Published on May 18th, 2017 | by John Kane0
Social Review: The Traders Junction
Summary: This service is a social trading website built to allow traders to copy and follow other successful traders.
Today I’m looking at a social copy trading network offering traders the opportunity to follow successful traders in real time, The Traders Junction. Traders are given the choice to either copy other traders manually or automatically utilizing the built-in auto trader. Systems like these are only as strong as the platform being utilized, and the community that has been gathered. If there are no good traders using this service, then there are no good traders worth copying.
The service was launched in June 2016, but there is no public office location. As for email support, traders are required to go to the contact page https://www.thetradersjunction.com/en/contact/, as no public email is available.
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The Traders Junction Review
So, not only is The Traders Junction a copy trading service, but it’s also a binary options brokerage because you do all of the trading with them. Their platform offers both demo and real money accounts, so traders can copy trades for a bit to see how it works.
All of this sounds really good, but there are some discrepancies that we have to analyze properly.
First of all, this is not a regulated binary options broker, and we have to remember that binary options brokers are frequently using different methods to entice us. In this case, that method is copying successful traders manually and automatically.
Then, we also have to consider the fact that none of the “best performing traders” as any reputation in the binary options market. Thus, we would be copying traders that do not have a proven track record and could bust at any time.
The numbers are where I take some issue with The Traders Junction, because they don’t all add up.
- 8,218 Members
- 2,984 Daily Trades
- 20,285 Copied Trades
- 19 New Members Today
- 329 Facebook Likes
As far as I’m concerned, these numbers are way too high. From the online presence of this service, I don’t see how they could have over 8000 members and the collecting new members every single day. This service seems like it’s much more under the radar and that’s quite apparent by their very few Facebook likes, and the fact that there is little to information about them from other binary options web-sites.
It’s very possible that this broker/trade copying service is inflating their numbers to seem more professional and secure.
This is not a positive.
The results section of The Traders Junction website is interesting in that it does show many different elements in the trader’s profile. We can see how many trades a trader has taken, their location, how many trades they’ve one, there in the money winning percentage, their success on different assets and much more. It would be great if there was a website or service that provided just this alone, so we could share our binary options trading statements and really see who is the best.
There are both positives and negatives with The Traders Junction copy trade service. I have some interest but there is also some reserved skepticism about the numbers being provided and their real lack of online presence in this market. I won’t be signing up today because of my concerns but I will be providing a 3 star review because I do see some potential with this product. I just need to know that this is a safe investment before I give it a chance.
Thank you for reading my review and please feel free to leave your thoughts and opinions below.
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