Is copy trading legit?
It covers three questions: is it allowed, is the software real, does it make money. Between your own accounts the first two have simple answers; the third depends on your trading.
Between your own accounts, it is ordinary trading
You hold several futures accounts, place an order in one, and software places matching orders in the others. Every account and order is yours, and the money stays at your broker. A copier removes the retyping; who trades, what's traded and where the funds sit stay the same.
The bad reputation comes from paid signal rooms selling someone else's trades with return claims attached. That is a different product.
- In Quanify, a fill can only reach accounts you connected yourself
Where the rules sit for your case
Most futures traders asking this hold funded or evaluation accounts, and there the firm's contract decides. Rules differ per firm and per account type, and they change.
Search the current rulebook for "copy", "mirror", "duplicate" and "multiple accounts" before you arm anything.
Which prop firms allow copy tradingThree signs of a service to avoid
- It takes custody
- A copier places orders in accounts you hold. If a service asks you to deposit money with it, it isn't a copier.
- It promises returns
- A promised return in a leveraged product is false. Futures losses can exceed your deposit.
- It hides bad months
- A screenshot isn't a track record. Ask for the largest drawdown, over what period, on which instrument.
What copying does to profit and risk
A copier repeats your results in both directions. It is only as profitable as the trading you copy.
- Results
- Your trading, repeated on every account, wins and losses alike
- Costs
- Commission and fees are charged per account
- Risk
- Four followers on one Leader hold one position four times
- A bad day
- Hits every account in the group at once
- Your funds
- Stay at your broker, in your name; Quanify never holds them
Check it before you commit
None of this needs a funded account.
- 01
Run it simulated
Point the Leader and Followers at simulated or evaluation accounts through real sessions.
- 02
Watch a partial fill
Place an order large enough to fill in pieces and check every Follower at each step.
- 03
Multiply your worst day
Apply the multipliers to your largest drawdown on one account. If that number is uncomfortable, lower them.
- 04
Read your firm's rules
If any account is funded or in evaluation, that contract decides.
Common questions
Short answers to what traders ask first. Anything else, the Help Center has it.
Is copy trading legit?
Copying between your own accounts is ordinary trading without the retyping: your orders, your accounts, your funds at your broker. The phrase's reputation comes from paid signal rooms making return claims, which is a separate product.
Is copy trading legal?
Copying between accounts you own is ordinary trading. Trading other people's accounts for compensation, or publishing signals as investment advice, is a regulated activity in most jurisdictions and needs proper advice. Prop firms separately set their own rules by contract, which can be stricter.
Is copy trading profitable?
Only as profitable as what you copy. A copier repeats results in both directions, multiplies commission across accounts and concentrates risk.
Does a copy trading service hold my money?
It shouldn't, and Quanify doesn't. Your funds stay in your accounts at your broker; the software only places orders.
Do prop firms allow copy trading?
It varies by firm and often by account type, and firms usually separate copying your own accounts from executing a third party's signals. Read the current rules for the account before you arm anything.
More on copy trading
Start on a simulated account. Go live when it earns it.
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- Nothing to download
- Paper account for testing
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