Cryptocurrency exchange Binance has announced changes to its trading terms Binance Copy Trading.
Effective today, February 21, 2024, Binance Copy Trading will introduce leverage limits for portfolios with master traders.
Primary investors will only be allowed to open new positions with up to 5x leverage when the Assets Under Management of their respective portfolios exceeds 1 million USDT.
Binance said:
“Fellow Binancians,
As part of risk control measures, Binance Copy Trading will introduce leverage limits for portfolios with principal investors.
Effective 2024-02-21, 08:00 (UTC), master traders can only open new positions with up to 5x leverage when their respective portfolios’ AUM (Assets under Management) exceeds 1,000,000 USDT.
Master traders with AUM of 1,000,000 USDT or lower are not affected.
This will help copy traders reduce their exposure to portfolios of top investors and mitigate risks, thereby better protecting users.”