The allure of futures trading can fade fast when you realize the amount of time it takes to see results. Success doesn’t come quickly; there’s a lot you need to learn, and even tiny mistakes can set you back significantly. On top of that, the process is tedious and can feel like a full-time job. So, what if you could automate this process and copy the trades of successful futures traders instead? The topstep trade copier, often regarded as the Best Trade Copier, allows you to do just that. This guide will walk you through the benefits of the topstep trade copier, how to set it up, and how to optimize your results for quicker and more efficient trading.
The topstep trade copier operates best on a trading VPS like QuantVPS. A virtual private server, a VPS, creates a separate environment for trading, helping you achieve better results and keep your trading running smoothly.
What Is the Topstep Trade Copier?
Topstep’s Trade Copier lets you smoothly copy trades between accounts as you work toward becoming a consistently profitable trader. This nifty tool, which automates trade copying, can help you manage multiple accounts and improve your efficiency as you pursue your trading goals. A trade copier is a software application that enables traders to automatically copy trades executed by one account to another account in real time. Trade copiers are commonly used by traders who want to replicate the trades of a successful trading strategy.
Utilizing a trade copier, the trader can automate the process of copying trades and eliminate the need for manual trade entry on each account. Once the Trade Copier is set up, any trades placed in the lead account that meet the specified filters will be automatically copied to the follower account(s) with the specified lot size multiplier.
There is no limit to the number of accounts that can be copy-traded. It is important to note that trade copiers do not guarantee success, and there is always a risk involved in trading. We recommend carefully researching and evaluating any trading strategy before using a trade copier to copy trades.
Trade Copier Basics: What You Should Know
The Trade Copier in TopstepX is a tool that allows traders to copy trades from one account to another. This can be useful for traders who manage multiple accounts successfully. In this guide, you’ll see references to the “Lead” or “Leader” account and the “Follower” account(s). The Lead account is the account you’re placing trades on. The Follower account(s) is the account trades are being copied to.
Follower Account(s) will mimic any trades or actions from the Lead Account. Once a Profit Target or Stop Loss is hit, the Lead Account and all Follower Accounts will be liquidated immediately. Depending on order entry and market volatility, you can expect similar total profits and losses across all accounts.
Before Getting Started
Before getting started with the Trade Copier, read this! To copy trades between TopstepX accounts, the Lead account must have the lowest Maximum Position Size. For example, if you have one (1) 50K account, one (1) 100K account, and one (1) 150K account, the Lead account should be 50K, as it has the smallest Maximum Position Size. Risk settings like the Personal Daily Loss Limit do not carry over to copy-traded accounts. You need to set them individually for each account.
Trade copying can only be applied to accounts within the same trading environment. You can copy trades from a Trading Combine to an Express Funded Account and from an Express Funded Account to a Trading Combine. Live Funded Accounts cannot utilize the Trade Copier.
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How to Set Up & Use the Topstep Trade Copier
Setting Up the Topstep Trade Copier: Initial Steps
When it comes to setting up the Topstep Trade Copier, the initial step is to log into your TopstepX account. Next, click the Settings icon on the left sidebar and make sure the Copy Trading tab on the top-left side of the screen is highlighted. From here, you can see a drop-down list of your active accounts.
Click to select the account you want to use as your Lead account. This is the account you’ll be placing trades on. Under Followers, click the checkbox to add the account(s) you want to copy trade on. Once the accounts are selected, you’ll see them checked off. Click “Save Changes” to finalize your settings.
What Happens If I Reset My Account?
Resetting an account removes it from the Trade Copier settings. If you reset your Leader account or Follower account(s), it must be re-added in Settings to continue using the Trade Copier with the newly reset account.
Can I Trade Directly On My Follower Account?
When a Follower account is connected to a Leader account for copy trading, you cannot trade directly on the Follower account. If the order buttons are greyed out on a Follower account, they are still connected to the Leader account. To place trades on that account, it must be removed as a Follower account in Settings.
What Happens When My Accounts Are Synchronized?
If your account balance is the same on both the Leader and Follower account(s) and you hit your Maximum Loss Limit, Daily Loss Limit or are auto-liquidated for any reason on your Leader account, the same will occur on your Follower account(s). For example, if you hit your Daily Loss Limit, you’ll be locked out of trading on your Leader and Follower accounts (s) until the following trading day.
What Happens If I Turn Off The Trade Copier?
Turning the Trade Copier off in an active trade will immediately flatten the Follower account(s). If you hit your Maximum Loss Limit or daily Loss Limit or are auto-liquidated for any reason, the Trade Copier will be turned off and re-enabled if you want to use it going forward.
How To Stop Copy Trading In The Topstep Trade Copier
To stop using the Trade Copier, follow these steps:
- To stop using the Trade Copier, click Settings on the left sidebar.
- Click “Clear”, then click “Save Changes.”
- Once the copier has been deactivated, the default Trade Copier settings reappear.
- Click the Trading icon on the left sidebar to return to your default workspace.
How To Add Or Remove Follower Accounts In The Topstep Trade Copier
To add or remove Follower accounts, follow these steps:
- Click the Settings icon on the left sidebar.
- Check the boxes under “Follow” to add or remove Follower accounts. When the box is checked, the account will be used as a Follower account. When the box is unchecked, the account will not be used as a follower account. Click “Save Changes” after adding or removing follower accounts.
- Once you’ve made the desired changes, click the Trading icon on the left sidebar to return to your default workspace.
Using The Trade Copier On A Mobile Device
You can set up and use the TopstepX Trade Copier on your mobile device by following these steps:
- Using your preferred web browser, open TopstepX on your mobile device.
- Click the three dots on the bottom-right side of the screen.
- Click Trading.
- Click Copy Trading.
- Choose your Lead Account from the drop-down menu.
- Select which accounts you’d like for Follower Accounts by checking the box next to the account name.
- Click Save Changes to save your changes.
Related Reading
- Trade Copier for TradingView
- DX Trade Copier
- Trade Multiple Accounts Simultaneously
- Copy Trading Platforms
Factors to Consider Before Using the Topstep Trade Copier
Copying Trades: What Exactly Does It Mean?
At its core, trade copying involves executing identical trades on multiple accounts. When a trader places a trade, the order will be executed on the master account and then copied to the other accounts linked to the Trade Copier. This process occurs almost instantaneously but does come with some risk. Since trade copying involves placing orders on each account individually, there can be slight discrepancies in balances over time as orders may differ.
Setup Matters: Properly Configuring the Trade Copier
The Trade Copier will only copy trades that are placed after proper setup. If you’re looking to copy trades quickly to mitigate risk, you must first ensure the copier is configured correctly before any trades can be copied.
Latency Issues: Monitoring Copied Trades
The Trade Copier may introduce latency, so monitoring the copied trades closely is essential to ensure they are executed correctly. This is especially true in fast-moving markets where trades differ significantly in seconds.
Number of Accounts: How Many Can Be Copy-Traded?
There is no limit to the number of accounts that can be copy-traded. So, for instance, if you have multiple demo accounts, you can copy trade from one account to another and then again to a third account. You can keep going until you reach your desired result.
Trade Copying Account Restrictions: What You Need To Know
Trade copying can only be applied to accounts within the same trading environment. You can copy trades from a Trading Combine to an Express Funded Account and from an Express Funded Account to a Trading Combine. Live Funded Accounts cannot utilize the Trade Copier.
Deploy a Trading VPS Today
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