What is a Copy Trade EA?
Forex trade Copier Expert Advisor (EA) is a system or application which functions to copy trades from one account to another account or multiple accounts as well.
In simple terms, a trade copier is copying the account of a master account to a slave accounts. What trade copiers do is execute forex signals not manually but directly to the trading account. This is a good advantage to those traders who handle many professions or jobs, they can focus on their daily activities and businesses. Of course, it will be difficult for them to trade all day long, execute and focus in front of the screen to trade. That’s why trade copiers are the best solution for them and they can do other extra activities they desire. This copier trade permits persons who are lacking experience and knowledge in the world of trading to invest their money to copy the account of a top trader and earn the same way.
In copy trading, traders can copy and reverse copy the trades of a source account using Expert Advisor (EA) activation. As result, traders here can manage their lot, fund, risk, and many more that trade copiers can provide.
What is good about Forex Trade Copiers that traders love to use?
This is quite popular among traders and day by day it is increasing its range, it has become widespread. The reason might be because an individual trader cannot develop his own strategy and execution to earn a profit in trading alone without the use of any technology. Typically, traders sit for more than a couple of hours sitting in front of their computer just to develop their own strategy. Although, originally it needs years of experience like doing research and analysis in different sectors in the forex market to achieve a successful strategy.
Forex Trade Copier is developed by successful traders whose expertise is in this field so that other traders can avoid stress and time-consuming trading where traders will spend more hours just to achieve winning trade. They will do all things to achieve their goal and that is to win successful trading. Anyway, some forex traders purchase forex signals from reliable sources of providers.
However, it will be meaningless and of no value, if they cannot execute forex signals well, that is why these providers give market execution signals where traders cannot do in their trading account. Once these signals are set in VPS or running well in the computer, it copies trade automatically from the source account to subordinate's accounts. This is called Auto Trade Copier which is designed to copy trades in multiple MetaTrader 4 and MetaTrader 5 terminals with hundred percent accuracy, and have useful providers(source) as well receiver (destination) accounts using computer or VPS.
Forex Trader Copier can be downloaded free and tested using a demo version account online. Make sure that you have downloaded and installed MetaTrader 4 (MT4) or MetaTrader 5 (MT5) on your computer.
Do providers or master accounts want their trading account copied?
Of course, yes. It is quite an advantage on their part because they can be known and get a commission out of copy trading. They can share their account with others globally with their own rules applied to it.
Highlight Features of Forex Trading Copier
- Copy trade between MetaTrader 4 and MetaTrader 5 accounts.
- Can switch between provider to receiver and vice versa using one tool.
- Provider and Receiver can manage their list using a powered database management system.
- Provider and Receiver list can be edited in MetaTrader 4 account or be exported using .csv file format.
- The provider can set an expiration for the subscription of the account for each receiver, if the latter cannot pay the exact amount and date they will not be able to receive the forex signal they purchase.
- One provider can have multiple receivers to copy trade and one receiver can trade as well to multiple providers.
- Can switch mode between Remote (copy over the internet) to Local (copy within the same server or computer).
- Can switch protocol between Trader (copy trades) to Signal (send or receive a signal alert only).
- In Remote mode, the copier will send signals to local receivers one at a time.
- Receivers are protected from any slippage and outdated orders.
- It can filter copy EP, SL, TP, and Exit.
- Receivers can manually trade in their account or rather use another Expert Advisor (EA) without a problem.
- Allowable setup of up to 5 special symbols (e.g. US500 to USA500, etc).
- Has multiple lot size options for the receiver to set up.
- Can recognize and match symbols automatically (prefix or suffix of any brokers).
- Has a friendly interface and user friendly.
- Uses a real-time control panel.
- Can restore previous settings and status after applying then power shutdown.
- Send notification or signal alert via email, mobile, and telegram.
- Allow inverted copy trade for both provider and receiver.
How to use Forex Trading Copier?
Step 1: add the URL of the forex trade copier into both the provider and receiver’s MetaTrader account or terminal, either MT4 or MT5, whichever you want to use.
Step 2: Install the forex trade copier to one chart only to the MetaTrader terminal of the Provider and then choose the role as “Provider”. Click the “Enable” button to proceed.
Step 3: Click the “Receiver’s List” button to add the remote receiver account number into it. Note that only remote receivers added to the list can copy the signal of the particular provider.
Step 4: Now Install receiver Expert Advisor(EA) to one of the charts in the MetaTrader terminal of the Receiver.
Step 5: Click the “Provider’s List” button to add the provider account number into it. Now click the “Enable” button afterward.