BingX has announced the integration of copy trading into the spot market as part of its effort to enhance user engagement and strengthen its trading strategy ecosystem. This new feature empowers BingX users to replicate spot orders from seasoned traders, providing an efficient way to engage in spot trading. Copy Trading is a practice in the cryptocurrency sector where investors, especially those with limited experience, are able to automatically copy the trading strategies and actions of experienced and successful traders.

It gained popularity because it allows less experienced traders to benefit from the expertise of more knowledgeable traders without having to actively manage their own trades. Initially, BingX offered copy trading services for futures trading only. Spot Copy Trading is a feature that operates in real-time on traders' spot orders. This allows users to efficiently follow these orders, including popular trading pairs like BTC/USDT and ETH/USDT.

Users have the ability to view the profiles of traders, choose a trader that suits their preferences based on their profit and loss, ranking and trading portfolio, and then observe the trades being executed to potentially gain profits. This streamlined procedure is intended to ensure accessibility for traders of all levels to do spot trading with convenience. As per the press release, the BingX Elite Copy Traders Program, open to all traders, is extending an invitation to proficient spot traders from around the world to join the BingX community, thereby aiming to establish a well-developed ecosystem of copy trading. More About BingX Based in Singapore, BingX is a crypto exchange that offers spot, derivatives, copy, and grid trading services to over 100 countries and regions worldwide with over 5 million users. BingX’s mission is to connect users with expert traders and its platform in a secure manner.

As a player in the crypto copy trading sector, BingX has amassed a community of more than 8,000 professional traders with about 4 million followers, resulting in the execution of 130 million copy trading orders. In August 2023, BingX extended its partnership with CertiK, aiming to enhance the security of its platform and provide users with a safer trading environment. With the partnership, CertiK would continue to provide BingX with the Security Score API, which enables BingX’s platform to access security scores generated by CertiK.

This data will be displayed on the BingX website, aiming to provide users with insights into the security of various blockchains and Web3 projects. In June 2023, the company announced its integration with CoinTracking, a cryptocurrency portfolio management and tax reporting platform. This partnership aimed to provide BingX users with a simplified solution for tracking their crypto investments and generating accurate tax reports. With the integration of CoinTracking, BingX users have access to a tool that simplifies the process as well as ensures compliance with tax regulations.

CoinTracking helps users generate detailed reports for capital gains, losses, income, and other taxable events. .