Signals and Copy Trading services have been a core part of Zignaly for a long time, but due to the new direction Zignaly will take towards a Decentralized ecosystem, these services are no longer aligned with Zignaly's core business.

This is why we decided to discontinue these services, and encourage all Providers that have been with us during these years, to continue doing so with our flagship product: Profit Sharing.

This article seeks to resolve the most relevant questions that Service Providers may have about the alternative of migrating their services to Profit Sharing, what aspects will be different, and how it affects them.

What happens with open positions? Will I be able to continue managing my followers' positions?

When the Signals and Copy Trading services get discontinued, all positions will be cancelled and the services will disappear from the platform.

This means that all orders linked to those positions will remain on the exchange where the signals were executed, but each user will have to manage these orders by their own means on their own exchanges.

The right thing to do would be for each trader to contact his subscribers and give them indications on each of the positions that will remain open, or close them before July 1st.

I have not migrated to Profit Sharing before because the users cannot disconnect if I have open positions in Profit Sharing, can they do it now?

Yes, we have been working very hard on the functionality of Hard Disconnection that allows a user to disconnect at any time.

This functionality will be added to Profit Sharing with the release of the new Profit Sharing 2.0 update, which includes many improvements covering all aspects of the platform.

Can I migrate my service and stats so I don't have to start from scratch?

Yes, but it will not be an automatic process, and will not be applicable in all cases.

Profit Sharing services are completely independent services, so each trader will have to create a service from scratch.

One of the features that will be added is the possibility for traders to import trading history directly from their Binance accounts via API.

There will be cases where traders have used the same Binance account for multiple services, and this creates a conflict at the time of importing the history of trades.

I like the subscription fee format, why switch to the Success Fee format?

The Success Fee format has many advantages over the subscription format, for example:

  • There is no minimum for a user to copy your strategy. They can copy you with 1 USDT if they wish.

  • There is only one position, so everyone gets exactly the same results.

  • As a trader you don't have to worry about managing your followers' positions individually when they have a problem, as there is only one position, which groups the funds of all those who are participating.

  • You don't have to worry about a single user replicating your strategy with a lot of balance, as you as a trader will receive a commission on the profits generated by the total account.

  • You don't have to deal with subscriptions, expirations and renewals. Just concentrate on being as profitable as possible.

  • It is more attractive to subscribers, as they do not have to pay upfront, only if they make a profit.

  • For a trader who has a profitable strategy, it is much more profitable to charge Success Fee instead of Subscription Fee.

As you can see, it has advantages for both the trader and the subscribers, which translates into more active subscribers

How much more profitable is it for the trader?

We believe that the best way to answer this question is with an example, so let's do one.

Let's compare the results, in the case of having two parallel services, one in Copy Trading and the other in Profit Sharing, both of which have been running for twelve months.

In your Copy Trading service:

  • You have had an average of 100 active users per month.

  • You have generated an annual profitability of 120% (10% per month approximately).

  • Your Subscription Fee is 20 USDT per month.

You would have generated a total of 2,000 USDT per month (100 users x 20 USDT per month), which would give an annual income of 24,000 USDT.

In your Profit Sharing service:

  • You have managed 100k USDT in the service (Average of 1.000 USDT per user).

  • You have generated an annual profitability of 120% (10% per month approximately).

  • Your Success Fee is 30% (25% for you and 5% for Zignaly).

You would have generated a total of 2,500 USDT per month (100k x 10% profitability x 25% of your share of the Success Fees), which would give an annual income of 30,000 USDT.

Not only would you have earned more income, but it also represents less effort in the daily management of the service.

What should I consider if I want to migrate my Signals service to Profit Sharing?

If you had a signal service, and you want to migrate to a Profit Sharing service, you should keep in mind that in Profit Sharing services, traders are not only in charge of executing the signals, but of the whole strategy management, including capital management, risk management, Stop Loss levels, Take Profits, number of simultaneous positions, and everything related to the overall strategy. Remember that in Profit Sharing, there is only one position, and Service Provider is the one who makes the decisions about the whole strategy.

What should I consider if I want to migrate my Copy Trading service to Profit Sharing?

In the case of Copy Trading services, the change is much simpler, since they only have to move their current strategy from one type of service to the other.

Can I keep using the same signals format?

In the case of Signal Providers, they must adapt these signals to a strategy by adding a "positionSizePercentage" to all their signals. But the structure of the signals remains the same.

For Copy Trading Providers, they can keep using the same type of signals.

If I have subscribers to my Signal or Copy Trading services who have paid me months in advance, what should I do?

Each service provider must decide how they want to manage their own community, either by giving them a refund for overpaid funds, or with some secondary alternative.

From Zignaly we have incorporated an option for traders to individually edit the Success Fee percentage of each of their followers, so an alternative would be to charge those users who have overpaid for months, a 0% Success Fee for the same amount of months. For example:

If a subscriber has overpaid 3 months, and the trader creates his new Profit Sharing service, he can edit the percentage of this user individually and charge him a 0% Success Fee during this period of time.

Please contact Support if have any particular subject you would like to review.

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