CommuniTraders is Right For Binary Options – The Right Tool For The Right Job
Social trading and copy trading are growing in popularity. Web based platforms like eToro, Zulutrade and others provide the best there is in forex copy trading. These sites are starting to attract binary traders but be warned, they may not be the best choice. Find out why Communitraders is best for binary options.
Introduction To Social Trading
Social trading, you may have heard of it. If not here on BOTS then somewhere on the internet. It is a growing form of trading gaining popularity in with the FX crowd. Trading platforms like Etoro, Zulutrade and FXCM are leading the charge in the social forex arena. Social trading is a broad term covering a range of new trends that include social forums, publicly visible trading accounts and copy trading. In it’s simplest form social trading means forums, blogs and chat rooms where traders of all levels can gather and discuss trading. It is a way for experienced traders to share knowledge and for inexperienced traders to gain knowledge. The support and backing of a social trading forum is a great way for beginners to enter the markets. In its most advanced form social trading means copy trading. Copy trading platforms allow traders to follow and copy the trades of other traders directly in their accounts. Copy trading accounts can be set up for demo or live trading so that you capture the profits and losses of your favorite traders.
Etoro Is The Leader In Forex Social Trading
Etoro is, in our opinion, the leader in social trading. The platform includes all kinds of social trading applications from forums to copy trading. The platform is by far the best and most easy to use in the industry and provides a wealth of resources for FX traders. One reason the platform is so good is because the technology they use is among the most advanced available. The site hosts educational resources for forex traders, forums and chat rooms, profiles of every member, records of trade data and fully integrated copy trading. In addition, Etoro is fully licensed and regulated as an international retail forex dealer.
ZuluTrader Follows A Close Second
Zulutrader is another one of the top social forex trading platforms. It is a good platform but the overall design is less appealing than Etoro. One bonus of Zulutrade over other social platforms is the huge database of traders, perhaps the largest in the industry. According to the trade ticker on the Zulutrade home page there have been over 6 billion trades logged on the platform, pretty impressive. Traders can create profiles and become traders on the site. Performance is posted on the leader board where you can choose to follow or post your own strategy and be followed. Zulutrader is also fully licensed as an international retail forex broker.
CommuniTraders Is Leads Binary Social Trading
Now we come to the point of this article, Communitraders. Communitraders, known as CT by us users, is the binary options answer to forex social trading. Yes, CT is still in development. It is the younger, uglier brother of Etoro and Zulutrader but one with a lot of potential. Communitraders is the combination of all the positives we could find in social media and social trading but focused directly at binary options traders. On the site you will find a full forum with rooms and threads devoted to binary options trading and strategy. You will also find the best binary options demo trading available, a valuable resource in itself. You will also find that these two features combine together so that forums posts can include trades and trades can become forum posts. As CT grows expect to find everything for social binary options trading you would expect to find at a forex social trading platform, just directed at binary options.
The Melting Point
Social trading is one answer to difficult world of forex trading. Another is binary options. Now there is a fusion of the two choices that is called Communitraders. Communitraders harnesses the advantages found in social forex and attaches them to binary options. Yes, Etoro and Zulutrader are great social forex trading platforms but they are forex platforms. You can learn about trading techniques, discuss analysis and even get trading ideas but what you cannot do is trade binary to its full potential. In order to do that you need a platform like CT, one that is designed and built for binary options, not one designed and built for forex traders. The reason why CommuniTraders is leading the binary industry is because it is the best source for binary traders. It is the best source because it provides a means for binary traders of all levels to come together, connect and share their experiences. CT is the right approach for binary options because it is community based. You don’t have to take the word of the brokers, the media or the advertisements. You can learn about binary trading from people who are actually trading binary options.