BinaryOnline has recently announced a new TradeReplica feature that is available for all registered binary options traders. This binary broker promises this feature acts as a tool which provides more independence for front end users and enables opportunity for higher profits.
Let’s see what is TradeReplica is about and how can traders start using it.
What is BinaryOnline TradeReplica Tool?
Before we begin, first we have to describe what TradeReplica can offer for its traders. TradeReplica is a brand new tool developed by financial experts at BinaryOnline. This tool enables traders to replicate the trades of most successful traders on the financial market and place them on their own dashboard.
Every trader that has registered and funded their BinaryOnline account has the opportunity to use TradeReplica tool. Basically, this tool allows traders to copy the trade of best BinaryOnline traders and helps them to create a different strategy that might increase their profits.
TradeReplica is not based on trading algorithms, but on real traders that have their own ways to build the successful strategy. This tool sorts the best traders and allows all traders to find better solutions if they don’t have their own. Many times it happens that you don’t know which asset to choose or you just don’t have time to study about the financial news so TradeReplica tool might be the best solution.
How to Use TradeReplica Feature?
As we have already mentioned, in order to use TradeReplica, traders first have to be registered with BinaryOnline. The minimum deposit to start trading with this broker is $250, which is considered to be the market industry average. Besides the average deposit, the minimum investment is just $5, which will cheer up those traders who don’t plan to invest high amounts of money at first. According to the BinaryOnline, traders can make up to 81% of returns per each trade.
TradeReplica feature can be found on the trading interface on the top menu of the BinaryOnline platform. Since this feature is brand new, TradeReplica tool is marked with red icon “New”. This tool has the ability to display the best trading stats and performances in BinaryOnline network. The tool includes the list of traders which have managed to achieve high success rates. The higher the success rate, the better the performance of the trader will be.
Traders who have no time to analyze the markets and keep up with financial news have the opportunity to use the shortcut. TradeReplica allows traders to choose the top performing traders according to several parameters:
- Period – from 1 day and up to 1 year
- Investment amount – from $50 to $3,000
- Investment limit – no limits option
Traders that choose to trade with TradeReplica can choose to follow the preferred trader. Those traders will be listed on Followed Traders list for easier organization of trading portfolio.
TradeReplica allows traders to research top traders according to the underlying asset classes they are trading with. The asset classes include various currencies, commodities, indices or stocks. When the asset is chosen, the list will sort top performing traders according to their success rate.
Trading with TradeReplica
This tool is excellent for those traders that decide to focus and base their trading portfolio according to specific markets. TradeReplica allows traders to use the pulldown menu and choose exact market they want to invest with.
The statistic analysis is provided with every trader which includes various factors. Besides the success rate, TradeReplica ranks its top performance traders according to total earnings amount, the number of traders who follow them and according to opened positions.
TradeReplica and BinaryOnline Helps Traders Monitor their Trades
The part in which a trader monitors his trades is one of the most important tasks in binary options trading. No matter if you are trading on your own, copying trades or using a binary options robot, the trading analysis is very important.
TradeReplica tool has its own tracking and it allows traders to check all trades that are copied by the top traders. This option gives traders to retain to monitor and follow their performance with each trader they follow. This also includes the opportunity to monitor executed trades and control the risk of copied trades. If trading with certain traders doesn’t fit your preferences, just click on Unfollow button to remove selected trader.
What are TradeReplica’s Benefits?
First of all, the most important fact of TradeReplica tool is that it is free. After reading this guide, traders have probably got a good idea about what this tool can capable of. Another advantage is that traders don’t need to install any additional programs to their computer or a device because this tool is attached on BinaryOnline web-based platform.
It is obvious that creation of TradeReplica tool made some benefits for traders who don’t have time for making an analysis on financial markets and placing the trades on their own strategy. We can all confirm there are hundreds of binary robots on the internet that offer similar binary trading services. If you are not into trading with binary options robots or signal providers, the combination tool of BinaryOnline and TradeReplica might be a good choice for you.
Among various benefits we have found with this tool, TradeReplica has confirmed that trading binary options are possible even for those who lack trading experience and knowledge in binary options. Traders just need to focus on finding the trader with best success rates and assets that fit his needs. This means that traders won’t spend hours on calculations and research, but just a several moments for finding the best trader and copy his trades.
We can say that TradeReplica is a social trading tool that has lately become a trend in the binary options industry.
If you want to find more information about BinaryOnline, read our BinaryOnline broker review and find more about banking details, trading accounts, regulation and other important facts.