OKX, a Seychelles-based cryptocurrency spot and derivatives exchange, has added a copy trading feature to its digital asset social trading platform . The exchange announced the development on Tuesday.
With the copy trading tool, OKX explained, users are now able to reproduce the trading strategies of top performers on the platform to trade responsibly and reduce the risks involved in cryptocurrencies . These strategies cut across as many as 600 trading pairs, the exchange said.
The introduction of the copy trading tool comes less than a year (May 2022) after OKX created a feature that made it possible for traders to check the portfolio breakdowns, transaction histories, profits and losses as well as the risk levels of high-performing traders on the platform. With the new copy trading tool, these top traders will be compensated when other traders adopt their strategies and profit from them.
“In the last year, we have added a number of features that make it easy for new traders to follow or learn from other successful traders on the platform. Advancing social trading to include copy trading now adds more utility to the community of traders available to anyone on OKX,” Haider Rafique, OKX’s Global Chief Marketing Officer, explained.
Watch the recent FMLS22 session on how Gen-Z investors are trading in the markets.
Other Recent OKX Initiatives
The new copy trading feature is one of a number of initiatives OKX, which rebranded from OKEx at the start of last year, has introduced to its leading crypto trading platform in recent months. In late December, the crypto exchange partnered with DappRadar, an app store for decentralized applications (DApps) in order to provide its users with access to a broader base of decentralized finance and game finance applications.
Under the partnership, OKX included its Web3 Wallet on DappRadar’s platform in order to allow users to easily access their decentralized wallets while on the latter's platform.
Earlier in September 2022, the major cryptocurrency platform onboarded TradingView, a social network and charting platform, in order to empower its users to execute their crypto trade from their accounts on TradingView.
