In this article, we are going to go through which proprietary trading firms allow traders to use trade copiers for trading.
In this article, we are going to go through which proprietary trading firms allow traders to use trade copiers for trading.
In this article, we are going to go through which proprietary trading firms allow traders to use trade copiers for trading.
Note that despite the list, you should consider asking the desired prop trading firm about the use of trade copiers and not use them until you get approval! In addition, you should also consider that you shouldn’t be using trade copiers to copy trades from third-party signal providers because you are running the risk of breaching the maximum allocation rule of a particular proprietary trading firm since more traders can be using the same signal provider!
You can see which proprietary trading firms allow traders to use trade copiers as their trading strategy in the spreadsheet below:
Note that despite the list, you should consider asking the desired prop trading firm about the use of trade copiers and not use them until you get approval! In addition, you should also consider that you shouldn’t be using trade copiers to copy trades from third-party signal providers because you are running the risk of breaching the maximum allocation rule of a particular proprietary trading firm since more traders can be using the same signal provider!
You can check complete reviews of trade copiers and the proprietary trading firms listed above on our website.
This article was lastly updated on 11.01.2023 at 10:42 (CE(S)T).
Your list is misleading. I just read the terms & conditions of My Forex Funds and they clearly state the trade copiers are not allowed:
Rule #5
Expert Advisers & robot usage
We allow Expert adviser/robot trading on your accounts. We no longer require you to send us your source code unless there is suspicion of the following:
Tick scalping, Arbitrage, signals from a 3rd party, gap trading, account management services or any other services that break our other rules.
Using third party expert advisers is OK so long as it is not managed or traded by another party. All signals must be your own and based on your own set up.
Prop trading is about your ability to trade and not about using other peoples ability to trade.
Rule #6
Account types, details and house keeping
After program purchase you will receive your login details within 24-48 hours. You are not allowed to change the details of this account under any circumstances. Doing so will be a breach and your account will be suspended.
At My Forex Funds, we are looking for individual traders to grow with us long term. What this means is that we want YOU to be the trader. Its ok to learn your skills from other experts, however, use of signal bots, trade management services or trade copiers will not be accepted. If we notice someone using these services, we will suspend their account.
This rule may not apply if you have submitted your expert adviser or bot for prior approval and approval has been granted.
We are constantly monitoring all accounts to make sure the rules are being followed.
Hello Mike. Kindly note that trade copiers are allowed as long as you are copying trades from your own account and not from a 3rd party. The problem with copying from a 3rd party is that you can breach the maximum allocation capital rule, which results in account termination.
you are allowed to use trader copier for theproptrading. ‘Trade copier is allowed if you are copying from your own external account to one of our TPT Evaluation Program or Funded accounts.’
Thank you for your comment. You are correct, we have updated the prop fact.
Does anyone know a prop firm that does allow 3rd party copy trading
We advise you not to use third-party copy trading services while working with proprietary trading firms since they have a maximum allocation capital rule. This means that if more users are using the same third-party copy trading service, there is a high probability that your accounts will be closed due to a violation if the maximum allocation capital is breached.