Social scam alarm: Copyop review

CopyopThis review is about the social trading platform for binary options called “Copyop”. It is a scam.

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.

Fake stats

best-tradersLook 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…

Fake numbers

traderBut this is not all. We have a second proof that Copyop is a scam. Look at the picture on the right. You can see the stats of a trader called Mustafaa. It shows that he is a Copyop trader since 2009.

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.

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5 thoughts on “Social scam alarm: Copyop review

  1. Hi John, great review, had already heard bad things about Copyop. The broker is Anyoption, a CySec regulated broker! One to avoid I think. While I’m here, do you know anything about Tradeo, it’s a forex trader copying broker, endorsed by a scam watch site? Thanks for your great work.

      1. Hi John, thank you, will have a look at the testimonial video. The company seem real enough, and are CySec regulated, as I mentioned. All the same, I won’t be taking any chances. Thanks again.

  2. I’ve been using Copyop for several months now. My experience is that it is misleading. I’ve noticed that new traders will appear every week with consistently high hit rates and appear in the “Hot” list. Looking at the trader information it seems that these “Hot” traders are placing large trades with consistent success (over 70% averages) and soon pick up a number of copiers keen to profit on their success. I added one such trader to my copy list last Friday. Anyway, this trader logs in this evening and starts placing multiple Forex trades (although his average was previously showing as 3 per day) – seven of these trades close out of the money. I have some experience with reading charts and after checking each charts to understand why the trader took their positions none of the technical indicators supported the positions taken by the trader. In my opinion, it seems that it’s possible, maybe even probable, that Copyop are creating trader accounts with “traders” that are initially very successful to attract copiers. People then copy these traders and suddenly their accounts are wiped (necessitating them placing more deposits) when this “successful” trader suddenly and inexplicably goes from a consistent over 70% success rate to below 40% in the space of a single 30 min trading session, taking multiple positions counter to all technical indicators . This is not the first time I’ve seen this. There was another “Hot” trader who I copied and without any logical reason this trader kept building up a short position adding to it with a total of 14 positions although the market was trending strongly upwards with no sign of reversal. It seemed to me and is my honest opinion was that this trader was tasked with draining copiers accounts. There are some good traders on there but I get the impression that Copyop use a number of methods to wipe out profit for users. Be very careful if copying other traders. It can be a recipe for disaster and you can quickly see you’re account emptied unless you monitor it constantly.

    1. Just to add to this some of the other ‘issues’ I’ve noticed.

      1. Default expiry times for trades randomly change. For example you open the trade screen in the app and expect the expiry to be 30 minutes but it will be set to an hour. I’m sure this leads to people placing trades that go out of the money if they place thr trade quickly, assuming a 30 min expiry.
      2. Random freezes in price chart during trading often requiring you to close and reopen the chart to refresh it. This is something that can cause a trader to thing the price is different to what it actually is. A major red flag IMO.
      3. Copied trades not expiring at correct times. I’ve seen copied trades show expiry in 30 minutes then after 30 minutes expiry moves forward to 1 hour then in one instance i had two trades expire 3 hours after original expiry, of course they expired out of the money although they were both in the money at previous close times.
      4. Non existent support. Support promise call backs, emails but never respond.
      5. Slippage – suspicious slippage of strike price particularly when range trading.
      6. Last position size amount randomly changes – The plaform seems to be designed so that it’s inconsistent when remembering your last position size. Sometimes it changes it to the last used size other times it doesn’t. I also notice it tends to ‘remember’ the last trade amount if it is of a higher value.
      7. Assets inexplicably closed and unavailable with a ‘try again later’ message although that asset is trading.

      If anyone else has had any other issues or problems with Any option/Copyop ID love to hear them as there’s no way for traders on the platform to directly talk to each other, which seems strange for a ‘social’ trading platform. Perhaps they don’t want traders talking as it will highlight irregularities.

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