What is copyop social trading?
Copyop was launched in January 2015 and became the first enhanced social trading network for binary option trading and traders. It is operated by Ouroboros, the same company which operates anyoption, which since its launch in 2008 grew into the world’s most prominent binary option trading website. Click Here to visit copyop.
For those not familiar with binary options trading, in short, it involves backing one of two possible outcomes (e.g. EURUSD rate will be higher or lower than its current rate in 15 minutes). You lose all or part of your stake when you get it wrong and get a payoff when you are correct.
In the same way as there are some traders who’re more consistently profitable than others in traditional Forex trading, there are some traders who win more consistently than others in binary option trading.
What copyop’s social trading platform does is connect you with all the other binary option traders who trade on the copyop and anyoption platforms. I.e. once you join you can watch or copy any other trader.
When you “watch” a trader, they will be displayed on your ‘Watch List’, and whenever they perform an action you will get notified in real time. You can then decide whether to copy what they just did or not.
If you copy a trader the same trade actions they do will be automatically copied in your copyop account based on to the parameters you chose when you started to copy them. I.e. you can decide how much money you want to invest per trade, how many trades to follow and what assets to copy (if not all). When a binary option trade you copy is successful, copyop returns 60% profit. If the trade is unsuccessful you get a 15% refund.
Currently the main competitor is ZuluTrade (the largest social trading network). They offer a similar service to copyop allowing you to copy other successful binary options traders.
Copyop make it clear that “all data you see is real and live, generated by real people and real trades.”
To help you chose which binary option traders to copy you can look at copyop’s ‘Hot List’. This list displays the best traders as well as the best copiers over various time intervals. For each binary trader you can also look at their detailed profile. This shows their hit% (i.e. % winners vs losers), number of followers, most successfully traded asset, average trades per day, best winning streak and last 120 trades breakdown.
Once you’re on the copyop social trading network it means anyone else can copy you as well. This means when you’re a successful binary options trader you can make you can make extra money. I.e. you get copyop coins as a reward you for being an active copied trader. These copyop coins can be converted to real money (with no conditions attached).
You can open a binary options social trading account with copyop in US Dollars, Euros or Pounds Sterling. A deposit can be made with Visa/MasterCard/Amex cards, several debit cards or by a bank transfer. There is no minimal withdrawal amount. Support is offered 24/7 and currently the website is available in 5 languages.
The interface of their social trading platform is kept simple in order to appeal to both professional traders and beginners with no trading experience. Traders can connect to their Facebook account too which will link them up with their Facebook friends on the network.
There’s no demo available but once you register at copyop you can view the other binary option traders and their performance, without the need of funding your account.
You can also read our detailed copyop review, complete with screenshots and based on live account experience.