Will various broker versions of binary options auto-trading systems be the next big industry trend? Our interest in this subject was piqued after opening an account with 99Binary to do our review on them. They had just launched a brand new binary auto-trading feature (at the end of January this year) and were getting a lot of attention for it so we wanted to see what it was all about for ourselves. For now it seems that there are very few brokers offering a social trading feature of any kind, but if it ends up being popular then you can be sure that it will be adopted by other top brokers in the industry.
Binary Options Auto Trading – The What, Why, and Where
Auto-Trading (also called binary options copy-trading, or sometimes social trading) has been popular in other trading niches — like forex for example — for quite some time now. And there are also quite a few binary option copy-trading “systems” offered by 3rd-party providers. These systems are mostly junk systems though that will decimate your account balance in record time in most cases. So either avoid them entirely or do your research well before choosing one. We would advise avoiding them entirely. What we are talking about in this article is not a “system” which provides signals and then places trades automatically based on those signals. It is social “copy-trading” provided as a service by the brokers themselves.
Broker provided, social auto-trading systems, on the other hand, simply allow anyone on the system to “copy” the trading of any other trader on the system. It gives you access to the recent trading histories of traders on the system, and usually even highlights the exceptional performers of the day so that can more easily copy the best traders. This feature is especially useful to the many people who are new to binary options trading, or financial markets trading in general. It allows you to not only profit off of the success of accomplished binary options traders, but also to learn from them by watching at the same time. This is also why we publish our trading journal entries. Learning by watching is one of the best methods there is.
Binary Options Auto-Trading Introduction Video
This helpful video by the folks over at tradesmarter gives a pretty good overview of the concept in general. While different brokers may each have a slightly different spin on its implementation, the core concept mostly remains the same. Another reason we included this video is that this is very similar to how it works at 99Binary as well (who we by far prefer over tradesmarter).
Recommended Brokers Offering Auto-Trading
While we believe that it is highly likely that the trend of brokers offering their own social binary options auto-trading systems will only accelerate going forward, for now you have very few good choices available to you. As far as we can tell there is only 4 or 5 brokers offering this new binary auto-trading feature, and only two of them that we could really recommend. Luckily the two brokers which we can recommend are both great brokers all-around, so you don’t have to sacrifice anything else by trading with either of them.
Each of these two brokers has somewhat different strengths and weaknesses, but both are reliable and have great selections of underlying assets and contract types to trade on. And while 99Binary is our top choice, it is largely a matter of personal preferences and aesthetic considerations which will decide between the two. Unfortunately, we haven’t yet gotten around to doing a full review of Empire Option this year.
Runner-Up Choice – www.empireoption.com
As always, if you have any personal experience using the auto-trading feature with either of these brokers, and you would be willing to share your experience with the community then we would love to hear from you! Please feel free to leave a comment below or contact us.