CopyOp has become so popular that we decided to write a review about it.
What is Copyop Binary Social Trading Network?
Copyop is a pioneer social binary options network run by Anyoption. Anyoption is a leading broker known for its premium services, thus giving it an instant air of validity.
Copyop rides on the budding wave of social trading that has already taken the world of forex trading by storm. The concept involves the ability of binary option traders to find other top-performing traders, then directly tapping into the wealth of experience and success of these top-performing traders.
As a result, you can follow the trading activities of these traders or even adopt (colloquially called “copy”) them on your own account. Such that when the top-performing trader wins a trade, you win as well.
Registration
To register with copyop, you can go either through the official copyop website, or through the parent broker, Anyoption. If you choose the latter route, you can benefit from the deposit bonus given to traders by Anyoption.
You would need to make a request to Anyoption through any of their available communication channels for the bonus. This is because Anyoption does not add the bonus to your account automatically.
You can open an account with Copyop that is denominated in any of the three major currencies—USD, EUR, and GBP. It is important that you correctly select the base currency for your account, as you are unable to change it after complete registration.
You can make account deposits easily via a number of available payment channels. They include debit cards, major credit cards (Visa, MasterCard, and Amex cards), bank transfers, and popular online payment processors.
It is not an absolute requirement to deposit funds immediately after you register. You may opt to open an account, get familiar with the copyop platform before funding your account.
How Copyop Works
Copyop works in a seamless way. You find a trader with good performance; you copy his or her trades; and make profits when the trader you copied makes winning trades. In like manner, if you are a top-performing trader, other traders can copy your trades.
The mutual relationship between copyop, the copier (you who copy another trader’s trades), and the top-performing trader whose trades you copy is a win-win for all parties involved.
The benefit for you is that you get to take advantage of the experience and success of very successful traders to drive up your profit margin. The trader whose trades you copy gets rewards from copyop (more on this in the “Rewards” entry).
Copy vs Watch
The endpoint of using the copyop network is to copy consistently profitable traders. Often, before copying a trader, you may want to track the performance of the trader over time. This term used to describe this is “watch.”
When you place a trader on watch, the actions of the trader go live on your social feed. The actions display as alerts and with these alerts, you can gauge the performance of a trader before taking the weighty decision to trust that trader to take trading decisions on your behalf.
Copyop vs Other Copier Service Providers
No Restriction
The traders’ pool of copyop is excitingly expansive. The best part is you have the liberty to watch or copy any type of trader, including forex traders and binary options traders.
Furthermore, copyop has a wide variety of assets in different categories from which traders can choose.
Rewards
Assuming you are interested in becoming a trader who others can copy or watch on copyop, you do get rewards. You get 2 coins when a trader copies you and 1 coin when a trader follows you.
The award of these coins has nothing to do with the outcome of your trades. You get the coins whether your subsequent trade ends in the green or red. More importantly, you can convert the coins you accumulate to real money any time you desire to do so.
No Rigid Vetting or Selection Process
Anyone can get started on copyop. Literally!
Unlike some other social trading networks, you do not have to submit complicated applications, wait days with your fingers between your teeth, and have your nerves racking hoping on some email to grant you access.
With copyop, its register within minutes, make a deposit, and away you go. Some may argue this may make the platform a little loose, but we think otherwise. The gains of an extensive community of traders, plenty of features, inexistent barrier of entry, and intriguing user experience are way too practical to replace with the horrors of a heavily bureaucratic and discriminatory vetting or selection process.
Payout and Refund Rates
The payout and refund rates of using copyop are markedly different from the corresponding rates at Anyoption.
CopyOp
Payout Rate: 61%
Refund Rate: 15%
Anyoption
Payout Rate: 60-81%
Refund Rate: 5-25%
Who to Copy
This is ultimately down to two things:
- Being satisfied with the trader’s performance
- Being satisfied with your potential gain from the trader
You should not take either of both checklist entries lightly. Thus, it pays to be vigilant and thorough when researching and checking the stats of a trader you have in your crosshairs.
It is possible that some things might check out for a trader but some things would not, making your decision to copy or not to copy the trader in question an exhaustibly difficult one. In such scenarios, you should take advantage of the ‘watch’ feature.
You can keep track, copy actions manually if you must, then weigh your results and culled information, before making a final decision.
Features of Copyop
Explore Feed or Hot List
The explore feed on copyop lets you monitor the successful traders on the platform. It goes further. With the hot list, you actually have an overview of the best traders and best copiers.
The metrics easily available on the hot list include total monetary gains and best trade. Copyop collates and analyze as much as 90 days of data to float those metrics.
Nevertheless, you should not make your decision entirely based on these metrics. You would do well to base your decision on the hit percentage of a trader. Hit percentage refers to how much you expect to make after copying a trader. It takes into account many factors.
You can get more information on a trader you have keen interest in by clicking on the trader’s entry on the explore feed or hot list. Vital information includes the number of traders copying or watching the trader and risk percentage of the trader.
Assets Array
Copyop offers a variety of trading asset categories with plenty of remarkable choices in each category. The categories include currency pairs, commodities, indices, and stocks.
Maximum and Minimum Traded Amount
The copyop platform makes both information available before you invest in a copied trade, and then you can choose to invest any amount within the established range. This is how it works for trades you want to copy manually.
If you copy a trader, which results in the system automatically placing trades for you that are exactly as the trades placed by the copied trader, it works differently. You get to stipulate the fixed traded amount at the point when you want to copy the trader.
Furthermore, you can follow no more than one hundred traders at any one time on copyop.
Associated Fees and Costs
Copyop has NO fees for registration or using the platform. In fact, every month you get a free slot to withdraw free from your account. In addition, you can decide to trade by yourself as it also does not carry an fee or cost.