LBank Copy Trading: Answers to the Frequently Asked Questions
Copy trading is a smart way to handle investments, especially for people who are not very experienced in trading. It lets them copy the strategies used by experienced investors. In this system, followers can copy the way a lead trader trades, and the same strategy is automatically used in the market. This usually leads to making money for followers.
On LBank, copy trading lets you copy what experienced traders do. It doesn’t matter if you’re good at trading or new to cryptocurrency — copy trading is a special way to make more money. LBank makes it easy by giving you a platform where skilled traders can show their trades. In this guide, we will answer the most frequently asked questions about copy trading to make well-informed trading decisions.
What Is LBank Copy Trading
Copy trading on LBank is a simple trading tool offering traders easy ways to replicate strategies employed by seasoned trades. This means that less experienced traders have the option to copy the trading strategy of a lead trader. The replicated strategy is automatically executed on the market, resulting in profitable returns for the follower. Concurrently, the lead trader can receive a portion of the profits generated by followers who replicate their shared trading strategy.
For example, if an experienced trader risks 5% of their capital in a Bitcoin trade position, the LBank’s copy trading system automatically allocates a corresponding 5% of the follower’s asset to the exact position.
What Are the Main Products Offered by LBank Copy Trading?
LBank Copy Trading offers two main products to our users:
- Futures Copy trading: gives you access to copy the futures contract orders of top-rated futures traders, giving you the potential to generate profits like a seasoned pro.
- Spot Copy trading: just like trading the normal crypto market without leverage, you can copy the trades of skilled traders who are able to enter and exit trade positions in the volatile crypto markets.
What Are the Advantages of LBank Copy Trading?
Safety
All trading masters have been strictly reviewed by LBank. Their trading records are visible, and their trading data is transparent and clear. Hundreds of high-quality trading masters and strategists are at your disposal.
All trader statistics come from real-time data of their trades on LBank, providing you authentic, timely, and transparent information for reference. All records of a trader’s positions and orders are traceable through our system. Rest assured when copying a trading master or strategist.
Automated returns
Follow multiple trading masters at the same time to maximize your profits. Copy trading allows you to automatically enter and exit positions at the same time as the trading masters you follow, so you don’t need to keep a close eye on the market. Simply following trading masters and strategists gives you the opportunity to enjoy higher returns with fewer obstacles.
Your copy trading dashboard shows realized and unrealized PnL for every trade. The dashboard is easy to follow and updated in real-time.
Easy Customization
Customizing how you copy trade is simple and intuitive. Modify the amount, trading pairs, and futures types you want to copy at any time, or stop copying to take profit from a position whenever you want.
Risk Management
The copy trading platform allows users to set stop-loss and take-profit levels for each copied trade. This helps manage risk and protect against significant losses.
Learning Opportunity
While copy trading doesn’t require active trading knowledge, it still offers a learning opportunity. By observing the trades and strategies of successful traders, users can gain insights into market trends and trading techniques.
Time Efficiency
For users who are always busy with other tasks, LBank copy trading eliminates the need for users to constantly monitor the markets, analyze charts, and execute trades. Users can save time by letting professional traders handle the trading process.
How do I start copy trading?
Starting copy trading on LBank is as simple as selecting a trading master, setting up your parameters, and tracking the copy trades at your leisure.
How do I track my copy trades?
Select ‘My trades’ from your copy trading dashboard to view detailed data on your copy trades, including your total assets (USDT), net profit, profits on specific trades, and other information on followed trading masters.
Why did my copy trade order fail?
Wondering why your copied trade isn’t executed, it may fail due to several reasons such as the trading master canceling the order, removing you as a follower, insufficient funds in your account, or reaching copy trading limits for the trading pair. LBank will always notify you when an order has failed to execute or when you are removed as a follower.
What are the fees associated with copy trading?
Just like regular trading, copy trading on LBank comes with costs including trading fees, slippage, performance fees (a percentage of the profits you make from copying a successful trader’s trades), funding rates, and subscription/strategy fees.
How much does it cost to begin Copy trading on LBank?
LBank does not charge registration fees. You can become a follower and have the same positions as top traders at zero cost. However, profits generated from these copied trades are commissioned and certain rates are credited to the lead traders.
Are there any hidden fees?
LBank provides detailed information about each trader’s performance, trading fees, trading style, and historical trades. There are no hidden fees, providing you complete transparency to make informed decisions when selecting traders to copy.
How can I find good traders to copy on LBank?
By default LBank shows you a grid list of top lead traders to follow. This list is sorted based on details such as total profits, win rates and total followers of these traders. You can choose your preferred trader based on these parameters or you can simply search for specific traders or topics using the search bar, and also join the LBank community.
Disclaimer: Crypto trading can be quite volatile, and copy trading carries its own risks. It’s important to remember that the information shared in this article is purely for educational purposes and should not be considered as financial advice. See T&Cs.
