TraderWagon Bridges Gap Between Experienced and New TradersNovember 11, 2021
TraderWagon is a new social trading platform that offers a copy trading feature with high liquidity and trading experience, and encourages investors to interact with one another and improve their trading strategies and techniques.
TraderWagon has listed ten popular cryptocurrency futures contracts and will introduce many more this month.
As the global crypto industry exceeds $2.7 trillion in market capitalization, a social trading platform like TraderWagon will help grow the trader and investor community. TraderWagon connects to Binance API, providing access to the largest crypto marketplace.
Traders can easily create and manage their copy trading portfolio without needing to transfer their funds out of their Binance wallet.
How Does TraderWagon Work
Copy trading is a growing area in cryptocurrency, where the trading activities of successful traders (“Lead Traders”) are copied by other traders (“Copy Traders”).
Lead Traders are usually experienced traders with a track record of profitable trades. Their success in trading often means they are well-recognized and influential in the crypto trading community.
Other Lead Traders may be less interested in recognition but still enjoy sharing their trading strategies with their followers.
Copy Traders can be less experienced traders who want to follow the trading activities of Lead Traders. Copy Traders may be motivated by the opportunity to learn from other traders or simply enjoy the convenience of allocating their trading portfolio according to how other traders do it.
TraderWagon’s technology connects Lead and Copy Traders’ portfolios. Lead Traders create their individual trading portfolio from which Copy Traders choose the ones they wish to copy in their own portfolio.
When a Lead Trader opens a position, it is automatically replicated in the Copy Traders’ portfolio.
Why Use TraderWagon
TraderWagon connects to Binance API to bring copy trading to the largest crypto exchange’s traders. By using Binance’s Single Sign-On API, traders simply use their existing Binance account log-in to conveniently and securely create their TraderWagon account and manage their copy trading portfolio.
All trading continues to be executed on Binance Future’s platform. Funds remain securely kept on Binance and are not transferred on-chain out of Binance, and profits are credited directly into traders’ Binance accounts.
This means traders do not incur any transfer fees or risk misplacing funds due to manual error.
TraderWagon uses a profit-sharing fee structure:
- Lead Traders: earn up to 10% of the profits of their followers
- Copy Traders: 10% fee is imposed on their copy trading profit
3-Month Fee Rebate Promotion
New Lead Traders can enjoy rebates of up to 100% of their trading fees for the first three months on TraderWagon. More details are available here: https://docs.traderwagon.com/announcement/latest-activities/fee-rebate-program
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