First of all, if you are a mainland citizen, you cannot be completely legal and compliant. Give up the illusion of nationality. If someone tells you to get a foreign passport, that is all a lie. You only need to live abroad for 183 days and some additional proof of residence; you don't need a passport at all! If you are doing transactions alone without exposing your activities, making or losing money is not a big deal. However, if you are bringing in clients, especially in private domains where they have your contact information and know your name, if you make money, that's fine, but if you lose money, the people who followed you can easily report fraud or fundraising, which is 90% problematic. We have encountered cases of illegal operations, illegal fundraising, and unauthorized use of foreign network tools... As a result, many smart leading teachers end up settling privately. Either they publicly take responsibility for losses and cannot expose any identity information. Currently, according to the Binance trading platform's description of the leading function, it is mirror trading and copy trading. Although it does not directly manage funds, the leading personnel do not have direct control over the funds in the accounts. However, it has already enforced the buying and selling behavior. Globally, this behavior is considered non-fund-managed asset management, but the fact that you cannot contact them and the objective function of the trading platform is a matter of user choice in the leading market, which is not a big problem!
So for mainland users, whether trading by themselves or doing copy trading, as long as they do not expose themselves and manage their OTC deposit and withdrawal risks well, there should basically be no major issues. However, if they want to engage in compliant private domain copy trading, if there are losses, they also need to be compliant without causing trouble, and the costs are not high.
