Binance is one of the most popular and trusted cryptocurrency exchanges in the world. It offers a variety of trading products and services, including spot, margin, futures, options, and more. But did you know that you can also become a lead trader on Binance and earn extra income from your trading skills?
Lead trading is a form of social trading that allows you to share your trading portfolio with other traders who can copy your trades automatically. You can set your own profit share percentage and trading fee commission, and receive rewards from your copy traders every week. You can also access the Binance futures leaderboard and see how you rank among the top traders on Binance.
In this article by Finestel, we will show you how to become a lead trader on Binance, what are the benefits of lead trading, strategies, essential skills and what are some alternatives and complementary tools that you can use to enhance your trading experience.
Who is a Lead Trader on Binance?
A lead trader on Binance is someone who lets other traders copy their trades. When a lead trader buys or sells something on Binance Futures, the same thing happens on the copy traders’ accounts. A copy trader can follow a lead trader’s moves and make money from them, without having to watch the market all the time.
A lead trader can choose how much money they want to get from their copy traders. They can get a part of the profit that a copy trader makes from a good trade. They can also get a part of the fee that a copy trader pays for every trade, no matter if it is good or bad. A lead trader can change these amounts at any time, and they will only affect the new copy traders who join them.
A lead trader can also see how they compare to other lead traders on Binance. There is a list that shows the best lead traders based on how much money they make, how many copy traders they have, and other things. A lead trader can use the list to show off their skills, get more copy traders, and compete with other lead traders for fame and prizes.
Read more about copy trading legality in our article “Is copy trading legal?“.
Core Skills for Thriving as a Binance Lead Trader
To be a lead trader on Binance, you need to have some skills and experience in trading cryptocurrencies, especially on Binance Futures. You need to have a good understanding of the market trends, the technical analysis, and the risk management.
You also need to have a consistent and profitable trading strategy that can generate positive returns for yourself and your copy traders. You also need to have good communication and marketing skills, as you need to attract and retain your copy traders and provide them with updates and feedback on your trading portfolio.
How Much Can I Earn as a Lead Trader on Binance?
As a lead trader on Binance, you can earn a 10% profit share and a 10% commission from your copy traders. The profit share is based on the PNL of your copy portfolios, and the commission is based on the trading fee they generate.
There is a cap for the weekly commission, which is calculated as the minimum of [Total trading fee 10%, copy portfolio margin balance 3% * 10%]. You can also earn extra income from the Binance Futures Leaderboard, as the top 10 lead traders will receive a bonus of up to 50,000 USDT every month.
Step-by-Step Process to Become a Lead Trader on Binance
To become a lead trader on Binance, you need to have a Binance account and complete the identity verification process. You also need to have some trading experience and a positive PNL (profit and loss) record on Binance Futures.
Once you meet these requirements, you can apply to become a lead trader by filling out the Elite Trader Application Form. You will need to provide some basic information, such as your name, email, country, and trading strategy. You will also need to upload a screenshot of your Binance Futures trading history and PNL statement.
After you submit your application, you will receive an email from Binance within 7 working days. If your application is approved, you will be able to create your lead trading profile and set your profit share percentage and trading fee commission. You will also be able to see your copy traders, your copy portfolios, and your rewards on the Binance Futures Copy Trade page.
If you are interested in exploring other Binance copy trading platforms, check out our comparison of the top 5 options in the article “Top 5 Binance Copy Trading Platforms Compared“.
How to Lead Trade on Binance Futures
Binance Futures is a platform that allows you to trade contracts that track the price of various cryptocurrencies. You can trade with up to 125x leverage and hedge your risks with different types of orders, such as limit, market, stop-limit, and stop-market.
To lead trade on Binance Futures, you need to create a lead trading portfolio and set your profit share percentage and trading fee commission. You can choose any USDⓈ-M Futures contracts that are supported by Binance Futures Copy Trading. You can also customize your portfolio name, description, and avatar.
Once you create your portfolio, you can start trading as usual on Binance Futures. The system will automatically copy your trades to your copy traders based on the copy mode they choose. You can monitor your portfolio performance and copy trader statistics on the Binance Futures Copy Trading page.
Binance Lead Traders Benefits
As a lead trader on Binance, you can enjoy the following benefits:
- A 10% profit share from your copy traders. You will receive a weekly settlement of your profits every Monday, based on the PNL of your copy portfolios. You will also receive profits when your copy traders stop copying your portfolio, when you close your portfolio, or when your copy traders withdraw profits from their copy portfolio.
- A 10% commission from your copy traders’ trading fee. You will also receive a weekly commission from your active copy portfolios every Monday, based on the trading fee they generate. There is a cap for the weekly commission, which is calculated as the minimum of [Total trading fee 10%, copy portfolio margin balance 3% * 10%].
- A chance to rank on the Binance Futures Leaderboard. You can see how you compare with other lead traders on Binance in terms of ROI, PNL, and followers. You can also gain more exposure and attract more copy traders by ranking higher on the leaderboard.
How to Create and Optimize Your Lead Trading Profile on Binance
Your lead trading profile is your online identity and reputation as a lead trader on Binance. It is where you showcase your trading skills, performance, and strategy to potential copy traders. It is also where you communicate and interact with your existing copy traders and provide them with updates and feedback. Therefore, you need to create and optimize your lead trading profile on Binance to attract and retain more copy traders and increase your income.
Some of the steps to create and optimize your lead trading profile are:
- Choose a unique and catchy username and avatar. You need to stand out from the crowd and catch the attention of the copy traders. You can use your real name or a pseudonym, but make sure it is memorable and relevant to your trading style. You can also use a custom avatar or a photo of yourself, but make sure it is clear and professional.
- Write a compelling and informative bio. You need to introduce yourself and your trading strategy to the copy traders. You can include some details about your background, experience, goals, and preferences. You can also highlight your achievements, awards, and recognition as a trader. You need to be honest and transparent, but also confident and persuasive.
- Set your profit share percentage and trading fee commission. You need to decide how much you want to charge your copy traders for copying your trades. You can set your profit share percentage and trading fee commission on your profile page. You need to balance the costs and benefits of your fees, as higher fees may deter some copy traders, while lower fees may reduce your income.
- Update your profile regularly. You need to keep your profile fresh and relevant to the copy traders. You can update your bio, avatar, fees, and other settings as needed. You can also post updates and tips on your profile page and social media accounts. You need to provide valuable and timely information to your copy traders and keep them engaged and satisfied.
How to Market and Promote Your Lead Trading Portfolio on Binance
Your lead trading portfolio is the online portfolio of your trading performance and results on Binance. It is where you display your trading history, PNL, ROI, and other metrics to potential and existing copy traders. It is also where you access the Binance Futures Leaderboard and see how you rank among the top traders on Binance. Therefore, you need to market and promote your lead trading portfolio on Binance to increase your exposure and reputation as a lead trader and gain more followers and recognition.
Some of the steps to market and promote your lead trading portfolio are:
- Optimize your trading performance and results. You need to demonstrate your trading skills and profitability to the copy traders. You need to have a consistent and positive PNL record on Binance Futures. You also need to diversify your portfolio across different contracts, markets, and strategies. You need to avoid excessive risk and leverage and manage your risk and capital wisely.
- Share your trading portfolio and results on social media and other platforms. You need to spread the word and showcase your trading portfolio and results to a wider audience. You can share your trading portfolio and results on social media platforms, such as Twitter, Facebook, Instagram, and YouTube. You can also share your trading portfolio and results on other platforms, such as blogs, forums, podcasts, and newsletters. You need to use hashtags, keywords, and tags to increase your visibility and reach.
- Engage and interact with your audience and community. You need to build and maintain a loyal and supportive fan base and network as a lead trader. You can engage and interact with your audience and community on social media and other platforms. You can answer questions, respond to comments, give feedback, and thank your followers and supporters. You can also collaborate and network with other lead traders and influencers in the crypto space. You need to be respectful, friendly, and helpful.
As a lead trader, it is important to market your services in order to attract high-net-worth investors and clients – check out our guide on “How to Attract High Net Worth Investors/Clients” for tips and strategies.
Finestel: The Best Alternative for Binance Lead Traders
Finestel provides innovative copy trading solutions that enable traders to efficiently manage client capital. Our technology supports across Binance’s spot and futures copy trading. For profitable traders with a community of followers, Finestel delivers the services you need to replicate trades at lightning speed while providing clients with portfolio trackers, billing systems, performance analytics, and more.
We offer two flexible copy trading plans:
Copy Trading Bot mirrors your trades to followers instantly. It’s ideal for starting out.
White Label Software is recommended for larger traders to launch a customized branded platform. Extensive customization features include:
- Custom brand name, logo, colors, themes
- Tailored sidebar menus and chart widgets
- Transactional email branding
- Integrated referral programs and MLM tools
- Branded Telegram bots for notifications
- Configurable copy trading capacity limits
- Custom domain integration
In addition to interface customization, robust features like integrated billing, P&L tracking bots, and full trade analysis empower complete control and transparency. Beyond core copying features, our private strategy marketplace allows you to showcase your proven trading strategies to attract investor capital.
For investors, Finestel facilitates partnerships with traders, providing advanced risk management and operational support.
In summary, Finestel delivers the ultimate customizable copy trading experience through tailored plans, extensive branding/interface options, and powerful features.
Becoming a lead trader on Binance provides an exciting opportunity to profit from your trading skills while helping others achieve success. Though it requires dedication and perseverance, lead trading enables you to earn income through profit sharing and fees from copy traders. To thrive as a lead trader, you must hone your trading abilities, attract followers through social media promotion, and continuously improve your portfolio’s performance. Services like Finestel offer the tools you need to manage investors and replicate trades at scale.
Overall, lead trading represents the future of social and copy trading. As more traders seek to emulate proven strategies, experienced traders can showcase their skills and monetize their knowledge. With the right preparation and marketing, you can build a highly visible lead trading profile on Binance. Partnering with supportive platforms like Finestel will provide you with the infrastructure to manage capital and operations efficiently. If you have the trading acumen and drive, lead trading presents an exciting opportunity to profit while empowering others to achieve success through smart investments.
What is Binance Lead trade?
Binance Lead trade is a form of social trading that allows you to share your trading portfolio with other traders who can copy your trades automatically. You can set your own profit share percentage and trading fee commission, and receive rewards from your copy traders every week. You can also access the Binance Futures Leaderboard and see how you rank among the top traders on Binance.
How can I apply to become a lead trader on Binance?
To apply to become a lead trader on Binance, you need to have a Binance account and complete the identity verification process. You also need to have some trading experience and a positive PNL record on Binance Futures. Once you meet these requirements, you can fill out the [Elite Trader Application Form] and submit it to Binance. You will receive an email from Binance within 7 working days. If your application is approved, you will be able to create your lead trading portfolio and start sharing your trades with other traders.
How can I copy the trades of a lead trader on Binance?
To copy the trades of a lead trader on Binance, you need to have a Binance account and complete the identity verification process. You also need to have sufficient funds in your Binance Futures wallet. Once you meet these requirements, you can go to the Binance Futures Copy Trading page and browse the list of lead traders. You can filter the list by ROI, PNL, risk score, trading style, and more.
You can also view the details of each lead trader, such as their portfolio name, description, avatar, profit share percentage, trading fee commission, and trading history. Once you find a lead trader that suits your preferences, you can click on the “Copy” button and enter the amount of margin you want to allocate to the copy portfolio. You can also choose the copy mode, either fixed ratio or fixed margin. The system will automatically copy the trades of the lead trader to your copy portfolio based on the copy mode you choose.
What are the risks and benefits of lead trading on Binance?
Lead trading on Binance has both risks and benefits. The risks include market volatility, trading losses, margin calls, liquidations, and platform issues. You should always do your own research, practice risk management, and trade responsibly. The benefits include earning a profit share and a commission from your copy traders, ranking on the Binance Futures Leaderboard, gaining more exposure and followers, and learning from other traders.