Copyop Review: Copyop is a binary option trading website, but the way the website work is totally different from other binary options trading website. Most usually, binary options trading site helps its traders to get maximum profit through automated software that place or set trades for traders or the traders can improve their trading income using some strategies provided by binary options brokers. This method of earning is common in any binary options trading system. But Copyop doesn’t operate its business in this manner.
In this binary option website, you can earn money by copying other trading skills, you have to follow certain traders with trading skill and do whatever they are doing.
Copyop Review: Is it a Scam or Legit?
This website is like follow your leaders and you will be rewarded. This website can be compared with an auto trading software, software that tracks down people’s trading knowledge and ideas.
Copyop was launched in the year 2015 and the owner of this binary options trading site is none other than the company that runs Anyoption website. Anyoption website is one of the popular websites of binary option trading. The company has come up with the new method of trading binary options and the name of this method is called social trading. In this binary trading system, you don’t need to predict any market trends or do any kind of technical analysis. The only work you have to do in order to earn money through trading is you have to mimic the trades of professional traders, a trader who has experience profitable trades continuously.
But this doesn’t mean that you can copy other professional trades from every binary option trading website. Since Copyop and Anyoption website has some connection, you can copy the trades of people from Anyoption website as well. And regarding the sign-up, you can either sign up directly from the official website i.e Copyop or indirectly through Anyoption. One thing you should keep in mind after signing up in Copyop website and that is the sign-up bonus, you won’t get the sign-up bonus unless you ask them.
Before you open an account in Copyop, you need to make sure which currencies to select for opening and withdrawing fund. You will have three currencies option to choose, select any one currency as a default currency for depositing and withdrawing fund. You won’t able to change it anymore in future, so select the right currency as per as for your convenient.
Copying Rules and Process:
As I have already told you that you can’t randomly copy other trades from any binary option trading website. There is some rules and process you need to follow, the rules and process are simple, just follow the below following rules to know how it works.
- You can copy other professional trades only within Copyop website or the website that have some link with Copyop. You don’t need to follow any set of formality in order to copy other trading skills within the website. Basically, there are no restrictions on copying other trades within the website itself.
- There is the certain limitation of copying that means you can copy other trades under certain limits and the limit of copying per trader is 100. For instance, you want to copy Mr. Sharma Trades, but before you, many other traders have already copied his trade and it has reached to 100 people copying, at that point in time you can’t copy Mr. Sharma trades anymore as it has reached the maximum level of people copying.
- Copying does not always mean placing trades exactly the same like others trader. You can also copy traders by observing them without making any trades at that moment. For instance, you observe Mr. Sharma trading methods like what types assets or commodities do he place his trade. When does he usually trade? What is the expiry time he normally trades? All those relevant information should be collected and then you will get the basic concept to place your trade.
- Other traders can also copy your trade if they wish to, supposed you have loss trade after copying another trader, but then you don’t need to worry at all because you will get some amount payout for losing the trade. On the other hand, if you win any trade which you have copied, then you may not receive profit as much as the person from whom you copied. For instance, Mr. Sharma will get the profit of 30$ on the trade he place, whereas you may receive only 14$ profit.
- If you want to improve your profit, then don’t use the automatic copy features instead observe the traders daily and try to learn about how he place trades. Through this way, you can earn the direct profit without any profit deduction.
On the above points, I have shown you how Copyop works and how to boost up your profit. Now it’s time for you to know about how to observe the professional traders and how to select traders.
How to Observe and Select Traders for Copying their Trades:
Particularly taking about Copyop web broker, what matters the most for becoming successful traders is nothing more than a good observer and good selector. Well with regard to that, we will teach you how to be one of those traders that choose the right one for trade. Even though, it says that you can copy other trades from professional traders. But that doesn’t mean that all the name of professional traders will appear on your account homepage in a form of the list.
You can see random traders both professional and new traders when you click on the “Random explore tab” or the “Hot list tab”. Once you click on the tab, you will find random traders displaying in your homepage along with their trading records both the past and recent trades profit and losses. When you click the “explorer tab” you will find random traders appearing and when you click the “Hot List Tab” you will see only the names of traders who did well in binary option trades for many years
What is the Information you receive from a Particular Trader?
This information will help you to select the perfect trader among the many.
- You will see the nickname of the trader, from which countries do he/she belong to.
- The joining date of the trade and the total risk percentage.
- The number of people watching and copying them.
- Information about Hit percentage on their self-investment.
- Trader longest winning streak.
- A number of trades the trader place in a day.
- Information about the last three days trades record.
- Trader incremental hit percentage.
- Assets breakdown of the traders during their trades.
Advantages of Copyop:
- You don’t have to go through statistical analysis in order to trade any assets.
- People who do not know much about binary trading options can make the profit through this website.
- It is an easy social trading website.
- The tools which you find in this website can manage risk.
- This website is user-friendly as it is easy to navigate.
Disadvantage of Copyop:
- You cannot see the whole history record of the trader trades, only the last three trades will be visible. This information is not sufficient to make a good choice of traders.
- This website does not offer the demo account.
After going through the above article about Copyop, I guess you will find this website totally different from other web broker system. This website gives you profit without much effort, moreover, it has the connection with other binary options broker website which gives you the advantage to select the best trader for copying their skill.