Local Trade Copier 2.0
Metatrader (MT4) Expert Advisor
Copy trades between different metatrader platforms with a powerful, reliable, flexible and tested Trader Copier EA.
- Easy to use and configure
- Works with all brokers and account types
- Supports multiple sources and receivers
- Custom lots and risk management
- Allows reverse copying of trades
- Installation in just one minute
All you need is the investor password of the account you wish to copy trades from. The EA implements a lot of useful features:
- It is self-hosted: depends on your computer only
- Custom lotsize and exposure restrictions
- Filter trades by symbol or comment
- Supports configuration schemes
- Filter trades by order type
- Equity protection features
- Custom SL and TP levels
- Copying trade history
Enhance your trading or management activity with the most complete Local Trade Copier Expert Advisor available, like hundreds of customers have already done!
How does it work?
The Local Trade Copier is composed of three elements:
- A visual and easy to use configuration program
- A Source EA to read trades from the master account
- A Receiver EA to replicate trades to the slave accounts
The configuration wizard will generate a file on the hard drive containing the selected copying options. Then, the Source EA will read trades from the master account and the Receiver EA will copy these trades to the slave accounts applying the desired options and configuration.
The wizard also saves the expert advisors into your metatrader platforms automatically. You don't have to worry about manually saving the .ex4 files in your platform.
The Source EA and the Receiver EA have no input parameters. Everything is configured easily and visually in the application wizard, which instructs both EAs how to operate automatically.
Who is this tool for
Local Trade Copier is a solution for individual traders or account managers who need to execute trade signals from external sources or who need to manage several MetaTrader 4 accounts at the same time. It is a simple and reliable tool which copies orders from one MT4 to one or more other MT4s.
If you have a good source of Forex signals and want to execute these signals on other platform, or you just want to manage several accounts without the need of a MAM or a PAMM, then this tool is exactly what you are looking for.
- It protects you from losing money. Metatrader execution errors are processed. If the program cannot open/close the order due to connection issues, it will try later. It also allows you to override execution lotsizes, stop-loss and take-profit levels, and to stop copying trades based on the drawdown or floating point of the master account.
- It is user-friendly
- A fast and automatic installation is paired with a visual and user-friendly configuration wizard which makes unnecessary for you to peruse over an endless set of inputs parameters on the Expert Advisor. The wizard generates configuration files for the Expert Advisors to use.
- It supports all metatrader brokers, execution types and order types. The copy activity will be carried out properly even if master and slave brokers are in different time zones, and lastly, different symbol names won't be a problem as well.
- It gives you almost complete freedom customizing trades from the master account to slave accounts. For example, you can trade exactly the opposite as the master account using the reverse mode and filter incoming signals by different criteria: lotsize, pairs, trade comment, total exposure, etc.
- It is 100% self-hosted
- The trade copier runs on your computer and depends on nothing else. It does not use a web-server or sends any information through the internet. Trades are copied fastly between local metatrader platforms.
- Easy and fast installation
- The trade copier will install on your computer automatically and auto-detect your metatrader platforms. It implements a copying configuration wizard which saves you from understanding difficult input parameters in the EA.
- Reverse mode
- If you enable this feature,the copier will open opposite orders on the receiver account. If the source account buys, the receiver account will sell. SL and TP levels would be also inversed. Extremely useful to copy bad traders.
- Custom lots and risk management
- You can choose to copy trades using a) fixed lotsize, b) fixed multiplier of volume, c) auto adjusted lotsized based on relative equities or d) auto adjusted lotsize based on the receiver's account equity.
- You can filter out trades using different criteria: min/max lotsize, max number of orders for a given symbol, by trade type and finally, time restrictions. If you decide to ignore pending orders, slave accounts will copy pending orders as market orders once they are executed in the master account.
- Copy only profitable or losing trades
- You can decide to copy only profitable or losing trades using a defined number of pips as trigger. For instance, you can copy trades when they are 5 pips in profit, or copy only losing trades when they are 50 pips in loss.
- Filter by pair and comment
- You can narrow down the copying activity by pair name and comment field. For example, you can copy trades only for EURUSD and/or if the comment field contains a certain string, for example "Your EA Name".
- Supports all order types
- The EA supports the following order types: buy, sell, buy limit, sell limit, buy stop and sell stop. If you decide to ignore pending orders, the trades will be copied when they become market orders in the master account.
- Supports all brokers, execution models anc account types
- The EA supports all Metatrader4 brokers and DD/NDD/ECN/STP execution. It has been tested on ITCFX, FXCM, FOREX.COM, XM, FxNet, FxPro, HY Markets, RoboForex, Hirose UK, ThinkForex, ForexBrokerInc, FBS, MIG, FXOpen, DF Markets, FX Choice, FXSOL, IBFX, Alpari, Oanda, MB Trading, MaxiFX, AVAFX, FXDD and others. You can copy from demo accounts to live accounts and vice-versa.
- Protection features
- The EA can stop copying trades when the source equity/balance reaches a certain value or drawdown level. This is useful to implement your own risk management rules on top of the master account.
- Wait for a better price
- This feature allows you to copy trades at exactly the same price as the original trade. If enabled, the slave account will wait until the price is exactly the same -or better- as the original trade to copy it. This feature can cause the slave accounts to miss some trades, but becomes very useful for scalping or short-term trading strategies.
- Try again function
- If an order fails to be opened or closed for whatever reason (requote, off quotes, server down, etc) the EA will try to fill it later. The EA can fill it at market price or wait for the market to hit the original price again to fill it, as you wish.
- Custom SL and TP settings
- Optionally, you can override the stop-loss and take-profit levels for all trades copied from the master account to slave accounts.
- The application reports copied trades and current trades for your analysis.
- ? FAQ
- I don't see the EAs listed on my navigator!
- Please open the Local Trade Copier program and click on "Apply Scheme". Then close and open your Metatrader platforms again to see the EA listed under expert advisors.
- Trades are not being copied!
- Make sure you have loaded SourceEA on the master platform and ReceiverEA loaded on the slave platform. Also make sure you have DLL Calls enabled and Autotrading permissions for both Metatrader platforms.
- How many slave accounts can I have?
- There is not a predefined maximum number of slave accounts you can copy to. This number is restricted only by hardware of the computer in which the program runs. Kindly note that you'll need to have just one account per single MT4 platform.
- Do I need the master password of the master account?
- No, you don't. You can copy trades if you have the investor password,
- I get a 5020 error and trades are not being copied!
- It means that the ReceiverEA could not copy the trade from the master account. This can happen if A) The symbol name is completely different from the master to the slave account: for example, GER30 and DAX30. Please override symbol names on the application settings. B) Trading is disabled on the account, which can mean you are trying to trade on a read-only account or that the broker is off-quotes. C) The symbol you are trying to copy needs a suffix. For example, if the master symbol is EURUSD and the slave symbol is EURUSDfx, you need to type the suffix ("fx") on the Local Trade Copier settings.
- What Windows versions are supported?
- It supports Windows 98 and higher. Windows 98, Windows 2000, Windows Server 2003, Windows Server 2008, XP, Vista, Windows 7 and Windows 8.
- My metatrader terminal crashes when I run the EA!
- Probably you have more than one Local Trade Copier loaded per terminal. Please remove the EA from all charts, and load it just once per terminal. Loading it once will make sure all trades are copied.
- Can I copy trades from one master account to several accounts?
- Yes, you can! Just make sure to configure several receives in the Local Trade Copier window. Then load the ReceiverEA into all those platforms.
- Can I copy trades from several sources to a single slave account?
- Yes, you can! Make sure to configure several sources for the same slave account. This way you can mix the trading of two master account into a single slave account.
- Do I need to load the EA into several charts?
- No, you don't! In fact, if you do, the Metatrader platform will crash. Please load the EA just once on each platform. This will ensure trades from all symbols are being copied.
- The copying activity stops after 5, 10 o 15 minutes! What is going on?
- Very likely your computer is going into sleep mode after 15 minutes of inactivity. Go to windows control panel and disable all sleeping and power saving options to avoid this from happening again.