a professional trader. This method has gained popularity among investors in recent years because of the many benefits it offers. Some of these benefits include:
- Access to Expertise: Copy trading allows investors to access the expertise of successful traders without having to become experts themselves. By following the trades of experienced traders, investors can learn from their strategies and tactics, and potentially profit from their success.
- Saves Time: Copy trading saves time by automating the process of trading. Investors do not have to spend hours analyzing the markets or making trades. Instead, they can rely on the expertise of others to make decisions for them.
- Diversification: Copy trading allows investors to diversify their portfolio by following multiple traders with different strategies. This helps to reduce the risk of losses and can potentially increase returns.
- Increased Transparency: Copy trading platforms offer transparency by providing investors with real-time information about the trades of other investors. This helps investors make informed decisions about which traders to follow and which trades to copy.
- Easy to Use: Copy trading is easy to use and requires no special skills or knowledge. Investors can simply choose the traders they want to follow, set their preferences, and let the platform do the rest.
However, investors should also be aware of the risks associated with copy trading, such as the potential for losses and the need to carefully choose the traders they follow.
Copy Trading Guide
Step 2: Once successfully registered an account, Proceed to Copy Trading
Step 3: Filter by Profit, ROI (Return of Investment), Winning Rate, Number of Followers
Step 4: By clicking on Copy on a professional trader, you will see this screen pop up.
It will state the risk involved with following orders, and coin pairs available, the copy trading Types and following amount.
Fixed Amount Order: When the trader places an order, the system according to the number of orders placed by the trader, with the amount you use to follow the order to copy the order, when the number of orders placed is insufficient, will be the maximum number of orders placed by the remaining amount.
Proportional Follower: When a trader places an order, the system calculates the proportion of each order placed by the trader to the available balance of the futures contract, and uses this proportion to calculate the number of orders you place each time.
Do remember to set your take profit and stop loss settings, as the cryptocurrency trading is highly volatile and also 24/7!
Get Rewarded with POMG when you Copy Trade!
For followers, If you follow a position and the investment amount is >=200 USDT, you will be eligible to get 5 POMG!
For Professional Traders, If your orders are followed by other users and you make a profit. ProEX will send you a 10% bonus from your followers’ earnings, and for every successful follower, you will get an additional 2 POMG!
- Participants must pass real name verification to be eligible for rewards
- When your followers stop copying and make profit, the commission will automatically be sent in the form of USDT
- Professional trader status is permanent, if there are users who continuously follow orders, profits will always accrue
- POMG rewards will be paid out every Wednesday and will be distributed to user’s ProEX account every Friday
- Professional trader status will be reviewed and established within 3-5 business days after you submit the form
- Professional trader status will not affect your other trading orders
- No rewards will be awarded for account swiping or any violations. After verification, the account and identity will be permanently suspended, and the official will retain the right of legal prosecution.
- For users participating in this activity, any data and records of participating activities retained or generated by them are mainly based on system and time records.
- ProEX reserves the right to interpret, modify, suspend, terminate the activity method and change the content of the version at any time.
Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.