Binance's fresh spot copy trading service is now open for registrations from lead traders who meet portfolio size management requirements. Lead traders receive a 10% profit share and a 10% commission rebate on trades copied by others weekly. Users can evaluate lead traders' performance metrics, mimic up to ten portfolios, and set automated risk management. It's worth noting that leverage isn't available for spot copy trading.

Binance will soon offer users the ability to act as both lead and copy traders across various regions, starting with over a hundred spot pairs and expanding gradually. A lead trading tournament from April 24 to May 8 precedes the feature's official launch on the Binance app, enabling traders to solidify their portfolios.

This feature complements existing tools like dollar cost averaging and rebalancing bots, helping users navigate the 24/7 market by reducing emotional trading and promoting effective strategies with diversification and risk management options.

Lead traders utilizing the futures copy trading service must separately register for spot copy trading. Spot copy trading offers enhanced flexibility for managing market approaches.

Binance sees spot copy trading as beneficial for newcomers, offering a learning environment before venturing into futures trading, with a focus on liquidity and reduced slippage compared to other platforms. While specific user percentages remain undisclosed, spot trading is poised to attract a broader audience due to lead traders engaging with more copy traders.