Copy trading is all about using massive social networks of traders. These allow followers to have their accounts linked directly to the accounts of expert traders. This sort of social trading requires no input on the part of the follower, which explains its popularity. The size of investment is tailored to the follower. So a professional forex trader placing trades of over £10k, can still be followed by a novice risking just a few pounds. When social trading was first introduced it was designed to make trading available to anyone with a web browser.

The aim was to make trading and investing simple, enjoyable — and profitable. The early pioneers of social trades ensured their platforms where intuitive and user friendly. The platforms are constantly improved though, offering new tools and improvements. Brokers also put an emphasis on giving clients free educational tools, and explaining the concept of social trading.

Demo accounts are a popular way for traders to get used to the ideas. These are powerful risk management features. They automatically stop a transaction when a certain target is reached.

Very helpful where traders are not monitoring their positions all the time. Copy trading has grown rapidly since the idea first surfaced. Those following these traders can duplicate their trades and profit from them automatically. Sometimes referred to as both copy trading or social trading , the idea gained traction quickly as novice investors could watch, learn from — and copy — experienced traders. They could piggy-back on their success and place exactly the same trades, at exactly the same prices.

The instant nature of these trades meant followers were not missing out on price movements — they are able to configure their account to place exactly the same trades — at exactly the same time — as the traders they follow. Social trading is hugely attractive for those traders making their first steps in the investing world. It is often sold as a method for those new to investing to get involved without a huge amount of research or prior trading experience. But is there more to copy trading than that?

Read on to find out…. Once a trader has decided they wish to use a copy trading platform to follow others, they need to search for the right traders to follow.

This can be done using a variety of methods. Traders can be filtered by performance, trade frequency, the assets they trade — any element of their trading style. Some might look for those with long term results — others might prefer the people making big profits in the last few days. Once a user has found someone to follow, in one-click, they can ensure they open each and every trade made by that individual.

The actual sums involved can be tailored to suit — so a person can follow a millionaire forex trader, making huge trades — for maybe just £1 per position. Once configured, each time a new trade is opened or closed , the follower will also have their trade opened or closed at the same price.

Apart from the size of the investment, everything else is identical. Traders can copy or follow as many different people as they like, and mirror all of their trades. Of course, they still have the flexibility to stay out of particular trades, or end the copying altogether.

There is no commitment and the follower is in complete control. Of course, the description given so far is very one-sided. Following other traders is what has attracted the vast majority of people to social trading. There is however, another side to the coin — those traders who are followed themselves. Without those talented, profitable traders, there would be no-one to follow, and the model would break down very quickly.

So what is the motivation for traders to try and attract followers? Firstly, traders are initially just looking to be profitable for their own benefit — obviously. They are opening and closing positions with a view to getting a good return on their investments for themselves.

Assuming they are successful however, why trade with a social trading platform? Well, the broker will generally reward traders who are followed in significant numbers, with a share of their trade volume generated. If a trader places a single trade, which makes the broker £1 in commission or via the spread, that is all well and good. What if the same trader makes the same trade, but is then followed by 1, users, who all place exactly the same trade, generating the broker £?

The broker can then reward the trader with a cut of that commission. The brokerages know they need to attract good traders to ensure there is actually people to follow — so a good trader can quickly ramp up their own profits by trading well, attracting users and generating greater trade volume. Avatrade 3. HFM 4. Forextime 6. CM Trading 7. Go Markets 8. Alpari Easy Markets. OctaFX 2.

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How to Invest Money How to Invest in ETFs How to Invest in Index Funds How to start Forex Trading How to Pick Shares How to Report a Forex Broker How to be Consistent in Forex. In this article, we explore the 10 best binary trading platforms that grant traders access to this unique financial instrument, allowing you to diversify your portfolio and take your trading to the next level. Binary options are financial options that come with one of two payoff options: a fixed amount or nothing at all.

Rated of Recommended FX Brokers. General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds.

You should never invest money that you cannot afford to lose. Regulated by major regulatory organizations including CySEC , IQ Option focuses on making CFD and Options trading accessible and exciting for traders. An award-winning browser-based platform and connected apps; this accessible software changed the way options trading is done online.

ExpertOption is an online trading platform that offers over different financial assets to trade including currencies, stocks, commodities, and cryptocurrencies.

Located in Port Vila, Vanuatu, ExpertOption is regulated by the Vanuatu Financial Services Commission with license number This broker has been around since and has over 13 million accounts opened since that time.

With over account managers, ExpertOption is one of the most popular and well-known trading platforms available. Unlike other brokers that use turnkey platforms such as TechFinancials or SpotOption, ExpertOption developed its own custom platform to cater to the needs of its clients. Lightning-fast execution, accurate price feeds, and weekend trading are all advantages of the ExpertOption platform. Overall Rating. Rated — of Recommended FX Brokers. Olymp Trade is one of the most popular online brokers in the industry, with over 25, clients currently trading on its platform every day.

Olymp Trade has been operational since , and the firm has a reputation for continuing to improve its trading platform with each successive year. As one of the more popular brokers on the market, Olymp Trade offers an easy user interface, great customer service, and plenty of options to learn how the markets work. HighLow has earned a reputation among binary traders in the online trading community as being one of the few brokers that are trustworthy and transparent.

While the bulk of the binary options brokers around the world have opted to shift their operations to a tax haven country in the Caribbean, HighLow has chosen to remain in Australia under the jurisdiction of ASIC. For access to the financial markets, HighLow has opted to adopt the white-labeled trading platform provided by Markets Pulse. While the trading platform does not have as many features as the popular SpotOption binary trading platform, it is well designed to suit the needs of traders who are just beginning to take up online trading.

Created by a team of highly experienced software developers in , OptionRobot. com is an automated binary options trading software. But it also has a place for more experienced traders too, who might not be a master of a diverse range of different assets, but still want to trade them. This trading software is one of the leading trading robots in the industry and gives traders the choice of connecting to a selected number of binary options brokers.

While most binary options trading robots thrive on marketing hype, Option Robot is different as it relies solely on its ability to use popular technical indicators and proven trading strategies to produce favorable trading results. Ayrex is a binary options broker established in and operated by Advanced Binary Technologies Ltd.

Its main office is located in St. Kitts and Nevis. Ayrex accepts traders from around the globe but does not serve traders in the United States, Iraq, Iran, North Korea, Syria, and several other countries. Ayrex offers its clients many possibilities for binary options trading. In addition to offering a wide range of currency pairs to trade, in the summer of , the broker increased its offerings by adding 35 stocks to its list of tradable assets.

Cryptorobot is yet another Seychelles-based binary trading broker. It mainly deals with cryptocurrencies. You can trade with Ethereum, Bitcoin , Monero, Litecoin , or Ripple. The platform, unlike the others, is quite straightforward. You just buy the cryptocurrency of your choice under speculation that it will appreciate at price. The platform is an automatic platform. It monitors the trends in the cryptocurrency market and sells or buys cryptocurrency on your behalf to help you make profits.

Binaryrobot is yet another robot-based binary options broker. Instead of you monitoring the markets, yet set the ideal market conditions and let the robot make the trade when it detects them. It is a great platform for novice traders to try their hands in binary trading.

Binaryrobot is one of the best binary options brokers in India. com is a UK-based binary trading broker. It has been licensed by and is under the regulation of the British Isles, Malta, Ireland, and the UK. It is one of the most transparent binary options brokers in the industry. It has made declarations of owning the company, and it is in charge of the market operations.

The platform brings together aspects of speculation and binary trading. Its services include FX margins, Crypto trading via MT5 and CFDs. com offers you over instruments to trade with. com also offers you interactive webinars, daily market reports, and eBooks and videos for learning, all for free. Finmax is a Bulgaria-based binary options broker.

The platform was launched in and boasts of a team of financial market professionals who help people around the world trade in binary options. The platform does not admit US traders though. Finmax has a couple of awards under its belt.

They are an indication of its prowess as far as binary trading is concerned. Finmax also offers some shorted trade durations. You can set the trade to last for as little as 30 seconds. You can also set long durations. They can be as long as six months, depending on your speculations.

A binary option is a type of option with a fixed payout in which you predict the outcome from two possible results. If your prediction is correct, you receive the agreed payout. If not, you lose your initial stake, and nothing more.

Compared to another trading, the returns in binaries are extremely attractive. Check our comprehensive list of the 27 best binary options trading platforms directly from the Forex Suggest website. Overview Forex Cashbacks can simply be defined as rebates that are provided back to traders for every trade that they have executed. When Cashback. Overall, OANDA is considered low-risk, with an overall Trust Score of 92 out of OANDA is licensed by two Tier-1 Regulators high trust , zero.

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Home » Guide » Binary Options social trading. Binary options trading has become popular as it offers a good payout. Also, with this trading method, several traders have made a huge profit. And the fact that binary options trading is easy to execute is attracting more traders. Unlike other tradings, binary options trading is not complicated. To win a trade, you only have to speculate whether the price of a given asset will go beyond its fixed value or not.

Besides simplicity, another thing that keeps traders interested in binary options is the different features that brokers offer, like social trading. It is a new way of investing in the options market, and it can increase your profitability. So, what exactly is social trading? Why should you choose it? What are its benefits and limitations? And how can it help you? Well, you will find all the answers to these questions in this post.

Social trading is a new way of trading in the binary market where traders can analyze the trading behavior of experts and their peers. In simple terms, it can be seen as a social network where traders share their ideas to make a significant profit.

Experience with trading binary options is generally not required for social trading. Instead, they rely as traders on the expertise of other investors. The strategy is thus to use the experience of other investors to get started in binary options trading. This form of trading lets the trader establish a global connection to utilize the relevant information.

Since you depend on the trading data provided by the public and not the broker, you must stay alert. After gaining popularity, this trading feature has faced some backlash. It is getting more popular among new traders as it helps them understand how profitable trades are made. Additionally, social trading has chat rooms that make it easy for traders to ask questions and learn about Binary Options trading.

Social trading is simple. First of all, you need to look for the right trader that meets your trading needs. Once you have found a reliable trader, you can easily copy their activity in one click to follow their Binary Options strategies. You can also take the help of copied financial data to create a winning strategy of your own. Either way, the data will help you. But is social trading legal or not? Well, this form of trading is legit, and more than half of the brokers offer this feature to traders.

To know about the latest Binary Options trading strategies , you can join chat-based workgroups or social-media signal groups. Although social trading is getting popular, there is a risk of losing money.

Then why do traders like this feature? Social trading is all about copying the moves of expert or peer traders to increase your chances of profitability in Binary Options trading. This way, you can trade more often in the market. Means you can make more money than usual. So, using the social trading feature makes sense as it saves time and increases profit while trading Binary Options. Besides this, some platform also tells about the trading habits and risk of the available strategies.

This information can help traders to make informed a decision. Also, each trader is specialized in trading in specific geographical markets. However, you can expand your knowledge in trading Binary Options and decrease your chances of losing while investing in a foreign asset or location by copying the strategies of other traders.

Social trading is an easy way of exploring new possibilities without having a greater risk of losing money. For instance, if you are an expert trader in Binary Options who wants to try short-term trading styles like day trading, you can copy others to take a quick decision.

By using social trading, you can break from your usual trading style and try something new. Social trading can also be combined with binary options trading. Suitable portfolios for post-trading and copy trading functions are offered by the brokers Pocket Option and Expert Option. Online broker Pocket Option offers 1-Click Copytrading, allowing you to copy binary options from profitable traders and thus adopt strategies of other traders.

For beginners in binary options, this broker offers the best entry opportunities. This is because traders can first view portfolios of other traders, then select them and copy the binary options trades. However, not only beginners but also professionals can trade binary options via Pocket Option. Because on the platform you can of course also become a signal provider. In this case, you convince with your binary options knowledge and share it.

This way you can connect with a community of binary options traders, use binary option tools and help others achieve financial independence. Expert Option also enables social trading of binary options. It is one of the leading networks around social trading and connect investors with investors. Social groups on Instagram, Twitter and other channels also allow traders to share information about Binary Options and other assets.

The broker itself convinces with different account types, a good selection of financial instruments, regulation and a wide range of available payment options. Here are a few of them. eToro is a safe and regulated platform that has become a popular choice among traders for social trading. It is a profitable broker that helps traders make money by offering them excellent features like copy trading, news feeds, and demo accounts. eToro was launched in , and it offers different kinds of assets for trading like commodities, stocks, forex, social trading, indices, cryptocurrencies, exchange-traded funds, and more.

It also charges inactivity fees. eToro is the first choice of beginners and traders who wants to learn everything about copy trading systems. Another popular broker that offers social trading is Spiking. It was launched in , and it has more than thousands of users. It uses Blockchain Spike Protocol that helps traders to follow market trends accurately.

When you are trading with Spiking, you get a quick notification whenever your friends buy or sell stocks. It also does real-time investor tracking. A social trading platform that is made for both- professional and new traders is PrimeXBT.

It was launched in , and it offers live chats and email options as customer support. Although there is no demo account available with PrimeXBT, you get an opportunity to trade different assets like forex, commodities, indices, and cryptocurrencies.

One thing that makes PrimeXBT so popular is the reduced risk option that comes with it. That means new traders can quickly start trading like experienced ones. If you are looking for a trading platform that does not charge any minimum deposit amount, TradingView should be your pick. It is a cloud and web-based platform that comes with unique trading features for professional and new traders. TradingView allows traders to copy the trading strategies that can be used to trade any asset in the market.

AvaTrade is another popular platform that is widely used for social trading. It is regulated, and it also offers fixed spread forex trading. With the help of AvaTrade, you can do real-time copying of trade and can use it.

AvaTrade was founded in , and it offers different assets for trading like forex, crypto, commodities, EFT, bonds, futures, and indices. Moreover, it provides live chat, email, and phone as customer support. ZuluTrade was launched in the year and has become a popular trading platform ever since. It is integrated with some fantastic features.

ZuluTrade is a user-friendly platform that does not require you to deposit money to start a trade. But it charges inactivity fees. These tools are available on different devices like iPhone, Android, desktop, and iPad. That means you can trade from anywhere and anytime. For doing social trading, you are required to register yourself with a trusted broker that offers Binary Options as an asset.

But finding a reliable broker is not easy as there are so many options to choose from. Here are a few factors that you can consider:. Social trading is of various types, and they are different from each other. Also, they have their limitation and benefits. Signals or tips are one of the easiest social trading styles that new traders can use for trading Binary Options.

That means if there is any confusion, you need to solve it yourself. But with this trading style, you can get a better understanding of the market. Forums and profiles are two different things and are the first choice of traders who are serious about social trading. Through forums, you can get in touch with other traders, and profiles help you know about the traders in a better way. If the broker you are trading with is legitimate, it will profile complete details of the trader regarding their trading styles, biological information, and other essential data.

If forums are reliable, they will have multiple active users in the discussion room to talk to about Binary options.

Copy trading allows novice investors, with little time to trade themselves, to profit from the knowledge of other, more experienced, traders. Well, as you can see, binary options social trading can be superb if your aspiration is to acquire experience in trading BO by following pro traders and see how they do their job. And the fact that binary options trading is easy to execute is attracting more traders. Alpari Facebook Twitter Youtube Linkedin Instagram Pinterest. Similarly, traders who do not spend much time in the trading forums do not know about the authenticity of certain professionals.

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