Common Questions for Followers
Q: How do I set up copy trading?
A: On the Megabit platform, users can customize their copy trading parameters based on their preferences, including the following:
Select trading pairs: Followers can specify the futures trading pairs to copy, such as BTC/USDT, ETH/USDT, etc.
Leverage settings: Two options are available for leverage:
Fixed leverage: Users can manually set a fixed leverage multiplier.
Follow elite trader's leverage: The system will automatically sync the elite trader's leverage settings.
Margin settings for copy trading: This can be configured in the following ways:
Fixed margin: Each copy trade will use a fixed margin amount pre-set by the user.
Proportional margin: The margin is determined based on the elite trader's position size and a ratio set by the follower. For example:
If the elite trader opens a 2 BTC position and the follower's ratio is set to 2x, the follower will open a 4 BTC position.
Q: Why didn’t my order copy the trade?
A: Copy trade failure can occur under the following scenarios. The platform will notify followers via in-app notifications:
Insufficient funds: The copy trading account balance is not enough to meet the position requirements.
Unselected trading pair: The elite trader's selected trading pair has not been chosen by the follower.
Margin limit exceeded: The copy trade margin exceeds the follower's maximum limit or is below the minimum required margin.
Significant market volatility: If the price difference between the elite trader's entry and the follower's entry becomes too large, the system will prevent the trade for the follower's protection.
Q: Why is the elite trader making a profit, but I am losing money? Why is my ROI different from the elite trader's?
A: Differences may arise due to the following reasons:
Missed add-on positions: If the elite trader increases their position size, but the follower cannot due to insufficient funds, unmatched trading pairs, or margin limit settings, this can affect overall profitability.
Margin mode differences: If the elite trader uses varying amounts for each position, but the follower is set to a fixed margin mode, the entry price and overall position size may differ, leading to different outcomes.
Q: How is the elite trader’s profit share calculated and distributed?
A: Profit shares are automatically deducted and locked when each copied order is closed. If additional profits are generated, the share increases. In cases of losses, the profit share is refunded based on the net profit.
The formula is:
Daily net profit (realized PnL - fees) × profit-sharing percentage = Elite trader's profit share
The specific amount can be viewed under the "Profit Sharing" section on the "Funds Statement" page. Profit shares are distributed daily at midnight, provided the elite trader has no open positions.
Common Questions for Elite Traders
Q: How do I apply to become an elite trader?
A: Navigate to the Copy Trading page and click on the "Become an Elite Trader" button in the top right corner. Complete the required steps and submit your application. The Megabit team will review your request within one business day.
Q: When will my profit share be distributed?
A: Profit shares are settled daily at midnight. Once settled, the profit share is automatically credited to your copy trading account. If you have open positions during the settlement time, the profit share will be calculated and distributed on the next trading day.
Q: How is my profit share calculated?
A: The formula for profit share is as follows:
Profit share = Total realized profit from followers (realized PnL - fees) × profit-sharing percentage
If there are multiple trades, losses will be deducted from profits before calculating the net share. Profit shares are locked before settlement and will only be distributed after settlement. The exact amount can be viewed under the "Profit Sharing" section on the "Funds Statement" page.
Q: How can I cancel my elite trader status?
A: To cancel your elite trader status, go to the "My Copy Trading" page under the Copy Trading section and click "Cancel Elite Trader Status."
Elite Trader Operations and Guidelines
Steps to Apply as an Elite Trader:
- Go to the Copy Trading page from the website or app homepage.
- Click "Become an Elite Trader" and complete the application form.
- Submit your application. A specialist will review it within one business day.
Important Notes:
- If you are currently following another elite trader, you must cancel the follow settings before applying.
- You cannot apply if you have open futures positions or active orders; these must be closed or canceled first.
- During the review process, you cannot follow another elite trader. If your application is rejected, you may resume following other elite traders.
Conditions to Start Copy Trading as an Elite Trader:
- No open futures positions or active orders in your account.
- A minimum of 500 USDT available in your futures account (account equity must remain above 500 USDT to stay listed in the copy trading hall).
Copy Trading Setup for Elite Traders:
- After approval, go to the "My Copy Trading" page to configure your copy trading settings.
- You can select specific trading pairs for copy trading (at least 1 pair must be enabled; all pairs are enabled by default). Orders on disabled pairs will not be visible to followers or included in copy trading.
- To initiate copy trading, place trades on the futures trading page for enabled pairs.
Points to Note for Elite Traders:
- Each copy trade must meet the minimum position value requirements.
- Elite traders can set take profit (TP) and stop loss (SL) for positions after opening them.
- All trading rules for elite traders are the same as those for regular futures trading.
Managing Copy Trades:
- Use the "My Copy Trading" page to view current trades, follower details, and estimated profit shares.
- Close positions at optimal levels. When a position is closed with profits, the follower's profit is shared with the elite trader based on the agreed profit share percentage.
Additional Notes for Elite Traders:
- Estimated profit shares are displayed as "Today’s Estimated Profit Share" but may vary. The final amount is shown under the "Profit Sharing" section.
- Megabit does not deduct profit shares from losing trades.
- Profit shares are settled daily at midnight and distributed accordingly.
- Followers must close all positions copied from the same elite trader before profit shares are distributed.
Common Questions for Followers
Steps to Start Copy Trading as a Follower:
- Go to the Copy Trading page from the website or app.
- Select an elite trader:
Search for a specific elite trader by username.
Browse the elite trader hall and choose based on performance metrics.
Click on an elite trader's profile to view detailed information. - Configure copy trading settings:
Trading pairs: Select the pairs you want to copy. Only chosen pairs will be included in copy trading.
Leverage: Choose between a fixed leverage (default is 5x) or match the elite trader's leverage.
Margin per trade: Set a fixed margin (10-10,000 USDT) or a multiple of the elite trader's position value (1-20x).
TP/SL ratio: Automatically close positions at specified profit or loss levels (optional).
Max position margin: Set a limit for the total position value copied from the elite trader.
- After setup, monitor your trades in the "My Copy Trading" section. You can edit your settings at any time.
Points to Note for Followers:
- Existing elite trader positions are not copied; only new trades will be copied.
- Copy trades execute at market price.
- Followers can close copied positions manually.
- Insufficient funds or exceeding max position limits will prevent trade copying.
- If the elite trader's order is forced liquidated, the follower's order will also be liquidated.
Profit Sharing for Followers:
- Profit shares are automatically deducted and distributed when a copied trade is closed.
- For multiple trades, profit sharing occurs only after all trades are closed and net profit is calculated.
Other Notes for Followers:
- Followers can follow up to 3 elite traders simultaneously.
- You can cancel following an elite trader at any time, but any existing positions will automatically close.
- If an elite trader removes you as a follower, you will not copy new trades but can still close existing positions.
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