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Is there any reason that a broker would not be able to copy the trades of their most successful customers? Seems like it wouldn't be hard for them to do. Just curious.
Can you help answer these questions from other members on NexusFi?
@Big Mike, I have found that those who do not trade, or paper trade are concerned with being copied. Sadly, they also have other concerns that are at times not relevant to trading.
Those who do trade, realize that brokers in day to day operations are involved in:
1) Sales - bringing customers on board
2) Monitor Risk - in case of unexpected moves
3) Servicing customers who encounter technical issues or have general questions
In case there is a bored broker that all he does is look for successful trades to imitate, he will experience a VERY SHORT career span.
This is a service industry, and regardless of skill, success, and risk capital, all we do is take care of the customer from all aspects: technology, fast response time, and other things that are relevant to that specific trader. We do not engage in trying to imitate or duplicate traders.
I hope this answers what brokers do, or should do.
Thank you for the opportunity to answer this.
Matt
Optimus Futures
There is a risk of loss in futures trading. past performance is not indicative of future results.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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So in other words, it is possible for brokers to be able to do this.
If I owned a brokerage and knew that one of my customers was making 10000% returns on his money, I'd just have some software make the exact same trades as the super trader customer. with my own account. Why wouldn't a broker do this?
Anyway thanks for answering my question.
So if you had access to someone who consistently made tens of millions of dollars trading and you had the ability to make the EXACT same trades as that person, you wouldn't do it?
Every time I've talked with anybody from my broker from the Sales to Customer Support to Trade Desk they've had no idea what my returns are. They don't seem to have access to my account balances or anything. So... I guess if you're making a lot of trade desk calls instead of software executions there might be an intercept along the way... But I don't think the average personnel have that kind of access.
If I owned a brokerage and wanted to do this, I would only copy the trades of the top couple customers. I doubt they'd have any interest in making less money when they could make more. I also don't think they'd give access to just anyone who works there. I would imagine if anyone did it, it would be the people at the top of the company.
The main question I had was if there was anything in place to keep this from happening. Doesn't sound like there is.
