MT4 Forex Local Trade Copier by Rimantas
What is Local Trade Copier?
Local Trade Copier is a special software for MetaTrader 4 platform which helps retail Forex traders and account managers duplicate trading positions between multiple accounts running on the same computer/VPS so they won’t need to repeat the same trade operations on each MT4 platform individually.
How to install the copier easily
My preferred Forex Broker
The best results with this copier I get with ICMarkets, this is a True ECN broker, you are not trading against the broker, rather against the market.
Why the Local Trade Copier is better?
If you have doubts if ther Local Trade Copier is the best choice for you then consider the following points.
Know that the Local Trade Copier has much more features and options than I list on this page, but here I list those features that nearly no other trade copier software has.
3000+ Forex Traders trust Local Trade Copier already.
It is probably the most popular Forex trade copier software for MT4.
Fantastic trade copier reviews on Forex Peace Army.
Most important thing with any software is to get technical support and education.
You can always contact the support team for any questions you have.
Also, they give you free trade copier videos and detailed instruction manuals (included in the LTC copier package).
LTC has more risk management options than other trade copiers.
I believe any other software does not have that many options parameters to control risk size for the trades you copy.
And you can also set different parameter values (including risk parameters) for different master accounts you copy.
“Trade comment” filter to only copy orders with specific trade comments (multiple values can be set). Not many apps offer this.
“Indicator filters” allow you to filter trades by using several MT4 indicators.
“Time filters” (using rectangle objects) allow you to enable/disable copy trading during certain time periods.
Handles CloseBy operations. This is something that not many copier apps can do.
- Martingale mode.
This means LTC copier can copy trades at higher lot sizes (you choose multiplier) if the previous trade of the same instrument closed in a loss. I always tell that martingale trading is very risky, but because there are so many people using this I have included it into my Forex trade copier.
- Lot Splitting
to copy big lot sizes if they are not supported by client account broker.
- LTC does not require installing any additional applications or libraries.
It will take 5 minutes or less to install LTC and start using it. Most other trade copier apps are dependent on 3rd party applications or libraries that were not created to be used with the MetaTrader Expert Advisors. If these applications or libraries crash then your trade copying will crash too and this sort of makes it unreliable solution. This also makes installation on most computer and VPS servers very difficult because 3rd party libraries are not present there.
- LTC does not require installing Microsoft .NET Framework.
Many other apps require you to install or update this piece of software on your Windows machine and this usually makes things complicated.
- With LTC you are allowed to close your trades partially on the client account and LTC will still continue managing them. Other copiers simply would lose the connection with the master for that trade and will abandon it (not continue to manage it anymore). Here’s the video explaining how Local Trade Copier handles partial close transactions.
- LTC has an option to allow manual trade modifications (allows you to change SL/TP on copied trades if needed).
How Forex Trade Copier Works on MT4
A simple step-by-step explanation how to use a trade copier on MetaTrader 4
It’s quite easy to duplicate trades between many MetaTrader 4 accounts using the Local Trade Copier and it’s lightning fast.
Anyone with any experience using MetaTrader 4 (MT4) could setup master and client apps within 5 minutes and start copying trades immediately. In any case, there are instruction manuals included.
Prepare MT4 trading terminals for copy trading
The first step is to prepare MetaTrader 4 platforms. You can do this on any Windows-based desktop PC, laptop or VPS server.
Important to note that all MT4 terminals must be running all the time on the same computer to copy the trades between MT4 accounts.
Install LTC Server EA into MT4 master account(s)
Master MT4 account is where you will be copying trades from and each of them must have LTC Server EA running all the time. You can have any amount of master MT4 accounts as long as your computer has enough power. Master accounts are also be called server accounts, provider accounts or sender accounts.
Use LTC’s auto-installer to install Server EA to multiple accounts automatically or copy its files manually to each MT4 Data Folder.
After installation, Refresh Navigator window or restart MT4 for the Client EA to appear on the “Expert Advisors” list.
An MT4 account becomes a master account once you start the Server EA on that particular platform. You decide which MT4 accounts will be masters and which ones will be clients.
Install LTC Client EA into MT4 client account(s)
Client MT4 account is where you will be copying trades to and each of them must have LTC Client EA running all the time. You can have any amount of client MT4 accounts as long as your computer has enough power. Client accounts can also be called slave accounts, follower accounts or receiver accounts.
Use LTC’s auto-installer to install Client EA to multiple accounts automatically or copy its files manually to each MT4 Data Folder.
After installation, Refresh Navigator window or restart MT4 for the Client EA to appear on the “Expert Advisors” list.
An MT4 account becomes a client account once you start the Client EA on that particular platform. You decide which MT4 accounts will be masters and which ones will be clients.
Each client account can also act as a master account sending trades to a different group of client accounts further on.
Attach Server EA to MT4 Master account(s)
Attach LTC Server EA to all MT4 master accounts you want to copy the trades from. You can add or remove master accounts from your setup anytime you want.
To run the Server EA you will have to input a license key that’s sent to your inbox after you purchase a Local Trade Copier.
Only one chart needs to have Server EA attached per MT4 master account to copy all trades of all the instruments. EA can be attached to any chart or any time frame, but I recommend EURUSD.
I highly recommend using a separate empty chart for the LTC Server EA and do not attach any other indicators or scripts to the same chart window.
You can start Server EA with default settings and learn all different options along the way.
By default, Server EA uses Signal_Provider_ID=1, which means it will send trades to all Client EAs operating with the same ID, or in other words, in the same group #1. You can use this parameter to have different groups of accounts on the same computer copying different strategies.
Once started, LTC Server EA will start scanning your MT4 account non-stop for new trades and existing trade changes and send them to other MT4 accounts(the ones that have Client EA running).
Attach Client EA to MT4 Client account(s)
Attach LTC Client EA to all MT4 client accounts you want to copy the trades to. You can add or remove client accounts from your setup anytime you want.
To run the Client EA you do not have to input a license key, which makes it easier to operate the Local Trade Copier software. Only Server EA requires you to input a license key.
Only one chart needs to have Client EA attached per MT4 client account to copy all trades of all the instruments. EA can be attached to any chart or any time frame, but I recommend EURUSD.
I highly recommend using a separate empty chart for the LTC Client EA and do not attach any other indicators or scripts to the same chart window.
You can start a Client EA with default settings and learn all different options along the way.
By default, Client EA uses Signal_Provider_ID=1, which means it will listen for trading signals to all Server EAs operating with the same ID, or in other words, in the same group #1. You can use this parameter to have different groups of accounts on the same computer copying different strategies. It is also possible to set a list of master accounts to follow using the FilterMasterAccounts parameter. Details are explained in the instruction manual.
By default, Client EA will copy the trades risking the same amount in percentage according to master and client account difference and deposit currency. With LTC it is possible to determine the risk factor for each client account separately. In other words, LTC can handle different lot sizes for different accounts independent of their balance. LTC does all the necessary conversion so if the client account is 5x times bigger the position size copied will be 5x times bigger as well as an example. Local Trade Copier has 5 risk management options.
Once started, LTC Client EA will start listening to all Server EAs running on the same computer non-stop for new trades and existing trade changes and apply them immediately.
Start copying trades from master to client accounts
The best way to test if a trade copier setup is correct without any risk is to place a pending order on the master account at any price very far away from the current market price (at least 30 pips away). This way it won’t be triggered and you will be able to see if Client EA catches and copies the trade. Of course, on a demo account, you can test with any type of trade.
The trade should be copied in less than 1 second.
Once the trade is copied you will find all kinds of information printed in the EXPERTS log at the bottom of MT4 (copy speed, slippage, etc). This is also a place to look for any error or warning messages if you see any of the Client EA’s gray icons turn red.
All kinds of trades will be copied: buy, sell, pending orders (limit, stop), trade modifications, trade close signals, partial close, closeBy, etc.
LTC will copy the trades from the master account regardless how they were opened: by another Expert Advisor, script, manually, or remotely by your trade manager on your account running somewhere else.
What You Can Do With The Local Trade Copier
MT4 is much more powerful with this trade mirroring software
Trade multiple MetaTrader 4 accounts simultaneously
LTC allows to open the same trades on many MT4 accounts at the same time regardless of account type. Trades can be replicated between any type of MT4 account including: real account, demo account, spread betting account, PAMM/MAM account, etc.
“Exhaust” Forex Trading Robots
With Local Trade Copier you can mirror the trades of any trading bot which is locked to your MT4 account. For example, when buy some automated Forex EA it will likely be locked to your MT4 account number. This means you can use it only on one account. But no one prevents you from copying EA trades to other MT4 accounts.
Create investment portfolio of many MT4 accounts
When you are involved in copy trading and follow accounts on MQL5 Market, Zulutrade, MyFxBook Autotrade and similar networks, usually each strategy requires a new account to be opened. If you have 3 accounts following individual strategies and have MT4 investor password (read-only view), then using my Forex trade copier you can merge them all into one MT4 account.
UK Traders Save On Taxes Copying to Their Tax-Free Spread Betting Account
Say you have your primary MT4 account with a broker where the spreads are wide, and the profits are not tax-free. You cannot move from that broker because your MT4 account manager, EA provider or signal provider makes you use it for any reason. You can use Local Trade Copier to turn the situation in your favor and save money on taxes.
Move your funds to a Spread betting (SB) account (like IG MT4 account) sitting in your VPS and copy the trades from your primary account using my Local Trade Copier software. When any positions come live on your primary account, they will automatically come live on your SB account. And likewise, when they close trades, they close on SB too. You can also increase the risk ratio so the profits rise and you can claim the profits tax-free because it’s a Spread betting account.
Remove risk of unregulated Forex brokers
My MetaTrader account copier allows you to duplicate trading from your small account at some overseas unregulated Forex broker into your bigger account you have with a regulated broker you can trust.
Alternative to PAMM (No contracts)
My forex copier software is a great choice for anyone who wants to become account manager immediately without the need of opening MAM/PAMM accounts with the broker.
With my trade copier, you can become an independent Forex account manager and manage MT4 accounts of your friends, family, and other investors. You can buy a Forex robot or trading strategy for your account and mirror its trading to other accounts.
Turn losing trading strategy into a winner
Using the “Reverse Trading” technology, this forex copier program can turn a losing trading strategy into a winning one. The trick here is to mirror positions from a losing master account into a client account and change trade direction.
100% Confidential Trade Copier
I’ve created software to respect your privacy and this trade copier is 100% confidential. This means you will not need to share MT4 passwords with anyone and trades you are copying will be sent only to client accounts (no middle men).
You don’t need to worry about security and privacy because you never need to disclose MetaTrader 4 account passwords to anyone.
Start copying trades in 5 minutes
Local Trade Copier is designed in such a way that you can start using it immediately without learning all its 100+ configuration options.
Different account size support (auto-scaling)
This trade copier will handle different account sizes automatically and scale position size up or down accordingly. Other risk options available for all traders too.
Works on any MetaTrader 4 account
You can replicate trades between all types of MetaTrader 4 accounts, including spread betting accounts, MT4 Plus and PAMM accounts.
No additional software required
LTC does not require you to install any additional software like Visual C++ Redistributable Packages or Microsoft NET.Framework. All you need is MT4 on any Windows machine.
My account copier is designed to obey FIFO restrictions even if you are copying non-FIFO strategy to an account with FIFO limitations. Hedge trades will be delayed if opposite order is present and SL/TP will be applied as per FIFO requirements.
Low CPU/Memory consumption
LTC is designed to use as little CPU and memory resources as possible. Normally, on a regular VPS server you can run ~4 MT4 accounts with the trade copier EA. VPS specifications I use: 1x CPU 2.6Ghz, 1GB RAM, 10 GB disk space, Windows Server 2008.
Flexible trade copying architecture
You can copy trades between MT4 accounts in many ways: one-to-one, one-to-many, many-to-one, many-to-many, many-to-one-to-many.
Merge multiple accounts
The same MT4 account can receive trades and then forward them to other MT4 platforms on the same machine. This allows you to merge multiple MT4 accounts into one or simply have different groups of receiver accounts.
More than 100+ configuration options
LTC is the most configurable app of its kind in industry with more than 100+ options, but it is truly easy to operate it. Imagine yourself inside the car with hundreds of buttons. You might never know what each of those buttons do, but this does not stop you from driving the car.
The same is with this MT4 trade copier software. It has so many options, but you only need to know few to start using it and duplicate trades between MT4 accounts.
Compatible with other Expert Advisors
You can use this account copier with any other trading robot. Just make sure you attach each MT4 EA to a separate chart.
Copy success of other traders
If you’ve met a friend who’s trading successfully, ask for an MT4 investor password (read-only access) and mirror his trading to your account.
MetaTrader 4 friendly
Unlike some other trade copy tools, LTC does not violate any MetaQuotes policies and is completely safe to use for everyone.
You can use LTC in Virtual Private Server (VPS/VPN). This is actually recommended, because it allows you to have MT4 platforms running 24 hours a day without running your computer all the time.
Duplicate trades from MT4 Mobile app
You can trade your account from a MetaTrader 4 mobile app on iPhone or Android and all trades will be replicated to every client account you are running on other devices. More info >>
Fast trade duplication
Your trades will be copied in 1 second or less under normal conditions. LTC also allows you to control its synchronization rate to speed up or slow down trade mirroring process.
3rd party trades allowed
LTC is designed to not interfere in any other positions running on your account. This means you are allowed to open trades manually or automatically while trade copier is working.
Synchronous Position Duplication
Trade copying is performed simultaneously, no matter how many MT4 accounts you run. If it takes half a second to copy a trade, this means all MT4 accounts would normally get the same trade copied in half a second too.
Does not leave orphan trades
LTC uses Smart Trade Identification technology to keep the connection between positions on server and client accounts. When trade ticket numbers change after partial close, “close by” operations or when pending orders get triggered the connection remains. LTC never leaves orphan trades.
Works on Windows
LTC works on all Windows versions. If MetaTrader 4 is running on your computer then you can use this trade copier there as well.
Designed for MetaTrader 4
This software is designed for the MetaTrader 4 platform and can be used with any Forex broker, any MT4 account type and any currency pair.
LTC forex copier can fluently replicate trading positions between accounts of different currency automatically choosing the right position size according to actual currency rates.
Supports all trade operations
Trade copier will replicate not only open/modify/close operations, it will also easily replicate “Trailing stop”, “Break Even”, “Partial Close” and “Close By” actions.
Replicates All Order Types
LTC will replicate any order type: BUY, SELL, pending STOP, pending LIMIT, take profit (profit target) and stop loss.
Demo and Real accounts
My MetaTrader Copier does not have any restrictions for account type. You can copy from Demo to Real account, Demo to Demo, Real to Demo, and Real to Real. Any way you want it. Any way you need it.
Works with Forex and non-Forex instruments
You can copy not only currency transactions, but also CFD, Indices, Metals and any other instruments that are available on your MetaTrader 4 accounts.
In case master and client accounts have different instruments names, trade copier allows you to create your own custom symbol mappings. This way you can set client account to copy SP500 transactions as S&P500 as an example. It’s the same instrument, but named differently.
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