Cryptocurrency exchange Binance has announced changes to the Binance Copy Trading trading conditions.
Effective today, February 21, 2024, Binance Copy Trading will be introducing leverage limits for lead trader portfolios.
Lead traders will be allowed to open new positions only with up to 5x leverage when their respective portfolios’ Assets Under Management exceed 1 million USDT.
Binance said:
“Fellow Binancians,
As part of its risk control measures, Binance Copy Trading will be introducing leverage limits for lead trader portfolios.
Effective from 2024-02-21 08:00 (UTC), lead traders may only open new positions with up to 5x leverage when their respective portfolios’ AUM (Assets Under Management) exceed 1,000,000 USDT.
Lead traders with an AUM of 1,000,000 USDT or lower are not impacted.
This will help copy traders reduce their exposure to lead trader portfolios and mitigate risks, thereby better protecting users”.
