Duplikium trade copier review & alternative

With all the available automation options, trading strategies and modern approaches to forex trading, having just one forex trading account and simply trading from it seems to be somewhat a thing of the past. Whether you are managing multiple accounts at several brokers for yourself or work as a money manager and manage accounts for other traders, most likely you do not like the idea of copying your trades between all the accounts manually. This is why automated trade copiers are becoming so popular now.

One of the tools that allow automatically copying trades between multiple accounts is Duplikium. This article provides a review of Duplikium features, pros and cons and suggests a Duplikium alternative with a similar set of features.

Duplikium overview

Duplikium trade copier is a trade copier that is able to connect to multiple brokers and copy trades between them. This software is cloud-hosted and does not require installation. Duplikium is advertised to work with any broker including cTrader brokers, LMax, FXCM brokers. The trade copier can be used to trade Forex, CFDs, Crypto, Metals, and Volatility Index and offers some convenient features such as reverse trading. The reverse trading feature allows to automatically place an opposite trade on the backup account. It can be useful, if you have opened a risky trade on your primary account and want to weigh down the risks. However, Duplikium is mostly tailored for use as a personal trade copier and has little to offer for forex money managers.

The program has a free version which allows you to connect one master and one slave account. Adding more accounts requires a paid subscription. Since you are looking for a trade copier, most likely, you need to connect more than two accounts, so you need to keep in mind that Duplikium pricing depends on the number of accounts or the number of trades you need and can get quite expensive. Despite being advertised as $3.90 per account, in reality the service charges small volume money managers much higher prices. For example, with a monthly subscription and 7 connected accounts you will need to pay $87.50 per month (that is $12.50 per account). To get their advertised 3.90 per account tariff, you will need to connect 1000 accounts and prepay for the year ahead, so your payment total at the time of purchase will be $46800 (which will buy you 12 months of using Duplikium).

Duplikium pros

Works with any broker and account type.
Trade between multiple master/slave accounts of different types.
Supports multiple currency pairs and other trading instruments.
No software installation required.
Reverse-trading feature.
Fast trade copying execution.

Duplikium cons

Free version is limited to two accounts.
High costs for adding more accounts.
Limited number of reviews.
Limited tools for money managers.
No tools for forex signal trading business administration.

Duplikium alternative

Bottom line? Duplikium is a convenient copy trading software, the main disadvantage of using which is its high price. It is definitely not very budget-friendly for small users. If you have several hundreds of accounts to manage, then Duplikium pricing per account drops significantly, but compared to alternatives it does not offer convenient tools to manage this large number of accounts and you might need to buy additional software to track your subscriptions, host your own website and manage follower account records.

If you are not happy about paying high monthly or yearly fees to Duplikium, you might want to find a cheaper alternative with a similar set of features. Trade Copier, a relatively new player on the market, seems to be a good fit. Trade Copier is a decentralized trade copier and multi-account management platform. Similarly to Duplikium, it is a cloud-based service that works with multiple brokers and a vast variety of trade instruments. Support of multiple master and slave accounts is included. As well as a free version allowing to connect one master and one slave and test if the software is a good fit. For faster trade execution, Trade Copier offers several data centers across all around the globe, so latency and trade copying speed and reliability shall not be an issue. If you need a trade copier not just for your personal accounts, but to copy trades between your followers accounts, you will definitely want to check out Money Manager Studio add-on. It offers a set of features designed specifically for forex money managers from a branded website, to convenient follower and subscription fee management.