Social platforms are becoming popular with binary options, unfortunately we haven’t seen anything real so far, only scams. Copyop is one of them.
The social trading platform enables you to copy other traders automatically, when they place a trade, it is mirrored on your account. Therefore your only task is to choose traders that you will copy.
To do that you have to study their trading statistics. On binary options it is easier than on Forex, because you mainly want a high success rate. Together with that you need a reasonable money management and you are done. But…
Copyop is a scam
As we have just explained, in social trading you have to select your traders according to their statistics. And this is the main problem of Copyop, the stats are fake.
Look at the picture on the right, there you can see the best Copyop traders for the last month. They are all in profit, but their hit rate does not correspond to these numbers. Because if you take an average return of 80 % on binary options, you need to win 56 % of your trades to break even and more to make profits.
But among the best traders you can for example see Dvalerri with a hit rate of only 42 %. This would mean a total loss, not a profit. The same applies to Mustafaa with a 54% hit rate. And Dachs should be at zero, not at +€9.9K. So Copyop statistics are obviously fake.
And even if they weren’t, just based on the hit rate there would be only 7 profitable traders in the entire Copyop portfolio…
But the problem is that Copyop was created in 2014. So all the data are obviously fake.
Copyop is a social trading scam, because it provides fake numbers and statistics. Therefore we have every reason to believe that you would only lose money with this system, that you even cannot try for free, they force you to deposit first.
If you want to try binary options trading, do it on a demo account. There you will see that the best way is to rely on yourself and build a profitable strategy to make real money.