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Social Trading applied to binary options

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One of the most important developments in the field of financial markets in recent years is the social trading in its various forms, not only because it allows traders of all types and levels of experience contact and share ideas, strategies and experiences but also because it has become a means to access the markets for beginners traders with little experience and knowledge on the subject. For example, the copy trading has become a tool used by thousands of investors worldwide to profit in different markets. In this sense, the Forex sector has been highlighted by the rapid development of social trading, with the emergence of many companies specializing in the creation of networks and copy trading platforms. Also, a lot of Forex brokers, including the most important, are offering complete solutions of social trading to their clients, and this sector continues to grow every day.You can find more information about the social trading in the Forex market on the following link:

-Forex social trading networks

In the case of binary options, the development of social trading has been slower, but is quickly catching up with the Forex. As in the case of the Forex market, more and more brokers and companies in the sector are creating and implementing automated trading solutions, specializing mainly in copying the transactions of other traders. In this sense, there is currently no social trading networks as developed as in the case of Forex, but certainly the trader interested in these derivatives can find solutions that fit their needs, especially in copy trading, which we will explain in the following paragraphs.

In this section we will explain in general terms how  the social trading is implemented in binary options and what are the main options for traders interested in investing in these instruments through copy trading solutions, for example.

Social trading with binary options

As we mention above, the solutions of social trading for binary options today are based mainly in the concept of copy trading, which is the automatic and semi-automatic copy of trades performed by other traders, including professionals traders with years of experience in the market. In this sense, these social trading solutions usually consist in applications designed to display transactions of other traders as trading signals (type of option, underlying asset and maturity) along with buttons to copy each trade with a single click. These applications have a simple and easy to use interface, even for inexperienced traders in binary options. Although they  lack the complexity of social networks for Forex traders  at  the same time comply fairly well with the function for which they were created.

Most social trading solutions for binary options, especially of copy trading,  were created by trading platform providers as SpotOption and Tradesmarter, so they are fully integrated into these applications. In fact, the largest providers of social trading for binary options are brokers using these platforms which are starting to offer this service to their customers. For example, in the trading platform  SpotOption the copy trading feature is called Follow Me and is shown below:

Social trading platform for binary options

As we can see, this platform shows the ranking of the best traders of the broker (signal providers), open and closed positions, money earned, number of followers and other important statistics.

Likewise, there are also companies that specialize in the field of social trading for Forex and Contracts For Difference, which are also beginning to offer binary options among its products. This is the case with Zulutrade, one of the biggest social trading companies in the world.

Major social trading solutions to trade binary options

In the following table we present the best social trading options for traders interested in investing in the binary options market:

Networt/Social Trading application

Company

Review

It is an application developed by EmpireOption which allows to follow and copy with one click all trades performed by other clients of this broker who trade regularly in the binary options market. It displays updated statistics for every trading signal provider.

Spot Follow of BeeOptions

Spot Follow is a social trading application developed by SpotOption, the provider of the trading platform used by BeeOptions. This feature allows to copy the transactions of other traders with one click and also shows the updated statistics of each trading signal provider.

Social trading network of ZuluTrade

Zulutrade is one of the largest companies in the automated trading sector today. Initially it was focused on Forex and precious metals (gold and silver). However, since the middle of 2014 ZuluTrade incorporated binary options trading among its products. Currently it has thousands of traders (signal providers), including professional traders.

Social trading platform of BetOption

BetOption

BetOption offers a social trading application developed by Tradesmarter, the provider of theirtrading platform. This application allows to view, share and copy the transactions of other traders with one click.

Social trading platform of OptionSmarter

Optionsmarter offers a social trading application developed by Tradesmarter, the provider of theirtrading platform. This application allows to view, share and copy the transactions of other traders with one click.

Trade Follow of TitanTrade

TitanTrade

Trade Follow is a social trading application developed by SpotOption, the provider of the trading platform used by TitanTrade. This feature allows to copy all transactions performed by other traders with one click and also shows the updated statistics of each trading signal provider.

Spot Follow of GOptions

Spot Follow is a social trading application developed by SpotOption, the provider of the trading platform used by GOptions. This feature allows to copy all transactions performed by other traders with one click and also shows the updated statistics of each trading signal provider.

iFollow of Redwood Options

iFollow is a social trading application developed by SpotOption, the provider of the trading platform used by Redwood Options. This feature allows to copy all transactions performed by other traders with one click and also shows the updated statistics of each trading signal provider.

 


 

 

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