Binary Copier is a signals service that hopes to simplify your trading life. There are a lot of products out on the market when it comes to helping you be a better binary options trader. Some of them are worth using, and others will only prove to be a loss of money. Whenever we come across a new product, we need to evaluate whether it is a strong product, or one to stay away from. That’s where our Binary Copier review comes in.
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So, if you’re not sure if Binary Copier is right for you, read on. Our Binary Copier review will help you get closer to making an informed decision.
How Does it Work?
Binary Copier works by putting many traders together through their virtual Trading Hub. Here, you can see what hundreds, or even thousands, of other traders are doing as far as trade direction and type are concerned.
Binary Copier is a social trading platform that allows you to quickly tap into the minds of many other traders at any given moment. It works by finding crowd consensuses, and then displaying that information in an easy to digest manner so that you don’t need to scour the markets to figure out what the current trends are. All of these things are condensed into one site.
How Much Does Binary Copier Cost?
It is free to sign up for an account at Binary Copier. With a free account, you gain access to the Trading Hub, where many other traders can post and evaluate trading opinions and positions. Think of it as a giant chatroom designed for binary options traders to talk about their trades and why they make them.
Binary Copier is a completely online platform. There are no downloads required. The platform does not send out any alerts, so signals are only being sent to you when you remain on their webpage.
Once you are in the Trading Hub, you will find that not all opinions and positions are treated equally. Traders can vote on them, and their strengths and weaknesses are discussed. This allows you to keep an eye on what the top ideas are, and which ones are not looked upon as highly. The goal of the site is to help traders use their peers to form better trades of their own.
Signals are also generated, but because of the limited timeframes that are inherent to binary options trading, these need to be accessed quickly, especially for short term trades. Signals are only left up until the option has expired. Traders that use these signals will need to keep the site open and running while they make trades from another screen.
One of the complaints that we’ve noticed about this product is that it doesn’t send out signals. If you want to gain trading information, you need to actually be logged into their site and actively monitoring, executing trades from another website. This is inconvenient for busy traders or those that have embraced mobile trading. If you are going to use Binary Copier, we recommend using two monitors, or trading from a tablet while you run the site.
Also, much of Binary Copier relies on what others are doing. There’s potential for this to go either way, but in general, most of the signals provided are generated by other users of the site. In short, this doesn’t necessarily guarantee that they are accurate or well researched trading ideas.
Some of the limitations of Binary Copier are addressed when you create a VIP account with them. Here, you have access to three advanced strategies to help enhance your trading. These are called Indicators in Harmony, Currency Stimulation, and Recurrence Effect. These methods attempt to provide a bridge between the perhaps unreliable signals that others may create and the technical analysis methods that have proven to be successful over the last several decades. A VIP account does not guarantee success by any means, but it does provide a buffer between amateur opinions and the trading tools that professional traders rely upon.
With a VIP account, you can also use what is called a Risk Amplifier. Here, you can gain a better idea of the risk that different trading scenarios entails, and then increase the rate of risk or decrease it based upon your comfort levels.
To activate a VIP account, you need to open up a free basic level account and then make a minimum deposit with an approved broker through the site. This will activate your VIP account with Binary Copier, and allow you to gain access to these features.
If you have any questions or concerns about Binary Copier or you are having any difficulty getting an account set up the way that you want, get in touch with their customer service team. You can speak with them by email or through live chat, whichever is easiest for you. They can walk you through the process and get you started so that you are using this site to its fullest potential.
Our Binary Copier review team found a lot of great features with their site. It is certainly not right for everyone, and many traders will actually struggle with this site, especially if they don’t already have a lot of experience trading binary options. This site does have potential, but you must honestly evaluate your own level of experience before you start using it.
The biggest benefits from Binary Copier come from their VIP account. If you are going to use this site, having a VIP account is the only worthwhile feature that you will gain from it. Social trading is good to have because other experts will often share advice here, but social trading in itself is not a reliable or profitable tool. When you add in the advanced technical algorithms that are included with the VIP status, the utility of this site changes dramatically.
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We recommend Binary Copier for traders that have experience and are looking for a new signals service to enhance their trade reach and success levels. Binary options trading is very risky, and a signals service in itself is not going to eliminate that risk. But by having another pair of eyes evaluating your trades before you make them, it is sometimes possible to incorporate an extra layer of protection. Binary Copier might be just that tool for you.