Some thoughts on the copy trading market: Currently, many exchanges' copy trading models have obvious vulnerabilities. Many operators use very small amounts of capital to leverage large copy trading limits, adopting aggressive short-term strategies to quickly accumulate profits. The last wave of large reverse trades can completely wipe out the accounts of copy traders. This situation occurs frequently; copy traders’ investments of millions or even tens of millions of dollars are wiped out instantly, with no recourse for compensation. Clearly, this is not a normal market condition.

It is recommended to consider establishing a margin system to address this issue. The specific approach is:

**Core Mechanism**—Copy traders must deposit a corresponding margin before starting the copy trading service, with a ratio set at 10% or 20% of the total copy trading limit. This margin is frozen during the copy trading period. If the operator’s actions cause the copy trader to be liquidated, the margin will be used to compensate the affected party.

**Limit on Limits**—The margin is linked to the maximum copy trading limit that can be taken. For example, if a deposit of 20,000 USDT is made with a profit-sharing ratio of 10%, then the maximum total copy trading limit for that account is 200,000 USDT. This cap is rigidly enforced; no matter how many people copy, it cannot exceed this limit.

This design can effectively curb reckless, gambler-like behavior. Only operators with real strength and stable strategies will be willing to deposit the margin, thereby protecting the interests of copy traders at the institutional level. A well-regulated market order is essential for long-term healthy development.