RoboOption traders are gaining access to one of the largest social networks for binary options signals. Trading robots focused broker, RoboForex, today informed the clients of its binary options brand that from now on they can receive trading signals and copy transactions of other traders via a ZuluTrade service.
ZuluTrade’s binary options offering was launched six months ago. Just with its popular forex copy trading service, ZuluTrade enables users to identify and follow the trading method of successful binary options traders based on their ZuluRank. With this service, signal providers can share their strategies with the community in an effective way, as the technology incorporates the possibility to develop automated binary options trading strategies through the company’s proprietary tool ZuluScripts.
In addition, traders are able to manage their risk more efficiently and with a systematic approach through the company’s capital protection tool named ZuluGuard. The tool provides traders with the ability to set limits on how much they can lose from a single signal provider, a single trade or limit the maximum amount of trades simultaneously open.
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Speaking with Finance Magnates, a RoboForex representative explained the choice in ZuluTrade binary options: “We believe that the model of copying transactions from trader accounts to investor’s account is quite promising, as is expanding the range of potential investors and increase the turnover of the company, and it is as transparent as possible for both trader and investor.
It is reasonable to assume that if copy trading runs on forex transactions – this will also work in binary options, as the principle, copy remains the same. Thus, we expect an increase in the number of investors and turnover in binary options similar to how we got with our project copyfx.com for forex.”
This ZuluTrade service can potentially also serve as an additional revenue stream for RoboOption clients. As part of the broker’s affiliate program, any verified client can receive commissions according to the level of their affiliate program. The level of their affiliate program depends on the number of attracted clients and their total trading volume. Copy trading is a convenient way to generate volumes and ZuluTrade is one of the best places to attract followers.
Earlier this year, HotForex, a broker regulated by CySEC under the name HF Markets (Europe) Ltd., became one of the first brokers to start supporting the ZuluTrade binary options social trading solution.