Android devices are omnipresent. If you are a regular visitor of this blog, you are most likely an Android user. You also would know that there are myriad things you can do with your Android device. One of the things you can do – and you may not expect you would – is doing online binary options trading. Yes, you can do that money-making activity savvy investors are doing with your Android smartphone or tablet!
Binary Options – An Overview
Binary options are a type of option, which in finance means a contract that gives a buyer the right (but not the obligation) to purchase or sell an asset or instrument associated with the option. As the term “binary” implies, binary options involve only two possible outcomes: a fixed monetary value or nothing. However, this does not mean you will only get either a gain or a loss with the options you obtain. This is because the options are only options. Confused? Don’t be!
This post will not really try to educate you about binary options trading. You don’t have to be confused about the whole process of buying, selling, or exercising these options. This post is about Copyop, an Android app designed to help you do binary options trading without having to go through all the confusing terms and mechanics of options trading.
Copyop – Your Key to Simplified Binary Options Trading
Copyop is dubbed as an innovative social trading platform that makes it easy to do binary options trading. With the “Watch Copy Trade” tagline, this Android app is supposed to help you find success in binary options trading by simply watching others do the trade and copying what the successful traders do. It is both a platform (service) and app that use the technology developed by Anyoption, one of the world’s biggest binary options trading platform. This means that there’s a complete system on the cloud that handles the binary options transactions you do with the app, and it’s not just some makeshift system that connects you to other services.
If you’re really serious about binary options trading, you can be assured that the data and transactions that go through the Copyop app are accurate and reliable. The traders you will see on Copyop are guaranteed to be a real private trader. Additionally, the Copyop website also offers the assurance that high-end technology and proprietary programming have been employed to ensure the accurate execution of trades and copies.
The Copyop app has a relatively simple user interface that is intuitive enough even for new users who have very minimal knowledge about binary options trading. Of course, while Copyop is designed to simplify the process of making money with binary options, it’s still very important to know something about binary options. After all, binary options trading, even with Copyop, is not some casual game that you can just play to kill some time.
The Copyop dashboard presents traders together with some useful information about them. What you are supposed to do is to find outstanding traders so you can copy their successes. Use the “Live Social Feed” or the “Hot Traders” functions to find the traders you can copy. If you think a trader is worth copying, you just have to press the Copy button. As a quick guide, look for traders with the highest “Hits.” The “Hits” are numbers that indicate the percentage of the number of successful of trades over the total number of trades made.
Copying a trader, however, does not necessarily mean that you will be copying everything the trader does. You will be given the option to specify the number of trades, the amount to copy, and the assets to copy. If you don’t feel like copying a trader yet, you can just “watch” the trader by pressing the Watch button. Once you become a “watcher,” you will be getting more information feeds from the trader to help you decide if the trader is worth copying.
You can log in to Copyop through an Anyoption account or through your Facebook account.
Image Credit: Copyop
Copyop – For New and Experienced Traders
Copyop is not created only for the benefit of binary option trader wannabes. The platform is meant for “copiers” and experienced traders who are being copied. Both can derive benefits from using the platform. Copiers can make money with reduced risks by copying successful traders while those copied can earn Copyop points or coins that are redeemable in real cash.
As mentioned, Copyop is not meant for those who are clueless about binary options trading. Its main purpose is to share and connect trading activities in real time to help others in finding success in binary options trading. It is not some basic guide app that will orient you with the process of binary options trading.
The short answer: because you want to be successful as others. Of course, there’s also a longer answer. You may want to copy other traders because their greater experience and savviness can be advantageous to you. Doing this can considerably reduce the risk of losing your money. Again, it’s worth emphasizing that this app is not just some random game. You can lose real money as you do binary options trading. Furthermore, the act of copying other traders can also provide learning experiences. You can learn from observing the trading processes and outcomes because the Copyop app offers various useful graphs, charts, and statistics to make you more acquainted with the different traders and assets on the market.
Image credit: Copyop
Should You Really Try It?
If you are not really serious about options trading and if you know almost nothing about the trade, it’s better to simply skip Copyop. Copyop is not for habitual Android copycats who randomly install apps because others installed them or because it was recommended on the Google Play Store. Try Copyop if you are really interested in binary options trading. It’s an interesting app with an intuitive interface that can guide you in becoming more familiar–even adept–in binary options trading. Copyop’s official website has comprehensive information about the app as well as useful details about binary options trading so you can read everything first and decide if you can really make good use of this app.