Forex Trade Copier FAQ – MT4 & MT5 

Answers to common questions about copying Forex trades between MetaTrader 4 and MetaTrader 5 accounts, including different brokers, lot sizing, symbol mapping, multiple Forex accounts and Local Trade Copier EA MT4/5© configuration. 

Forex Trade Copier Basics

What is a Forex trade copier and how does it work?

A Forex trade copier is software that synchronizes trading activity from one MetaTrader account to one or more receiving accounts.

With Local Trade Copier EA MT4/5©, the source MetaTrader account uses a Transmitter EA, while the receiving accounts use Receiver EAs. When a Forex trade is opened, modified or closed on the transmitter account, the copier communicates the corresponding trading instructions locally to the connected receivers.

Each receiver can have its own lot sizing, symbol mapping, trade filters and risk-management settings. This means that the same trading signal can be synchronized across multiple Forex accounts without requiring every receiver to use identical risk or trade-management settings.

The MetaTrader terminals operate on the same Windows computer or Windows VPS.

Can I copy Forex trades between multiple MT4 accounts?

Yes. Local Trade Copier EA MT4© can copy Forex trades from one MT4 transmitter account to one or more MT4 receiver accounts running on the same Windows computer or Windows VPS.

The receiver accounts can use different lot sizes, Forex brokers, symbol names, trade filters and risk-management settings.

Can I copy Forex trades between multiple MT5 accounts?

Yes. Local Trade Copier EA MT5© supports MT5-to-MT5 Forex trade copying between multiple MetaTrader 5 accounts on the same Windows computer or Windows VPS.

You can configure multiple transmitter and receiver accounts, while each receiver can use its own copying and risk-management settings.

Can I copy Forex trades from MT4 to MT5 or from MT5 to MT4?

Yes. Local Trade Copier EA MT4/5© supports cross-platform trade copying in both directions:

MT4 → MT5
MT5 → MT4

To use cross-platform copying, you need both Local Trade Copier EA MT4© and Local Trade Copier EA MT5©.

The transmitter and receiver terminals must run on the same Windows computer or Windows VPS.

Forex Brokers, Accounts & Trade Copying

Can a Forex trade copier copy trades between different brokers?

Yes. The transmitter and receiver accounts do not need to use the same Forex broker.

Local Trade Copier EA MT4/5© can synchronize trades between MetaTrader accounts at different brokers, provided the corresponding instruments are available on the receiving accounts.

Because brokers may use different symbol names, contract specifications, spreads and trading conditions, the copier includes automatic prefix/suffix recognition and custom symbol mapping as well as flexible receiver-specific lot sizing.

How does a Forex trade copier handle different broker symbol names?

Different Forex brokers may use different names for the same currency pair. For example, one broker might use EURUSD, while another uses EURUSD.a, EURUSDm or another prefix/suffix variation.

Local Trade Copier EA MT4/5© can automatically recognize many broker prefixes and suffixes. Custom symbol mapping can also be configured when the transmitter and receiver use substantially different symbol names.

This allows the corresponding instrument to be identified correctly without requiring both brokers to use identical naming conventions.

Can each Forex receiver account use a different lot size?

Yes. Each receiver account can have its own lot-sizing configuration.

Local Trade Copier EA MT4/5© provides 18 lot-size and risk-management methods, including fixed lot size, lot multiplier, balance-proportional sizing, equity-proportional sizing and risk-based methods.

For example, the transmitter could open a 1.00-lot EURUSD trade while different receivers copy the same trading signal using lot sizes appropriate for their individual account balances and risk requirements.

Can I copy one Forex account to multiple receiver accounts?

Yes. One transmitter account can copy its Forex trades to multiple receiver accounts.

Each receiver can be configured independently. One account might use a fixed lot size, another proportional sizing, and another different symbol filters or account-protection settings.

This makes the copier suitable for multi-account Forex environments where the trading signal is shared but each receiving account requires its own implementation rules.

Can I copy Forex trades from an investor-password account?

Yes. The Transmitter EA can operate on a MetaTrader account accessed using an investor password because it only needs to read the trading activity.

The Receiver EA, however, must have trading permission because it needs to open, modify and close trades.

Therefore, an investor-password account can be used as the transmitter, but not as a receiver that is expected to execute copied trades.

Can a Forex trade copier copy pending orders?

Yes. Local Trade Copier EA MT4/5© can copy pending orders to receiver accounts.

Depending on the configuration, pending orders can be copied as pending orders or handled so that the corresponding receiver trade is opened as a market trade when the transmitter's pending order is triggered.

This provides flexibility when copying Forex trades between accounts with different broker conditions.

Can I choose which Forex pairs and trades are copied?

Yes. Local Trade Copier EA MT4/5© includes trade filters that allow you to control which trades are copied.

Trades can be selected or excluded according to criteria such as symbol, magic number, trade comment, ticket number, Buy/Sell direction and trading time or day.

This is particularly useful when one transmitter account contains trades from several Forex strategies or Expert Advisors but only selected trading activity should be sent to a particular receiver.

Can I test the Forex trade copier for free?

Yes. Free demo versions of Local Trade Copier EA MT4© and Local Trade Copier EA MT5© are available.

The demo is fully functional for up to 4 hours at a time on demo accounts only, allowing you to test trade copying, lot sizing, symbol mapping, filters and other settings before purchasing.

For downloads, installation instructions, the setup video and information about resetting the trial period, visit the Forex Trade Copier Free Demo page.

Pricing, Licensing & Setup

How much does Local Trade Copier EA MT4/5© cost?

Local Trade Copier EA MT4© costs $50 for a one-time purchase, and Local Trade Copier EA MT5© costs $50 for a one-time purchase.

Each version includes 20 MQL5 Market activations.

Optional rental licenses are also available for $30 for 3 months or $40 for 6 months.

Visit the Forex Trade Copier Pricing page for complete purchasing and licensing information.

Is the Forex trade copier a one-time purchase or a subscription?

The full license is available as a $50 one-time purchase per MT4 or MT5 version, with no required recurring subscription.

Optional 3-month and 6-month rental licenses are also available for users who prefer a shorter licensing period.

This means that renting is optional rather than a requirement for continued use of a purchased license.

How many activations are included with Local Trade Copier EA MT4/5©?

Each purchased MT4 or MT5 version includes 20 MQL5 Market activations.

Activations are managed through the MQL5 Market licensing system and allow the purchased product to be activated on supported MetaTrader installations according to MQL5 Market rules.

Do I need both the MT4 and MT5 versions for cross-platform Forex copying?

Yes. If you want to copy trades between MT4 and MT5, you need both versions of Local Trade Copier EA.

For example:

MT4 transmitter → MT4 receiver: MT4 version required
MT5 transmitter → MT5 receiver: MT5 version required
MT4 transmitter → MT5 receiver: MT4 + MT5 versions required
MT5 transmitter → MT4 receiver: MT5 + MT4 versions required

Each platform uses its corresponding version of the EA.

Do I need a Windows VPS to use the Forex trade copier?

No. A Windows VPS is not required.

Local Trade Copier EA MT4/5© can operate on a Windows computer as long as the required MetaTrader terminals remain open and connected.

A Windows VPS can be useful when you want your Forex trade-copying setup to operate continuously without depending on your personal computer being switched on.

Can I run the Forex trade copier on my own Windows computer?

Yes. You can install the required MT4 and/or MT5 terminals on your Windows computer and run the transmitter and receiver EAs locally.

The same principle applies when using a Windows VPS: all participating MetaTrader terminals operate within the same Windows environment.

For step-by-step instructions, see the Forex Trade Copier Installation Guide.

Can I use multiple transmitters and receivers at the same time?

Yes. Local Trade Copier EA MT4/5© supports configurations with multiple transmitter and receiver accounts.

This allows you to build different copying arrangements according to your requirements, while individual receivers can use their own lot sizing, symbol mapping, filters and risk-management settings.

Careful configuration becomes increasingly important as the number of MetaTrader terminals and copying relationships increases.

Risk Management, Trade Management & Troubleshooting

Can different receiver accounts use different risk settings?

Yes. Receiver accounts can be configured independently.

For example, one receiver can use a fixed lot size, another can size trades according to its balance or equity, and another can use different account-protection limits.

This is an important distinction in multi-account Forex trading: the trading signal can be identical, while the financial exposure does not have to be.

Can the Forex trade copier protect receiver accounts from excessive drawdown?

Local Trade Copier EA MT4/5© includes receiver-side account-protection and copying controls that can be configured according to the user's requirements.

These include settings related to daily drawdown, profit limits, equity/account protection and suspension of copying when configured conditions are reached.

These controls are risk-management tools and do not guarantee that losses, drawdowns or adverse trading results will be prevented.

Can I reverse Forex trades on the receiver account?

Yes. Reverse-copying functionality allows a receiver to execute the opposite trade direction from the transmitter.

For example, a Buy trade on the transmitter can be copied as a Sell trade on a receiver when reverse copying is enabled.

Reverse copying changes the direction of the copied trades; it should not be interpreted as a method that guarantees profitable results.

Can I copy only Buy trades or only Sell trades?

Yes. Trade-direction filters can be used to control whether Buy trades, Sell trades or both directions are copied to a receiver.

Because receiver settings can be configured independently, different receiving accounts can use different trade-direction rules when required.

Are Stop Loss and Take Profit levels copied to receiver accounts?

Yes. Local Trade Copier EA MT4/5© can synchronize Stop Loss and Take Profit levels and subsequent trade-management changes according to the configured copier settings.

When different brokers are involved, actual price levels and execution conditions can vary because each receiver operates in its own broker environment.

Are partial trade closures copied?

Yes. Partial trade closures can be synchronized to receiver accounts.

The resulting receiver volume depends on the copied trade size and the configuration of the receiving account, so receiver volumes do not necessarily have to be identical to the transmitter volume.

What happens if the transmitter and receiver brokers have different Forex prices?

The copier synchronizes trading instructions, but each receiver trade is executed in its own MetaTrader account through its own broker. Forex prices, spreads, liquidity and execution conditions can therefore differ between the transmitter and receiver brokers.

Local Trade Copier EA MT4/5© includes Better Price settings that allow you to control whether a transmitter trade is copied to a receiver only when the receiver price is the same, better or worse, according to your selected configuration. This gives you additional control over how price differences between Forex brokers are handled when new trades are copied.

The copier also includes a Keep Original TP/SL Distances setting. When enabled, the Take Profit and Stop Loss levels of the copied receiver trade can be adjusted so that their distances from the receiver's actual opening price, measured in points, correspond to the original TP/SL distances from the transmitter trade's opening price.

These settings are particularly useful when copying Forex trades between different brokers, where the exact market prices may not be identical. They help manage differences in entry prices and TP/SL placement while allowing each receiver trade to be executed within its own broker environment.

How quickly are Forex trades copied between accounts?

Because Local Trade Copier EA MT4/5© communicates locally between MetaTrader terminals running on the same Windows computer or Windows VPS, trade synchronization is typically under 0.5 seconds under suitable conditions.

Actual results depend on the computer or VPS, terminal load and configuration.

Copier synchronization time should also be distinguished from broker execution time. After the receiver receives the copying instruction, the order still has to be processed by the receiving MetaTrader terminal and broker.

Does Local Trade Copier EA MT4/5© use a cloud copying service?

No. Local Trade Copier EA MT4/5© uses a local transmitter-to-receiver architecture.

The participating MetaTrader terminals run on the same Windows computer or Windows VPS, so the copier does not require an external cloud trade-copying service to transmit trades between those local terminals.

An internet connection is still required for the individual MetaTrader terminals to communicate with their respective brokers.

Can the Forex trade copier send notifications?

Yes. Local Trade Copier EA MT4/5© includes notification options that can help users monitor relevant copier activity and events, depending on the configured settings.

See the Forex Trade Copier Settings & Inputs Guide for the available notification and configuration options.

What should I check if Forex trades are not being copied?

Start by confirming that the transmitter and receiver EAs are correctly installed and running, automated trading is permitted where required, and the transmitter and receiver settings correspond to the intended copying configuration.

Also check the MetaTrader Experts and Journal tabs for messages or errors. If different brokers are being used, verify that the corresponding Forex symbols are available and correctly mapped on the receiver.

For detailed solutions to communication problems, symbol mismatches, incorrect lot sizes, pending-order issues and other common problems, see the Forex Trade Copier Troubleshooting Guide.

Have any questions?

Reach out to us via the contact page, and we’ll respond as soon as possible.