Binary Options social trading: Best brokers & tutorial for beginners


Unlike other tradings, binary options trading is not complicated. That’s because it is based on a simple yes or no proposition. To win a trade, you only have to speculate whether the price of a given asset will go beyond its fixed value or not. 

Besides simplicity, another thing that keeps traders interested in binary options is the different features that brokers offer, like social trading. It is a new way of investing in the options market and can increase your profitability. But don’t be mistaken- social trading is not helpful until you know it inside out. 

Social Trading copy a portfolio

So, what exactly is social trading? Why should you choose it? What are its benefits and limitations? And how can it help you? Well, you will find all the answers to these questions in this post. 

What is Social trading?

Social trading is a new way of trading in the binary market where traders can analyze the trading behavior of experts and their peers. In simple terms, it can be seen as a social network where traders share their ideas to make a significant profit

Experience with trading binary options is generally not required for social trading. Instead, they rely as traders on the expertise of other investors. The strategy is thus to use the experience of other investors to get started in binary options trading.

This form of trading lets the trader establish a global connection to utilize the relevant information. Social trading makes binary options trading a lot easier, but there’s a catch. Since you depend on the trading data provided by the public and not the broker, you must stay alert. 

After gaining popularity, this trading feature has faced some backlash. But it’s safe to say that social trading is here to stay and supports Binary Options trading. It is getting more popular among new traders as it helps them understand how profitable trades are made. 

Additionally, social trading has chat rooms that make it easy for traders to ask questions and learn about Binary Options trading. 

How does social trading work?

Social trading is simple. First, you must look for the right trader that meets your trading needs. When you are looking for a Binary Options trader, don’t forget to check their past performances. That’s because their performance report can help you learn whether or not their trading strategies are successful. 

Once you have found a reliable trader, you can easily copy their activity in one click to follow their Binary Options strategies. You can also take the help of copied financial data to create a winning strategy of your own. Either way, the data will help you. 

Social Trading

But is social trading legal or not? Well, this form of trading is legit, and more than half of the brokers offer this feature to traders. To know about the latest Binary Options trading strategies, you can join chat-based workgroups or social-media signal groups. These groups will keep you up to date with what’s trending in the binary options trading market and what kind of strategies are effective for them.

Why do binary options traders like social trading? – Benefits

Although social trading is getting popular, there is a risk of losing money. Then why do traders like this feature? Here’s why traders like it. 

1. It saves time

Social trading is all about copying the moves of expert or peer traders to increase your chances of profitability in Binary Options trading. Since you are replicating other trader’s moves, you don’t have to spend all your time analyzing the charts and market trends

This way, you can trade more often in the market. Means you can make more money than usual. So, using the social trading feature makes sense as it saves time and increases profit while trading Binary Options. 

2. It is transparent

While copying the moves, you can view the trading decisions, success/fail ratio, trading history, gain, portfolio, and other important trader information. 

eToro Portfolio performance of social traders
Social Trading performance

Besides this, some platform also tells about the trading habits and risk of the available strategies. This information can help traders to make informed a decision. 

3. It helps you gain experience 

Even if you are a master trader, you can’t trade successfully in every asset like stock, commodity, and cryptocurrency. Also, each trader is specialized in trading in specific geographical markets. 

However, you can expand your knowledge in trading Binary Options and decrease your chances of losing while investing in a foreign asset or location by copying the strategies of other traders. Social trading is an easy way of exploring new possibilities without having a greater risk of losing money.

4. You can experiment with different trading styles 

While social trading is mainly used when traders don’t have enough time to analyze the market, it is also used by experienced traders who want to try different trading forms or strategies while trading Binary Options.

eToro markets

For instance, if you are an expert trader in Binary Options who wants to try short-term trading styles like day trading, you can copy others to take a quick decision. By using social trading, you can break from your usual trading style and try something new. 

Popular platforms that offer Binary Options social trading:

Social trading can also be combined with binary options trading. Suitable portfolios for post-trading and copy trading functions are offered by the brokers Pocket Option, Expert Option, and Binarycent!

Broker:
Regulation:
Yield & Assets:
Advantages:
The offer:
5.0/5
12345
MISA
Yield: 97%+
100+ Markets
  • Welcomes international clients
  • Offers high payouts: 90% – 97%+
  • Professional-grade trading platform
  • Swift deposit process
  • Enables Social Trading
  • Provides free bonus incentives
Live-account from $ 5
  Sign up for free

(Risk warning: Trading is risky)

5.0/5
12345
/
Yield: 95%+
100+ Markets
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
  • Signals
Live-account from $10
  Sign up for free

(Risk warning: Trading is risky)

4.0/5
12341
No
Yield: 90%+
100 Markets
  • Accepts international clients
  • 24/7 support
  • Binary & CFDs
  • High returns
  • Free bonus
  • TradingView charts
Live-account from $250
  Sign up for free

(Risk warning: Trading is risky)

Broker:
Regulation:
MISA
Yield & Assets:
Yield: 97%+
100+ Markets
Advantages:
  • Welcomes international clients
  • Offers high payouts: 90% – 97%+
  • Professional-grade trading platform
  • Swift deposit process
  • Enables Social Trading
  • Provides free bonus incentives
The offer:
Broker:
Regulation:
/
Yield & Assets:
Yield: 95%+
100+ Markets
Advantages:
  • Min. deposit $10
  • $10,000 demo
  • Professional platform
  • High profit up to 95%
  • Fast withdrawals
  • Signals
The offer:
Broker:
Regulation:
No
Yield & Assets:
Yield: 90%+
100 Markets
Advantages:
  • Accepts international clients
  • 24/7 support
  • Binary & CFDs
  • High returns
  • Free bonus
  • TradingView charts
The offer:

#1 Pocket Option

Pocket Option is an innovative broker for binary options trading that offers you the unique opportunity of social trading strategy. That makes it among the leading trading platforms present around. 

Pocket Option website

Now, you can copy the trading techniques and ideas of professional users and profit from the copied orders. There lies a plethora of features for choosing it as your broker for social trading. 

First of all, if you are a beginner in the field of binary trading, then you don’t have to think twice before choosing it. While talking about the rewarding features of Pocket Option, you must know that it gets you the simple and most convenient social trading service that can make you a successful member of the market.

Assets 

Pocket Option offers 100+ assets. The categories of underlying assets are Indices, Forex, Crypto, Stocks, and Commodities. 

Tournaments and Achievements 

The tournaments organized by the broker on a regular basis let you compete against other traders for some fixed-price money. The sum of the prize varies from the task at hand. 

After winning the tournaments, you will get achievement badges in front of your name. Along with this, you will get lots of other trading benefits. 

Social Trading 

When you are a beginner in this large field, it can become a challenge to survive. That is where this experienced broker can assure you of that with added benefits. The perfect way to start your passive income journey comes before you with the Pocket Option. 

For, this is the platform where you can easily configure the automatic copying of professional traders. You can, of course, change your settings for a better and optimal operation in social trading whenever you want. That is how Pocket Option qualifies as the convenient broker you seek for copy trading.

Pocket Option trading

They offer you instant and accurate copying that you can rely upon all the time. It also helps you to connect only with those traders who are not short on experience. 

So, if someone wants to monitor their social trading activities and profit from their success, it is ideal to go for it because the Pocket Option fulfills just that precisely. To add to the features that, it provides, you can always keep track of every activity and get to choose the traders of your choice for copying their strategies as well.

Although there are various other binary trading brokers available out there, you can always place your trades under the best conditions here. Not just that, they offer flexible trading along with a comprehensive education. That contains tutorials and guides for various trading strategies, including social trading.

So, now you can rely on them for copy trading, but in addition to it also learn more about such trading techniques which can help you later too. Now, that is how the right place for online trading in financial markets, whether in binary options or not, looks ideally.

#2 Expert Option

Expert Option also enables social trading of binary options. It is one of the leading networks around social trading and connect investors with investors. Social groups on Instagram, Twitter and other channels also allow traders to share information about Binary Options and other assets.

The broker itself convinces with different account types, a good selection of financial instruments, regulation and a wide range of available payment options.

Expert Option social Trading
Do social trading with Exper Option now!

(Risk warning: You capital can be at risk)

#3 Binarycent

Binarycent is a binary options broker, just like the name suggests, that can help you invest and earn up to 95% in just 60 seconds. They offer you the platform for all your copy trading with the best conditions. 

Binarycent

Withdrawal and Deposits 

The minimum deposit that starts here is just $250, and you can start trading from just 10 cents. That is quite attractive for every trader, but there are many more reasons for you to choose Binarycent as your binary options broker for social trading.

Only at Binarycent do you get the guarantee of withdrawal processing that takes less than an hour. It offers non-stop trading. It implies that you can now continue with your social trading without any hindrance.

That too, even over the weekends. It also offers a wide range of deposit and withdrawal methods along with a hundred percent secure trading assurance and complete data protection. 

Customer Service 

Along with all these, it brings you dedicated customer service with multilingual support. 

Now, it would not matter which language comforts you because it is not an issue anymore. You get to clarify all your doubts and get your grievances redressed here without any communication problems. 

Social Trading 

They have the experience of more than ten thousand transactions that get processed daily, which makes them one of the top and most reliable brokers of all. Copy-trading or social trading is a strategy for trading in binary options that is ever-growing.

Therefore, you can choose a reliable and experienced binary broker like Binarycent for the job. It helps you in becoming a profitable investor with social trading. 

How to find the best social trading platform?

For doing social trading, you are required to register yourself with a trusted broker that offers Binary Options as an asset. But finding a reliable broker is not easy as there are so many options to choose from. Here are a few factors that you can consider:

  • Always check the regulation and security of the broker. 
  • Check whether the traders who are offering trading strategies are transparent about their details or not. 
  • Examine the number and quality of traders to copy. 
Copy Trading platform Zululu

Different kinds of social trading

Social trading is of various types, and they are different from each other. Also, they have their limitation and benefits. 

Top social trading types and styles are:

Signals or tips

Signals or tips are one of the easiest social trading styles that new traders can use for trading Binary Options. The recommendations come from reliable sources like broker’s sites or computer-generated systems. 

One thing that you must know about signals or tips is that you can’t interact with trade leaders. That means if there is any confusion, you need to solve it yourself. But with this trading style, you can get a better understanding of the market. 

Forums and profiles 

Forums and profiles are two different things and are the first choice of traders who are serious about social trading. Through forums, you can get in touch with other traders, and profiles help you know about the traders in a better way. 

eToro members

If the broker you are trading with is legitimate, it will profile complete details of the trader regarding their trading styles, biological information, and other essential data. If forums are reliable, they will have multiple active users in the discussion room to talk to about Binary options. Also, good forums let the trader choose a thread that they want to join – like tools, strategy, Binary Options trading tips, and forecast. 

Copy trading 

Out of all the social trading styles, copy trade is widely used and is equally popular. Copy trading is what it sounds like. Here traders copy the moves and trading strategies of other traders. 

Copy trading is one of the best social tradings as it’s simple to understand and easy to execute. Moreover, the risk of losing money by following copy trading is also less. 

  • Traders who want to follow: Traders entering the binary options market with a single aim to follow other traders can use a copy trading strategy. This set of traders generally don’t have much idea about trading options and are not planning to trade long-term. 
  • Profitable traders: Professional traders established elsewhere geographically or not familiar with a particular asset can use copy trading. It helps them take risks and try their luck differently without losing a tremendous amount of money. 
  • New traders: The last group of traders is the one who knows nothing about the market, but they are serious about trading. They can use copy trading to learn from their masters. Once they have learned the essential trading strategies, they can analyze the market independently for long-term trades. 

Benefits of social trading

Here are some of the benefits of social trading that will help you understand whether you should use it for trading Binary Options or not. 

networks in trading

Access to reliable trading information 

It’s important to speculate the market to win a trade correctly. But predicting the Binary Options market and getting reliable trading information is not easy. That’s where social trading comes in handy. 

With social trading on your side, you don’t have to worry about finding authentic trading information because you can quickly get the data in one click. Not just this, but social trading also makes it possible for traders to interact with experts to learn more about options trading. 

Quickly understanding the trading market 

Though you can become a professional trader in trading Binary Options, it requires a lot of time, dedication, and patience. However, you can fast-forward the process with the help of social trading. 

You can get access to trading data and market information and can learn from seasoned traders to quickly become a professional investor. 

Earning while learning 

Social trading is no less than a blessing for new traders as it allows them to earn while they learn. Even if you are trading for a while, you can learn from the trading strategies of expert traders. 

This way, your understanding of options trading will become strong, and you will not have to get all the information for starting a trade. 

Create trading community

Social trading is an excellent way of creating a community where traders can get in touch with trading professionals and talk about Binary Options. Through this group, one can get important trading information, tips, and trading strategies for different assets. 

Benefits

  • Access to reliable trading information
  • Quickly understanding the trading market
  • Earning while trading
  • Create trading community

Drawbacks

  • Misleading information
  • Potentially distracting

Drawbacks of social trading 

Just as social trading has certain benefits, it also has some limitations. Here are a few of them. 

Social trading network

Misleading information

Different traders publish different information about Binary Options trading chances, which is helpful. But sometimes, this information is also misleading. And since people blindly follow the strategies and copy them, misleading information makes them lose money. 

Similarly, traders who do not spend much time in trading forums do not know about the authenticity of certain professionals. Thus, they take advice from them and regret it later. 

Besides filtering misleading information, you should remember never to give your credentials to someone else to trade on your behalf. 

Potentially Distracting

If you follow social trading, it can be a minor distraction. That’s because if you are well informed about a particular thing and you find different information on the forum, you can get distracted. 

Additionally, if you spend more time on social trading platforms, there are chances that you might miss some information that happens in the real-time trading market. 

Conclusion: Social trading is a good Binary Options strategy  

To sum up, social trading platforms are an excellent way of getting a better understanding of the market in no time. However, this can also be a little risky. That’s why you should always check the authenticity of the trader before following any of their Binary Options strategies. 

A social trading platform is for both- beginners and professionals, and it can benefit them. But for this, it’s essential to choose a reliable broker. Thus, you can either select one of the binary options brokers mentioned above or follow the tips to find a different broker. 

Binary options social trading can become the only trading strategy that you need. But as easy as it seems, there is always an element of risk there with it. Just like any other trading strategy, you might require better risk management here as well to successfully reap the full benefits. 

Most asked questions:

How does copy trading works? 

To execute copy trading, you should choose a trader whose methods you want to copy. When choosing a trader, you must stay mindful as a simple mistake might make you lose a vast amount of money. Also, blindly copying the strategies might not work in your favor. You can also reduce the trading risk by not depending on a single trader or asset. When you have more than one option, you have an idea of what must be done if things go wrong. 

Who should use copy trading with Binary Options? 

If you want to increase your profitability by using copy trade, ensure you are one of the following traders:
Traders who want to follow: Traders entering the binary options market with a single aim to follow other traders can use a copy trading strategy. This set of traders generally don’t have much idea about trading options and are not planning to trade long-term. 
Profitable traders: Professional traders established elsewhere geographically or not familiar with a particular asset can use copy trading. It helps them take risks and try their luck differently without losing a tremendous amount of money. 
New traders: The last group of traders is the one who knows nothing about the market, but they are serious about trading. They can use copy trading to learn from their masters. Once they have learned the essential trading strategies, they can analyze the market independently for long-term trades. 

Is social trading with binary options risky?

Doing social trading with binary options is still risky! A profitable trader can have losses too. If you are searching for a trader to copy, you only see the past results. The results in the future can be different.

About the author

Percival Knight
Percival Knight is an experienced Binary Options trader for more than ten years. Mainly, he trades 60-second trades at a very high hit rate. My favorite strategies is by using candlesticks and fake-breakouts

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