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Social trading platforms are some of the most recent advancements in the world of binary investments. Not only is it possible for novices to glean advice from experts, but the ability to follow traders offers a very real competitive edge. There are a number of binary options brokers which offer this turnkey service and knowing which ones are the best will help investors encounter the platform that best suits their unique needs. Let us take a closer look.
Many have argued that ZuluTrade is the largest social media trading platform, and for good reason. It is said that this portal boasts the highest number of traders as well as expert investors who provide regular insight into the world of binary trading. Another massive benefit which certainly drives clients to this site is the fact that it offers a system of copy trading which supports multiple brokers. A free demonstration account is offered before the user commits to a paid subscription.
eToro was one of the first platforms which allowed investors to follow traders through social interactions. However, we should also highlight that eToro is primarily designed for novice investors who are still "learning the ropes" in terms of strategy and execution. This is often why eToro could be the perfect solution before moving on to more advanced platforms. This website also provides a free demonstration package.
CMC Markets is one of the largest trading firms within the United Kingdom while they also have offices in Australia and New Zealand. Social trading is supported on both personal computers and mobile devices. Besides the ability to copy trades from professionals, there is a large online repository of information to help novice investors hone their skills. When these amenities are combined with intuitive trading platforms and more than 80 technical tools to choose from, it becomes clear why CMC Markets has enjoyed a considerable amount of popularity in recent times.
Tradeo was one of the only firms which began solely as a social trading platform (as opposed to offering this service as one of many options). Founded in 2012, Tradeo has been making waves in the binary options community ever since. Another interesting advantage associated with Tradeo is that an algorithm was launched in 2013 that mimics the movements of specific traders followed by the client. So, automatic social trade executions are now a reality.
The platform copyop is actually owned by AnyOption, so quality is never an issue. It was launched in 2015 and it has been gaining followers ever since. All data is updated in real time and traders can automatically copy the movements of other successful options investors. This information is real as opposed to being influenced by the use of binary "bots" (a downfall of low-quality sites). Finally, copyop is designed to be a fun and user-friendly portal; a great option for those who have just entered into the world of binary options.