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, 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.
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- FundedNext, 15% profit share of the profits during the evaluation period.
- Hola Prime, The best prop firm for ultra-fast withdrawals.
- Eightcap Challenges, .
- Axi Select, .
- Funded Fast, .
FundedNext
In Summary 15% profit share of the profits during the evaluation periodPros & Cons
- Six account options, a refundable evaluation fee, and a 10% reset discount
- MT4 and MT5 trading platforms with algorithmic trading enabled
- 15% profit share during the evaluation process
- 60% to 90% profit share with ultra-fast withdrawal of five hours
- Limited asset selection
Hola Prime
In Summary The best prop firm for ultra-fast withdrawalsHola Prime is a transparent retail prop trading firm with four trading platforms and a maximum profit share of up to 95%. Traders can choose a one-step or a two-step evaluation for portfolios between $5,000 and $300,000, with an evaluation fee between $48 and $1,499. Alternatively, the Direct account is without evaluation and a one-time cost between $129 and $2,249. Therefore, I rank Hola Prime among the best prop firms.
Traders must trade for at least two days per challenge. The maximum daily drawdown is between 3% and 5%, with a maximum drawdown between 5% and 8%.
Pros & Cons
- A maximum profit share of 95%
- Four trading platforms
- Scalable accounts up to $4M
- One hour payouts
- Reletively newer firm (around one year old)
Eightcap Challenges
In SummaryDay traders get a unique offer: a 1-hour, 2-hour, 4-hour, and 8-hour challenge, a trading stake selection between $5 and $500, and payout ratios of 2, 5, and 10 times. The selection determines the drawdown and profit target, while all accounts start with a $10,000 balance. Traders can use MT4/MT5 and TradeLocker. This places Eightcap Challenges among the best prop firms. Qualifying traders can request payouts in Bitcoin, USDT (TRC20), or USDT (ERC20). KYC requirements are mandatory for withdrawals exceeding $1,000, in line with industry standards.
Eightcap Challenges also offers traditional one- and two-phase evaluations with five account sizes ranging from $5,000 to $200,000, with up to $600,000 in allocated capital per trader. The maximum leverage is 1:100, with a 80% profit share. The one-time evaluation fees range between $99 and $1,299. The profit target is 10% except for the second phase of the two-phase evaluation, where it decreases to 8%.
Pros & Cons
- No time limits on One-Phase and Two-Phase challenges
- Traders can complete challenges within hours and earn payouts on the same day.
- Day Trader Challenges offers a completely customizable trading experience – traders choose their own duration, stake and payout.
- Operated by the multi-regulated Eightcap Group
- Scalping is restricted; trades must be open for 60 seconds
Axi Select
In SummaryAxi launched its Axi Select in-house prop trading service, which sets itself apart from the industry by not requiring a fee-based evaluation, making it 100% free. Interested traders must open a live Axi trading account, fund it with at least $500, and start trading. The personalized Edge Score determines eligibility for a funded account, and Axi has a six-stage program that scales with the trader. For the initial stage, the $500 deposit grants access to a $5,000 account, and the profit share is 0%. It lasts for at least 30 trading days, has a 7% profit target, and requires 20 trades.
The second stage requires a minimum equity balance of $1,000, caps funding at $20,000, and increases the profit share to 40%. The maximum leverage is 1:100 with a maximum drawdown of 10%. The Axi Select structure is created highly professionally, making Axi one of the best prop firms.
Pros & Cons
- Unrestrictive Rules: There are no time limits to qualify; EAs are permitted.
- Scale up to $1 Million
- Backed by a Broker: Run by Axi (founded 2007)
- No Registration Fees: A unique model where you do not pay for an evaluation; the entry cost is zero.
- Regional Restrictions: Program is not available to the US, UK, EU, or Australia.
Funded Fast
In SummaryFundedFast offers six trading challenge accounts, ranging from $5,000 to $400,000. A five-level scaling plan increases the balance of successful traders by 25% each level, with profit target requirements, minimum trading day requirements to promote steady progress, and tighter drawdown limits to enhance professional trading discipline. Traders can choose between one-phase and two-phase challenges. The profit share is 80%, but an add-on increases it to 90%. This puts FundedFast among the best prop firms.
The minimum evaluation fee is $49 for the two-phase $5,000 account, with a maximum of $2,999 for the one-phase $400,000 account. The profit target is 10%, except for the second phase of the two-phase challenge, where it is 5%. The maximum daily loss limit is 5% with a maximum drawdown of 10%. Traders get a maximum leverage of 1:100 for two-phase challenges and 1:50 for one-phase challenges, while an add-on can increase it to 1:200.
Pros & Cons
- Profit share 90%
- Free retry if rules are followed
- Low evaluation fees starting at $49
- Single-phase evaluation with no time limits
- Rewards are not always clear
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.
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.Here is how prop firms that allow copy trading differ from the top copy trading platforms:
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.
