How Binance Auto-Copy Trading Works:Explained
It is often said that imitation is the highest form of flattery, but it can also be extremely profitable. If you want to trade like the best, then a case can be made for emulating the best traders. This feature enables subscribers to replicate — in real-time and in their own exchanges — the actual trades of top traders.
What is Binance Auto Copy Trading? And How Does it Work?
Binance Auto Copy Trading enables individuals in the financial markets to automatically copy positions opened and managed by another selected expert trader. This method allows subscribers to copy their desired trader with a specific strategy.
Whether you’re a beginner learning the basics or not sure what to trade, now it’s easy to leverage other traders’ expertise. With Alpha Impact’s Binance Auto Copy Trading, you can automatically copy top-performing traders, instantly replicating their trading in your own portfolio in real-time.
This article will guide you through how to auto-copy trade Binance traders on the Alpha Impact platform.
How to Auto Copy Trade on Alpha Impact?
Do make sure the following details before attempting to auto-copy trade on Alpha Impact:
- Create an account on Alpha Impact. Click here to sign up.
- Link at least one portfolio to Alpha Impact. We support Binance and KuCoin Exchanges.
- Click here to learn more about connecting a Binance account
- Click here to learn more about connecting a KuCoin account
*For Binance users, please ensure that ‘Spot and Margin Trading’ has been enabled for your Binance API key settings.
Binance Auto Copy Step-by-step Guide on Alpha Impact
The following guide is a walk-through of the first version of the Binance auto copy trading feature on Alpha Impact.
If you already have an existing Alpha Impact account, please proceed to Step 7.
1. Log in to app.alphaimpact.fi and click on “Linked Portfolios”
If you have a friend’s referral code, please key in so that you and your friend can get a reward of up to $50! For more details, refer here.
2. Connect your portfolio first. Let’s use “Binance” as an example here. Once you connect to your Binance account, go to “API Management”.
3. On the API List, click on “Create API” and name your API Key
4. Once your API Key is created. Click on “Edit Restriction” and
- Click on “Enable Spot & Margin Trading”
- Under “IP access restrictions”, click on “Restrict access to trusted IPs only (Recommended)”
*Update: We have just migrated our internal system so please type “ 188.8.131.52 , 184.108.40.206 , 220.127.116.11 , 18.104.22.168” instead
5. Copy the “API Key’’ and “Secret Key” from Binance and paste the “API Key” and “Secret Key” on the Alpha Impact platform.
6. Click “Link” and you’re done!
7. Now you can finally start to auto-copy trade! Please ensure you have funds in your Binance exchange.
Select a trader on the “Discover’’ page that shows “Auto-copyable” on their portfolio. Click on the Auto-copyable Portfolio.
8. You will be able to see what the trader is trading in real-time and how many subscribers are auto-copying his/her trades.
9. Once you click on the top bar to auto-copy your desired trader, you will be able to see a percentage comparison of your portfolio and the trader’s auto-copyable portfolio.
10. Read through the T&Cs and click on them once you verify on it
And you’re done auto-copying this trader! Now you can sit back, relax and watch how the trader does his work!
Please note that you will only be able to access the trader’s real-time trades (Signals) history after subscribing to the trader. Alpha Impact recommends subscribing to traders to have the best trading experience. Learn more about Alpha Impact signals here.
Unable to “Autocopy”? on Alpha Impact! Check out our Alpha Impact Help Centre for more information.
About Alpha Impact
Crypto Made Easy.
Alpha Impact is a social trading platform designed to bring trust to crypto trading. Whether you want to copy an expert trader automatically or you’re already a crypto trader and want to build and monetize your following, we’re building the infrastructure to take the guesswork out of crypto trading.
Traders on the Alpha Impact platform are some top-performing crypto traders in the industry. In good markets or bad, our traders are incentivized to share their trades and trading strategies through the Alpha Impact platform. Finally, a place where users can filter through the noise and learn about crypto trading from experts with a visible track record. Even better, traders have an incentive to share their investment thesis, analysis of the market, and the reasons behind their trades.
We share our fees with traders, meaning that there is finally an incentive for expert traders to share their activity and views with crypto enthusiasts and beginners.
Built by experts from the traditional finance space, our philosophy is to empower everyone to become a crypto trader. Whether you’re a beginner wanting to learn from an expert, or an expert wanting to get paid, we’re here to democratize access to this industry, one trade at a time.