Best binary options copy trading platforms to try
Another good news is that you can open a live account totally free of charge. The minimum deposit required is, however, 5, dollars. Curious enough, SignalTrader does not have a phone support number.
However, they provide both an e-mail address and live chat. Their customer support offers quick responses and solutions. Most of their clients register because of their social trading activity, in order to copy expert traders. This is a binary options copy trading platform. It was launched in , and since then it has become a leading global forex broker. The company has registered clients from more than different countries.
If you want a SuperTrader account, you must first open a live FxPro membership. The initial deposit is 2, dollars. For this amount, the welcome bonus is 8, dollars. Besides the initial deposit, all registrations are completely free of charge, with zero fees and commissions. All those expert traders use real money accounts. Moreover, all information and data are fully transparent and disclosed. Furthermore, their platform is highly intuitive, and all their services are integrated.
Copyop is part of AnyOption, which is one of the largest binary options trading companies in the world. This company is a social trading broker that provides integrated services, and it is relatively new, being launched in It offers a social trading app available on both Android and iOS devices. You can register in two ways. All clients can sign up directly on Copyop website, or they can create an account from the AnyOption platform.
You can choose to trade in three different currencies: Euro, US dollar, and British pound. Welcome bonuses can reach up to percent. This is a popular social trading company. Since its launch, in , Tradeo has always tried to revolutionize the entire financial trading experience. Clients can choose between the two platforms that this company offers. You can opt for their in-house developed platform, or you can select the MT4. The minimum deposit is dollars.
Once you register, you will have access to almost trading assets such as stocks, indices, commodities, and more. The company offers a free demo membership which is available for unlimited time. Besides this, they also provide a live account. Clients are satisfied with their customer support service which can be reached via e-mail, dedicated phone number or live chat. Even though there are no inactivity fees, Tradeo will charge you every time you make a withdrawal.
InstaForex is a binary options copy trading company. It was launched in and has more than two million clients all over the world. Then, they can copy these trades in their accounts. The company provides plenty of incentives and bonuses. There is the percent bonus that you can receive every time you deposit a new amount of money into your account.
This trading business was created in Russia, and it is regulated by Russian authorities. Below is a video explaining the concept:. Copy trading is just like any other kind of trading; you have to spread your risk around.
Blindly copying is not the way to go. For this reason alone it is a smart idea to follow more than one trader but there is still risk in that. This way you are diversified in two ways;. When looking for a trader to follow build a list of possibilities for each asset.
If you were the coach of a football team you would want to have a first string and second string right? The same idea applies here. When this happens its time to rotate them out of your portfolio and rotate in a fresh trader. When choosing assets try to avoid unwanted correlations. Correlations are when two assets are affected by the same catalysts. It is impossible to avoid all correlations, the market is intricately entwined, but you can avoid obvious ones. The reason is simple; it defeats the purpose of diversification.
My suggestion is for a copy portfolio to look something like this;. The final tip and perhaps the most important is to manage your trades and your traders.
Use the risk controls provided by the platform, they are there for a reason. If not, even with a great platform and a good trader, you could come back to find your account wiped out. Copy trading via a robot increases risk. Automated trading means you lose complete control of your trading. There are risk management tools that can be put in place — for example limiting total losses, or the number of losses in a row.
It is vital these tools are used. If the service does not offer them, look elsewhere. Copy trading is OK. The first line of defence is picking the best platform. The next step is to actively copy trade and the above tips can help.