What do I need to do on Binance?
You need to have a registered account on Binance to use Tradelize mirroring. If you don't have one, please use this link
You will need to deposit money into your balance (or do an internal transfer) for your registered Binance USDT-Futures account before the you start the Tradelize Mirroring service
Activate your Binance USDT-Futures account. You need to complete all the forms required by Binance in order to have a futures account.
You need to create API-keys from your exchange account and add them to your Tradelize profile. You need to to give permissions to create or execute orders for your API-keys. Tradelize's copytrading system can't send signals, trades, margin, and risk limits without this enabled.
Are there any fees that I have to pay as a trader who offers copy trading?
In order to create an offer, you need to go into your account profile on the Tradelize portal. Nearby the "Mirroring" button, press "+" and then go through the remaining steps.
How can I make money using Tradelize's copy trading service?
When creating an offer for copy trading, you can choose the monthly fees (the cost to your Mirroring subscribers) that users of the portal will pay to use your services.
What is algorithmic auto-copying?
Each subscriber is able to choose the copytrading algorithm they want.
In a "Copy Now" subscription, there will be a full copying of all outstanding orders and open positions that the trader has, all in proportion to the subscriber's balance. Leverage and margin will will be calculated as analogs to the trader's exposure. During this process, the positions the subscriber establishes may be significantly different from the prices the trader had when they originally entered the trade. All new open positions after the first copy is complete will be opened at the same price as the trader gets, and besides some small market disruptions, should be as close to the trader's as possible.
For example, if a trader has a full balance of 100,000 USDT and has 1 open BTCUSDT contract with a leverage of 1x, then if the investors has 10,000 USDT, he will buy a market order for 0.1 BTCUSDT contracts, with a leverage of 1x, since his balance is 10 times less than the trader's.
With this algorithm, users will copy an entire portfolio regardless of the asset prices they enter the market at.
A "Copy New" subscription will only copy new trades that a trader executes after the subscription begins. Copying positions that were already open when the trader subscribed will occur only after they are fully closed (the number of contracts of each position should be exactly 0).
For example, if a trader has a limit order to buy BTCUSDT, but at the time of subscription he does not have any open positions for this contract, then the system will automatically complete the trade for the subscriber if the trader's order is executed. However, if the trader has a buy/sell order for BTCUSDT contracts and he already had open positions at the time of subscription, then the order will not be copied to the subscriber, and a BTCUSDT position will be opened only after currently open positions are closed.
With this algorithm, the user will copy the entry and liquidation prices identical to those of the trader.
What information can I see about users who copy me?
You can track every open order and position of your subscribers in real time in your account.
What happens on my exchange account once I offer copytrading?
The Tradelize system will take a snapshot of margin and overall balances, open orders, and open positions.
What operations does the service track and copy?
Tradelize's Mirroring (Copy trading) System Will:
-Track your current margin and overall balance
-Track deposits and withdrawals on the connected account
-Copy all types of orders with all the order parameters
-Copy leverage, type of margin, risk limit, and all changes to these options
-Track and copy the trade mode (Hedge or OneWay)
Are there any operations that the Tradelize auto-copying system will not copy?
If you change your margin collateral manually, then the system will not copy this action for your traders. Instead, any future disparities from this position in your subscribers' accounts will be automatically balanced out by the system.
If your balance is much larger than that of a subscriber, then occasionally the system will not be able to proportionally copy orders and positions to the subscriber's account for certain contracts. If this happens, you can simply not copy the position. There are also situations where a trader trades contracts with large margin collateral, but small leverage. Positions that can significantly violate the proportionality of the users funds will not be copied. For example, if a trader has 2000 USDT in their account, then opens a 0.01 BTCUSDT contract position, with 1x margin, and the margin collateral is 200 USDT, then subscriber, with balance of 200 USDT, cannot open such a position because the minimum amount of collateral for the contract would freeze up your entire balance, and thus violate the principles of balancing. Sometimes, a small balance will not let you take a proportional positions, since it will not meet an exchange's minimum.
Likewise, if your exchange balance is much smaller than the subscriber's balance, then in certain high-leverage situations the exchange might execute an order that adds more than the assigned risk limit to a subscriber's position (please read the exchange's rules and maximum positions when using leverage). You as a trader, with a low balance and maximal leverage, may take a position that does not violate the rules of the exchange or be too high for the exchange's volume. However, the subscriber's account might not be able to execute the order completely, or may not execute it at all (please familiarize yourself with Binance's margin trading rules).
We also suggest that you familiarize yourself with the Futures API Trading Quantitative Rules and take into the account the exchange's rules in order to prevent unforeseen restriction on trade because of a mishap through the API keys.
Can I deposit/withdraw funds from my exchange account while I'm subscribed to a trader?
From the moment a subscription starts, deposits, withdrawls, or any other funds transfer through a Binance USDT-Futures account will affect the balancing of a subscriber's positions. The size of active orders may not change instantaneously. The Automatic Position Rebalancing Service will change the size of orders in order to correct for discrepancies. The system should automatically tweak a subscriber's orders and positions so that their portfolio remains correctly proportional to the trader's.
Can I change or update my API keys while I have mirroring running?
Once you offer Tradelize Mirroring, you cannot delete your API keys. If you delete your keys in the Tradelize system or on the exchange, the system will automatically record any total balance changes on subscribers' accounts (profit and loss from the moment of subscription). If the API keys are not replaced right away, then the result of this profit and loss will be considered final for the subscriber.
It is possible to change API keys without subsequent difficulties if all orders and all positions are canceled and closed before the API keys are deleted.
What happens if I delete my API keys?
If a trader has open positions or orders, then at the time of the deletion/loss/change of the API key all orders will be canceled and all positions will be closed for mirroring subscribers to that trader.
Can I unsubscribe a user who subscribed to mirroring that I don't want?
You do not have the ability to unsubscribe a subscriber. By offering Mirroring, you must accept any user as a subscriber, and likewise allow any user to unsubscribe.
Futures trading carries a substantial risk and the possibility of both significant profits and losses. Past gains are not indicative of future returns. All of your margin balance may be liquidated in the event of extreme price movement. All trading strategies are used at your discretion and your own risk. Tradelize will not be liable to you for any loss that might arise from your use of Futures.