HUNTX
Build a useful shortlist
Begin with the characteristics you need rather than the largest headline return. Consider the markets traded, typical holding period, frequency of activity and available history. A provider may be unsuitable for your review schedule even when the historical figures look attractive. Write down the criteria before inspecting the leaderboard.
Compare similar periods
Providers with different observation windows are difficult to compare fairly. Review several periods and check whether the return series includes all relevant account activity. Avoid assuming that an exceptional month represents a repeatable process. A longer history can offer context, but it still cannot establish what will happen next.
Look at exposure and delivery
Trade count, drawdown and concentration help describe the path behind the return. Operational history adds another perspective: missed connections, rejected instructions and changes in account settings can affect followers. Ask how the strategy behaves during reduced liquidity and whether you can observe the information needed to manage the relationship.
Keep the decision reversible
Choose sizing and relationship limits before connecting. Make sure pause controls and account responsibilities are clear. Schedule a review rather than waiting for an uncomfortable outcome to trigger one. A shortlist is a starting point for observation, and your decision should remain open to revision as new evidence becomes available.
Continue with our guide to reading provider performance without promises.
Reference: FCA explanation of copy trading.