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November 10, 2023 - Crypto exchange OKX today announced a significant enhancement to its Copy Trading platform – the addition of ‘Spot Copy Trading’. This new feature enables users to copy the strategies of elite 'lead traders,' executing these strategies in real-time across an extensive range of over 120 spot pairs, with more pairs to be added soon. OKX is one of the few exchanges that offers copy trading for the spot market.
Previously, OKX Copy Trading was limited to the Perpetual market. OKX copy-trading users can now access both the spot and perpetual markets.
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.
Lennix Lai, OKX Global Chief Commercial Officer
Lennix Lai, OKX Global Chief Commercial Officer, states: "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 says that its Copy Trading tool 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 also states that 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, creating 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 preparation for this launch, OKX organized a series of trading competitions to identify the 'Top Lead Traders' for Spot Copy Trading. The search kicked off with the Türkiye Lead Trader Championship on July 17, featuring various challenges to select up to 15 champions based on new copier growth, PnL% growth, and win rate.
Earlier in January 2023, OKX enabled copy trading for 108 derivatives contracts and recently introduced Signal Trading, a cutting-edge trading bot and marketplace. This new platform connects signal providers with traders, offering automated strategies based on technical analysis signals for crypto buying or selling decisions.
