In my time reviewing online money making programs I have come across several binary option trading programs and most of them are complete scams. Most of them claim that you will make thousands and sometimes even millions of dollars by following their simple system. So far all of them have been scams.
Is Copyop another one of those scams, or is it a legitimate way to make money through trading binary options?
What is Copyop?
Copyop is a binary options social trading platform. The idea behind it is that you can search and find people who are good at trading binary options, then you can decide whether you want to copy their moves or not. If you decide to invest money and copy their moves, you lose if they lose, and you win if they win. It sounds simple enough, but is it worth the risk?
Are the risks too high?
Trading binary options is an extremely risky business. In order to be successful at it you have to constantly research, learn about the system and make risky investments in order to get any money back. If you are the type of person who is willing to put a bunch of your money out on the table, in hopes of earning money back, then it could possibly be for you.
Keep in mind that even though many of the people that you will be able to copy are professionals, they do still lose. These people are good at what they do, but there is no way to know exactly what will be a good investment. These professionals basically make educated guess about a good move will be. They even have a “risk disclosure” at the bottom of the website.
With that being said, I would not recommend throwing in money that you need in hopes of earning it back. This system is for people who are willing to put a lot of time and effort into examining the other traders, and constantly invest money in hopes of building wealth.
If you want to try this out, I suggest you be prepared to lose some money.
The Ups and Downs
- Makes trading binary options more accessible
- The platform is fairly easy to understand
- Relatively low minimum investment ($100)
- No promises to make millions
- Not as easy as it sounds
- Can be very risky
- Fee to withdraw money more than once a month
Is Copyop a Scam?
Unlike the majority of these binary option trading systems, Copyop is in fact not a scam, however it is not for everyone(even though they claim it is) and it is risky if you aren’t someone who can afford to lose money, or if you don’t have enough time to constantly watch trends.
Make Money Online Without Risk
Personally I avoid trading binary options because it is a bit too risky for me. That’s why I decided to become an affiliate marketer, mainly because there is little money to invest, and you can end up making incredible profits.
The place where I learned to make money online is call Wealthy Affiliate, and I highly suggest that you check them out. At the very least you can earn extra money to invest in trading binary options.
If you have any questions or concerns, please let me know in the comments below!