How to Copy Trades in the Cryptocurrency Market. A Guide to Copy Trading on the OKX Exchange

In the world of cryptocurrencies, rapid technological development and the growing popularity of digital assets open up new opportunities for investors. One of the innovative tools helping beginners and experienced traders improve their results is copy trading. This method allows users to copy the trades of successful traders, minimizing risks and increasing profit potential.

The OKX cryptocurrency exchange is one of the leaders among platforms providing such services. 

In this article, we will take a detailed look at how copy trading works on OKX, what advantages it offers, and how to properly set up and use this service to achieve the best results in cryptocurrency trading.

Copy trading is available at the following link:

https://www.okx.com/ru/copy-trading

The trade-copying service for users who have registered on the crypto exchange as lead traders is divided into two separate sections:

On spot, the trader deals in actual cryptocurrency, while when copying trades on the futures market, the position is multiplied by leverage. So it can be said that trading risks are higher in the futures section.  

The exchange charges a fixed commission of up to 13% of the lead trader's profit, and these are all the expenses borne by the copying investor. In other respects, the copy trading service is similar to analogous platforms of Forex brokers, offering users the opportunity to follow a lead trader's account by configuring the copying parameters:

The copying process is completely transparent and automated. Trades are closed and opened automatically, following the trader's orders. The user does not need to constantly monitor their execution or stay online. There is no need to keep the site open.

All lead traders on the OKX crypto exchange go through a selection procedure, unlike the generally accepted rules of social trading, where any broker client can “share” their account for copying.

Strategy rating takes into account the social status of the account owner along with trading results. At the same time, the rating evaluates the use of capital in trades and the stability of results. 

The OKX cryptocurrency exchange offers a wide range of services for digital asset transactions. However, some products may be restricted in different jurisdictions and may not be fully displayed on the website, especially when visiting the online resource through a VPN.

A user planning to work with the OKX copy trading service needs to create an account and complete verification. This can be done using the corresponding option in the upper-right corner of the site:

Registered users will gain access to the full range of services, and copy trading can be found in the drop-down menu of the “Overview” tab:

Or directly via the link:

https://www.okx.com/ru/copy-trading

2. Go to the Copy Trading section.

3. Choose the market, either futures or spot.

When choosing spot, the trader will not have to worry about losing the deposit; that will happen only if the cryptocurrency selected for copying loses all value and falls to zero. This cannot be ruled out, because during a crypto winter many altcoins disappear, but on the other hand, there are only a few such assets in the OKX listing.

The futures market is dangerous because of a margin call on the lead trader's account and the forced closing of positions for the copier. A leverage limit, which will be described below when considering the interface, will help protect the account from complete ruin.

However, the copy trading service for crypto futures appeared earlier than spot trading. This allows the trader to make the right choice based on a large accumulated history.

Each section, spot and futures, has a selection of account cards arranged by strategy rating. The user can choose an account for copying independently by studying the statistics of lead traders, or go to the “More” tab.

This is a unique option for copy trading, created by the developers of the OKX investment service. On the “More” tab, the following lead traders are selected:

The difference between PnL and ROI is that the first parameter, PnL, shows how much money was earned or lost by the lead trader, while the second makes it possible to understand how effectively the investors' funds were used by the lead trader.

Personal recommendations for lead traders from the service will appear nearby in the “Feed” tab if the user begins working in copy trading. After studying the style, the OKX exchange will suggest suitable accounts for copying.

The investment platform for copying trades of the OKX crypto exchange displays  the strategies of lead traders in “Overview” mode or ranks them by six separate parameters:

The above parameters for filtering  accounts are the same for both the futures market and the spot market. However, for crypto futures there is also the option to choose algo traders by checking the API-traders option, as well as to give preference to local lead traders.

Traders have access to a search window for specific strategies and a filter by numerical values:

After the user decides on the work section (futures or spot) and the account, they can study the selected strategy in more detail by clicking the “Copy” button.

On the page that opens, most of the characteristics of the trading result are intuitively understandable even to a beginner:

The same applies to the general data, but it is in this section that there are two things requiring special attention.

Profit-sharing ratio: if in other copy services it is set by the trader himself, here the percentage of profit deduction from copying is determined by OKX. The higher it is (maximum 13%), the better the trader performs from the company's financial point of view.

On the equity line chart, drawdown is calculated in a peculiar way. The crypto exchange counts it as a minus if the trader goes into loss from the initial deposit, rather than from the maximum.

And it is also necessary to pay attention to the composition of the cryptocurrency portfolio. Here it is worth understanding exactly which digital assets generated the profit. And if meme coins or shitcoins dominate the account, the investor should be prepared for a volatile result.

In the picture below, all the coins in the portfolio are in the top 30 of the cryptocurrency market ranking. This is an example of a diversified and reliable choice of digital assets for the strategy.

If the personal statistics seen satisfy the user and they are ready to entrust funds to the lead trader, they need to go back to the top of the page and click the “Copy” icon on the right.

There you can also read the annotation written by the lead trader. If the lead uses algo trading, which is preferable for auto-following, there will be an “API” mark next to the nickname.

When choosing the futures trade copying mode, after clicking the "Copy" button, the menu for setting up auto-following an account will appear. The trader needs to choose the margin size for one trade and the maximum size for all positions.

The maximum size should take into account all possibly simultaneously open trades of the lead trader. In the example below, with $100 allocated for one position, the copier will repeat only 7 trades, since the maximum was set to $700.

Additional settings establish the margin mode:

The OKX service advises choosing the "same as trader" setting, but it is better to set isolated margin.

The trader should also limit all coin positions to leverage of 1 to 20. This can be done manually, as well as editing the list of assets for copying.

If the user wants to repeat orders for all of the lead trader's coins, they just need to check the "All" box:

The digital assets in the trader's portfolio may change, so it is worth setting the slider to auto-update contracts. This mode is located at the end of the additional settings, before money management:

The OKX exchange makes it possible to determine what total amount the user is ready to lose. You can also set the take-profit and stop-loss size for one order.

However, you should not orient yourself to the money management of the Forex market. Here the leverage is lower and the market volatility is higher.

Copying will begin when all settings are saved and the selected lead trader account appears in the Personal Account.

The commission amount is set by the exchange. This is the last field in the picture, where 8% is shown. The maximum commission is 13%.

Copying spot trades of lead traders on the OKX exchange has similar settings, only without choosing leverage.

You can stop auto-following an account by clicking on its line in the Personal Account.

The lead trader card will open, where in the upper right corner you need to click "Stop copying". In the dialog window, the user can choose the reason for refusing auto-following and click "Next". After that, in the new window, click the "Stop" button.

The account will automatically be unlinked from the lead trader, and all the margin blocked for work will return to the user's exchange wallet.

Unique options of OKX copy trading:

P.S. More trading materials are in our Telegram channel.
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