Binary options broker Pocket Option is trying to expand useful services on its binary options trading platform so that every trader can find something suitable for themselves. And one of these services is social trading and copying of transactions.
Copying trades is suitable for any traders, including beginners, as it does not require knowledge or experience and allows you to make a profit at an early stage of training.
How does the trade copying service work at the binary options broker Pocket Option?
There are many traders from different countries on the PocketOption trading platform. Some are just starting to learn trading, while others have experience and are already making money using options.
If a trader wants to earn additional income, he can start allowing other traders to copy his trades, receiving commissions.
This is what other traders' trades look like on the chart:
How to view transactions and statistics of other traders at the binary options broker Pocket Option?
To start copying transactions of successful traders trading on PocketOption, in the terminal you need to go to the “Social Trading” tab in the right side menu:
In the window that opens, you can see the best transactions made by other traders at the moment.
In this window you can also:
- View the list of the best traders in 24 hours.
- Use the search for traders.
- View the list of traders copied and copying you.
- View the list of traders you are watching and watching.
- Change copy settings.
You can view the statistics of any trader by selecting him from the list:
Here you can see statistics for today and yesterday, as well as for all time. In addition, you can see:
- What percentage of trades is profitable for this trader.
- Total number of transactions.
- Trade turnover.
- Profit.
- Maximum and minimum bet amount.
Also, before you start copying any traders, you can watch them by adding them to your watchlist:
This will provide an opportunity to evaluate their trading before copying trades. The trades of these traders will additionally appear on the chart in the future.
How to copy trades of other traders from the binary options broker Pocket Option?
After studying and observing traders on the PocketOption platform, you can start copying trades. To do this, you need to select the one you like and click on the “Copy bids” button:
After clicking the button, the copy settings menu will open:
Here you can configure copy settings, which are divided into:
- Percentage of trades copied.
- Stop balance, reaching which copying will be stopped.
- Minimum amount for copying.
- Maximum amount to copy.
After setting the settings, just click on the “Confirm” button.
Please note that it is best to choose traders with the maximum percentage of winning trades. In our example, the trader has a percentage of positive trades of 75%:
I would also like to say that when trading binary options using the Pocket Option application for mobile devices, all this functionality is preserved.
Pros and cons of copying trades from the binary options broker Pocket Option
The advantages include the fact that this option for making a profit is completely passive and is suitable for beginners as initial practice in trading. You can make transactions yourself for smaller amounts, and leave the rest of the account for copying.
For experienced traders, this opportunity provides another way to earn income, since providing transactions for copying is paid for by commissions, which are accrued to the trader’s account.
The disadvantages include the fact that for beginners, copying transactions will not bring any practical experience in trading, which means that independent trading will most likely not generate income.
Also, another problem is that any successful trader can either leave the market at any time or simply prohibit copying his transactions. And of course, no one is insured against the loss of the entire deposit.
Conclusion
As you can see, it’s not at all difficult to start copying trades from the binary options broker Pocket Option. All you need to do is watch the traders and evaluate their capabilities.
However, do not forget that this type of earnings does not provide any experience in trading and does not entail profitable independent trading. To learn how to earn a stable income from trading in financial markets, you will need to spend a lot of time and effort on training and gaining knowledge. But as an additional option for earning money, copying trades is ideal.
Open an account with PocketOption
See also:
The best binary options broker! Who is he?
How to trade express orders with the Pocket Option broker
How to participate in tournaments on the Pocket Option platform
How to withdraw money from the Pocket Option broker
Minimum deposit and bonuses at the Pocket Option broker
Bonuses for broker Pocket Option
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