The newest binary option trading platform in town is the Copyop. It is in fact the first social binary options network ever to be introduced into the binary trading market. Copyop was introduced and managed by Anyoption. Anyoption is known all over the world as the largest and leader in the binary option trading broker. The trading network is different from the others, because you can watch as well as copy other traders automatically like Etoro
In this review, you are going to understand copyop as well as its social trading and copying features.
For you to successfully use copyop, you have to register with Copyop or you can register through Anyoption. When you register for it through Anyoption website, you are going to derive many benefits from that.
The major benefit is that you would be offered a deposit benefit. Moreover, any deposit you had on Anyoption can as well be used for copyop. However, the bonus would only be added when you make a formal request for that, as it would not be observed in your account automatically. For the bonus to be unlocked in your account, you are expected to have completed different trades.
When you want to use Copyop, you can open an account in three major currencies and these include the USD, GBP, and the EUR. Once registered, you would you cannot change the base currency. Making deposits to your account is not difficult as it can be done through bank transfers, debit cards, Amex cards, MasterCard as well as Visa.
If you want to see the features and have a better understanding of it, you can open an account with Copyop, till you understand the trading platform, you not need to fund the account
How to Copy the best traders with Copyop
You are free to copy any trader on Anyoption, or Copyop, you can also be copied by anyone who chooses to do so. You should know that you are limited to copy one hundred traders of your choice. When the website becomes very popular trading platform, you would observe that this is going to become a serious issue.
If you do not want to copy traders, you can decide to watch them. This implies that you can watch their actions as displayed in the social feed. There are great benefits you can derive by investing in copyop instead of other copier service providers.
The first and the most important benefit is that you are not restricted to copying forex traders. Apart from forex traders whom you can copy and watch, you can copy or watch binary option traders, indices, Asian and European stocks trade, a selection of the US stock and commodities.
When you are copied by other traders, you would be rewarded by copyop coins, and you can covert this to real money when you want. When you are copied by another trader you are rewarded with 2 coins and get 1 coin when you are followed by another trader. You would get the reward irrespective of whether you are succeeding on the trade or not. This means that rewards were not based on a better result. Though, you are bound to get more copiers when others observe that you are better and more successful trader.
The copying process is simple and easy and that is because it is open due to the fact that is regarded as social function. There is no selection or vetting processes as regard those who can be copied. This is another aspect, copyop is better than similar service providers who do not make such service and demand pre screening and selection.
Moreover, the platform is different because every trader must trade with real money and not virtual money. The value of your money would be displayed at the end of your last trade. This means that your money would always be available for you to see. Although people could trade with a demo account, but such people cannot be copied. You can only copy those who trade with real money. Someone you decide to copy could risk his investment as well.
Before you decide to copy anyone, you have to consider the trader performance, because his trading strategy could help you. It is important that you consider how much you are able to make when you automatically copy another trader. When the copied trader becomes successful, you are going to make sixty percent profit, but when it becomes unsuccessful, you will lose 15 percent of the trading amount. You would observe that this is less than what you would have gained from the market if you had not actually copied another trader. You would have been offered about sixty to eighty one percent payout by the trading platform, and this happens when you allow the market to expire in your hands. If the option expires out of the money, you would get five to twenty five percent returns.
This implies that you can make a lot of money when you copy somebody who has a high successful trade rate. If you want to work out the percentage of what you can get when you copy a trader, you should use the math formula. This is usually calculated as follows X”16+(1—X)”1.5=10—>
14.5 X = 8.5 ->X = 8.5/14.5 ->0.5862 or 58.62%.
It can be argued that you would make more profits if you watch the traders perform instead of automatically copying such a trader. You can copy them manually when you begin to see them in the social feed. It is either that you watch them or get an alert when they are doing well with the trade. This means that you would always be at an alert and you are likely to miss some of the actions, as you would not always be available.
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As at now you cannot make a final judgment about the copyop because it is relatively new. It would not be easy to make a final analysis about the performance of the platform. As at now, it may be difficult for you to find a trader who has been with before 2014. The reason for this is because the platform is still new and not known to lots of people. This means that you have to be cautious when you try a new service, but it is difficult to find enough information about them on the internet. As the time goes on, you would discover some important information about them that would assist you in making an analysis and input about their performance.
As traders continue to use the platform, reviews about them would continue to be updated. This is the only way you can make successful result out of the platform.
Here is a review of the features, which the platform offers to its members. You can copy anyone that trade with Anyoption and copyop. However, it would be difficult for you to observe all the traders in that platform as it does not provide all the lists. Moreover, search functionality is not available. For you to discover traders you can copy, you have to rely on the hot list or the explore feed.
Features of Copyop Binary Social Trading Network
Explore feed is the most important feature of the platform as you can use it to monitor other successful traders on the platform. From the hot list, you would observe displayed in three tables the best traders. This usually based on the total gains they have made, the best trades and that is the total value as well as the best copiers which is calculated in terms of the profits made in one to three months.
This means that copying functionality is not yet well developed on the platform. It is still at its basic formation. There is no search capability and this can be considered a limitation. The hot lists is made based on such considerations like monetary gains and not based on the total hit percentage. When you want to copy a trader, your decision is always based on the hit percentage and not necessarily in terms of monetary gains. This would be less useful for copying purposes. It would be more useful if the number of hot lists is increased from ten to fifty. This would be more useful for the traders because it would offer them enough trader pools from where they can easily make their selection.
Overview of copyop
When you observe a trader on the explore feed or hot list, you can get enough information about them by clicking on them, and this would provide basic information about them such as the name of the country, the country of residence, membership date, the traders risk percentage, as well as the number of traders who are watching and copying such traders.
Overall hit: this is considered the total number of profitable investment which the trader has made. This does not include what they copied from other traders. It includes all the assets they have traded and this is calculated in terms of total percentage they have gained over the years. It incorporates the aspect of the trade like best winning streak as well as the average number of trade, which the company has made daily. Others include the trader’s stats as well as the last three trades which the trader completed. It also includes the number of hit in the 30 days, 60 days, 90 days, as well as 120 days. This means that the trader would be assessed based on the last 120 trades, which he or she has executed.
This means that the trading platform only exposes a smaller percentage of the trading history of the trader. This means that you can only assess only the last three days of such a trader. This does not include all the historical as well as the current trades the trader is executing. These limited information are shared out to the traders and that is from where they would make their decision on whom to watch and copy. The breakdown of the hit percentage for the last 120 trades is very significant because it offers some impressions about the performance of such a trader. It is important if the overall and comprehensive performance of the trader is made available. This would help in the evaluation of the traders.
The implication is that it is not easy for any trader to identify whom to copy and whom not to copy. This is because if you follow the explore feed, it would take a lot of time before you can enough information to evaluate about any trader. However, if you watch the trader for a period of time, you can learn important things about them. This would help you to understand them in the future.
Money management and risk features
The important thing about copyop risk management is that you can determine what you can actually lose from that trade for every transaction you make. This is calculated as the total amount the trader makes on the trade and the possible refund, which the player would make from that trade.
Trading copy screen
The other important thing that you are going to learn from this is that it is easy to learn more about the trade when you decide to copy others. This means that you can easily manage your risks in the future. When you take action, you can manage the money that you can lose from the trade.
Moreover, there is a limitation as the number of traders that you can copy. The maximum that you can copy is one hundred traders and that depends on the currency that you want to trade.
In terms of the assets to copy, there are different trading assets, which you can decide to copy and they include gold, EUR/USD. This means that you can limit your trade and that would actually help you to plan your trade in a way it would favor you. You can actually plan your trade in such a way to maximize profits and minimize loss.
The platform provides both the maximum and the minimum amount you can invest for each copied trade you want to execute. The maximum trade is different when you want to trade on your own but only applies when you want to copy a trader. You can trade 25 instead of ten when you trade on your basic currency.
When you begin to copy any trader, you can stop copying whenever you want. You can as well review your performance as a result of following them. You can easily find out what you are looking from the platform itself by clicking my options. When you do this, it would open all the open options as well as the all the settle options. However, there is no simple way of assessing the trader’s performance. If you copy more than one trader, it means that you would have to study each traders settled options before you are able to work out your performance for each trader.
It is apparent that risk management and money option of the system is not only straightforward; they are easy and very simple to understand. This does not mean that it does not have its limitations. The major limitation is the fixed amount you have to abide by when you want to copy a trader. This could affect the profit you make and that depends on the level of confidence that you have on the other traders. It is possible that some traders would use the same amount themselves, while many other traders would not do that. It does not mean that your performance would always be the same when you copy traders. This is because the level of risks that you are willing to make in that trade may not be the same and this could also affect the level of success that you make on that trade.
This is why it is recommended that better result can always be achieved when you watch the trader perform manually, because it would give you the opportunity to understudy such a trader and learn some of the trading patterns and tactics.
Fees and costs
It is completely free to open an account with copyop as well as Anyoption. Moreover, you would not be subjected to any extra fee. You can make a free withdrawal free for one month from the system. This is quite different from forex social trading networks. This means that you would not to worry about such factors as slippage as a result of price differences. Slippage can be negative or positive and that depends on the nature of trade copying that you are making. You should know that the type of decision you make would impact your trading outcome.
You can decide to trade by yourself, you can make slightly smaller returns when you do that. The traders that you copy would be rewarded from the system and that money would be deducted from your profits.