Binary Options Copy Trading: How It Works

Binary Options Copy Trading: How It Works
3 min read
12 January 2023

Copy trading has grown very popular recently, and that’s not surprising: after all, it’s a great alternative to active trading that’s especially useful for novice traders. When you’re trading on your own, you can’t avoid taking on serious risks, and you need decent skills and experience to stay profitable. However, it takes almost no prior experience to participate in copy trading, and you can choose between all kinds of assets, including binary options. In this article, we explain how to make substantial profits by trading binary options passively.

How passive trading works

Basically, copy trading platforms allow you to look at professional traders and replicate their actions to reap substantial profits. The best of these platforms have hundreds of available traders with different trading strategies that you can filter by profitability or other characteristics to choose the best ones. It works for binary options as well, but it’s not that simple: you can’t just blindly repeat everything these traders do. Instead, you should develop your own strategy to filter their behavior and choose only the most suitable trades for you.

While binary options are pretty popular among traders, not every broker offers them among its trading tools, and even fewer platforms allow you to trade them passively via copy trading services. However, there are still several reliable binary options copy trading services to choose from, so let’s check them out.

Pocket Option

Launched in 2017, Pocket Option is considered one of the leading platforms for binary options trading in the world. The company is not particularly well-regulated, but it has a strong reputation as a reliable broker and is widely considered pretty secure. The minimum deposit is just $5, so you can start small or even use a demo account to practice for free.

Expert Option

Expert Option is another widely known binary market broker favored by millions of traders from many different countries across the world. The minimum deposit is $10, and there is also a demo account if you want to test the broker’s features or practice some strategy. Expert Option is known as one of the best binary social trading platforms, and you can manage your account using a mobile device.

Olymp Trade

Founded in 2012, Olymp Trade is one of the oldest binary options brokers on the market. The broker is regulated by IFC and widely considered a secure and reliable company. The initial deposit is $10.

 

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Sam Johnson 2
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