Q: What is contract Copy Trade?
A: Contract Copy Trade - also known as copy trading/social trading - refers to the practice of platform users posting their own trades so that their trading strategies can be used by other users in their implementation.
The initiator of a trading strategy or signal is usually called a trader and the consumer of the signal is called a "follower".
Q: Is there any risk in copy trading?
A: In trading, you must be aware of and fully understand all possible risks before you invest. The future success of a trader cannot be guaranteed based on their past performance.
However, there are risk management features that can help you make the right decision when selecting a trader, which may help maximize profits and minimize potential losses.
Q: How long does it take for a trade executed by a trader to be reflected in my account?
A: Trades are usually executed almost immediately when the trader executes his/her trade.
Q: Can I stop following trades with a trader at any time?
A: You can disconnect from any trader and stop copying trades at any time. Once disconnected, the orders that have been placed with the trader will remain until you actively close your position, after which all orders will no longer be placed with the trader.
Q: Do I incur fees for copy trading?
A: Billance does not charge you a commission. You will only pay the commission on the contract and your share of the profits from copy trading, which will be paid directly to the trader.
Q: When I connect to a trader's trade, do I get the same price as the trader?
A: No. Depending on the spread, there may be a delay in execution and you will be able to view this data in your account history.
Q: Why does my trade show that my copy trading failed?
A: There are various reasons that will cause copy trading to fail, you need to check if you are experiencing copy trading failure due to the following conditions, if you can't solve it please contact our official customer service.
-The number of followers of a trader has reached the maximum number
-The trader has been withdrawn
-Zero or insufficient funds in the contract account
-Single day follow margin has reached the maximum
-Copy trading user are following too many traders, causing position value to exceed the upper limit
-Trader's single open position has reached the upper limit