Social Copy Trading is around the corner!
Oct 19, 2022
8:00 AM

I warned you, didn't I? You didn't think it was going to be over after the first 30 days of the marketplace, right?

I already told you about it a while ago, but it's now official, social copy trading is coming and it's coming fast guys! In a few weeks, you'll be able to test this new feature by yourselves!

What is it?

It may be clear to some, but it is necessary to make a little reminder. Copy trading is a form of portfolio management. The goal is to find other investors who have a track record that you would like to emulate. The copy trading process allows traders to follow the strategies of other successful traders. As with any trading system that a trader decides to use, it is best for traders to follow the investor before deciding to risk any real capital.

Copy trading can be useful for traders who do not have the time to follow the markets themselves. While copy trading can be lucrative, it also carries risks, and traders should remember that past results are no guarantee of future returns.

How does it work at Upbots?

Don't worry, we're not reinventing the wheel! In order to benefit from the new feature, you will have to create an API key on the centralized exchange platform and connect it to our platform. 

Then, just like for the trading algorithms, you will have a marketplace with the traders available for copytrading with all the information you need to make your choice. You will have access to the number of trades, the pairs traded as well as the history of the trades and the past performance.

And all this for free?

As for the Bot Creator, the social copy trading will first be in beta and accessible to all without paying anything. Once in its second phase, social copy trading will become a paid feature.

Why this service?

Some people have neither the time nor the desire to trade manually but still have difficulty trusting a trading algorithm. Knowing that a real trader is behind these positions can be reassuring for some. For others, it's simply another way (again) to diversify your portfolio.

What's next?

That's two major advances for the platform in a very short period of time, which is why we won't be announcing any major releases in the next quarter. Instead, we will be improving and adding features to both the Bot Creator and copy trading. Stay tuned!

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