What Are Binary Options Signal Trading Platforms?
Binary options copy trading software platforms are platforms that allow professional traders to provide signals to others. The people who will be receiving these signals will be able to act on them either manually or automatically.
In short, copy trading platforms allow regular traders to copy the actions performed by professionals. This way regular traders will be able to profit from the expertise of high-profile professionals without actually having to do anything.
Naturally, those high-profile professionals aren’t revealing their trade secrets for free. Traders will have to pay a small commission on the profits they make to these professionals. But it’s very important to remember that commissions will exclusively be paid on profits only.
If the signals that professionals supply to regular traders will not generate profits and the copied trades will turn out to be unsuccessful, then normal traders will of course not have to pay anything whatsoever.
This means that those professionals are genuinely interested in providing accurate and reliable signals that result in successful trades generating profits. – This is the only way for them to make money.
How do they work?
When it comes to regular traders, they will have to purchase a binary options copy trading platform. After this, they will be able to follow certain professional traders who are offered by the platform service provider.
Each time one of those professional traders perform an action such as buying a contract, a signal will be given to the trader who followed the professional. Based on the settings adjusted on the platform the trader may now decide to manually execute the action as the one performed by the professional, or allow the software to automatically do this without requiring the trader to do anything.
If the trade that was executed by using a signal will turn out to be successful, then the trader will make profits. The binary options mirror trading software will then automatically charge a small commission from this profit and give it to the professional who provided the signal.
But like explained above, if a trade that was performed based on a signal will turn out to be unsuccessful, then the trader will obviously not pay any commission at all. Likewise, the professional who supplied the signal would have also lost money on his trade in this case.
When it comes to professionals, they will have the opportunity to apply to become signal providers. In order to do so, they will have to prove that they are indeed qualified to offer financial trading signals and have generated consistent profits over the past few months and sometimes even years.
Each time these professionals execute a trade, the binary options copy trading software they use will automatically reveal the details of this action to the people who follow the professional. In case the trade turns out to be successful, then the professional will get a commission from all the people who have followed him and performed the same action.
If, however, the trade will not be successful, then the professional will not get any commission at all. Also, the professional will obviously also lose the money he himself has invested in the respective financial investing contract.
Are they safe?
If you have read the above paragraphs, then you know that binary options signal trading can only work if everyone involved makes money. As such, it’s safe to assume that most of the binary options mirror trading software platforms out there are reliable and safe.
However, not all platforms might necessarily be good in the sense that they perform well in regards to speed of execution of contracts, visual appearance and more. Read the below segment in order to find out how to find the best binary options signal betting platforms.
How to Determine the Best Copy Trading Platforms
Like said above, not all platforms of this kind are equally good. Some might have been developed with programmers with good intentions but with lack of experience. These platforms usually feel very sloppy and unprofessional. Read below to find out more.
Does the platform look good?
We’re in 2013 now and as such any kind of program and platform is expected to be visually appealing. Do not choose a financial investing signal inesting service platform that looks amateurish. It usually means that amateurs developed the platform and it’s likely that it has other kinds of flaws as well.
Has it any errors and glitches?
A platform of this kind should also not have any bugs and errors. You are trading with real money, so you will have to make sure that the services you are being offered are of high quality. Another important element here is the speed of execution.
In binary options the moment you place a bet matters a lot. So, if a professional trader made a prediction during a certain moment the same prediction might not come true if you copy his prediction 30 seconds later.
For this reason, a copy trading platform in financial investing should copy the actions performed by the followed professionals the instant those professionals perform an action and not any seconds later.
Is it developed by a reputable company?
You should not trust a platform that was developed by amateurs and no names. It might be that a platform developed by newcomers and startups is really great, but still you should not take the risk and be the guinea pig. It’s about real money here, so just stick to the platforms that are known to be 100% reliable.
Does it have a long history of accuracy?
And finally, you have to make sure that the binary options automatic trading platform you’re using is known for providing reliable and accurate signals. There is no need to choose a new and untested platform because it might turn out that it will provide inaccurate signals.
Toplist of the best binary options copy trading platforms
If you want to use a platform of mirror financial investing then you should consider the ones that we have listed on this page. In our opinion, these are the ones that perform the best at this moment in the binary options business.
They were all developed by companies being in the business for multiple years and known for developing reliable technology. The platforms listed here are also widely known in the industry to supply accurate signals that will help traders win.
You should read the reviews we created about these platforms to convince yourself. Additionally, you should also check out our other articles and guides related to copy investing in financial betting. These will teach you how to use this concept more efficiently for your benefit.