Binary Options Copy Trading Platforms
Trading binary options is simple and doesn’t require any prior experience on the financial markets. That is why this investment method is rapidly growing in popularity and attracts many new traders. Traders have a wide range of choices when it comes to binary options trading systems as brokers and platform providers are constantly developing new features and introducing new solutions such as the social trading systems. Social trading combines binary options trading tools with social networking features. This enables investors to follow experienced traders, observe their strategies and replicate their trades, which is why it is also known as copy trading.
Both novices and professionals can benefit from the copy trading systems as they give them the opportunity to join a social trading community and gain helpful insight into current market trends, learn from experts and improve their investment strategies.
This is especially beneficial for those who are new to the financial markets as it enables them to minimize the risks associated with inexperience and gives them the chance to start investing successfully from the very beginning. Advanced traders on the other hand can optimize their trading methods and improve their results by monitoring the activities of their peers.
Copy Trading Software
Copy trading networks usually provide lists of the most successful traders within the community that others can follow and copy. Each trader has a profile containing details about their investment history, trading volume, asset portfolio and results. Traders can choose who to follow based on those details.
Most social trading networks have user-friendly and intuitive interfaces similar to those of social networks therefore it should be easy even for novices to quickly learn their way around. The best copy trading platforms provide both a fully automatic trading mode as well as a manual mode that gives traders enough flexibility and streamlines the investment process. Another thing that has to be taken into consideration are the customizable options. The best copy trading platforms provide various settings, which traders can use to optimize their results.
Read Best Trading Software’s Review –> HERE.
How to Copy Binary Trades?
Copying binary trades is simple and easy even for beginners. Once you pick expert traders to follow you can start replicating their trades by clicking on the “Copy” button under their profile picture and selecting the amount you would like to invest in each trade. The better social trading systems have additional parameters you can set such as a limit on the investment amounts per day and the maximum number of trades that can be executed within a predefined time period. After you have set all of these preferences you can activate the auto trading mode and the software will execute trades according to your settings even when you are not logged in.
However, if you prefer a more hands-on approach, you should look for a social trading network that offers a manual mode, which will enable you to have more control by placing individual trades manually.
Best Copy Trading Platform
Social trading networks are growing in popularity and more and more binary options copy trading solutions emerge on the market as stand alone platforms or as features of already established binary options trading platforms. Here we will review the best ones currently available.
- Binary Replicator (Read Review) is the innovative social trading feature of CTOption. In addition to the auto trading mode and copy trading tool, it also provides highly accurate signals. With its many customizable options the Binary Replicator offers a flexible and efficient trading experience.
- BestoCopy (Read Review) is one of the leading social trading networks on the market and its up-to-the-minute streaming financial data helps traders notice even the slightest fluctuations on the market and adjust their strategies accordingly. It provides both auto-trading and manual modes.
- iFollow is the copy trading feature of the established SpotOption platform. It provides a wide range of customizable settings, which allow traders to implement various strategies and optimize their results.