Bitget has added a new copy trading option to contracts for difference (CFDs). The move makes its platform accessible to more than just digital assets into the traditional financial markets. Through the offering, participants can duplicate trades of experienced traders in forex, commodities, and major indices without having to open positions manually.
Bitget Introduces New CFD Copy Trading Feature
The launch is timed with the CFD business of Bitget picking up pace. The crypto exchange recently registered a high of more than $6 billion in daily trading volumes. The heightened volatility in the world markets especially in the currency pairs, crude oil, and other assets like gold have encouraged more traders with crypto-interest in diversifying their exposure.
Although the involvement in macro-oriented trading strategies has been growing, it had mostly been limited to more advanced users. These users proactively track economic and global trends and monitor the economic data via crypto tools. Bitget’s latest feature is set to fill this gap, making access to retail participants easier. Gracy Chen, CEO of Bitget, remarked on Bitget’s CFD copy trading:
“More users are paying attention to macro movements because the opportunity set has widened beyond crypto alone. What matters now is making that access practical. Copy trading lowers the execution barrier for users who want exposure to global markets without needing to build that expertise from scratch.”
In addition, it is integrated with MetaTrader 5 (MT5), which enables a quicker onboarding process and simplified account management. The company has automated infrastructure that allows account creation and withdrawals to take place within several seconds. According to the company, this process eliminates delays that are normally experienced when using external brokerage services.
A Look At The Profit Sharing Model
For further context, the platform uses the ‘High-Water Mark’ model of profit sharing. Under this structure, users can only claim a share of profits once the followers reclaim past losses and achieve new profitability levels. It is a mechanism that aims at improving the relation between incentives that the traders and their followers have.
Performance indicators, such as returns and follower information, are updated every hour, as opposed to a delayed reporting mechanism observed on certain rival platforms. Profit settlements are made on a daily basis where the best traders can receive a profit share up to 30%.
Furthermore, the new feature acts as a part of Bitget’s strategy to standardize trading between asset classes. Users can use USDT as a margin to access various markets without necessarily having to move the money between different platforms or transfer assets to different currencies.
Source: https://coingape.com/bitget-rolls-out-cfd-copy-trading-amid-rising-demand-for-cross-market-exposure/