Binary Options Copy Trading
Binary options copy trading is a hands-off approach to investing that involves replicating the positions of other traders. But whilst often touted as a straightforward way to produce profits, wins aren’t guaranteed. Here, we explain how binary options copy trading works and we list the best brokers and software in 2024.
Binary Options Copy Trading Brokers
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1Pocket Option50% Deposit Bonus
Ratings
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, AirtelUSD -
2IQCent20% to 200% Deposit Bonus
Ratings
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
3Videforex20% to 200% Deposit Bonus
Ratings
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
4RaceOption20% - 200% Deposit Bonus
Ratings
$250$0.011:500Binary Options, CFDsTradingViewCredit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
5BinaryCent20% - 200% deposit bonus
Ratings
$250$0.011:500VFSCCFDs, Forex, Stocks, Cryptos, Options, CommoditiesOwnVisa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum PaymentsUSD -
6World Forex100% Deposit Bonus
Ratings
$10.01 Lots1:1000SVGFSAForex, CFD Stocks, Metals, Energies, Cryptos, Digital ContractsMT4, MT5Wire Transfer, Debit Card, Credit Card, Visa, Mastercard, Google Wallet, Apple Pay, Perfect Money, Bitcoin Payments, VoletUSD, EUR, RUB
Here is a short summary of why we think each broker belongs in this top list:
- Pocket Option - Pocket Option offers ultra-short-term binaries from 5 seconds on one of the simplest web platforms for beginners. Payouts rival alternatives at 90%+ while the ‘Double Up’ and ‘Rollover’ features provide further opportunities to profit. Considering the negatives, the suite of 130+ assets trails binary brokers like Quotex, which offer 400+.
- IQCent - IQCent offers binary options with above-average payouts up to 98%. The broker supports an online platform with basic analysis tools but a wide range of timeframes, from 1 minute to 1 month, catering to short and long term trading strategies. Considering the negatives, there are no binaries on stocks.
- Videforex - Videforex continues to offer binary options with 20% payouts on crypto and up to 98% on less volatile assets, beating many competitors. A wide range of contract lengths are also supported from 5 seconds up to 1 month. New users will appreciate the welcome deposit bonus.
- RaceOption - RaceOption offers 100+ binaries with decent payouts up to 95% and ultra-fast expiries from 5 seconds. With a $250 minimum deposit, clients can enjoy free deposits, fast withdrawals and a range of trading bonuses.
- BinaryCent - BinaryCent provides binary options trading on a range of markets through a slick proprietary platform. Traders can invest as little as $0.10 per trade and earn payouts up to 95%, and these are excellent terms that accommodate casual and low-capital traders while allowing profit opportunities.
- World Forex - World Forex offers binary options where you simply decide the stake, price direction and contract timeframe. The payouts are high at up to 100% on American contracts and 85% on European, which also offers a partial refund to traders who close contracts before expiry.
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Jemma Grist, Reviewer
Pocket Option Quick Facts
Bonus Offer | 50% Deposit Bonus |
---|---|
Minimum Deposit | $50 |
Payout % | 92% |
Expiry Times | 5 seconds - 4 hours |
Copy Trading | Yes |
Platforms | Web, MT4, MT5 |
Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
Account Currencies | USD |
Pocket Option Copy Trading
Pocket Option hosts a user-friendly social trading service. Available in the platform, you can use the ‘Top Ranked Trades’ leaderboard, among others, to find traders to follow. The social trading solution is also available 24/7 and has active community chats. Tip: check the number of trades made and profit generated over several months rather than comparing providers over a few days.Pros
- The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
- Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
Cons
- The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
- The MISA is a weak regulator with limited investor protection for retail traders
- Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
Jemma Grist, Reviewer
IQCent Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
Minimum Deposit | $250 |
Payout % | 98% |
Expiry Times | 5 seconds - 1 month |
Copy Trading | Yes |
Platforms | Online Platform, TradingView |
Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
Account Currencies | USD, EUR |
IQCent Copy Trading
A copy trading service is pre-integrated into the broker’s web platform, where you can follow and replicate the trades of up to 10 established investors. Where it shines is its ease of use - you simply decide how much you want to invest and hit 'copy'. On the downside, the pool of master traders is narrow and you get limited data on past performance, making it less reliable.Pros
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
- Keen traders can take part in trading contests with cash prizes
Cons
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- The market analysis is very basic with limited technical summaries and insights from analysts
- There's no automated trading support for algo traders
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
William Berg, Reviewer
Videforex Quick Facts
Bonus Offer | 20% to 200% Deposit Bonus |
---|---|
Minimum Deposit | $250 |
Payout % | 98% |
Expiry Times | 5 seconds - 1 month |
Copy Trading | Yes |
Platforms | TradingView |
Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
Account Currencies | USD, EUR, GBP, AUD, RUB |
Videforex Copy Trading
Videforex offers an integrated copy trading service where users can automatically or manually replicate the positions of other traders. Simply choose a trader and asset class and specify the investment amount.Pros
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
Cons
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
RaceOption
"RaceOption will appeal to investors looking for a feature-rich binary options trading experience with regular contests, account-based perks, and copy trading. The catch is its unregulated status, with little to zero investor protections available based on our investigations."
William Berg, Reviewer
RaceOption Quick Facts
Bonus Offer | 20% - 200% Deposit Bonus |
---|---|
Minimum Deposit | $250 |
Payout % | 95% |
Expiry Times | 5 seconds - 30 days |
Copy Trading | Yes |
Platforms | TradingView |
Instruments | Binary Options, CFDs |
Account Currencies | USD, EUR, GBP, AUD, RUB |
RaceOption Copy Trading
Replicate the positions and strategies of multiple traders while leveraging the RaceOption leaderboard. You can start copy trading in three fast steps and follow multiple traders simultaneously.Pros
- Payouts on popular underlying assets like EUR/USD can reach 95%, beating out most alternatives based on our evaluations, and increasing potential returns, while the first 3 trades are risk-free in Silver and Gold accounts.
- RaceOption is in the less than 1% of brokers that offers video chat, available 24/7 in multiple languages, although the knowledge of agents about trading and regulatory issues needs improvement from our direct experience.
- RaceOption makes account funding a breeze with fee-free and near-instant deposits via bank cards and cryptos, plus guaranteed withdrawals processing within 1 hour.
Cons
- While still affordable for many retail investors, the $250 minimum deposit raises the entry barrier, especially compared to Deriv and World Forex who are designed for budget traders.
- RaceOption is one of the only brokers not to offer a demo account, which when considered alongside the absence of education, makes this broker a poor choice for beginners.
- RaceOption is an unregulated, high-risk broker that doesn’t provide investor compensation or legal recourse options should you run into trading or withdrawal issues.
BinaryCent
"Traders who want a reliable binary options broker with a streamlined platform and high payouts should try out BinaryCent."
Tobias Robinson, Reviewer
BinaryCent Quick Facts
Bonus Offer | 20% - 200% deposit bonus |
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Minimum Deposit | $250 |
Payout % | 95% |
Expiry Times | 5 seconds - 30 days |
Copy Trading | Yes |
Platforms | Own |
Instruments | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
Account Currencies | USD |
BinaryCent Copy Trading
The copy trading tool is available for all account types, including the lowest - Bronze. You can pick a trader based on their returns and ranking. The sign-up process is quick and account activation is instant.Pros
- Trade binary contracts from $0.10 allowing trading opportunities for all budgets
- Accepts a wide range of funding methods, including cryptos and e-wallets
- Payouts up to 95% are higher than most competitors and increases profit potential
Cons
- The $250 minimum deposit is higher than most binary options brokers
- Not overseen by any reputable regulator, raising risks and reducing customer protections
- Not available to traders based in the US
World Forex
"World Forex provides both highly leveraged CFDs and digital contracts, making this a good broker for clients who want flexible and rewarding ways to trade. The copy trading service will also appeal to newer traders."
Tobias Robinson, Reviewer
World Forex Quick Facts
Bonus Offer | 100% Deposit Bonus |
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Minimum Deposit | $1 |
Payout % | 100% |
Expiry Times | 1 minute - 7 days |
Copy Trading | Yes |
Platforms | MT4, MT5 |
Instruments | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
Account Currencies | USD, EUR, RUB |
World Forex Copy Trading
Use copy trading signals on MT4 to replicate strategies in your own live account. No additional fees apply and the platform is available via downloadable software plus a web-accessible solution.Pros
- VPS hosting
- Demo account
- Swap-free account available
Cons
- No negative balance protection
- Weak regulation
- Withdrawal fees apply
Binary Options Copy Trading Explained
How Binary Options Work
Binary options are a class of derivative instrument that let you speculate on financial markets by selecting from one of two possibilities. This is often likened to answering a “yes or no” question about whether the value of an asset will rise above or fall below what is known as the strike price. If you correctly predict the answer, you will earn a predetermined, percentage payout of your stake. If not, you will lose your entire investment. This leads to their other name, “all or nothing” options.
There are several popular contract options:
- In/Out – Whether the asset’s value will be within two strike prices at the expiry time
- High/Low – Whether the asset’s value will be greater or lower than the strike price at the expiry time
- Touch/No Touch – Whether the asset’s value will reach a certain price at any point before the expiry time
How Copy Trading Works
Copy trading, a form of social trading, involves following and imitating other investors. This is often automated through dedicated copy trading tools within existing platforms. This means you can simply assign funds to copy other traders at the exact times they open or close positions.
With binary options copy trading, this process is available on software that supports the purchase of these derivative contracts. More specifically, if a trader you copy purchases a contract, your account will purchase the same contract at the same time, with the same strike price and expiry time.
Supporting brokers generally allow you to search through a wide array of expert traders, with full histories of their options types, assets, strike prices and success rates. You may have reduced buying power and wish to stake less capital than the expert, so you can set a percentage or value limit to be used for copy trading.
Getting Started
Use this step-by-step guide to start trading:
- Find a brokerage that facilitates binary options copy trading and create an account. Keep in mind that not all platforms offer binary options and not all brokers allow copy trading. See our list of supporting platforms.
- Connect a payment method or pre-fund your account so you can copy the expert’s trades as soon as they purchase a contract.
- Identify other clients and traders that you wish to copy. Often, brokers will have a leaderboard-style page on their website with details of different people to help you decide. We recommend that you do not copy just one trader as you would be solely dependent on their success. Following several traders will spread your risk.
- Sit back and wait for positions to expire and check their outcomes.
Comparing Brokers
Price
One of the most important factors to consider when weighing up different copy trading binary options brokers is costs. These could be in the form of trading fees, subscription charges to access expert traders or lower percentage profits per trade.
Any fees can easily build up and quickly eat into profits. However, there can be a correlation between higher costs and greater quality. Therefore, you need to determine what you would be comfortable paying for the service.
Platforms
Software tools for binary options copy trading are less important than other forms of short-term speculation, such as CFD day trading. However, it is important to ensure that a broker’s trading platform is both effective and easy to use.
Ideally, the software should have an intuitive interface, provide you with all the required information on potential master traders and allow for easy contract purchase. Furthermore, if you plan to do any market analysis yourself, ensure that there are suitable technical indicators and graphical objects.
Customer Support
A broker’s support structure can have a large impact on your experience binary options copy trading. If you are having issues that interrupt your trading, any time lost means that you are, in effect, losing money.
Being able to access 24/7 support, either via live chat or over the phone, can help to solve problems quickly, so you can return to executing trades as soon as possible. Look out for contact methods that you prefer to use, such as email, alongside long office hours and language options.
Reviews
It is difficult to understand how a particular broker operates by only reading the website or looking at the app. You may, understandably, have questions over how trustworthy and reliable a platform may be. There are many websites, forums and binary options trading clubs online that can help with this.
The best ones will host plenty of discussions, where you can read about other traders’ opinions and experiences with particular platforms. See our list of the best binary options copy trading brokers with accompanying reviews.
Comparing Binary Options Copy Trading Experts
You need to evaluate the different expert traders available for copy trading. Master traders will have a direct impact on your success, so this is not a decision you should take lightly.
Profitability
One of the two key considerations is how successful they have been so far. While past performance is no guarantee of future performance, you probably want to avoid a trader who is out of the money in four of every five trades.
Experience
When deciding between expert traders, look at how many trades they have made and how long they have been going. You can place more confidence in experienced investors, assuming that they will understand binary options well enough to not make rash decisions that lead to large losses.
Risk
Before you start copy trading binary options, you should determine what level of risk you are comfortable with. While copying riskier expert traders may lead to greater profits, you can just as easily, lose your capital.
Pros
There are many benefits to binary options copy trading:
- Simplicity
- Saves time
- Easy to understand
- Earn as trader and copier
- Learn from successful traders
- Limited technical analysis required
Cons
There are also drawbacks to binary options copy trading:
- Disconnect between you and your capital
- Some experts charge high commissions
- Assets limited in certain jurisdictions
- Profits not guaranteed
- Easy to overlook risks
- Potential for scams
Final Thoughts
Binary options copy trading offers a hassle-free approach to financial speculation. The potential to lower risk by mirroring positions opened by experts is attractive, though you should not be fooled into thinking that this is always safe. You should research thoroughly to find the best expert traders possible and, even after selection, you should be proactive and continually review your trading activities.
FAQs
What Is Binary Options Copy Trading?
Binary options copy trading involves mimicking the positions taken by other clients on your platform. This can be done manually or automatically, assigning your full account capital or just a portion to copy the contract details purchased by expert traders. This means that if they purchase a high/low option at a certain price, your account will do the same, taking away the effort of manually analysing the markets.
Is Binary Options Copy Trading Legal?
Yes, copying the trades of binary options is legal and facilitated by some of the best brokers. However, the sale of binary options themselves is restricted in some regions.
How Do I Become An Expert Binary Options Trader?
Firstly, you need to be a trader that others will want to copy from. This means demonstrating that you know how to make consistently profitable trades. Once you are confident, you need to apply to your desired broker with a verified account. Ensure that you meet the platform’s criteria for expert traders. You will often need to provide a description to advertise yourself, including your chosen trading strategy and experience. Some software may let you set your own commission rates.
Where Can I Find Advice On Binary Options Copy Trading?
There is a plethora of trading communities and clubs online where you can discuss binary options copy trading. Forums such as Reddit and groups on social media websites are great ways to seek trading advice, regardless of how niche the topic you are searching for is.
What Stake Value Is Recommended For Copying Binary Options?
Usually, retail traders aim to only risk around 1% of their account, with a maximum of 3% if they accept higher risks. However, the best advice is to only trade with what you would be comfortable losing.