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OKX Launches ‘Smart Sync’: A Copy Trading Feature Optimizing Accessibility and Risk Management for Traders
NASSAU, Bahamas, Feb. 28, 2024 /PRNewswire/ — OKX, a leading global Web3 technology company and crypto exchange, today enhanced its Copy Trading tool with the addition of ‘Smart Sync,’ an innovative feature that mirrors the trades of lead traders, with order margins being determined by the lead trader’s margin and the copy trader’s available funds. This replication encompasses the trader’s position size, margin and actual position, all without the requirement to manually adjust parameter settings.
After calculating the percentage difference between a user’s position and trading account size in real-time, Smart Sync automatically applies this percentage to the copy trader’s account to determine the position size, effectively synchronizing trade parameters such as leverage, margin and pair settings.
For example, if a lead trader has an account size of 10,000 USDT and places a 1,000 USDT position, this represents a 10% position size relative to the total account size. A copy trader who has activated Smart Sync and has an account size of 1,000 USDT would then copy the trade at 10% of their account size, resulting in a 100 USDT copy trade position size. This happens automatically, eliminating the need for manual adjustments and helps to reduce the risk of error, significantly streamlining the user experience for both copy traders and lead traders.
Smart Sync is introduced as the third mode in OKX’s Copy Trading ecosystem, complementing the other two modes: ‘Fix Contract Copy’ and ‘Proportionate Ratio Copy.’ In the Fix Contract Copy and Proportionate Ratio Copy modes, funds from a single source can be distributed across multiple lead traders on a first-come, first-served basis whenever a lead trader executes a trade. In contrast, Smart Sync is designed to automatically lock funds to a single lead trader. This prevents copy traders’ funds from being used across multiple lead traders, which helps less experienced users protect their funds from the risk of over-leverage through distribution. This not only reduces trading frequency but also ensures a more sustainable longevity rate compared to the other two modes, making it a beginner-friendly choice.
OKX Global Chief Commercial Officer Lennix Lai said: “The launch of Smart Sync is a testament to our ongoing innovation and leadership in the automated trading space. With Smart Sync, we’re ensuring that our users can trade with confidence. Additionally, our new feature simplifies users’ copy trading experience and enhances risk management. This latest upgrade to our Copy Trading ecosystem introduces a new mode that differs from the existing ones, enabling the product to cater to a more diverse group of copy traders – all with different levels of risk and parameter preferences.”
On November 10, OKX launched its ‘Spot Copy Trading’ feature. It is one of the few exchanges offering this feature. Spot Copy Trading enables OKX users to explore more trading opportunities by accessing both spot and futures markets, and serves as an optimal choice for users who seek the deep liquidity and stability that OKX provides while exclusively focusing on spot copy trading.
OKX’s Copy Trading comes with a range of unique features that set it apart from other copy trading platforms on the market. It is the only tool of its kind to offer both “one-way” and “hedge” position modes for the futures market. This means traders can choose to hold positions in only one direction or maintain both long and short positions concurrently, providing them with more flexibility in their trading approach.
For further information, please contact:
Media@okx.com
About OKX
OKX is a leading global crypto exchange and innovative Web3 company. Trusted by more than 50 million global users, OKX is known for being the fastest and most reliable crypto trading app for traders everywhere.
As a top partner of English Premier League champions Manchester City FC, McLaren Formula 1, Olympian Scotty James, and F1 driver Daniel Ricciardo, OKX aims to supercharge the fan experience with new engagement opportunities. OKX is also the top partner of the Tribeca Festival as part of an initiative to bring more creators into web3.
The OKX Wallet is the platform’s latest offering for people looking to explore the world of NFTs and the metaverse while trading GameFi and DeFi tokens. OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.
To learn more about OKX, download our app or visit: okx.com
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