Spot copy trading: lead trader FAQ
OKX is bringing Spot Copy Trading to its global audience this November 2023. If you're a lead trader, or an experienced spot trader, here's a quick guide to answer any burning questions you might have.
1. What are the requirements to be a lead trader?
To become a lead trader, you must meet the following minimum requirements:
a) Maintain a trading account balance of over 500 USDT.
b) Successfully complete the full identity verification process with OKX.
2. What's the profit-sharing ratio for lead traders?
Lead traders can set their profit-sharing ratio between 8% and 13%, determined by their 90-day average AUM performance. The profit-sharing calculation and settlement occurs weekly, every Monday at 00:00 (UTC+8), where the profit-share amount will be the cumulative profit-share amount from the previous Monday 00:00 (UTC+8) to Sunday 23:59:59 (UTC+8) Refer to the table below for a visual representation of the AUM-to-profit-sharing percentage correlation.
| Level | AUM | Profit sharing |
|---|---|---|
| 1 | 0 ≤ X < 100,000 USDT | 8% |
| 2 | 100,000 ≤ X < 500,000 USDT | 10% |
| 3 | 500,000 ≤ X < 1,000,000 USDT | 12% |
| 4 | ≥ 1,000,000 USDT | 13% |
3. I'm a lead trader in futures copy trading. Do I need to apply again to be one, on Spot?
Yes, you must apply to become a Lead Spot trader even if you're already a futures lead trader. This is because the AUM for futures copy trading is separated from spot copy trading.
4. How many crypto pairs can I lead spot trade with?
You have the opportunity to lead spot trades with 114 cryptocurrency pairs at the time of launch, with more pairs being added gradually. Keep an eye out for upcoming announcements on new cryptocurrency pairs being added!
5. How do I get traffic exposure on OKX?
There are two ways to increase traffic exposure to your profile on the OKX platform. Those are:
a) Have a good strategy for your trading: Engage in real trading on your trading account and achieve good results that derive from a solid trading strategy, gauged by PnL% and absolute PnL gains
b) Have healthy trading habits: Implement transparent risk management through stop-loss strategies, prioritizing user-centric trading practices to control drawdowns and protect the earnings of copy traders.
6. What type of trader does OKX prefer and prioritize?
a) Genuine: Lead traders who employ a significant portion of their personal capital in their lead trades, assuming the same risk as their copy traders.
b) Reliable: Lead traders with well-defined risk control and stop-loss strategies, demonstrating accountability to users, maintaining a low maximum drawdown, setting reasonable stop-loss levels, and striving to secure positive PnL outcomes for copy traders.
7. What are the sorting and ranking criteria for lead traders on the Market board, and what are the requirements to maintain or improve my standing on the board?
a) Promote real trading leadership: The capital invested by lead traders will factor into the ranking algorithm, boosting the rankings of those with higher capital input.
b) Promote long-term stability: The duration of leading real trades will be factored into the ranking algorithm, resulting in higher rankings for traders with longer leading periods.
8. What are the tips for new lead traders?
- Trading performance is paramount; win rate doesn't guarantee profitability. We value deliberate entries supported by analysis, along with favorable risk-to-reward ratios.
- Craft a compelling lead trader introduction on your profile. It should provide a brief overview of you as a trader, your trading approach, any leverage or settings you'd like to share with potential copiers, insights into the pairs you typically trade, your weekly trading frequency, and any other pertinent information.
If you haven't used OKX copy trading product and are keen to be a lead trader with OKX, apply here.
This article is provided for informational purposes only. It is not intended to provide
(i) investment advice or an investment recommendation;
(ii) an offer or solicitation to buy, sell or hold digital assets; or
(iii) financial, accounting, legal or tax advice.
Digital assets, including stablecoins, involve a high degree of risk, can fluctuate greatly, and can even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.
Please consult your legal/tax/investment professional for questions about your specific circumstances.
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