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Top-Rated Copy Trading Prop Firms

By Christopher Lewis
Reviewer Adam Lemon
Fact-checker DailyForex.com Team
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The DailyForex.com team is comprised of analysts and researchers from around the world who watch the market throughout the day to provide you with unique perspectives and helpful analysis that can help improve your Forex trading.

Prop trading firms continue to pop up, promising skilled retail traders the ability to boost their trading income. Copy trading has been one of the fastest-growing sub-categories of trading, and this article will dive into prop firms that allow copy trading to avoid the confusion between copy trading and copy trading at prop firms, which can differ structurally. Understanding how copy trading works in prop trading can help prop traders magnify their income sources. Read on to find out how you can leverage copy trading at prop firms.

Prop Firms that Allow Copy Trading

Trading with prop firms that allow copy trading allows prop traders to use their strategy across different prop trading firms to boost their assets under management and, therefore, their revenue streams. It also allows traders to diversify across prop firms.

For example, if a prop firm offers $200,000 in maximum funds per trader, prop traders can use copy trading software to apply at five prop firms to have their strategy manage $1,000,000.

Here is how prop firms that allow copy trading differ from the top copy trading platforms:

1
4.9/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Up to $200,000 per trader & 90% profit share
€155 minimum evaluation fee (refundable to accepted prop traders)
2
4.8/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Up to $2,000,000 per trader & 90% profit share on MT4/MT5
$105.95 minimum evaluation fee (refundable to accepted prop traders)
3
4.6/5
The ratings shown on DailyForex.com are determined by hours of research from our editorial team into over 10 factors, including account fees, deposit/withdrawal options, regulatory status, tradable assets, and more.
Up to $400,000 per trader & 100% profit share
$33 minimum evaluation fee & fully customizable challenges

  • FTMO, The best prop trading firm with a genuine path for salaried prop traders.
  • Fidelcrest, The highest maximum drawdown among retail prop firms of up to 20%.
  • E8 Funding, The retail prop firm with the most customization options for funded accounts.

FTMO

In Summary The best prop trading firm with a genuine path for salaried prop traders

FTMO is a prop firm headquartered in the Czech Republic with a two-step verification process, and traders can use MT4, MT5, and cTrader without strategy restrictions. Unlike most prop firms, FTMO added a feature allowing qualifying traders to become professional traders with a fixed salary via Quantlane, making FTMO one of the best prop firms allowing copy trading.

Traders get a maximum Forex leverage of 1:100, a daily loss limit of 5%, and a maximum drawdown limit of 10%. The profit target is 10% and 5% during the two-step verification process, with a minimum of four trading days.

Read more on FTMO »
4.9/5 in this category

Pros & Cons

  • Reasonable profit targets and generous maximum loss levels
  • 80% to 90% profit share with a fast withdrawal process
  • Customizable two-step evaluation period with free retrials where applicable
  • MT4, MT5, and cTrader accounts with generous leverage
  • No information about which broker or brokers FTMO uses

Fidelcrest

In Summary The highest maximum drawdown among retail prop firms of up to 20%

Traders at TopTier Trader can manage portfolios with a maximum leverage of 1:100, a daily loss limit of 5%, and a maximum drawdown limit of 10%. It makes TopTier Trader one of the best prop firms allowing copy trading. During the two-step evaluation process, traders must trade for at least four days. The profit target is 10% during the first step and 5% during the second step.

Traders can choose from seven accounts that can scale to $2,000,000. TopTier Trader offers unlimited retrials if traders fail to reach the profit target and have not violated the trading rules.

Read more on Fidelcrest »
4.8/5 in this category

Pros & Cons

  • Generous maximum loss levels of up to 20%
  • Competitive leverage and 175+ assets covering five sectors
  • Up to 90% profit share and up to $2,000,000 in funded accounts per trader
  • MT4 and MT5 trading accounts with algorithmic trading permitted
  • No information about the management team

E8 Funding

In Summary The retail prop firm with the most customization options for funded accounts

I rank E8 among the best prop firms allowing copy trading in MT5, as it lets prop traders customize their trading conditions. Besides six funded account options, traders can choose their maximum drawdown between 6% and 14% in 1% increments, making the challenge more expensive the higher the maximum drawdown. E8 also allows traders to set their desired profit split between 40% and an unprecedented 100%, in 10% increments, making the challenge more expensive the higher the profit split.

The profit target is 10% for the one-step challenge, 10%-5% for the two-step challenge, and 8%-4%-4% for the three-step alternative.

Read more on E8 Funding »
4.6/5 in this category

Pros & Cons

  • Competitive leverage and commission-based spreads from 0.3 pips
  • Four funded accounts in three base currencies
  • 80% profit share payable after eight days, followed by bi-weekly payouts
  • No details about the management team
  • No information about which broker or brokers E8 Funding uses

What Can You Trade with Copy Trading Prop Firms?

Prop firms that allow copy trading always partner with brokerages, and the asset selection depends on the partner broker and any restrictions the prop firm may implement. The best prop firms allow trading across all major markets including Forex, commodities, equities, indices, and cryptocurrencies.

Are Copy Trading Prop Firms Legit?

Retail prop trading is an unregulated business, but prop firms that allow copy trading are duly registered as a business in the country where they have their registered address. Therefore, traders must always proceed cautiously.

Bottom Line

Many prop firms that allow copy trading limit it to traders copying their strategy across portfolios. Trading with prop firms that enable copy trading from external signal providers raises a red flag that the firm relies on fee-based challenge fees rather than profitable trading. A prop firm could directly copy trades from signal providers, but it would eliminate opportunities for charging traders one-off challenge fees.

FAQs

Does FTMO allow copy trading?

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FTMO allows copy trading using the Telegram Signal Copier during the challenge.

Which prop firms allow trade copiers?

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Many prop trading firms allow trade copiers. The defining difference between prop firms and copy trading platforms is that prop firms usually allow traders to use copy trading software to copy their own strategies across portfolios. Most prop firms prohibit prop traders from copying other traders.

Christopher Lewis
About Christopher Lewis
Christopher Lewis has been trading Forex and has over 20 years experience in financial markets. Chris has been a regular contributor to Daily Forex since the early days of the site. He writes about Forex for several online publications, including FX Empire, Investing.com, and his own site, aptly named The Trader Guy. Chris favours technical analysis methods to identify his trades and likes to trade equity indices and commodities as well as Forex. He favours a longer-term trading style, and his trades often last for days or weeks.