Bybit, which is the 2nd largest cryptocurrency exchange by trading volume, currently offers Copy Trading services for the Gold and Forex markets.
This makes Bybit the first cryptocurrency platform to introduce Copy Trading for these traditional asset classes.
Bybit Expands Beyond Cryptocurrency With Copy Trading
The new feature allows users to copy professional trading strategies for Gold and Forex directly in their MT5 account.
According to official announcementtransactions can be made using USDT as collateral. This makes it easy for users to participate in these markets without the need for advanced expertise or previous trading experience.
The Copy Trading feature allows users to automatically copy the trades of professional traders, providing an organized method for navigating the complexities of the Gold and Forex markets,” said Joan Han, Director of Sales Bybit Sales and Marketing, told TinTucBitcoin.
The service includes tools that help improve trading performance and accessibility. Users will have access to the strategies of experienced traders specializing in Gold and Forex.
Additionally, the platform provides features to effectively manage and distribute risk across trading portfolios. With MT5 compatibility, users can execute trades with ease while benefiting from support for multi-asset trading.
“This is a gateway to smarter and more efficient trading in traditional asset markets. This is a bold step forward in Bybit’s mission to empower every trader with the tools, resources and opportunities they need to succeed,” said Han.
Bybit’s growth comes against a backdrop of regulatory challenges. Last week, Bybit India announced it would suspend cryptocurrency trading and allow new account openings from January 12, due to regulatory changes. However, users can still withdraw funds during the suspension period.
Earlier this month, Bybit stopped offering cryptocurrency services in France due to increased regulatory tightening. However, the platform is actively seeking regulatory approval in other countries in the European Union.
Currently, Bybit is seeking a MiCA license in Austria. If achieved, this would place Bybit among the top exchanges operating under the new EU regulations on cryptocurrencies.
In November, Japan’s Financial Services Agency (FSA) sent an official warning to Bybit and four other foreign exchanges for operating without legal registration.
Regulatory challenges have not discouraged Bybit from expanding its services. In September, the exchange launched Liquidity Staking Token (LST) on the Solana blockchain, joining other major platforms in developing blockchain services.
Overall, the newly introduced copy trading features mark another significant expansion of the exchange.
