Pocket Option – How to start Copy Trading?
Are you interested in trading but don’t have the experience or knowledge to do so? Copy trading might be the perfect solution for you. Pocket Option, a popular online trading platform, offers copy trading as a feature that allows beginners to follow and duplicate the trades of experienced traders. In this blog post, we will guide you through how to get started with copy trading on Pocket Option and share some tips on whether it’s worth trying out. So sit back, relax, and let’s dive into the world of copy trading!
- Pocket Option is regulated by the IFMRRC
- This broker offers a free demo account
- On the platform you will find the ability to copy traders and signals
- If you open an account from the link below you will receive a 50% bonus to your deposit!
What is copy trading on Pocket Option platform?
Copy trading is a relatively new concept that has taken the online trading world by storm. It allows beginner traders to follow and duplicate the trades of experienced traders, essentially copying their strategies for successful trades. On Pocket Option, copy trading is available as a feature that users can access within their accounts.
To start with copy trading on Pocket Option, you need to search for experienced traders whose performance aligns with your goals and risk tolerance. Once you’ve found a trader you want to follow, simply click on the “Copy” button next to their profile picture and choose how much money you want to allocate towards copying their trades.
One of the benefits of copy trading on Pocket Option is that it allows inexperienced traders to learn from experts without having any prior knowledge or experience in forex or binary options trading. Additionally, it saves time since there’s no need for extensive research or analysis before making a trade.
However, it’s important to note that not all copied trades will be profitable as past performance does not guarantee future success. It’s crucial to do your due diligence when choosing which trader(s) to follow and keep track of your progress regularly.
In summary, copy trading on Pocket Option offers an easy-to-use platform for novice traders who want exposure in forex/binary options without extensive research while learning from professionals’ expertise through social networking features such as following/followers stats tracking toolbars!
How to start copying traders?
Copying traders on the Pocket Option platform is a simple process that can be done in just a few steps. Here’s how to get started with copy trading:
Step 1: Create an Account
To start copying traders, you’ll need to create an account on Pocket Option. This involves providing your personal details and verifying your identity.
Step 2: Fund Your Account
Next, you’ll need to deposit funds into your account so that you have money available for copying trades. There are several payment options available on the platform, including credit/debit cards and electronic wallets.
Step 3: Go to “Social Trading” Tab & Choose a Trader to Copy
Once your account is funded, it’s time to choose a trader to copy. You can browse through the list of top-performing traders on the platform or search for specific criteria such as profitability or risk level.
Step 4: Set Your Copy Trading Settings
Before you start copying trades, you’ll need to set some parameters for your copy trading settings. This includes choosing the amount of money you want to allocate per trade and setting stop-loss.
Step 5: Start Copying Trades!
With all settings in place, it’s time to start copying trades! The Pocket Option platform will automatically execute trades from your chosen trader into your own trading account according to your specified settings.
By following these five simple steps, anyone can start copy trading on Pocket Option – regardless of their experience level or knowledge of financial markets!
Is it worth trying to copy traders?
Copy trading has become a popular strategy among traders who want to benefit from the experience and success of others. However, is it really worth trying? The answer depends on various factors such as your investment goals, risk tolerance, and the reliability of the traders you are copying.
One advantage of copy trading is that it requires minimal effort and knowledge to get started. You simply select a trader or group of traders whose strategies align with your preferences and allocate funds accordingly. This can be ideal for beginners who lack experience in financial markets.
Another benefit is that you have access to a wider range of trading opportunities than if you were only relying on your own analysis. By copying successful traders, you can gain exposure to different asset classes and markets that may not have been on your radar previously.
However, there are some risks associated with copy trading. Just because someone has had success in the past doesn’t guarantee future profits. Markets are constantly changing, so even experienced traders may make mistakes or face losses during certain periods.
Additionally, there is always a chance that the trader(s) you are copying may engage in risky behavior or fraudulent activities without your knowledge. It’s important to thoroughly research any traders before committing funds to their strategies.
Whether copy trading is worth trying ultimately depends on individual circumstances and preferences. While it offers benefits like ease of use and access to diverse opportunities, there are also potential risks involved that should be carefully considered beforehand.
As we come to the end of this article, it’s important to mention that copy trading on Pocket Option can be a great way for beginners and experienced traders alike to take advantage of the expertise of others. By following successful traders, you can learn from their strategies and potentially boost your profits.
However, it’s important to remember that there are always risks involved in trading, even when copying other traders. It’s crucial to do your own research and analysis before making any trades or investments.
Additionally, while Pocket Option offers a user-friendly platform for copy trading, it may not be the best fit for everyone. Consider your personal goals and preferences as well as any fees or limitations associated with the platform before diving in.
Copy trading on Pocket Option is certainly worth exploring if you’re looking for a new way to approach the markets. With careful consideration and some trial and error along the way, you may find success by following in the footsteps of top-performing traders.
Is Pocket Option a reliable platform for copy trading?
Yes, it is. Pocket Option has been in the market since 2017 and has gained a positive reputation among traders.
Can I copy multiple traders at once?
Yes, you can. In fact, copying multiple traders can diversify your portfolio and reduce risk.
How much does it cost to start copy trading on Pocket Option?
The minimum deposit required to start copy trading on Pocket Option is $50.
What if the trader I’m copying loses money?
Copying traders always involve some level of risk. However, you have the option to stop copying them anytime before incurring significant losses.