Are you a newbie to the prop trading industry? Perhaps the intricate tactics are too much for you to handle. Copy trading will solve your problem. It assists you in concurrently learning strategies and turning a profit.
I'll list the 4 best prop firms that allow copy trading in this post. I'll go over the main features, what they provide, and why they're the best option for you. So, let’s dive deep!
What is Copy Trading in Prop Firms?
Copy trading in prop firms is a method that allows traders to replicate the trades of other traders in real time. It allows traders to replicate the trades automatically and manually. The method helps novice traders to learn more about trading.
Moreover, it promotes a supportive trading environment. However, some prop firms don’t allow copy trading between individual accounts. Sometimes copy trading can create a mess in the system.
Best Prop Firms That Allow Copy Trading
FXIFY is the best prop trading firm for both new and experienced traders. It gives access to its capital up to $4,000,000. FXIFY allows copy trading. In this way, it helps new traders to gain market exposure and even make a profit while learning. Also, the firm offers transparency, low entry barriers, and diverse asset options.
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Apex Trade Copier is a powerful prop trading firm. It allows traders to automatically replicate trades across multiple accounts. The firm uses NinjaTrader 8, Tradovate, and TradingView platforms. It optimizes the copy trading experience with ratio-based order sizing and desync protection. Moreover, the firm enables traders to scale their strategies and increase earnings efficiently.
Glow Node is a UK-based proprietary trading firm. It gives access to its capital up to $200,000. Traders can earn up to 90% profit splits. The firm allows traders to trade various instruments like forex, commodities, indices, and cryptocurrencies. Glow Node allows copy trading and helps to increase profits.
Fidelcrest is a proprietary trading firm that provides traders with access to the firm’s capital. Traders can use up to $1,000,000 and keep 90% of the profit splits. They offer two unique funding programs. One is the Micro Trader Evaluation and the other is the Pro Trader Evaluation. Their platform allows traders to trade various instruments like forex, commodities, indices, stocks, and cryptocurrencies.
FAQs
Yes, copy trading is allowed on FXIFY with their Social Copy Trader function. It lets traders copy the trades of top-performing FXIFY-sponsored traders automatically. This feature makes it easier for traders to share expertise and replicate successful strategies. It improves their trading experience and boosts profits in this way.
In prop trading, it is legal to use trade copiers. However, there are certain rules and limitations. It guarantees compliance with the trading firm's regulations. Traders have to follow the approved uses of trade copying. Rules violations may result in an account evaluation and possible fines.
Proprietary trader firms can identify copy trading using a variety of approaches. These involve keeping an eye on trading trends, following IP addresses, and examining the deals made. They also check for regular patterns reflecting recognized trade copiers or signal providers, changes in IP addresses connected with prominent trade copier services, and high-frequency trading signals that indicate automated copying.
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