To copy a trade in the Pocket Option, log in, select a trader from the list, and click the “Copy” button. The system will automatically replicate the chosen trader's trades in your account.
Pocket Option Copy Trade Service - Can You Make Money Copy Trading?
Updated: March 13, 2024
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Have you ever watched talented traders in action and dreamed of replicating their success without having to spend hours poring over charts and indicators? Pocket Option's copy trading service allows you to do just that by following top performers on their platform. By automating the process of placing the same trades as experienced traders, copy trading opens up an easy path to potential profits. Of course, opportunities often come with risks - simply copying others' decisions means having little control over your own fate in the market. In this guide, we take an in-depth look at how Pocket Option's copying works, the pros and cons to consider, and crucial tips for finding reliable traders to follow.
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Is there a fee for using the copy trading feature?
Pocket Option charges a small commission on trades, typically around $0.5. There are no separate fees solely for using the copy trading feature.
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Can I copy trades from multiple traders simultaneously?
Yes, Pocket Option allows users to copy trades from multiple traders at the same time to diversify their portfolio.
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How do I know if a trader I'm copying is still active?
Pocket Option provides daily activity stats for traders. You can also check their open positions and recently copied trades to ensure they remain active.
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How do I get notified about trades by copied traders?
Pocket Option offers push notifications for new trades by copied traders.
What does copy trading mean
Copy trading is an automated mechanism that empowers investors to imitate the investment strategies and portfolio decisions of experienced, successful traders. The Pocket Option copy trading service allows traders to earn by replicating trades on the platform. This innovative approach democratizes access to investment strategies once available only to finance professionals. Copy trading's primary appeal lies in its potential for amplifying profits while reducing the time and knowledge required to analyze market trends. Nonetheless, as with all investment channels, the potential for profit must be balanced against the risk of loss inherent to trading.
Pocket Option copy trading pros and cons
👍 Pros
• Low initial amount to start trading - the first deposit starting with $50.
• Fast verification of the Personal Account and phone number.
• Educational materials, video guides, and a demo account.
• Social trading platform to receive passive income.
• Trading indicators and signals.
• Professional tech support in live chat.
• Beneficial affiliate program.
👎 Cons
• The International Financial Market Relations Regulation Center issues the only license.
• Live chat communication with the Support Service is possible only after you’ve made a deposit.
How to get started with Pocket Option copy trading?
Starting with Pocket Option copy trading is a straightforward process:
Step 1: Access the Pocket Option login
Your first step is to visit the official Pocket Option website. Once there, you'll find the login button prominently displayed. Click on it and enter your credentials. You'll need to create an account if you're a new user. During registration, you must provide basic information about yourself, such as your name, email address, and contact number. After successful registration, you can log into your newly created account.
Pocket Option copy trading Illustration
Step 2: Access the Pocket Option login
Before starting trading, you must have some capital in your account. Pocket Option requires a minimum deposit to get started, ensuring you have the necessary funds for trading. This deposit can be made using various payment methods, including credit cards, bank transfers, or e-wallet services. The deposit process is secure and swift, meaning your funds will be ready for use almost immediately.
Step 3: Copy the strategies of your preferred trader
Once your account is funded, it's time to start copy trading. Pocket Option presents you with a list of successful traders, their trading statistics, strategies, and portfolio composition. You can review this information to select a trader whose strategy aligns with your investment goals and risk tolerance.
Once you have chosen a trader to copy, click on the “Copy” button associated with their profile. Doing so tells Pocket Option to mirror the selected trader's activities in your account. This means that whenever the copied trader executes a trade, the same trade will be executed in your account relative to the size of your investment.
Step 4: Withdraw when you make a profit
The ultimate goal of trading is to make profits, and with Pocket Option copy trading, you'll hopefully see your account balance grow over time. Once you've made enough profit, you may wish to withdraw some of your funds. Pocket Option withdrawal can be made through the withdraw button easily.
Pocket Option copy trading Illustration
How to find the right trader to copy
Choosing the right trader to copy is crucial for success. Here's how you can find a reliable signal provider:
Trusted traders: Research traders' reputations. The more followers they have, the more trustworthy they are likely to be.
Returns: High returns indicate a successful trading strategy. However, be cautious of traders with inconsistent, unusually high returns.
Number of trades: A higher number of trades suggests experience, but consider the trader's win-loss ratio.
Risk score: Traders with lower risk scores are generally more consistent and less likely to make risky trades.
Consistency: Stable, consistent returns are generally preferable to sporadic, high returns.
Open trades: Examine the trader's current open trades to understand their current strategy and risk level.
Maximum drawdown and winning trades: A lower drawdown and a high percentage of winning trades suggest a reliable trader.
Level of activity: Active traders are likely to keep up with market trends and adjust their strategies accordingly.
Diversify across multiple managers: Copying only one manager concentrates risk. Spreading out among traders with different strategies can smooth returns.
What does Pocket Option copy trading cost
Pocket Option's copy trading service is primarily funded through commissions rather than spreads, with a standard commission of about $0.5 per trade. This pricing model applies to binary options trading accounts. Additionally, overnight or swap fees are charged for positions held for more than one trading day, with fees tripled from Wednesday to Thursday. However, the potential profits from successful trades can often outweigh these costs.
Is Pocket Option copy trading safe?
Copy trading carries inherent risks that traders should consider before getting started.
Traders have no control over copied trades. You rely entirely on the decisions of the trader you copy.
Potential for significant losses if the copied trader underperforms. Their losses directly impact your account.
Over-diversification can lead to contradictory trades and losses. Copying too many traders can result in overlapping and offsetting positions.
Lack of understanding of copied trader's strategy and reasons for trading. Blindly following signals is risky if you don't understand the rationale.
Copy trading does not guarantee profits or match all risk profiles. Past returns of copied traders do not guarantee future results.
Lack of personal learning and growth. By relying solely on copy trading, individuals might miss out on the opportunity to learn and understand the markets themselves, which can be valuable in the long run.
The main risk is that copied trades are executed without your discretion. You must be comfortable with the traders you choose to copy and align their risk metrics with your own tolerance.
Pocket Option is a well-established trading platform regulated by the International Financial Markets Relations Regulation Centre (IFMRRC). Having been in operation for over six years, Pocket Option has seen substantial user growth and has nearly 2,000 five-star reviews on the independent review platform Trustpilot. This assures the platform's safety and reliability. However, as with any trading activity, users should always consider their investment choices and risks.
Summary
Pocket Option's copy trading feature presents a low-effort avenue for taking advantage of successful traders. It allows you to gain exposure to opportunities you may not find yourself while eliminating the stresses of constant monitoring. However, it's crucial not to overlook the inherent risks of allowing others to steer your funds without oversight. While copying reputable traders can boost your returns, one bad decision by them also impacts you directly. The key is choosing partners prudently based on verifiable performance history. Copy trading may suit some as a supplementary approach, but maintain awareness over your portfolio allocations. With care taken in trader selection and risk management, this tool holds potential for amplifying profits - just be sure your expectations match the unavoidable realities of trading. Always remember: the responsibility for results remains with you alone.
Team that worked on the article
Upendra Goswami
Contributor
Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.
Dr. BJ Johnson
Developmental English Editor
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.