Copy trade and paste - page 2

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lejeune Bauvil #:
Legal or illegal will depend on which country you are. USA makes a big deal of everything sometimes while many other countries do not even care.

So true.

Personal trade copying is unregulated in the U.S. After all, this is merely copying among multiple accounts/instances of MT5 where all accounts are owned by the same person/entity.

In contrast, remote copying to accounts owned by others is regulated by default. I say, default, because there is an easy way out of it:

  1. Do not restrict copying to live accounts only.*
  2. Draft a disclaimer that clearly states that signals are for demonstration and educational use only, signals must be evaluated along with [customer's] greater market evaluation and analysis, and [customer] should consult a licensed financial professional if [customer] seeks advice regarding any specific instrument, asset, market, trade, and/or investment.
  3. Publicly publish all terms (including disclaimer) on your website.
  4. Force display of all terms (including disclaimer) prior to checkout and require checkoff acknowledgement thereof prior to checkout.

* The underlying concept is to remain in ignorant bliss as to how customers are using your signals on their end. Restricting copying to live accounts destroys the legal fiction of "demonstration and educational use only." If you restrict to live accounts only, then you obviously know how customers are using your signals, and you're knowingly providing live trading advice--which is illegal without having the appropriate license.

I know... This sounds absurd, but it's the legal basis for the existence of all U.S. prop firms. Welcome to the U.S. 😐

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