Because most traders see copy trading as a means to trade in the financial markets while they still have little knowledge and expertise in these sectors, it has become quite popular in recent years. Copy trading has made it possible for new traders to participate in online trading without investing the time necessary to build a successful trading career.
However, despite what is commonly believed, copy trading is not only advantageous for novice traders. Even seasoned traders will imitate other traders to increase their profitability and pick up new trading tactics and systems. No matter how skilled or seasoned you are as a trader, there will always be someone better and something new to discover.
You may take advantage of top-tier signal providers that are among the best in the business if you are trying to pass a prop firm challenge provided that it is allowed under their rules. This means you can qualify for a funded account without actually needing to do any trading yourself!
However, there are not many prop firms who allow copy trading, but we have listed some of the options here. Just make sure that you double check they allow copy trading from other traders or signal providers if that is how you plan on trading. Reason being, some prop firms allow copy trading only between accounts that you are trading on yourself.
FTMO are one of the best prop trading firms with excellent trading conditions and very achievable profit targets. As long as your trading is legitimate, conforms to the real market conditions and they can replicate your trades on live corporate accounts, there is no limitation to your trading style or strategy. FTMO don’t even impose any limits on instruments or position sizes you trade.
|Step 1. FTMO Challenge||Step 2. Verification||Step 3. FTMO Trader|
|Trading Period||30 days + 14 days||60 days||indefinite|
|Minimum Trading Days||10 days||10 days||x|
|Maximum Daily Loss||$500||$500||$500|
You can pass the evaluation phase using copy trading strategies on the MT4, MT5 and cTrader platforms. You can trade Forex, Commodities, Indices, Crypto, Stocks and bonds. Leverage is capped at 1:100 and the evaluation fee will be refunded if you pass. This will give you access to a funded account with up to $2,000,000 in capital and a healthy 90% profit share.
- One-time fee only (no recurrent charges or other fees)
- No limits or restrictions on your trading style
- Choice of platforms (MT4, MT5, cTrader)
- Access to some handy trading apps designed to help you with risk management and profit maximization
- Trade Forex, Commodities, Indices, Crypto, Stocks, Bonds
- No limits on the volume traded (lot size)
- Leverage up to 1:100
- FTMO’s scaling plan allows their most skilled traders access to up to $2 million of trading capital
- A thorough account analysis for every account
- The fee will be reimbursed to you with the first Profit Split
- Customer Support in 17 languages
- The most trusted and reputable Prop Trading Firm in the industry
- So many traders have used FTMO over the years that there is an incredible amount of trader-generated resources available, including lots of great advice on how to pass the FTMO Challenge
- Strict requirements for the test period
- Steep 10% profit target for the first step of the FTMO evaluation, however, it eventually drops to 5% for the second verification stage
- FTMO keeps all traders on demo accounts, even those that have passed the FTMO Challenge and become fully funded
- In order to receive a funded account, traders must first pass the FTMO Challenge, followed by a verification stage
Forex Traders UK (FTUK) is a prop trading firm where you are allowed to copy trades from a non-FTUK account to an FTUK account, but copying trades to more than one FTUK account is not permitted. It is against the rules to execute the identical deals on different accounts. To spread their risks, traders should trade them in a variety of ways.
|Program Level||Funding Balance||Milestone Target||Maximum Loss||Leverage||Profit Split||Max Stoploss|
You can take part in one of the FTUK funding programmes and get access to very favourable proprietary trading conditions. EAs, news trading, overnight holding and weekend trading are all allowed in addition to copy trading. You can trade with 1:100 leverage on the MetaTrader 4/5 platforms with the reregulated broker Eightcap. FTUK funded accounts can scale up to $5,760,000 although the profit share is capped at 80%.
- No minimum trading days
- Rapid scaling plan
- Instant funding account
- Allow most trading strategies
- EAs, news trading, overnight holding and weekend trading allowed
- Both MetaTrader 4/5 platforms
- Partner with a reputable broker in Eightcap
- Leverage goes up to 1:100
- Allow up to 3 accounts
- Withdraw profits anytime
- Refundable fee
- Maximum 80% profit share
- High 25% profit target
- 1.5% Max stop loss risk limit on low-risk account types
- Lot size consistency rule
- No free trial
Blue Guardian Capital impose no restrictions in your trading strategies, with expert advisors, news trading and weekend trading all allowed. You may copy trades from your external account to one of the funded or evaluated accounts. The same trades cannot be executed manually or using a copier on two or more accounts. Account access will be lost as a result of this breach. Trading on each account separately is required.
There is a one-time evaluation fee that is refunded if and when you pass the trading challenge. The profit targets are achievable and trading rules simple to follow. You can get a funded trading account up to $600,000 that can be scaled to $1,800,000 with a generous 95% profit split.
- One time evaluation fee, refundable after passing
- Receive up to 85% of the profit you make
- Bi-Weekly Payouts
- Maximum balance of standard account up to $600,000
- Scaling plan with balance up to $1,800,000
- Low evaluation profit targets of 6% for each phase or 12% overall
- Leverage up to 1:100
- Unlimited evaluation free retries
- No Restrictions on EA’s, news, weekend holding
- A good variety of trading instruments (forex pairs, commodities, indices, cryptocurrencies)
- Very handy trader dashboard
- Tight spreads, quick execution and competitive commission fees
- No MetaTrader 5
- No free trials
- 5 minimum trading days
- Phase 1 duration is max 30 calendar days
- 4% maximum daily loss
Copy trading is allowed with N P Financials as are expert advisors, news trading and holding positions overnight. Another advantage of this prop firm is that they have no minimum or maximum trading days. This means you can get a funded account which can be scaled up to $2,000,000 as quick as possible or take your time.
On the downside, the profit share is slightly below the industry average at 70%, but you get an excellent range of prop trading products and services with no monthly subscription or hidden fees. This includes a vast range of financial instruments on the popular MT4, MT5 and TradingView platforms via regulated trading broker GO Markets.
- Excellent educational content
- MT4, MT5 and TradingView platforms
- Partner with a top broker in GO Markets
- Great choice of trading instruments across multiple asset classes
- Tight spreads from 0.0 pips and quick trade execution speeds
- News trading, copy trading, holding overnight and automated trading allowed
- No minimum or maximum trading days
- Prompt customer support
- No monthly subscription or hidden fees
- Funded accounts up to $1,000,000
- Regulated prop firm
- 70% profit share below industry average (80-90%)
- Must trade once per 30 days
- Need to place a stop loss on all trades
- Weekend holding not allowed
- Maximum 1:10 leverage
- No free trials
OspreyFX does not provide any copying services however, you are free to utilize any 3rd party trade copiers on their MT4/MT5 platform using your prop trading account. As they are a traditional trading broker, you are allowed to use most strategies, including EAs and news trading. They have tight spread from just 0.1 pips on a great selection of forex currency pairs with leverage up to 1:100.
If you pass the OspreyFX prop challenge which has achievable targets, you can get your initial fee refunded and they are one of the only prop firms that provide a $1,000 bonus along with a funded account. The profit share of 70% is not the highest and they don’t provide instant funded accounts for those of you who already have a successful trading strategy.
- Profit share of 70%
- Funded account up to $200,000
- Both MetaTrader 4/5 platforms
- Trade forex, stocks, indices, commodities and cryptocurrency
- Majority of trading strategies are allowed
- Overnight and weekend holding allowed
- Expert advisors (EAs) and news trading allowed
- Tight spreads from 0.1 pips and competitive commission charges
- Leverage of up to 1:100
- Prop trading firm and brokerage firm all in one
- Weekly payouts once funded
- Achievable targets of 10% for Demo Stage in 30 days and 8% for Verification in 60 days
- Refundable fee and $1,000 bonus with a funded account
- Handy trader dashboard to track performance
- 10 minimum trading days
- Consistency rule
- 2-step evaluation process
- No instant funded accounts
Trading successfully can be a difficult task. New traders need the right education, skills, techniques, and trading experience to succeed in this competitive industry. Fortunately for these traders, there are copy trading services provided by brokers and third-party providers that have made it possible for traders to begin trading the financial markets and gaining knowledge of efficient trading techniques, all while completing their education.
Simply said, copy trading involves investors following other, ideally successful, traders’ moves on a platform, allowing them unparalleled access to diversify their trading portfolios and observe live trading in action. With so many advantages, it’s crucial to realise that while copy trading allows you to duplicate the success of elite traders, you also share in their losses.
Trade positions are transferred from one trading account to another in copy trading, a type of automated trading. The process of copy trading is very simple for traders: after adding your investment amount and choosing a trader to follow, the copy trading platform will replicate all of the positions of the chosen trader immediately into your trading account. Some trading platforms include copy trading functionality, whilst they can be automated, semi-automated, or manual.
Automated Copy Trading
You choose strategies (traders) for automated copy trading based on your desired trading preferences and risk tolerance. After that, your trading account will automatically reflect all positions taken by the chosen trader. You can copy deals in this method without any human involvement at all.
Semi-automated Copy Trading
You can examine all the positions taken by the chosen trader you intend to duplicate in real-time when copy trading in semi-automated mode. The positions you want to duplicate in your trading account are then selected. You can track and later close your chosen deals at any time after they have been replicated. To close them automatically when your signal source finishes its transactions, you can also leave them running.
Manual Copy Trading
With the exception that traders now have access to the in-depth knowledge and proven tactics of seasoned traders, this is a little more like conventional trading. You get to learn from their extensive trading knowledge and gain some genuine insight into the reasons that influence their decision to enter or quit transactions. Then, you “manually” select who to follow, which trades to mimic, and their trading tactics. This may be considered social trading in a way.
One of the most popular ways to copy trades is by using a copy trading platform. These give you access to a large variety of traders whose strategies you can copy onto your own trading account. Some of the leading copy trading platforms include:
The AvaTrade mobile app that allows you to follow and copy the trades of a wide selection of traders. You can create groups to share ideas with other like-minded traders or message your mentor or peers directly.
Users can purchase and sell a variety of assets on eToro, including equities, exchange-traded funds (ETFs), forex currency pairs and cryptos. Users of eToro can learn from one another through a news feed and other social elements in addition to the built-in educational tools that are available on other investment platforms.
You can replicate the trades of other traders in real time, automatically with eToro copy trader. Simply choose an investor to copy, and when they trade, so do you. CopyTrader is built to be simple and intuitive. Thousands of investors, each with a unique strategy, risk level and transparent track record, are available for you to copy. Choose just one, or build a team of up to 100 traders to “work” for you simultaneously.
DupliTrade works with MetaTrader and enables you to automate trades based on the behaviour of seasoned traders. Due to its auditing and monitoring of all traders on its site to ensure a high-quality product, DupliTrade has one major advantage over its rivals. They only accept the top technique suppliers with extensive market knowledge and a track record of making profitable trades using actual money. It is an easy-to-use platform, making it appropriate for beginners.
With ZuluTrade you can trade forex, commodities, indices, stock and crypto. Trade manually or through copy trading. ZuluTrade is the oldest and most recognizable social wealth management platform. Essentially, it allows investors to follow and mimic the trades of experienced traders in the financial markets. However, the social element also enables traders and investors to leave feedback and share ideas.
If you don’t want to go through the process of joining a copy trading platform, you could always use an expert advisor (EA) to copy trades. An EA is an automated trading software that runs in either the MetaTrader 4 or MetaTrader 5 platforms. It can copy trades between multiple MetaTrader accounts. You can take a look at our best prop firm EA’s if you need some inspiration.
This is a good solution if there is a trader whose strategy you want copy or if you are using a signals provider that supports copy trading with expert advisors. Just make sure that you check the prop firm allows expert advisors along with copy trading. Remember, there is never any guarantee that any copy trading product or service is going to generate profits.
Although it can be useful in analysing and choosing a good trader to copy, expertise is not necessary if your main goal is to follow and mimic other traders. In actuality, novice traders are frequently those that like copy trading. That may be a good method to start building your account, and if you take the time to study the trades made by the traders you follow, it may also be a highly effective approach to learn how to trade. You could always attempt copy trading with a demo account first before taking part in a prop firm trading challenge or using a funded account to see how things go.
You aren’t necessarily incurring any more danger than when trading on your own account if you take the time to find successful traders to mimic. To put it another way, trading is by its very nature dangerous, and you can always lose money. But keep in mind that a trader’s past performance is no guarantee of future success; even if they’ve had three years of lucrative trading, they can experience their first loss week as soon as you start following them. Never invest more money than you can afford to lose, as always.
- Trade the financial markets without needing any skills or experience
- Learn from the trading strategies of others
- Choose from thousands of experienced traders and investors
- Have more time to do the things that you love doing
- Diversify risk through different copy trading signals
- Get more freedem over your trading activity
- Not many prop trading firms allow copy trading
- No control over the trading strategy and money management being used
- Choosing a reliable trader to copy is not an easy task and they might not always be around
- Copy trading does not consider your personal investment goals or financial circumstances
Copy trading can be a great way to pass a prop firm challenge for those of you who do not have the time or skills required to trade manually. Successful trading can take many years of practice and significant investment. Combing copy trading with a funded account from a prop firm can be a fast track way to achieving both.
However, nothing beats learning how to trade manually by yourself. That way you can become a better trader in the long run by learning from your own mistakes and do not need to depend on anyone else. It could be frustrating if you found a consistent trader to copy only for them to disappear along with their trading signals. Many prop firms don’t allow copy trading because they are looking for consistent and talented traders who know how to trade by themselves.
It is also important to keep in mind that you should think about asking your preferred prop trading firm for permission before using trade copiers. You should also take into account the fact that employing trade copiers to duplicate trades from outside signal sources puts you at danger of breaking a proprietary trading firm’s maximum allocation restriction because multiple traders may be utilising the same signal provider.