TraderWagon aims to be a platform where both investors and traders can interact and gain mutual benefit from one another. Trading strategies and techniques are freely discussed by users on the platform with one objective in mind — increasing everyone’s trading knowledge.
How Does TraderWagon (TW) Work?
There are two main components to the TraderWagon platform: the lead trader and the copied trader. In basic terms, a lead trader is a more experienced trader who uses TW in order to showcase his trading strategies, while a copy trader will look to lead traders for experience and quite literally “copy” their trades.
Understanding both of these roles provides a solid understanding of how the whole TW ecosystem works.
Lead Trader
To become a lead trader, you have to submit an application through the official website. However, a deposit of 10,000 USD is required to activate a portfolio as a lead trader. At the moment, a single trader can only open two portfolios on the TW platform.
Some of the benefits of becoming a lead trader are the following.
- Lead traders have an earning potential of up to 10%, which is taken from the profits made by copy traders. In simple words, if a copy trader earns $10,000 profit, the lead trader can get up to $1,000 due to TraderWagon’s profit-sharing model.
- A lead trader can choose to become a crypto trading influencer. This can give them the opportunity to earn additional revenue by promoting crypto projects and also create their personalized community and engaged fan-following.
The benefits of becoming a copy trader are as follows:
- No prior experience is required if you want to copy other traders. However, if you want to pick and choose between lead traders, only some basic knowledge of crypto and some trading experience will be necessary.
- All user funds will be secured on Binance. When a user copies a lead trader’s portfolio, their funds will move to the TW wallet. For additional security, fund transfers are not done on-chain and the user’s funds remain safe on Binance.
- TW copy-trades have a fee of 0.05%. However, for futures trading, standard funding fees will apply on Binance. These fees are in addition to the 10% copy-trading profits that will be sent to the lead traders.
Selecting a portfolio to copy from a lead trader can be tricky; however, the secret is to go for traders with a long trading history with consistent profits.
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