Social platforms are turning out to be popular in the field of binary options trading. The problem is that we are finding out that most of these are scams. It is sad to report that CopyOP is one of the aforementioned scams, because we have yet to review a social trading platform which actually delivers what it promises.
CopyOP allows the client to automatically copy other traders. The moment they input a trade, it is duplicated in their account. The only thing the investor has to do is select the traders that he or she will copy from. To do that effectively, the client has to analyze the trading statistics of the traders. One of the advantages of trading via binary options over Forex is that investors only have to be concerned about getting a high win rate and having their funds managed well.
How is CopyOP a scam?
The keyword here is fraud. CopyOP will provide information about the traders for the clients, but these statistics are false. While the stats indicate that the traders are in profit, a thorough analysis indicates that the provided hit rates do not match with the rest of the numbers. To explain further, achieving an average 80% return via binary options requires the trader to win 56% of his or her trades to profit and break even. The statistics provided in CopyOP’s trading platform seem to be numbers drawn out at random.
The bottom line is that CopyOP is a social trading scam since it offers clients nothing more than fake statistics and trader names. While the deception is not as complicated as other scams, the objective of robbing clients of their investments is the same. There are providers that have better reputation and will do as they advertise, so investors are strongly recommended to sign up with them.