1.- What is TruBit Pro's Copy Trading?
TruBit Pro's Copy Trading is a streamlined trading mechanism where you can become a lead trader, allowing others to mimic your portfolio, or you can take on the role of a copier.
2.- Can I be both a lead trader and a copier simultaneously on TruBit Pro?
No! When using the copy trading function, you can only choose one role: either lead trader or copier.
3.- What changes can I expect when I change my status in the copy trading system?
When switching between the statuses of lead trader and copier in the copy trading system, there are notable changes:
If a lead trader becomes a copier, they will no longer be able to create pools. Additionally, the historical data of the pools they previously created will not be displayed in his/her account.
If a copier becomes a lead trader, they will not be able to join other lead traders' pools. Moreover, the historical data of the pools they previously joined will not be visible in his/her account.
4.- What types of contracts are supported for Copy Trading on TruBit Pro, and how might they change in the future?
At present, TruBit Pro's Copy Trading only supports USDT contracts, though this list might be tweaked as per market dynamics.
5. What are the differences in functionalities between a lead trader and a copier in the copy trading and the original perpetual contract feature?
There are two scenarios to consider, depending on your current status, to discern the differences:
If you are the lead trader in copy trading, its functionality is nearly identical to the original perpetual contract feature. You can set up stop loss, take profit, limit price, limit amount, market price, and market amount. Additionally, you can adjust the leverage range based on your risk tolerance and preferences. The only limitation in copy trading is that the lead trader can only choose the USDT contract, which is the sole difference from the original perpetual contract feature.
If you are a copier in copy trading, the difference from the original perpetual contract is that you don't have any control or authority to change settings. All pool control or settings are determined by the lead trader. You can only retrieve your funds when the lead trader closes the pool. Furthermore, you can not exit while the pool is still active.
6.- Does TruBit Pro support API trading for lead traders?
No, API trading isn't available for now.
7.- How many pools can a lead trader on TruBit Pro manage simultaneously?
A lead trader can manage only 1 pool at a time.
8.- How many pools can a copier on TruBit Pro join at the same time?
A copier has the flexibility to join multiple pools. However, it is essential to ensure sufficient funds are available before engaging with any pools.
9.- Does copy trading on TruBit Pro ensure returns?
Copy trading doesn't come with guaranteed returns and involves substantial risks. It's crucial to exercise prudent risk management and invest judiciously. For more details, please check Copy Trading Agreement.
10.- What income would I get if I were a lead trader?
There are two types of income that a trader may receive in TruBit Pro's Copy Trading:
The first is trader's Profit Sharing when the pool is profitable;
The second is the Fee Reward that the system may distribute, which is based on the volume of investment absorbed by the pool.
11.- How is the profit shared if the pool is closed?
After the pool closes, the system will determine whether it has a gain or a loss. If the pool generates a profit, the system will calculate the profit percentage and distribute the respective profit share, along with the original investment, to the copiers. The remaining percentage of the profit will be distributed to the lead traders.
12.- Is it possible to earn a Contract Referral Rebate when I invite friends to participate in copy trading?
Yes, if your invited friend participates in the copy trading, it will also be counted as valid according to the contract referral program rules. The specific rebate amount depends on the rebate rate you set up as well as the transaction fee actually incurred on the invitee's side. (Note: If your invited friend becomes a lead trader and creates a pool, the rebate will still be calculated on his own transaction fee, not the whole pool's.)
If you have questions regarding this information, please contact the TruBit Team via our chat channel or email us HERE and we'll be in touch!