DUBAI, UAE, Nov. 10, 2023 /PRNewswire/ — OKX, a leading global Web3 technology company and crypto exchange, today enhanced its Copy Trading tool with the addition of Spot Copy Trading. This new feature enables users to copy the strategies of top-performing ‘lead traders’ and automatically execute those in real-time across over 120 spot pairs, with additional pairs to be added in the near future. OKX is one of the few exchanges that offers copy trading for the spot market.
Previously, OKX Copy Trading was only available for the perpetual market. With the addition of Spot Copy Trading, OKX users can now enjoy expanded trading opportunities by accessing both the spot and perpetual markets. This enables them to explore a wider range of trading strategies and diversify their portfolios. Additionally, the new feature provides an attractive option for users who seek the deep liquidity and stability that OKX provides while exclusively focusing on spot copy trading.
The new feature also provides ‘lead traders’ with the opportunity to lead trades across both perpetual and spot markets, earning a profit share of up to 13% for eligible replicated spot and perpetual trades. In addition, ‘lead traders’ can attract up to 1,500 copy traders for each market. By leading trades across multiple markets, ‘lead traders’ have the opportunity to amplify their earnings and further diversify their trading strategies.
OKX Global Chief Commercial Officer Lennix Lai said: “We’re thrilled to announce the launch of OKX’s Spot Copy Trading feature, enabling users to automatically execute the strategies of top-performing traders. The launch of Spot Copy Trading demonstrates our commitment to being a leader in the automated trading space, and we’re dedicated to ongoing innovation and providing a seamless trading experience for our users.”
OKX Copy Trading comes with a range of unique features that set it apart from other copy trading platforms on the market. It is the only tool of its kind to offer both “one-way” and “hedge” position modes for both spot and perpetual markets. This means traders can choose to hold positions in only one direction or maintain both long and short positions concurrently, providing them with more flexibility in their trading approach.
OKX Copy Trading is also one of the only tools in the market that enables spot and perpetual contract ‘lead traders’ to share their trades exclusively with invited users. This feature creates a more personalized trading experience for both the ‘lead trader’ and users replicating their trades. In addition, OKX has a network of over 8,000 experienced ‘lead traders,’ providing users with a diverse range of trading strategies to choose from.
In the lead up to the launch of Spot Copy Trading, OKX launched a series of trading competitions to identify the ‘Top Lead Traders’ for the product. OKX’s search for top-performing ‘lead traders’ began on July 17, when the exchange invited users to take part in its Türkiye Lead Trader Championship. This championship featured a number of challenges aimed at selecting up to 15 champions based on criteria such as the highest contribution to new copier growth, PnL% growth and win rate.
The launch of Spot Copy Trading represents OKX’s continued commitment to innovation in the automated trading space; in January of 2023, OKX enabled copy trading for 108 derivatives contracts. OKX also recently announced the launch of Signal Trading, a trading bot and marketplace that bridges the gap between signal providers and traders, offering automated strategies based on technical analysis, or ‘signals,’ which can indicate whether to buy or sell crypto.
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OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
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This announcement is provided for informational purposes only. It is not intended to provide any investment, tax, or legal advice, nor should it be considered an offer to purchase, sell, hold or offer any services relating to digital assets. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. Leveraged trading in digital assets magnifies both potential gains and potential losses and could result in the loss of your entire investment. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. OKX does not provide investment or asset recommendations. You are solely responsible for your investment decisions, and OKX is not responsible for any potential losses. Past performance is not indicative of future results. Please consult your legal/tax/investment professional for questions about your specific circumstances.
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