Dear users,

To provide quality service and improve users' Copy Trading experience, BingX will upgrade its Copy Trading function along with the launch of APP v2.38.5. Please stay tuned to the update. Looking forward to this can bring you a better trading experience!

Update Details:

  1. Copy traders can introduce their trading data from Binance via API, which can display their real trading performance in a more comprehensive way.
  2. Calculation Change of Profit Rate: 
  • Remove the Cumulative Profit Rate
  • Display the 30-Day Profit Rate instead
  • 30D Profit Rate = (1 + Week 1 Profit Rate) * (1 + Week 2 Profit Rate)*(1 + Week 3 Profit Rate)*(1 + Week 4 Profit Rate) * (1 + Week n Profit Rate) - 1

Explanation of Profit Rate: 

According to the formula, if any week's profit rate is -100%, the overall profit rate will be -100%. Therefore, in order to avoid this situation, copy traders need to trade properly and treat their followers responsibly. In case of forced liquidation in extreme markets, copy traders need to deposit and start trading again within the week since the time factor of the profit rate calculation is based on one week. So as to make sure the profit rate of the week is not -100%. Please note that the week statistics refer to the calendar weeks.

 

  1. After this update, the overview of the copy traders' data indicators are as follows.

Terms

Definition in BingX

Definition in Binance

Account Assets

USDT assets in Standard Contracts Account; Data updated every 30 minutes.

Assets of Binance USDT contract account; The data is updated every 30 minutes.

30D Profit Rate

A new calculation method is applied to the 30D profit rate.

30D Profit Rate = [ (1 + Week 1 Profit Rate) * (1 + Week 2 Profit Rate)... * (1 + Week n Profit Rate) - 1]*100%


Profit rates will vary along with the changes in the unrealized PnL of positions. Data is updated every 30 minutes.

A new calculation method is applied to the 30D profit rate.

30D Profit Rate = [ (1 + Week 1 Profit Rate) * (1 + Week 2 Profit Rate)... * (1 + Week n Profit Rate) - 1]*100%


Profit rates will vary along with the changes in the unrealized PnL of positions. Data is updated every 30 minutes.

Cumulative PnL

The total PnL of USDT assets in Standard Contract Account, excluding Funding charges and profits generated from bonus orders. The data is updated every 30 minutes.

The total PnL of Binance USDT contract account, excluding Funding charges and referral income. The data is updated every 30 minutes.

Max. Drawdown

The maximum value of the drawdown of the Share Trading Account from the highest profit rate to the lowest profit rate since the first trade. The smaller the value, the better the risk tolerance of the trader. Data updated every 30 minutes.

The maximum value of the drawdown of the Share Trading Account from the highest profit rate to the lowest profit rate since the first trade. The smaller the value, the better the risk tolerance of the trader. Data updated every 30 minutes.

Cumulative Earnings of Followers

The cumulative earnings of all followers who have followed the copy trader. Data updated every 30 minutes.

The cumulative earnings of all followers who have followed the copy trader. Data updated every 30 minutes.

Followers

Number of users who are following the trader. Data updated every 30 minutes.

Number of users who are following the trader. Data updated every 30 minutes.

 

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BingX reserves the right in its sole discretion to amend or change or cancel this announcement at any time and for any reasons without prior notice.

 

Risk Warning:

Trading digital assets and their derivatives is highly leveraged and risky and may result in partial or total loss of account funds. Before conducting spot/contract trading, investors must ensure that they understand the nature and rules of spot/contract trading, and decide whether to participate in spot/contract trading based on their investment experience, goals, financial status, and ability to bear risks.

BingX Operation Team

2021/09/09