Binary options broker Pocket Option provides its clients with a wide range of trading opportunities and strives to make trading as convenient as possible. Social trading is precisely the tool that makes trading more effective — with it, traders can execute more profitable transactions.
What Is Social Trading at the Binary Options Broker Pocket Option?
Social trading gives you the opportunity to see and copy the trades of other, more experienced traders. All trades are visible directly on the chart, both in the web version of the platform and in the Pocket Option trading terminal for Windows.
The way social trading works is straightforward. One trader opens a trade on any asset, and another trader can see it and copy it entirely. This useful feature can be used to:
- Execute more profitable trades.
- Understand how more experienced traders operate.
- Make a decision when the market situation is ambiguous.
In addition to copying trades, social trading also lets you see:
- The total number of trades placed by a particular trader.
- Their percentage of winning transactions.
- Transaction volume in foreign currency and total turnover.
- The number of traders currently using social trading.
With this information at hand, you can decide which trader's transactions are worth following — doing so can increase your own win rate and overall earnings.
For beginners, social trading provides an opportunity to avoid losing their entire deposit by following more experienced traders. Meanwhile, traders whose trades are copied most frequently receive additional rewards.
Pros and Cons of Social Trading at the Binary Options Broker Pocket Option
At the binary options broker Pocket Option, social trading can significantly increase the number of winning trades for both beginners and more experienced traders. For beginners in particular, it is especially valuable in the early stages, as it also provides a chance to explore the platform's functionality in greater depth.
For experienced traders, copying trades can help in difficult situations where making an independent decision is challenging — another trader's position can serve as a useful signal.
As mentioned above, traders whose trades are copied most often can also grow their income through the social trading reward system.
One drawback is that continuously copying trades does not build a thorough understanding of the market. Relying solely on other traders' transactions will therefore prevent you from developing independent trading skills.
How to Use Social Trading at the Binary Options Broker Pocket Option
Pocket Option integrates social trading directly into the asset chart. To activate it, click the "Social trading" button in the right-side menu. There you can also view each trader's profit, their ranking over the past 24 hours, their transaction history, and how many traders are following them.
In the social trading section, you can start following a trader or copy their trades. You don't need to keep this window open to copy trades — all trades will appear directly on the chart, and clicking on any trade will copy it immediately. The chart will also display the trader's win rate and reward information.
Aggregate Trade Direction at the Binary Options Broker Pocket Option
The aggregate trade indicator is another tool available to Pocket Option clients that can help you identify potentially profitable trades. The activation button is located at the bottom of the chart, above the trading panel. This indicator displays the ratio of Call to Put trades for your selected asset.
This indicator is the most basic form of social trading and should not be relied on exclusively. It aggregates trades from all traders, including beginners, and works well as a supplementary tool — but should not be treated as more than that.
Conclusion
Social trading is a versatile tool that offers valuable opportunities for both beginners and experienced traders. When used correctly, it can help increase your income. However, to develop independent trading skills, it is best to treat this feature as a supplement rather than a substitute. Keep in mind that alongside social trading, Pocket Option also offers Pocket Option signals, which can further support your trading on the platform. Used in combination, these tools will deliver the greatest benefit.
Open an Account with PocketOption
See Also:
- Free Robot for Pocket Option
- How to Trade from Mobile Devices on the Pocket Option Platform
- How to Trade Express Orders with the Pocket Option Broker
- How to Participate in Tournaments on the Pocket Option Platform
- How to Withdraw Money from the Pocket Option Broker
- Minimum Deposit and Bonuses at the Pocket Option Broker
- Bonuses for Pocket Option Broker
- Working Promotional Codes for Pocket Option
- How to Use Signals on Pocket Option
- Pocket Option Broker Affiliate Program
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