1. How can I copy trades from traders on Snap Social Trading?
The good news is that you can follow multiple traders on the SnapSocial platform - all at once. After you make the decision to follow them (always do your own research beforehand), their trading actions will be fully aligned with yours. You simply need to take the following steps and that’s it!
a. Open the app and view the trading data
b. Fill out all the copy trade settings
c. After doing all this, hey presto! You’re good to get started.
Following this, there are a number of key items that you need to be aware of.
a. You can’t add margin for copied orders.
b. The original trader’s orders determines the timing of the copy order.
c. Market orders will be the executing factor behind copy orders.
2. Is there any way I can view my trading Data?
One of the things we pride ourselves on at SnapEx is simplifying the entire trading experience. All you need to do to view the copy trading data is go to the copy trading tab and then view ‘positions’. That’s all there is to it!
But there are a few additional things that you can do that are not available on other platforms.
a. A lot of copy trading functions don’t allow you to set your own Stop-Loss and Take-Profit. We do. We make risk management much easier for traders and users alike.
b. How is the trader doing? You can view all their available trading data simply by going to their tab.
c. You can easily view the traders you are copying all in one go and you can look at how much they are making for their followers. This is one of the vital steps in the due diligence process for you, making it easier for you to decide what’s best for you.
3. Is choosing the copy trade settings really that simple?
It’s very simple to choose the copy trade settings that are right for you.
a. You are able to alter the maximum margin that is best suited to your needs.
b. You are also able to change the initial principal.
i. This is a case where your following margin equals your trader’s margin. * (Follower’s Principle / Trader’s Principle)
c. You can set the ratio of a single trade margin
i. Following Margin = Trader’s Margin multiplied by the Ratio of Single Trade
d. Minimum Margin
i. Pretty self-explanatory!
4. What do I need to do to cancel copy trading?
Sometimes things don’t go according to plan and you don’t get the results you anticipated. That’s ok - SnapEx allows you to unsubscribe anytime you’d like. That means that you’re no longer copying the trader you have canceled. There’s just one snag - Orders that were previously placed by a trader that are still open will still be ‘open’ until the trader closes them. There are steps you can take, however, to change this.
a. Actively Canceling: All you need to do is edit the copy trade settings and cancel.
b. Passively Canceling: When your net loss is higher than your principal, you will automatically stop following the trader in question.
5. Copy trading and a normal order — Is there a difference?
There are a very few key differences that you need to note (notebooks out!)
a. You can’t add margin to orders that you have copied
b. You can modify the stop-loss and take-profit on copied orders. When a trader modifies, however, these will be overwritten.
c. The trader’s order will determine the chosen leverage.
d. Market orders determine the copied orders (Need to include that bit, ya know!)
1. How can I become a Trader on Snap Copy (Yes, the one that’s copied)?
You can take the initiative to apply to become a trader by going to either the web or app version. When you meet the following requirements and our due diligence team approves you, you’re good to go.
a. Make sure you deposit over 500 USDT
b. Maintain a balance of over 500 USDT
c. Historically, you have traded 5 times on SnapEx (meaning you have placed 5x orders)
d. No Ordinary Orders (both limit and market)
e. You are not following any traders
f. You are not copying trading orders
Be sure that you meet the above conditions before applying, otherwise you’ll have a frustrated due diligence team having to reject you.
2. After I complete the above steps, am I good to go?
Not quite! The community needs to know more about you before you’re able to get started, but this is insanely simple!
a. Trading Name
i. You’ll need to go by a display name within the social trading side. You can call yourself The Big Machismo, a generic name like ‘Fred’ or ‘Chloe’ or anything you’d like, but you’d need a name to go by.
i. We all need filters on an app, and this is the system we go by
i. This is the overall investment size
d. Share Profit Percent
i. This is the amount you get from your follower - That is why you need to rock copy trading.
3. Wait, I care about my privacy! Will my followers know everything about me?
Not at all! They won’t have access to any of that information, but what they will be able to see is the following
a. Lifetime Status: This is the amount of time you’ve been a trader for.
b. Return Rate: Basically, how much gets back to the people copying you
c. Win rate: We all love to back winners - Potential followers need to see what you’re made of!
d. Transaction Number: The amount of transactions you have place
e. Principal: This is just the investment size.
f. Share Profit Percentage: This is simply the profit you share (does as it says on the tin!)
g. Follower Count: The total number of followers.
Note: You can view all orders on your copy trade page alongside the profit sharing and daily profit sharing overall (settled at midnight every night).
4. Is there anything I can do to alter the stop-loss percentage?
5. Can I manually close the position?
Absolutely - All you need to do is go to the ‘position’ tab and follow the necessary steps there.
Trader Code of Conduct
- Disagreements can happen - You can come to us if there are any problems and we will happily help you resolve any issues. Expressing opinions damaging to the reputation of SnapEx is a big no-no
- We’re all ambitious, but no promising earnings.
- Don’t go crazy - High-risk, high-reward strategies ain’t cool!
- Meaning that we can revoke the trading status of those traders who do that.
- Likewise, that means you’re not able to disclose too much information about yourself. Stick to your nickname. Invite traders to join you on other platforms will get you the boot.
- Don’t use multiple accounts - Use one and one only as a trader.
- That also includes setting up a lot of fake orders to boost numbers.
- If there are any other things that have serious consequences for the community or the community, you’ll be banished (sounded cooler in our heads when we were typing it, but you get the message)
Copy Trade Profit Distribution
- When closing the position, everything is automated.
- At midnight every night, the pnl and all that is calculated.
- If the frozen amount is greater than the profit distribution amount, the additional part is sent back to the follower’s account
- If the frozen profit amount amounts to less than the real profit distribution amount, the trader gets all the anticipated frozen amount
The follower is copying the trader
The Frozen percentage is 10%
The share profit percentage is set to 10%
Two orders were made, when the first order was closed, it had a profit of $100, the margin will be sent back to Follower, 90% of the profit will be returned to the follower; 10% of this profit will get frozen
The second order has a loss of $50, the margin minus the $50 will be returned to the Follower, and nothing needs to be frozen.
Pnl will be done at the end of every day: (order 1 (+$100) + order 2 (-$50)), total profit of the Follower today with the Trader will amount to $50. Assuming that the Trader has set the profit sharing percentage to 10%, the Follower has to pay the Trader ($50 * 10% = $5), $5 of Follower’s frozen amount will be sent to Trader as trading profit and the remaining($10-$5 = $5) will be returned to the Follower.
A total of two orders have been placed. The first order was closed. Its total profit amounts to $100, and as a result the margin will be returned to the Follower, and 90% of this profit will be given to the Follower, 10% of the profit will remain frozen.
The second order has managed to incur a loss of $150The margin, minus $150 will be returned to the follower and no amount needs to be frozen.
Pnl on all close orders will be calculated at the end of every evening (meaning midnight!)
Can I be both a Trader and Follower?
Unfortunately for the opportunists out there, that’s not possible! Everything is determined by your status, meaning that if you have become a Trader, you can’t also be a copier.
You are able to cancel your trading status anytime to become a follower.
As a trader, can I adjust the share profit percentage?
If you want to adjust the profit percentrage please contact our supoort.