FAQs
Can I copy trades or trade as a team? Do you allow team trading? No, each user is expected to have their own strategy. We do not allow teams to make the same trades or copy trades on our simulated platform.
Can you copy other peoples trades? ›
Copy trading allows participants to replicate the trades placed by other, often more experienced traders in real time. The idea is to find a trader with a proven track record and begin copying their trades.
Is copying trades legal? ›
In the United States, copy trading is generally considered to be legal as long as it is done through a regulated broker or trading platform. The main regulatory agency for the financial industry in the United States is the Securities and Exchange Commission (SEC), which has jurisdiction over securities trading.
Does E8 funding allow copy trading? ›
▪️ You cannot copy trades (or use the same trading ideas) between multiple E8 evaluation accounts. Each evaluation must be done independently.
Is copy trading regulated? ›
Types of assets
All the copy trading apps and platforms I've reviewed below are regulated by the UK's financial watchdog, the Financial Conduct Authority (FCA) or similar.
What are the requirements for copy trading? ›
No additional documents are required to open a Copy Trading account. However, during your initial sign-up for a Live Account, you will need to submit a photo of your government-issued Identity Card and Proof of Address.
Can copy trading make you a millionaire? ›
Yes, copy trading can be profitable for investors who carefully select skilled traders to follow and manage their risk effectively. However, success in copy trading depends on various factors, including the performance of the chosen traders, market conditions, and risk management strategies employed by the investor.
What is the downside of copy trading? ›
One of the downsides of copy trading is the necessity to pay contingency fees, which can sometimes eat into your profits. Knowing all the potential charges and calculating the net returns after accounting for these fees is essential. This will help in setting realistic profit expectations.
What happens when you copy a trader? ›
The copy investment will mirror the Copied Trader's current positions and future actions including changes in SL's and TP and closing of the trade, from the moment you begin copying them. If the copied trader extends their SL by adding more funds to a position, your SL will adjust accordingly.
Do prop firms allow copy trading? ›
Copy traders must read the terms and conditions carefully, as the best prop firms only allow copy trading between internal accounts owned by the trader, but do not allow external copy trading, which is not a suitable prop trading strategy.
No, each user is expected to have their own strategy. We do not allow teams to make the same trades or copy trades on our simulated platform. Each user is eligible to develop their own trade strategy with a starting balance of up to $400,000 in hypothetical funds.
What is the best copy trading platform? ›
The best copy trading platform (by far) is eToro. There's a huge number of expert investors to copy, and there's a whole community of like-minded investors. It's also easy to use, and has a wide range of investment options. Plus, it's low cost.
Does the funded trader allow trade copiers? ›
The Funded Trader (TFT) allows the use of trade copiers. However, it's crucial to have a clear understanding of the guidelines and restrictions surrounding it. Let's explore the concept of copy trading and how to use it wisely with The Funded Trader.
Is copy trading passive income? ›
You Earn Passive Income
In a way, to copy trade forex is to ride the wave that the experienced investor is creating and profit from it. Of course, investing in this way is not entirely risk-free. That is what makes the other benefit category, learning, more significant if you're a beginner trader.
How do I become a copy trader? ›
Begin by logging into your Binance account and heading to the [Futures] section, then select [Copy Trading].
- Click on the option that says [Become a Lead Trader].
- Your portfolio is now created. Click on [Trade] to access the trading interface.
- You can check your copy traders' portfolio details and performance here.
How do I set up copy trading? ›
Using CopyTrader is simple: Choose the Popular Investor whom you wish to copy, set the amount to allocate for copying this trader, and click COPY. Going forward, you'll be mirroring their positions automatically in real time and in proportion to the amount invested. You can start or stop copying a user at any time.
Is it okay to copy trade? ›
Copy trading can expose beginners to systemic risks in financial markets like interest rate changes, inflation, and recession. These risks mean that even the most successful traders can experience losses during market downturns or financial crises.
Can you copy trade day traders? ›
Copy trading can be done on most markets, including the stock market, forex market and crypto market. The copying trader chooses how much risk he wants to expose himself to by selecting which traders to copy. It is always best to diversify and copy more than one trader to lower risk.
Is it legal to trade for other people? ›
You can't trade stock for someone else. That's illegal unless you're an investment professional. There are a lot of legal requirements to manage other people's money. Stocks and investments fall under this rule.