Pocket Option is primarily a binary options trading platform.
Back in the year of its creation, an innovative social trading function was added to the platform (the question of what is social trade will be discussed in detail below). Subsequently, new features have been added to meet customer requirements. What is very good is that Pocket Option is not slowing down, and the company can no longer be called a small player.
The company has built its platform from scratch, making a very competitive product with a very user-friendly interface for binary options trading. For mobile devices, there are additionally prepared applications for iOS, Android and Windows. We had the opportunity to test all 3 of them and they showed great results.
A trader has several trading modes available:
- Fast trading are binary options where the expiration time is set as the time from the opening to the expiration of the option. It can be set arbitrarily, for example, to 1 minute or 2 minutes 30 seconds.
- Digital trading - in this mode, the expiration time is set as a certain time during the day, for example, 12:34.
- MT5 Forex - this mode uses external software. In this mode, you can trade CFDs on various markets. The Meta Trader version 5 platform used here is the most popular in the forex industry.
Allowing traders to use two trading modes (fast and digital trading) helps when using certain strategies. Other platforms don't have this option.
How to Copy a Trader in Pocket Option?
Unlike the usual social networks and forums, the broker's internal platforms are used here, with the help of which a trader can use the signals of other players or completely copy their actions/transactions on his chart.
This way of working with assets has not received an unequivocally positive assessment, but has been found to be definitely useful in a variety of situations. I will immediately note that the minus of such a service is that zero knowledge in trading will not be enough to select sources for copying transactions.
This led to the fact that some inexperienced players began to blindly copy other people's strategies, not even knowing how to evaluate and choose effective systems. Because of this, there is a mixed opinion about social trading in the market. True, risks can be significantly reduced if you carefully choose strategies for copying trades.
On binary options, social trading appeared during the second wave of popularity on Forex, but immediately in its finished form, without the shortcomings of the first Forex versions.
Despite the fact that most traders find its usefulness only in automatic copying of rates, the possibilities of this tool are much wider. For example, Pocket Option copy trading allows you to track:
- activity and the number of successful transactions;
- trade turnover and profit;
- the minimum and maximum bet amount;
- the number of company clients following the trader.
In addition, by observing the transactions of a successful trader, you can learn from his experience and learn how to trade. It should be useful and interesting for novice traders.
All this allows the user to make a choice based on objective indicators of the skill and success of the player, and not blindly copy the first deals that come across.
Such copy trading Pocket Option is useful for beginners who still poorly understand the connections and consequences of certain processes in the market, and can navigate the trend changes thanks to observations of experienced colleagues.
Therefore, both experienced and novice traders will benefit from Pocket Option copy trading:
Players who have been on the market for a relatively long time and do not need to copy other people's trades can get a good profit from attracting an audience. Becoming a trading leader
For beginners, you can earn additional profit, promote your own name in the world of options trading and make the work more interesting financially.
In general, it can be noted that Pocket Option copy trading is still a fairly young tool on the market, requiring the user to evaluate other people's strategies. Its capabilities are not limited to simple copying, but allow traders to communicate, grow in a professional environment and follow the market leaders. Such services are still rare, but Pocket Option has already managed to implement it. At the same time, many traders still do not know what is social trade. Therefore, it is worth considering this service in more detail.
Copy trading Pocket Option is an example of a developing and popular tool that can be useful in binary options trading not only for beginners, but also for traders who already have certain knowledge and experience.
To activate the function, just click on the icon on the right side of the screen, after which the current rates of traders from the watchlist will begin to be reflected on the chart.
If this way of working is not suitable, you can track the trading of other players through the panel on the right side of the screen. To copy another trader's deal, just press one button, then the data will be instantly transferred to the open chart.
After that, the Pocket Option copy trading chart will begin to reflect the current rates of individual traders from the watch list. Next, you need to select a trader to copy trading signals and start trading with the social trading option.
To see the full rating or find a specific trader, you need to scroll down and click the "Show full rating" button.
In the window that opens, you can search for traders by nickname or user ID, but for this, the trader must make at least one trading operation within the last 24 hours.
List of copied traders
After registration and replenishment of the deposit, the user of Pocket Option copy trading will be able to copy trades. You can find this feature in the right panel on the trading platform.
Now you can select a trader from the list to copy trades. Look at those that are on the platform at the current moment. It is worth choosing traders based on the analysis of all the statistical data presented by traders. You should not always focus on the highest profit, you should pay attention to other indicators. Only in this case it will be possible to form a general objective opinion about the trader and the expediency of copy trade.
It should be noted that the company copy trading Pocket Option provides users with a lot of useful information to choose a good and reliable provider of trading signals.
According to various parameters, the user will be able to evaluate the performance of a particular trader. We recommend paying attention to those users who have at least 60-70% of profitable transactions. It is worth analyzing other parameters, but this parameter is one of the key ones.
It is also worth paying attention to the ratings of the trader who distributes signals, personal profile, basic parameters of work, and be sure to watch his actions on the platform for some time.
Once you have chosen the most suitable signal provider, you must click on the green "Copy bets" button. And then in the “window” that opens, you can do the detailed settings for copying. Here, the company also offers several options for custom copy settings.
Social trading setting
Proportional copying is set as a percentage. 100% means that the beginner's bet amount will be equal to the one indicated by the pro - the trader providing the signals. This parameter can be changed at your discretion so as to receive information from traders with other rates.
You can also configure other settings in the Copy Settings window:
- Stop balance - the "Stop balance" setting allows the trader to set the level of funds in the account at which copying will stop. The trader can also stop copying manually at any time.
- Minimum copy trade amount - The "Minimum trade amount to copy" parameter allows you to set the minimum amount of a trade that will be copied to your account. It is worth paying attention to the fact that a copy transaction cannot be less than $1, since this is the minimum transaction amount on the platform. Less than this amount, the transaction cannot be completed.
- Maximum Copy Trade Amount - The "Max Copy Trade Amount" parameter allows a trader to set the maximum amount of a copy trade that will be opened on the account.
To save all changes in the copy settings, you must click the "Confirm" button. In this case, all the settings and changes you have made will be saved and applied to your account.
Copy trading Pocket Option is an effective tool that opens up new opportunities for beginner traders. This system should be used as an auxiliary and educational function, and not just mindlessly copying other people's trades. Only with this approach, copy trading will bring significant benefits and profits.
At the same time, it should be understood that for the greatest efficiency of the Pocket Option copy trading service. Be sure to pay attention to two key parameters:
The platform requires a minimum amount of $1 to place a copy order. The trader can also choose the minimum amount for each copied trade before placing an order, as well as the maximum amount in the copy settings.
A trader cannot copy trades on a demo account, but only on a real account, which means that the trader puts their real capital at risk and use their real trading account to copy trades.
If a user decides to stop copying another user, trade orders that were placed before the trader decided to stop copying (by clicking on the "Stop copying" option) will be executed.
Another caveat to note is that if you plan to use the minimum bet amount, if the minimum number of copies set is greater than the original amount of the trade, the copy order for the trade will not be executed. For example, if the original trade amount is $1 and the minimum copy amount is $2, then it will be impossible to complete the trade. The same goes for the maximum number of copies.
Of course, this option of copy trades offers several advantages for trading. Through Pocket Option copy trading, the user can easily observe and copy other traders on the platform, track their performance, choose who they want to copy based on their ranking or other preferences.
This allows traders to become a market participant even if their experience is at the level of a beginner, or if the user does not have the time and experience to place and control trades on their own. Also, this feature will be interesting for investors who want to receive passive income.
This is a unique opportunity to profit like the most successful participants of the platform by simply automatically copying their positions (remember that any trading involves the risk of losing capital).
Of course, copying other traders, no matter how successful they are, does not guarantee permanent profits, and a trader may end up copying not only winning trades but also losses. Nevertheless, a competent approach to social trading can bring very good profits for both experienced traders and beginners. By and large, for beginners, this is the simplest and easiest way to make money in the financial market in a short time. without trading experience, you can start earning almost immediately using the experience of successful traders.