Why choose many smaller accounts over one big account of equivalent size?
Some popular futures prop trading firms such as Fast Track trading or Apex Trader Funding allow traders to have up to 20 trading accounts.
Instead of committing to one big account, traders can choose to either trade all of the smaller accounts as if it is one account and even allocate a subset of accounts to different strategies or asset classes.
One of the main benefits of treating all accounts as one big account includes taking advantage of varying payout rules over differents account types. At Fast Track Trading, for example, the maximum payout in the $25,000 RALLY account is $1500 or 4% of the account size per payout period compared to $3000 or 2% of the account size in the $150,000 GRAND PRIX account type. The total payout of 6 RALLY accounts available per 10 day payout period is therefore $9000 versus $3000 GRAND PRIX account.
How difficult is it to manage multiple accounts simultaneously?
Trying to manually enter the same trade into each trading account is probably not a good idea as it leaves too much room for human error resulting in inconsistent replication of trades.
The easiest way to duplicate trades from a master account to associated slave accounts is to use the integrated function of the respective trading platform.
For example, in the video below you can see how to set up copy trading in Sierra Chart using its Order Allocation to Trade Accounts feature.
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