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Copy Trading to Support USDT-margined Contracts

Author: Alan W. Date: 2023-05-12 07:22:32

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Dear Users,

In order to improve our user experience and trading liquidity, Phemex plans to upgrade our Copy Trading feature between May 22 – May 29, 2023. After the upgrade, Phemex copy trading will support many USDT-margined contract trading pairs with more to be added in the future. Details are as follows:

2:00 UTC on May 22

  • Stop all new copy trading requests for USD-margined trading pairs. When top traders open or add to USD-margined positions, copy trading mechanisms will no longer be triggered (note that this only impacts copy trading function, the actual position will still be opened or increased as the trader wants).

2:00 UTC on May 29

  • A period of one week is reserved for top traders to close their USD-margined copy trading positions. For any positions that are not closed, at 2:00 UTC on May 29th the system will close corresponding positions of copiers at the market price, then carry out that week’s copy trading profit sharing. Note that the top trader’s positions will not be closed, only those who are copying the top trader will have their corresponding positions closed.
  • USD held by the user will be converted to USDT at most optimal conversion rate

4:00 UTC on May 29

  • USDT-margined contract pairs now support copy trading. If top traders want to have others copy them, they can open a position in a supported USDT-margined pair, then copy trading will be automatically activated. Note that all USDT-margined pairs only support copy trading in hedge mode.
  • Users who are copiers will not experience any direct impact from this upgrade

Newly supported USDT-margined contracts assets for copy trading will be:

  • BTC
  • ETH
  • XRP
  • ARB
  • LTC
  • SOL
  • DOGE
  • FTM
  • APT
  • ADA
  • MASK
  • CFX
  • BNB
  • BLUR
  • LINK
  • STX
  • LDO
  • OP
  • DYDX
  • GRT
  • FIL
  • CKB
  • XLM
  • HOOK
  • GALA
  • LQTY
  • ATOM
  • INJ
  • DOT
  • TRX
  • APE
  • SNX
  • IMX
  • ALGO
  • XMR
  • EOS
  • DASH
  • AVAX
  • BCH
  • MANA
  • CRV
  • SAND
  • UNI
  • NEAR
  • MKR
  • 1000SHIB
  • AAVE
  • ICP
  • BAT
  • ONT
  • WOO
  • AR
  • ONE
  • COTI
  • ZIL
  • ENJ

If you are a copier user, you do not need to take any actions. If you are a Top Trader, please trade USDT-margined contracts after 4:00 UTC on May 29, 2023 to activate copy trading.

Happy Trading!

Phemex Team

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