You see that "maximum drawdown" number on a trader's profile page, then you look at their impressive return rate and probably wonder: can I actually handle this kind of drawdown?
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On the OKX copy trading marketplace, traders with high returns but big drawdowns are everywhere. If you jump in just because the return looks high, you will most likely step on a landmine. The core of screening traders is not about how high the return is, but how wide the gap is between return and drawdown.
First, understand the official definition of drawdown
OKX officially splits "maximum drawdown" into two metrics. You can see both on the copy trading marketplace:
Historical maximum drawdown: the largest percentage drop from the trader's historical peak to the lowest point
Weekly maximum drawdown: the largest percentage drop within a single week
These two data points each carry a 10% weight in the trader composite ranking, calculated together with cumulative return rate (20%) and 30-day return rate (15%). This means the platform itself also considers drawdown an important dimension for measuring trader quality, not just how much they can make, but also how hard they can lose.
A painful real-world example
At the end of 2025, a top-ranked lead trader on OKX saw their 90-day return drop from +179% to -94.99%. Around 1,700 copy traders lost a total of about 726,000 USDT.
Looking back at their collapse path, the signals were actually very obvious:
Abnormally surging returns: by early October, the return rate exceeded 100%. A short-term explosive rise usually means excessive risk-taking.
Sharply increasing leverage: from 10x in September, gradually rising to 30x and 50x by November.
Repeated forced liquidation records: multiple large liquidations from September to November, showing that risk management had completely failed.
More importantly, early copy traders still made a profit, but latecomers may have lost over one million USDT. Same trader, different entry time, completely different outcomes.
Which numbers should you check
When you open a trader's profile page, do not only stare at that big return number. I suggest you check these five items at the same time:
| Metric | What to look for |
|---|---|
| Return rate | Look at the curve of "7-day vs 30-day vs cumulative", not a single number |
| Historical maximum drawdown | Ask yourself directly: can my account survive this kind of drop |
| 30-day return rate | Judge the trader's recent performance, not just past glory |
| Win rate | More winning trades does not mean more profit. Check it together with profit amount. |
| Assets under management (AUM) | After September 2025, the ranking display threshold has been raised to 100,000 USDT. Traders with too small AUM may not be on the list. |
There is also an easily overlooked cost: the profit you make from copy trading is subject to a 10% profit share paid to the trader. So your actual take-home return is about 90% of the return rate you see. You should factor this cost into your assessment of whether the return is truly high enough.
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Two practical steps
Step 1: Use "Composite Ranking" to filter on the copy trading marketplace
OKX's composite ranking already includes maximum drawdown in its calculation, making it more comprehensive than sorting purely by return rate.
Step 2: Click into the trader's profile page and focus on three things
Return curve: is it rising steadily or swinging violently? The latter means drawdown control is a problem.
Historical maximum drawdown and 7-day return rate: if the trader dropped 10% in the past week and you did not notice it before entering, you could be shaken out on day one.
Leverage on recent trades: if trades above 20x appear frequently, this trader's style is quite aggressive.
Verification after completing these steps: after choosing a trader, start with a small amount and copy for one week. Observe the actual leverage and drawdown in real trading, confirm that it matches the judgment you formed from the data, and only then decide whether to increase your position. Copy trading itself does not generate extra fees, but the trades created by copy trading, like your manual trades, require paying spot or futures trading fees.
