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Copy-trading execution gaps

Followers receive later fills, different sizes, fees and liquidity than the displayed leader.

Reference note · Sources below

Research articles and reference entries are published in English. Navigation is available in seven languages.

In this article
  1. Overview
  2. Why it matters
  3. What to check
  4. Sources

Overview

Followers receive later fills, different sizes, fees and liquidity than the displayed leader.

Why it matters

The leader can profit before followers enter.

What to check

Compare timestamped orders and fills for both sides.

Sources

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