Trading basics
Copy Trading: Answers to the Most Commonly Asked Questions
Beginner
2023-04-25 | 5m
To date, Bitget is the world’s largest crypto copy trading platform, with over
540K followers and 110K traders. In this article, we will answer the most commonly asked questions about copy trading so you can make informed investment decisions and potentially increase your profits.
What are the main products offered by Bitget Copy Trading?
Bitget Copy Trading offers three main products to our users:
-
Futures Copy trading: allows you to effortlessly copy the contract orders of highly skilled traders, giving you the potential to generate profits like a seasoned pro. For more information about Futures Copy Trading, refer to Bitget Futures Copy Trading Guidelines .
-
Spot Copy trading: gives you access to elite traders who have the skills and knowledge to buy and sell in highly volatile markets. For more information about Spot Copy trading, refer to The Ultimate Guide to Bitget Spot Copy Trading .
-
Bot Copy Trading: allows you to either buy a strategy from the pros or subscribe to a strategist who can guide you through the trading process. For more information, please refer to Bitget Bot Copy Trading: A How-To Guide For Users .
Spot and Futures accounts
What is the difference between a spot account and a futures account?
The difference between a spot account and a futures account lies in the types of activities associated with each. A spot account is used for trading cryptocurrencies at real-time prices, while a futures account is used for
trading futures contracts.
How do I transfer funds to my futures account on Bitget?
You can transfer funds from your Spot/P2P/Margin account to your futures account.
For web users
Step 1:
Visit the Bitget website and
create a new account or log in to your existing one. Next, select ‘
Futures Account’ under the Asset icon.
Step 2:
Click on ‘
Transfer’ and select the type of assets you want to transfer into your futures account. Then, enter the amount and click
‘Confirm’.
After completing the transfer process, you can head to
Dashboard to view your asset.
For app users
Log into your Bitget account and tap ‘
Asset’ on the homepage, then click on ‘
Transfer’ and select the type of assets you want to transfer into your Futures account.
Enter the amount and click ‘
Confirm transfer’.
After completing the transfer process, you can head to
Asset-Futures to view your asset.
Can I use funds from my spot account to engage in copy trading on Bitget?
Absolutely! You can definitely use the funds from your spot account to
copy trade on Bitget.
In early 2023, Bitget achieved a major milestone by becoming
the first CEX to introduce copy trading in the spot market. This innovative product is designed to be a low-slippage, low-latency, and low-maintenance trading solution that removes the burden of trading from your shoulders and generates profits with the help of our most successful traders.
Copy trading fees
What are the costs associated with copy trading?
Copy trading, like any other form of trading, comes with some costs that you should be aware of, 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 Bitget?
By using Bitget's copy trading feature, you can become a follower and have the same positions as top traders at no cost (no registration fees). However, in accordance with our platform's guidelines, a portion of the profits generated from this trading will be charged.
What fees do I need to pay for each trade? Are there any hidden fees?
The fees for each trade are based on the
copy trading strategy you choose. Rest assured that there are no hidden fees, providing you with complete transparency and peace of mind.
To copy futures trades, you will need to consider futures fees, funding rates, and performance fees. For Spot copy trading, on the other hand, you should factor in the spot fees, slippage, and performance fees. Ultimately, when it comes to
Bot Copy Trading, you'll need to make a payment either in the form of subscription fees if you opt to subscribe to the strategist for 30 days or strategy fees if you decide to purchase the strategy directly from the strategist.
For more information on Fee Schedule on Bitget, click
here
.
Copy trading performance tracking
What metrics should I use to track the performance of my copy trading portfolio?
To track the performance of your copy trading portfolio, here are some metrics we suggest you consider:
-
Return on Investment (ROI): calculates the percentage of profit or loss from your investment. This is the most common metric for measuring the overall success of your portfolio.
-
Win rate: measures the percentage of trades that result in a profit. The higher the win rate, the higher the probability of making profitable trades.
-
Position duration: measures the average time it takes for a trade to reach its profit target or stop-loss. It helps followers evaluate the effectiveness of the trader’s strategy.
-
Drawdown rate: measures the largest percentage loss your portfolio has experienced from its peak value. Followers should aim to keep drawdown rates as low as possible to minimize the risk of significant losses.
How often should I review my copy trading performance?
The ideal frequency for reviewing your portfolio is determined by your investment goals, risk tolerance, and trading strategy. We advise you to review your copy trading performance regularly to ensure that your investment objectives are met and that there is no serious loss.
What tools can I use to track my copy trading performance?
-
Bitget Copy Trading analytics: a built-in analytics tool that allows you to track your performance in real time.
-
Bitget app: allows you to track your performance on the go and stay on top of your trading.
-
Spreadsheet software: offers you the flexibility to create your simple performance tracking spreadsheet using popular tools such as Microsoft Excel or Google Sheets.
Copy-trading community
What benefits are there to engaging with the copy-trading community?
By being a part of the copy-trading community, you can connect with other like-minded traders, exchange ideas, and collaborate on various trading strategies.
How can I find and connect with other copy traders on Bitget?
If you're keen on discovering and connecting with fellow
copy traders on Bitget, you must check out Bitget Insights.
Bitget Insights is a newsfeed that comprises news updates, analyses, and opinions on the market from influential traders and registered experts. By following these traders, you'll gain valuable insights that can help you make better-informed trading decisions. You can also search for specific traders or topics using the search bar, comment on posts or insights, ask questions, or share your own insights and trading experiences.
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