Copy a live binary option trader
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. If you want to become a trader or if you have already gained a little experience but you feel like knowing more, our list and descriptions of the best binary options copy trading platforms will help you find our more insights about these companies.
Discover our top seven best social brokers, below. Make sure you understand what copy trading binary options presupposes before you decide whether or not this type of investment is right for you. This is a social trading platform which is compatible with plenty of brokers.
Its database contains , traders from different countries. It is a user-friendly platform, offering easy-to-use features. This makes your transactions a lot safer.
Zulu was established in , and it is similar to eToro. Its main ability is to follow professional signal providers. Zulu offers a demo account version so that you can become familiar with a real trading platform. If you want to create a live membership, you will be required to deposit at least dollars. You can open an account directly on their platform, or you can do this through other online brokers who are affiliated with Zulu. Another interesting fact is that you can open up to ten different accounts using one single e-mail address.
Ayondo is a binary options copy trading platform that was established in , in Germany. Their demo account option lasts only 15 days. During this period, you will benefit from a trial version of the real platform. You can build up a portfolio that can be used on the live social platform later on.
Ayondo provides plenty of bonuses and incentives, but these may vary depending on their promo periods. For example, if you transfer your account to Ayondo from another broker, you will receive euros in cash.
Ayondo has more than , clients in different countries. You can trade a lot of assets such as currency pairs, indices, precious metals, bonds, and more.
This is a great competitive advantage, considering that other brokers specialize in only one field. According to its representatives, this company provides more than 1, top-level traders to copy from. This broker is a social trading company that was established in It creates connections between investors and professional forex traders. The company provides a demo account that expires in 31 days from its activation.
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.