1. Copy Trading Tutorial
Copy trading is a type of trading that replicates all operations of other traders.
1.1 How to Perform Copy Trading
Open the Biconomy official website and log in to your account. Select [Copy Trading] from [Contract Trading] at the top to enter the Biconomy copy trading page.
On the copy trading page, scroll up and down to view the list of traders. You can search by total profit and loss, return rate, trading volume, or by searching for a trader’s nickname. Select a trader you like and click [Start Copy Trading] to enter the copy trading parameter settings page.
There are three copy trading methods to choose from on the copy trading settings page: [Fixed Amount], [Multiple Copy], and [Fund Ratio].
Fixed Amount: You invest the same amount of margin for each copy trade (if you set a fixed amount of 100 USDT, you will invest 100 USDT as margin when the trader opens a position).
Multiple Copy: Each copy trade amount is a certain multiple of the trader’s order quantity (if you set it to 3 times, when the trader opens a position of 0.1 BTC, you will follow and open a position of 0.3 BTC (0.1*3)).
Fund Ratio: Copy trading based on fund ratio ensures that the follower’s capital risk for each order remains consistent with that of the trading expert. Based on the calculated ratio, followers can infer the risk control and confidence level of the trading expert for each trade. For example: If a trading expert has 1,000 USDT in their account and invests 100 USDT margin for a trade, the fund ratio for that order is 10%. If the follower has an available balance of 100 USDT following this trading expert, then only 10 USDT margin will be invested for this copy trade.
[Maximum Copy Trading Margin]
Set the maximum margin amount for the current trader’s position, which must not exceed the specified limit. When the maximum copy trading margin reaches the set limit, the copy trader will stop opening positions. Copy trading will only resume when the total margin of the copy trader’s positions falls below the set amount.
In the [Advanced] settings, you can set [Margin Mode] and [Copy Trading Stop Loss].
[Margin Mode]
Cross Margin: Use all available funds in your copy trading account as margin for your positions
Isolated Margin: Allocate independent margin for each position
Follow Trader’s Settings: Automatically adopt the same margin mode as the trader when opening positions
[Copy Trading Stop Loss]
When your net loss from following the current trader reaches this amount, your positions will be closed at market price, and you will stop following this trader. Due to market fluctuations, the actual net loss when the copy trading is canceled may differ from what you set.
[Leverage] and [Copy Trading Pairs] follow the trader’s settings by default.
After completing all settings, click [Copy] to complete the copy trading operation.
1.2 My Copy Trades
Click [My Copy Trades] on the Biconomy copy trading homepage.
[My Copy Trades]
[1] Displays all my copy trading profit and loss, as well as the current copy trading margin investment amount
[2] Click to switch between viewing [Current Copy Trades] and [Historical Copy Trades]
[3] List of traders currently being copied and display of copy trading profit and loss data
[4] Copy trading details
[Copy Trading Details]
[1] Displays profit and loss data from following the current trader
[2] You can switch to view data generated in the current copy trading transaction [Current Copy Trades], [Historical Orders], [Historical Positions]
[3] [Manage Copy Trading], modify copy trading parameters
[Copy Trading Management/Modify Copy Trading Settings]
[1] Modify copy trading type [Fixed Amount], [Multiple Copy], [Fund Ratio]
[2] When copy trading funds are insufficient, you can adjust funds through [Transfer] or [Deposit]
[3] Adjust [Margin Mode]. When the current trader being copied has open positions, adjustment of [Margin Mode] is prohibited
[4] [Cancel Copy Trading]. After confirmation of cancellation, if positions exist, all positions of the current trader being copied will be closed at market price, and copy trading will be canceled.
1.3 How to Choose a Trader
[1] You can filter suitable traders for copy trading by [Total Profit and Loss], [Return Rate], [Trading Volume]
[2] Copy trade by searching for a trader’s nickname
[3] Click on a trader to view their detailed information
[1] View the trader’s information, trading volume, profit sharing ratio, etc. to decide whether to copy trade
[2] Switch to view the trader’s trading data, historical position information, copy traders’ profit and loss to judge whether to copy trade
[3] View the current trader’s positions to determine whether to copy trade
[4] These conditions need to be judged according to your actual situation. Recommended judgments have no practical significance and are for reference only.
2. Trading Guide
2.1 Apply to Become a Trader
Enter the Biconomy copy trading page and click Apply to Become a Trader.
Before applying to become a trader, you need to cancel all copy trades and transfer copy trading account assets to other accounts.
Fill in the basic information on the application page and submit the application. The review time is 1-7 working days.
2.2 How to Conduct Trading
After becoming a trader, you only need to trade on the contract trading page. After an order is executed, a signal will be automatically sent to the copy traders’ accounts, and the copy traders’ accounts will replicate this transaction at market price.
View historical trading positions
2.3 Trading Settings
Enter the Biconomy copy trading page and click [My Trading]
[My Copy Trades]
[1] Current trading data
[2] Function list, you can switch to view [Current Trading], [Historical Trading], [Copy Traders], [Profit Sharing], [Settings]
[3] Current position information in trading
[Trading Settings]
[1] [Modify Nickname] After submitting a modification, it takes 1-7 working days to complete the review
[2] [Modify Avatar]
[3] [Trading Pairs] Adjust suitable currency pairs for trading, will make your trading data more excellent and ranking higher
[4] [Minimum Copy Trading Amount] Set the minimum copy trading amount to filter copy traders with appropriate fund size
[5] [Public Domain], [Private Domain]
Adjusting [Public Domain], [Private Domain] trading will not affect users who have already copied trades.
Public domain trading means anyone can join your trading, while private domain means only those with the correct key can successfully join copy trading.
[6] [Profit Sharing Ratio]
Adjusting the profit sharing ratio will not take effect immediately for users who have already copied trades; it will take effect after they re-copy trades with the newly set ratio.
Adjusting the profit sharing ratio can increase profit sharing income after copy trading profits, but too high a profit sharing ratio will also affect copy trading users’ willingness to continue copying trades.
[7] [Copy Trading List] When enabled, the copy trading list only displays the top 10 users with the highest cumulative earnings.
[8] [Cancel Trading] Cancel trading. Positions in current trading will be closed at market price. The pending profit sharing portion will be shared to the contract account after settlement at the next settlement time.
3. Profit Sharing
3.1 Profit Sharing Rules
Traders can set a profit sharing ratio of 0-N%.
After a trader changes the profit sharing ratio, users who have already copied trades will not immediately change their profit sharing ratio. After canceling copy trading and re-copying trades, the profit sharing ratio will be recalculated according to the trader’s current profit sharing ratio.
Settlement method:
When a copy trader closes a position, if the copy trader’s position is profitable and meets the profit sharing requirements (profit sharing ratio greater than 0, and position is profitable), the system will pre-deduct the bonus from the copy trader’s account and settle it at midnight (UTC0) the next day, calculating the total actual profit of the copy trader for the day. “Actual realized profit” is the actual commission paid to the trader.
If the actual collected profit sharing is lower than the profit already deducted from the copy trader’s account, the excess deducted profit sharing will be returned to the copy trader’s account, and the remaining portion will be settled to the trader.
Special cases:
If a user has unclosed copy trades, profit sharing will not be settled until the relevant positions are closed. Profit sharing will be settled the next day, or until there are no positions at a certain next day midnight settlement time, and then settlement will be made.
Example: A copy trader follows a trader to place orders. Ten orders are placed that day, eight of which profit 200 USDT and two of which lose 50 USDT.
Deducted profit sharing: 200*10% = 20 USDT
Secondary settlement of daily cumulative realized profit: 200-50 = 150 USDT
Trader’s actual profit sharing: 150*10% = 15 USDT
Deduction amount returned to the copy trader after deducting profit sharing: 20-15 = 5 USDT
Copy trader’s daily realized profit: 200-50-20+5 = 135 USDT
3.2 How to View Profit Sharing Data
After becoming a trader, go to [My Trading] -> [Profit Sharing] to view profit sharing data.
[1] Select profit sharing
[2] View current [Pending Profit Sharing], [Historical Profit Sharing]
[3] [Estimated Pending Profit Sharing], pending profit sharing data will change according to opening and closing position operations profit and loss. Estimated pending profit sharing is only a reference before actual profit sharing; in some cases, there may be data delays.
[4] Estimated pending profit sharing list after copy traders’ profit, which will change with position changes after opening and closing positions.
4. Reasons for Different Open and Close Prices Between Copy Traders and Traders
Copy traders open and close positions at market price, so each copy trader’s position price will be different.
5. Reasons for Copy Traders’ Failure to Open or Close Positions
Single copy trading amount is insufficient for the minimum limit of this opening position. You can increase the single amount to ensure successful copy trading. Please refer to contract trading restrictions for the minimum order quantities of different contract pairs.
Maximum copy trading margin has reached the copy trading limit. You can adjust the maximum copy trading margin, or successfully open positions again after closing positions when the maximum margin has not reached the limit.
Insufficient funds in the copy trading account. You can successfully open positions next time by transferring funds to the copy trading account.
Exceeding price difference protection. To prevent the copy trader’s opening price from being too different from the trader’s, leading to a large gap in returns between the two, when the copy trader’s opening price differs from the trader’s opening price by about 0.5%, the copy trader will no longer open the order.
Others: Due to market changes, depth, and other objective reasons, when the market fluctuates violently, in extreme cases, copy traders may not be able to completely close positions successfully because they trigger trading restrictions or due to other uncontrollable abnormal factors.
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