The majority of prop firms and forex brokers allow traders to have unlimited accounts at once, giving us traders a huge amount of potential options for growing our assets under management. The issue is it’s very hard to manually open, manage and close trades on multiple accounts across multiple brokers extremely quickly to ensure the best prices and without human error coming into play… This is where forex trade copiers come into play.
Duplikium Trade Copier is a trade copier that can work with all brokers, all platforms and claims to be the fastest in the industry. In this article, we are going to look at all of the features, the pros and the cons of using this platform. Let’s get into the article…
- Duplikium Trade Copier
- What Is Duplikium Trade Copier?
- Duplikium Trade Copier Features
- Why Use Duplikium Trade Copier?
- Duplikium Trade Copier Plans & Pricing
- Duplikium Reviews – What Do Traders Think?
- In Summary – Is Duplikium Trade Copier Good?
What Is Duplikium Trade Copier?
Duplikium Trade Copier is simply a cloud hosted tool that allows traders to copy trades from a master account, to multiple copier accounts. This is supposedly the fasted solution out there and allows the trade to be copied in less than 1ms as the data centres are in LD4 and NY4 (really good locations for low latency). Trade Copier should be able to connect to various different trading accounts from CTrader to MetaTrader4, making it usable for all retail traders!
Now we know what it does, lets take a look at the offering in a bit more detail…
Duplikium Trade Copier Features
A lot of the Top Forex Trade Copiers are coming to market with extremely good offerings and a range of features that retail traders really can’t be without. Let’s see what features Duplikium has to offer…
1. Copying Trades To Unlimited Accounts
Although the cost and pricing structure is going to change depending on how many accounts you’re copying trades to, the structure never changes. You’re able to copy trades to 4 accounts, or 400 – the possibilities really are endless as the infrastructure is extremely scaleable.
2. Cross Broker & Cross Platform Accounts
The trade copier allows you to copy trades from a range of account types, which is fairly uncommon. The current offering supports:
- MT4 accounts
- MT4 accounts
- cTrader accounts
- FXCM accounts
- LMAX accounts
This is especially important if you’re going to be managing trades for clients that request a specific account type like LMAX. You can also add literally any forex broker meaning you could copy trades from an IC Markets cTrader account, to an offshore MT4 account with Hugosway with absolutely no issues – something most other solutions can’t offer!
3. Fully Cloud Based
The platform is completely cloud based, meaning you don’t need to setup any programs or platforms locally on your own hardware. With some of the most popular trade copiers like MT4 Copier, you’re likely to need a Forex VPS to run the EA. Although this is cheap, easy and usually fine, being able to avoid having to pay for a VPS is always good. This also means you’re able to log in to the dashboard and monitor all copier accounts from anywhere in the world, should you be a travelling trader!
4. Risk Management Settings
The trade copier comes with a range of risk management settings and tools that are crucial for traders with large operations that can’t keep an eye on all of the copier accounts day to day. Partial closes and other usual features still work absolutely fine and you’re even able to still manually trade on the copier accounts without effecting the trades.
Duplikium Trade Copier can send you SMS and email alerts when an order fails to execute or if the connection to a broker has been lost. This is absolutely crucial as the platform is cloud based so you most likely aren’t going to be keeping a close eye on all of the copier accounts at once – knowing when something goes down as quickly as possible is going to make a huge difference and reduce potential losses.
6. Reverse Trading
One really useful feature is reverse trading. If your main account takes a risky buy, your copier account can automatically take the other side of that position. This is extremely useful if you know you have a losing strategy and taking the other side of the trade may in fact be profitable over the long term. This feature can also be used for hedging and managing risk, for traders with larger portfolios.
Why Use Duplikium Trade Copier?
There is no point utilising a trade copier if you don’t have a good reason as they’re usually fairly costly. The longer I have been in the industry, the more great reasons and uses I have heard of for copiers, so here a few you may want to consider…
1. Reducing Exposure To Brokers
The sad reality of trading is that brokers can go under, leaving traders high and dry with no money to trade with and sometimes years of hard work undone. With brokers that are regulated by good governing bodies like the FCA, the chance of losing your capital in this way is greatly reduce, but usually so is the leverage. This leads traders to choosing offshore, unregulated brokers like FXPig and Hugosway.
A great way to use trade copiers is to have your trading capital split between multiple brokers. For instance…
- Broker A – Main account, 50% of your capital here.
- Broker B – Copier account, 25% of your capital here.
- Broker C – Copier account, 25% of your capital here.
This can compound slower than having all of the capital in one broker but certainly takes off some of the risk. I wouldn’t really do this if you’re not profitable or dealing with small sizes, I would only start looking at diversification when you reach higher levels of capital.
2. Taking On Prop Firm Capital
Prop firms are one of the best ways to grow your trading capital fast and safely, as they let you trade their capital, risk free, in exchange for a profit split. Some of the Best Prop Firms are offering even up to $400,000 in funding! By utilising the trade copier, you can simultaneously trade your own capital and multiple prop firm accounts ensuring you get the absolute most out of every single trade you take. For example…
- Your personal account is $2000 and you average a return of 3% per month. ($60)
- You add a $50,000 instant funding account from MyForexFunds to the copier.
- You add a $50,000 instant funding account from DT4X Trader to the copier.
- You add a CTI $70,000 funded account to the copier.
In theory, if you were constantly averaging your 3% per month return in the forex market , by taking the exact same trades you could increase your earnings that month to $5000. Crazy right?! Of course, this isn’t going to be achievable for most traders as most traders lose money. However, if you’re profitable, utilising one of the Best Trade Copiers alongside some of the Best Prop Firms is a great way to increase your capital under management.
3. Reverse Trading
A great use of a trade copier is to reverse copy strategies from yourself or other traders in the industry. Taking the other side of a trade is something that B-book brokers have done for many years and it can prove quite lucrative if done correctly. Not only can it be useful in looking at trading strategies, it can also help hedge your risk in certain riskier trades where you end up being overexposed, in terms of leverage and currency exposure.
Duplikium Trade Copier Plans & Pricing
Trade Copier has 3 different packages for traders looking to use the platform. The first option is completely free. This is essentially a demo version as you’re only able to add 1 master account and 1 copier account. This also comes with limitations on trade volume and frequency, along with no alerts – however, this is enough for traders to get a feel for the platform and compare the offering against others like Forex Copier 3.
The most popular package is the Flexible package. In this package, you have access to the whole suite of tools but you actually pay per account you’re looking to add, which could in theory be cost effective for some traders. For example, 10 accounts is going to cost you £120 per month. 100 accounts is going to cost you £900 per month, so the cost comes down as you are adding more accounts to the service. In all honesty, comparing this to the price of Forex Copier 3 or Local Trade Copier, this is vastly overpriced and certainly not the cheapest way to go about copying your forex trades.
There is also a prepaid option that comes with no monthly fees. For an additional fee of £49, you can host your cloud trade copier on an Equinox Data Centre Server, ensuring great speeds and low latency.
Duplikium Reviews – What Do Traders Think?
If you’re familiar with some of our other prop firm reviews or forex trade copier reviews, you’ll have noticed that we like to use third party sites to read the opinions of other traders. In my opinion, there’s no point looking at the reviews from a companies own website – that’s like asking a baker if their bread is good, of course they would say yes!
Duplikium has been around in the industry for a long time but weirdly we couldn’t find many reviews online. I managed to find a handful of reviews on ForexPeaceArmy, but nothing on Trustpilot or any other main resources for ranking these platforms. This is fairly rare, for a company to have such few reviews online and personally a bit of a red flag for me, when other tools like MT4 Copier have hundreds of reviews and coverage online.
In Summary – Is Duplikium Trade Copier Good?
In short, the Duplikium trade copier is a good piece of software for traders looking to copy trades from one account, to multiple other accounts. It has a range of really amazing features but nothing that really sets is apart from cheaper alternatives in the market like Social Trader Tools or Forex Copier. For the majority of traders I’d personally stick to the cheaper options out there, with more reviews online.
If you have any experience with this software please do let me know in the comments below, I’d love to know how it performed for you and how many accounts were used.