Trade Copiers in 2023

If you are looking for a reliable trade copier, the TLDR version is Replikanto. This is where my research kept me coming back. It seems great. It seems to meet all people's expectations. So, I will be testing it. I will record my results and a walk-through of how it works. I am not sure when, but I hope to have the time in the next few days.

Even though we don't own any trade copiers, I decided to spend some time researching them to provide an answer for all the people who might be interested. After many failed attempts, the final results are here.

We have receive the most common question is, "What is a good trade copier?". Other variations include "How do trade copiers work in XYZ software" or "What is the best trade broker for NinjaTrader." It all boils down to "Please tell me which trade copier is best for futures trading."

Why use a trade copier?

A trade copier is a great option for people who have multiple accounts. Instead of trading them individually, it's easier to link them all together. This allows you to have an order that you execute on Account A, Account B, Account C, and so forth.

As a trader evaluations expert, I can see the benefit of people copying trades. I have three accounts funded and two brokerage accounts as of July 2021. You have two options: either focus on one account at a given time or log in to multiple accounts and manually execute trades from multiple accounts. This could mean that you have multiple charts open or different depths of markets and that you can click fast. Of course, this might not work depending on how you trade.

I am a scalper of treasuries. Decisions are quick and flexible. While an entry now may be a good idea, I might have to make the same entry execution multiple times.

What is a Trade Copier? How does it work?

They copy your trades, which is pretty straightforward. The software will ask you what master account and which accounts should execute identical trades. Sometimes referred to as Leader-Follower.

Logging in to multiple accounts (or all of them under one log in) allows you to set up the software to tell you who is the Leader and your Followers. Then you can trade away.

It doesn't necessarily have to be a 1 to 1 copy. You might have four contracts in Account A. Account B copies would be two and Account C copies 6, respectively. A trade-in of one product can trigger a trade on another account. Perhaps Account A is the account where you trade ten lots NQ. A smaller account is what you're working on growing. Account B copies that account but in MNQ.

Rithmic and Multiple Log Ins Limitations

This is a crucial issue that most people will encounter so please read on.

Rithmic and Trade Copiers - Multiple accounts with different Log Ins

This is a bit confusing, I know. Summary: Rithmic only allows one instance to be logged into at a given time. If you have multiple accounts and all fall under different logins, Rithmic will not allow you to use a trade copier on the same machine.

Let's dig deeper. Rithmic, the main data feed provider, allows only one login per Machine. So it doesn't matter if RTrader Pro is used for logging in, NinjaTrader, Jigsaw, or any other method. This is a fact you can't ignore.

It doesn't matter if 1 Rithmic log in from Earn2Trade. You can log into your LeeLoo account as well. You can't. Rithmic doesn't care that they are different companies. Rithmic = 1 login at a time. That's all.

It's not possible to copy your Earn2Trade trades from your LeeLoo or OneUp accounts simultaneously if you are a trade copier. Why? Rithmic is only able to log in one time. It cannot copy accounts that aren't logged into.

Rithmic and Trade Copiers - Multiple Accounts Below 1 Log in

A trade copier can assist you if you have multiple logins. Here is the trader evaluation information as of 2021.

Apex Trader Fundingallows for as many accounts as you want in your evaluation and allows you to fund them all under one login. Apex Trader Funding does not have a scaling plan. They are highly recommended.

Earn2Trade allowed multiple accounts in late 2021. It works well with Earn2Trade, as I have tested it.

LeeLoo Trading lets you have as many funded AND evaluation accounts as you like, all within one login. Trade five accounts at once. A trade copier is a great tool for LeeLoo trading.

Profit Trader allows for as many evaluations as you wish under one login, but you can only have two Funded Accounts per login. Multiple funded accounts can be created. Let's take five again as an example. You would have three logins if you had two groups. Trade copier could be used for any login or two accounts.

All other evaluations: TopStep Trader, Earn2Trade, OneUp all require a funded account. Only one. There are no multiple logins. One account. These are not the types of trades that a trade copier can help with (except if you're copying from Rithmic to Rithmic).

Copying between Machines

This is where the story gets more complicated than I want to go into. You can use the trade copier I mentioned above to copy between computers. In this case, you could log in to different Rithmic accounts and let the robot work its magic. Although this is not something most people want, it is possible. You can check the Flowbots information.

My recommendation: Replikanto from Flowbots (NinjaTrader only)



All that aside, I spent a week looking into the world of trade copiers. Then, after many more dead ends and software that didn't seem to be doing what people wanted, all roads led back to Replikanto from Flobots.

You should also be aware that resellers sell this software under different names. If it appears familiar, you may have come across one charging higher. But, again, it is best to go directly to the source. You'll save money and get support if you have any questions.

Here is a screen grab that summarizes everything. You can choose which accounts you would like to follow, who the Leader is, what copy method (exact quantity, etc.), and which products you should copy.

About Flowbots

Add-on NinjaTrader(r), eight accounts, Order replicator (Trade copier). This add-on replicates orders from a Leader Account into multiple follower accounts depending on the replication method chosen. In addition, trades can be copied from NinjaTraders(r) to other machines within the same network. There are many replication options (Exact Quantity and Equal Quantity, Ratios, Ratios, Net Liquidation. Available Money. Percentage Change. The new Pre Allocation).

Cross Order. Trade micro and copy mini (ES – MES, NQ-MNQ, ...).). Complete the list in the description.

Network Mode. You can copy trades from one computer to the next using the local network. NinjaTrader(r), 8 with Replikanto, must be installed on all machines in the local network. You will need to have at least two machine license types.

ATM Orders. ATM orders are copied from the leader account to all followers.

NT7 to HTML8. Trades can also be copied from NinjaTrader (r) 7 to NinjaTrader (r) 8. Will require ReplikatorNT7 product.

• Single Machine: $ 149-lifetime license
• 2 Machines: $ 249-lifetime license
• You can also get a one year license for slightly less

These are the available replication methods:

Exact Quantity

• This method copies the exact volume among all accounts within the group.
• You send an order for 400 shares of ABC stock. Each account receives 400 shares if your Account Group contains four accounts. Each account also receives 400 shares if your Account Group contains six accounts.

Equal Quantity

• You will need to indicate an order size. This method divides the shares equally among all accounts within the group.
• Example: You send an order for 400 shares of stock ABC. Each account receives 100 shares if your Account Group contains four accounts. Each account receives 66 shares if your Account Group contains six accounts.

Ratio

• A ratio can be set for each follower account. It can range from -100 up to 100. If you send a two-contract order with a 0.5 ratio, the follower account will receive a one-contract order. If you create a 2.0 ratio and send an order for one contract to the follower account, they will be issued a two-contract order. A negative ratio will reverse the orders. Buys will be converted to sales, and so forth.

Net Liquidation

• You will need to indicate an order size. This method allocates shares based upon the net liquidation value for each account. This system calculates ratios from the Net Liquidation Value in each account and then allocates shares according to these ratios.
• Example: You send an order for 700 shares of stock XYZ. This account group includes A, B, and C, with Net Liquidation Values of $25,000, $50,000, and $100,000, respectively. The system calculates a ratio between 1:2:4 and allocates 100 shares for Client A, 200 shares for Client B, and 400 shares for Client C.

Available Money

• You will need to indicate an order size. This method allocates shares based on the equity available in each account. This system computes ratios using the available money in each account and then allocates shares according to these ratios.
• Example: You send an order for 700 shares of stock XYZ. This account group includes A, B, and C, with equity available in the amounts of $25,000 to $50,000, $100,000, and $100,000 respectively. The system calculates a ratio between 1:2:4 to allocate 100 shares to Client A and 200 shares to client B, and 400 shares to Client C.

Percentage change

• You are not required to specify a size for your order. The system calculates the order quantity. After the order has been acknowledged, the Quantity field displays the order size. This method can increase or decrease an existing position. A positive percent will increase a position while a negative percent will decrease it.
• Pre Allocation - Each follower account will use the quantity that has been pre-allocated regardless of its amount.

Cross Order Replikanto Instruments:

• ES - MES, NQ - MNQ, YM - MYM, 6A - M6A, 6B - M6B, 6E - M6E, 6J - M6J, 6S - M6S, GC - MGC, ICD - MICD, IJY - MIJY, ISF - MISF, NF - MNF, RTY - M2K, CL - QM, QM - MCL (NEW), NG - QG, RB - QU, HO - QH, ZS - YK, ZC - XC, ZW - YW, FDXA - FDXM, ...
• The user can add or remove instruments from the cross-order list at any time.

Trade Copier Conclusion

If you have multiple accounts, trade copiers can be a viable option. If you need a trade copier, We recommend Replikanto. Multiple accounts can make it confusing, depending on your relationship with them. However, the following should help you to understand what is happening. If you have any questions, please email me, and I will do my best to help.

• See more of The Best Funded Trader Programs for 2022

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