Novice investors who wish to make money with binary options can take advantage of the social trading feature available in some platforms which enables them to copy and execute the trades of other successful investors. Social trading is a relatively new technique through which traders rely on financial information from other successful investors and make their trading decisions based on that. Launched in the year 2012, Copyop is the first and unique social trading platform with innovative features that makes binary options trading super easy and enjoyable for beginners.
Binary options are relatively new investment methods with limited risk and higher payouts for every successful trade. Social trading platforms have become popular in binary options which allow users to follow other experienced traders in the network and copy their successful trades instantly. Copyop trading platform offers an innovative social trading platform to help beginners execute binary options trades without the need for market expertise. Copyop social trading platform is regulated and governed by CySEC (Cyprus Securities and Exchange Commission) under license no. 187/12. It is operated by Ouroboros Derivatives Trading Limited which is the same parent company of anyoption, the pioneers in binary options trading. Copyop trading platform is also registered with South African Financial Services Board and is considered to be a reliable and trusted platform for beginners.
As a Copyop user, you can follow some of the best traders and get notified whenever they place a trade. You can also copy and execute the successful trades of the investors whom you follow with a single click of a button. The experienced traders are ranked based on their past performance using proprietary Copyop algorithm. The ranking is based on various factors like Hit% or success ratio, most profitable asset, trading frequency, number of followers etc. If you are an experienced investor and you have several followers, you will also be rewarded for every trade followed or copied from your account in the form of Copyop coins which can be exchanged for real money. Some of the important features and benefits of Copyop trading platform are listed below,
- Copyop offers a highly secure trading environment for users and all your financial data is encrypted and stored confidentially. They spend a considerable amount of resources to maintain the safety of user accounts.
- Copyop trading platform supports more than 15 languages so that you can trade in your comfortable language of choice. Also, it is available over website as well as native mobile platform(iOS/Android).
- Copyop users get access to 24/7 customer support and all their technical queries will be answered promptly.
- Copyop has unique features like HOT traders table and live social feeds to help beginners quickly find outstanding traders in their network. The live social feeds will display the trading activities and success of experienced users in real-time which makes it easier for tracking.
- Users are offered a choice to open their trading account in 3 different currencies like Euros, Sterling and US dollars. You can make deposits to your trading account using Wire Transfer, Visa and Master Cards, Amex cards or any international debit cards. Copyop also supports fast and hassle-free withdrawals for its users.
- Copyop rewards experienced traders in the form of Copyop coins (can be exchanged for real money) for every trade followed or executed from their account. For every copied trade, you will be rewarded two coins and for every followed trade you will receive one coin.60 Copyop coins are worth 10 Euros and 250 coins are worth 50 Euros.
- Copyop trading platform offers demo trading account for beginners to practice trading without using real money.
- Copyop allows its users to connect their trading account with Facebook account and share their trading knowledge and techniques with their friends. You can socialise with your Facebook friends and also view their Copyop trading activities.
Some of the drawbacks with Copyop trading platform are,
- One of the main disadvantages of Copyop platform is that you have few underlying assets to choose from which are also restricted to the market trading hours. This is a drawback for experienced traders who like to invest in a diverse portfolio and hedge their positions by choosing from different asset classes.
- Copyop has a restriction that any trader must have a maximum of only 100 copiers. This means you won’t be able to copy a trader who already has maximum copiers.
- Users won’t be able to modify their base currency once they have opened their trading account.
- Copyop does not have live chat support which could have been more helpful for users. It has only e-mail and telephone support, but live chat would be better.
Copyop does not reveal the entire trading history of successful traders. It only displays the last three trades in the live social feeds and the Hit% for last 120 trades. Other social trading platforms reveal the entire trading history which can be helpful in some cases.
Copyop is considered as an exciting and innovative social trading network which will help you make money using binary options without having to spend too much time in market analysis. With more than 1 million users and a lot of unique features, it is considered as a trusted platform for novice investors who lack the market knowledge to generate profits by copying other experienced traders.