New Copy Trading Approach from Crypto Exchange Woo X

Cryptocurrency exchange Woo X has introduced a “more advanced and fairer version” of copy trading, which involves trading by imitating the market activity of experienced traders.

Copy trading, or “social trading” as Woo X calls it, is not a new term in either crypto or traditional finance. The method was popularized by fintech platform eToro and the service is also offered by many major crypto exchanges like Binance and OKX.

But according to Woo X COO Willy Chuang, some changes need to be made to the current model and the pressure on leading traders to outperform needs to be reduced. All of this has led Woo X to add a “countertrade” option.

“We did extensive research and identified pain points for users,” Chuang says of the service. “Most of the feedback was that copy trading was misleading or unsustainable. So we introduced a higher profit threshold that protects users and ensures that profits are only shared with lead investors when portfolios are truly profitable.”