Forex Copier MT4 vs MT5: Which MetaTrader Setup Should You Use?

Forex traders who operate multiple MetaTrader accounts may use MetaTrader 4, MetaTrader 5, or a combination of both platforms.

This creates an important practical question when setting up a Forex trade copier:

Should you use an MT4-to-MT4, MT5-to-MT5, MT4-to-MT5 or MT5-to-MT4 copying setup?

The answer depends primarily on the MetaTrader platforms used by your transmitter and receiver accounts. It can also depend on your brokers, trading strategies, Expert Advisors and the way you want to organize multiple Forex accounts.

Local Trade Copier EA MT4/5© supports same-platform Forex copying as well as cross-platform MT4 ↔ MT5 copying when the corresponding versions are used.

Understanding these configurations can help you choose the appropriate setup without unnecessarily changing brokers, platforms or trading strategies.

Quick Answer

If your transmitter and receiver accounts both use MetaTrader 4, use Local Trade Copier EA MT4©.

If they both use MetaTrader 5, use Local Trade Copier EA MT5©.

If you want to copy Forex trades between MT4 and MT5, use both versions:

MT4 → MT5: Local Trade Copier EA MT4© + Local Trade Copier EA MT5©

MT5 → MT4: Local Trade Copier EA MT5© + Local Trade Copier EA MT4©

The transmitter and receiver accounts can be held at the same or different brokers. Each receiver can also use its own lot sizing, symbol mapping, trade filters and risk-management settings.

What Is an MT4 Forex Copier?

An MT4 Forex copier synchronizes trading activity between accounts running on MetaTrader 4.

A simple configuration looks like this:

MT4 Transmitter

↓

Local Trade Copier EA MT4©

↓

MT4 Receiver

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

When qualifying trading activity occurs on the transmitter account, the copier communicates the corresponding instructions to the configured MT4 receiver account or accounts.

The receiver then executes those instructions through its own broker environment.

What Is an MT5 Forex Copier?

An MT5 Forex copier performs the same general role for MetaTrader 5 accounts.

A typical configuration is:

MT5 Transmitter

↓

Local Trade Copier EA MT5©

↓

MT5 Receiver

This allows trading activity from one MT5 account to be synchronized with one or more MT5 receiver accounts.

As with MT4 copying, individual receivers can be configured with their own position sizing, symbol mapping, trade filters and account-protection settings.

MT4-to-MT4 Forex Trade Copying

If both your transmitter and receiver accounts use MetaTrader 4, the simplest configuration is:

MT4 → MT4

For this setup, you need Local Trade Copier EA MT4©.

This configuration can be used with accounts at the same broker or at different brokers.

For example:

Broker A — MT4 Transmitter

↓

Local Trade Copier EA MT4©

↓

Broker B — MT4 Receiver

The receiver does not have to use the same account balance, lot size or Forex symbol naming convention as the transmitter.

Receiver-specific settings can be used according to the intended configuration.

MT5-to-MT5 Forex Trade Copying

If both accounts use MetaTrader 5, the corresponding setup is:

MT5 → MT5

For this configuration, you need Local Trade Copier EA MT5©.

For example:

Broker A — MT5 Transmitter

↓

Local Trade Copier EA MT5©

↓

Broker B — MT5 Receiver

Multiple MT5 receiver accounts can follow the same transmitter while maintaining their own copying and risk settings.

For traders whose entire multi-account environment already uses MetaTrader 5, there is generally no reason to introduce MT4 merely for the purpose of trade copying.

Can You Copy Forex Trades from MT4 to MT5?

Yes.

Local Trade Copier EA MT4/5© supports MT4-to-MT5 trade copying.

The setup looks like:

MT4 Transmitter

↓

Local Trade Copier EA MT4©

↓

Local Trade Copier EA MT5©

↓

MT5 Receiver

Because two different MetaTrader platforms are involved, both product versions are required.

The MT4 version operates in the MT4 environment and the MT5 version operates in the MT5 environment, allowing the trading activity to be communicated between the two platforms locally on the same Windows computer or Windows VPS.

Can You Copy Forex Trades from MT5 to MT4?

Yes.

The reverse configuration is also supported:

MT5 Transmitter

↓

Local Trade Copier EA MT5©

↓

Local Trade Copier EA MT4©

↓

MT4 Receiver

Again, both the MT5 and MT4 versions are required.

This allows a Forex strategy operating on an MT5 transmitter account to distribute its trading activity to an MT4 receiver account without requiring the source strategy itself to run on MT4.

MT4 ↔ MT5 Forex Copying Can Be Useful When Brokers Use Different Platforms

Not every broker or account environment provides the same MetaTrader platform.

A trader might have:

Broker A — MT4 account

and:

Broker B — MT5 account

If both accounts need to follow the same Forex trading activity, cross-platform copying can connect them without requiring both accounts to use the same MetaTrader generation.

This can also be useful when an existing Forex Expert Advisor or strategy is already operating on one platform while a receiver account is available only—or preferably used—on the other.

The copier acts as the synchronization layer between the two MetaTrader environments.

Do You Need to Convert Your Forex EA from MT4 to MT5?

Not necessarily.

This is one of the practical advantages of cross-platform trade copying.

Suppose a Forex Expert Advisor operates on MT4, but you want its trades to be followed by an MT5 receiver account.

Instead of converting the original trading strategy from MQL4 to MQL5 solely for the purpose of reproducing its trades, you can use:

MT4 Strategy / EA

↓

MT4 Transmitter

↓

Local Trade Copier EA MT4/5©

↓

MT5 Receiver

The original Expert Advisor can remain in its existing MT4 environment while the resulting trading activity is synchronized to the MT5 receiver.

The same principle applies in reverse when an MT5 strategy needs to distribute trades to an MT4 account.

This does not mean that every MT4 and MT5 trading feature is identical. It means the copier can communicate the supported trading activity between the two environments.

MT4 vs MT5 Does Not Determine Your Receiver Risk

Choosing MT4 or MT5 determines the MetaTrader environment in which the account operates.

It does not mean that receiver accounts need to use the same lot sizes or financial exposure.

For example:

MT4 Transmitter — €25,000

could send trading activity to:

MT5 Receiver A — €5,000

MT5 Receiver B — €25,000

MT5 Receiver C — €100,000

Each receiver can use its own position-sizing configuration.

The €5,000 account might use smaller positions, while the €100,000 account uses a different allocation.

The underlying trading signal can remain the same even though the MetaTrader platform, account balance and receiver risk configuration differ.

For a detailed explanation, see Forex Trade Copier for Multiple Accounts: How to Copy Trades While Managing Risk.

MT4 vs MT5 Does Not Require the Same Forex Broker

The MetaTrader platform and the Forex broker are also separate considerations.

These configurations are all possible:

Broker A MT4 → Broker A MT4

Broker A MT4 → Broker B MT4

Broker A MT5 → Broker B MT5

Broker A MT4 → Broker B MT5

Broker A MT5 → Broker B MT4

When different brokers are involved, however, additional differences may need to be considered, including:

• Forex symbol names

• broker prices

• spreads

• lot specifications

• execution conditions

• TP/SL behavior

The choice between MT4 and MT5 therefore solves the platform compatibility question, while the copier's receiver configuration helps address the differences between the participating accounts.

For more detail, see How to Copy Forex Trades Between Different Brokers in MT4 & MT5.

Forex Symbol Mapping in MT4 and MT5 Copier Setups

Corresponding Forex symbols do not always have identical names across MetaTrader accounts.

For example:

EURUSD.r → EURUSD

EURUSD → EURUSD.r

EURUSDm → EURUSD

EURUSD → EURUSDm

The correct configuration depends on the direction of the symbol-name difference.

Local Trade Copier EA MT4/5© can automatically handle transmitter dot suffixes, such as:

EURUSD.r → EURUSD

Other symbol-name differences require the appropriate custom mapping settings.

For example:

EURUSD → EURUSD.r

can be configured with:

Suffix of the Receiver Account: .r

For:

EURUSDm → EURUSD

the appropriate setting is:

Suffix of the Transmitter Account: m

And for:

EURUSD → EURUSDm

the appropriate setting is:

Suffix of the Receiver Account: m

This principle applies whether the setup is MT4-to-MT4, MT5-to-MT5 or cross-platform MT4 ↔ MT5.

The important factor is the actual symbol naming used by the transmitter and receiver accounts.

Can One MT4 Transmitter Copy to Multiple MT5 Receivers?

Yes.

A multi-account configuration can include one MT4 transmitter and multiple MT5 receivers.

For example:

MT4 Transmitter

↓

MT5 Receiver A
MT5 Receiver B
MT5 Receiver C

Because the setup crosses platforms, the corresponding MT4 and MT5 versions of Local Trade Copier EA are required.

Each receiver can then use its own settings.

For example:

Receiver A could use fixed lot sizing.

Receiver B could use balance-proportional sizing.

Receiver C could copy only selected Forex pairs.

The fact that all three accounts receive trading activity from the same MT4 source does not require identical receiver configurations.

Can One MT5 Transmitter Copy to Multiple MT4 Receivers?

Yes.

The reverse topology is also possible:

MT5 Transmitter

↓

MT4 Receiver A
MT4 Receiver B
MT4 Receiver C

Again, both product versions are required because the setup includes both MetaTrader platforms.

This can be useful when the source strategy operates on MT5 while existing receiver accounts remain on MT4.

Can You Mix MT4 and MT5 Receivers?

A multi-account setup can also involve both MetaTrader platforms.

For example:

MT5 Transmitter

↓

MT5 Receiver A
MT5 Receiver B
MT4 Receiver C

Or:

MT4 Transmitter

↓

MT4 Receiver A
MT5 Receiver B
MT5 Receiver C

When both MetaTrader platforms participate in the copying network, both corresponding Local Trade Copier EA versions are required.

This allows the trader to organize accounts according to the platforms actually provided or preferred for each account rather than requiring every receiver to migrate to one MetaTrader version.

MT4 vs MT5 and Pending Orders

Both MT4 and MT5 support pending-order trading, but a copier setup should still be tested carefully, particularly when different brokers or platforms are involved.

Local Trade Copier EA MT4/5© can copy pending orders according to the selected configuration.

It can also be configured so that a pending order on the transmitter is copied as a market trade when the transmitter pending order is triggered.

This can be useful in configurations where the trader prefers the receiver to react to the actual transmitter activation rather than maintain a corresponding pending order in advance.

The appropriate method depends on the intended trading strategy and receiver environment.

MT4 vs MT5 and Lot Sizing

Lot sizing should be considered independently from platform selection.

A transmitter might open:

1.00 lot EURUSD

but that does not mean every MT4 or MT5 receiver should necessarily open 1.00 lot.

Local Trade Copier EA MT4/5© provides 18 lot-size and risk-management methods, allowing receiver volume to be configured according to the intended setup.

These include approaches such as:

• fixed lot sizing

• lot multipliers

• balance-related sizing

• equity-related sizing

• risk-based sizing

This allows accounts with different balances or risk requirements to follow the same source trading activity without necessarily using identical position sizes.

MT4 vs MT5 and Receiver-Specific Trade Filters

Different receivers can also accept different parts of the transmitter's trading activity.

For example:

MT4 Receiver A

could copy:

EURUSD + GBPUSD

while:

MT5 Receiver B

copies:

EURUSD + USDJPY

and:

MT5 Receiver C

copies only trades from a particular Expert Advisor.

Trade filters can be configured according to criteria such as symbol, magic number, comment, ticket and direction.

This means platform choice does not prevent individual receivers from having their own trade-selection rules.

MT4 vs MT5 and Account Protection

Receiver-specific account protection is also independent of whether the account uses MT4 or MT5.

Different receivers may require different:

• daily drawdown limits

• daily profit limits

• equity protection

• account-protection conditions

• copying suspension rules

This is particularly useful when accounts have different balances or purposes.

An MT4 receiver and an MT5 receiver following the same transmitter can therefore use different risk controls.

Should You Choose MT4 or MT5 Specifically for Trade Copying?

If your existing accounts and strategies already use one MetaTrader platform, there is usually no need to change platform merely for the purpose of using Local Trade Copier EA MT4/5©.

If all your accounts are MT4:

Use MT4 → MT4.

If all your accounts are MT5:

Use MT5 → MT5.

If your trading environment naturally contains both:

Use MT4 ↔ MT5 as required.

The more important considerations are whether the required Forex instruments are available, whether the participating brokers are suitable for your strategy, whether the receiver settings are configured correctly and whether the complete setup has been tested.

A trade copier can connect the platforms, but it does not make MT4 and MT5—or the brokers behind them—identical.

When an MT4-to-MT4 Setup Makes Sense

An MT4-to-MT4 setup can be appropriate when:

• the original Forex strategy already operates on MT4

• all required receiver accounts are available on MT4

• existing Expert Advisors or indicators depend on MT4

• there is no practical reason to introduce another platform

In this situation, keeping the copying environment entirely within MT4 can make the setup straightforward.

When an MT5-to-MT5 Setup Makes Sense

An MT5-to-MT5 setup can be appropriate when:

• the strategy already operates on MT5

• all required receiver accounts use MT5

• the trader's existing workflow is already based on MetaTrader 5

• there is no requirement to maintain MT4 receivers

Again, there is little reason to add another platform simply for trade copying if all participating accounts already use MT5.

When an MT4 ↔ MT5 Setup Makes Sense

Cross-platform copying becomes useful when the transmitter and receiver environments naturally differ.

Examples include:

• an existing Forex EA operates on MT4 while the receiver account uses MT5

• a source strategy operates on MT5 while an existing receiver remains on MT4

• different brokers provide or require different MetaTrader platforms

• a multi-account network contains both MT4 and MT5 accounts

In these situations, cross-platform copying allows the trading activity to be synchronized without forcing every participating account onto the same MetaTrader generation.

Do MT4 and MT5 Receiver Trades Have to Be Identical?

No.

The objective of a flexible Forex copier is not necessarily to make every receiver account an exact clone.

For example, the same source trade could be implemented as:

MT4 Receiver A
EURUSD — 0.20 lot

MT5 Receiver B
EURUSD.r — 0.50 lot

MT5 Receiver C
EURUSD — 1.00 lot

provided that the relevant symbol mapping and receiver settings are configured appropriately.

Likewise, one receiver may accept a trade that another receiver filters out.

This is why it is useful to think of Local Trade Copier EA MT4/5© not only as a synchronization tool, but also as an execution and risk-management layer between the source strategy and each receiving account.

How to Set Up an MT4 or MT5 Forex Copier

A practical setup follows the same basic sequence regardless of the chosen MetaTrader topology.

1. Identify the Transmitter Platform

Determine whether the source account uses MT4 or MT5.

2. Identify the Receiver Platform

Determine whether each receiver uses MT4 or MT5.

3. Install the Required Copier Version

Use the MT4 version in MT4 terminals and the MT5 version in MT5 terminals.

If both platforms participate in the copying network, use both versions.

4. Configure the Transmitter

Attach the appropriate Transmitter EA and configure which trading activity should be available for copying.

5. Configure Each Receiver

Attach the appropriate Receiver EA and configure its individual copying settings.

6. Check Forex Symbol Names

Compare the exact symbols used by the transmitter and receiver brokers.

If the transmitter uses a dot suffix such as:

EURUSD.r → EURUSD

the automatic transmitter dot-suffix mapping can apply.

For other differences, configure the appropriate custom mapping settings.

7. Configure Lot Sizing and Risk

Choose the intended position-sizing method and receiver-specific account-protection settings.

8. Configure Trade Filters and Trade Management

Decide which trades should be copied and how TP/SL, pending orders and other supported trade-management actions should be handled.

9. Test the Setup

Use suitable demo accounts before relying on the configuration with important live accounts.

Testing an MT4 ↔ MT5 Forex Copier Setup

Cross-platform configurations should be tested just as carefully as same-platform ones.

Test:

Market orders — Buy and Sell.

Pending orders — according to the selected copying mode.

Forex symbol mapping — particularly where broker symbol names differ.

Lot sizing — confirm the actual receiver volume.

TP/SL synchronization — including subsequent modifications.

Partial closures — verify receiver behavior.

Trade filters — confirm included and excluded trades.

Multiple receivers — verify that each receiver follows its own configuration.

Terminal restarts — make sure the intended setup continues to operate correctly afterward.

Testing should reflect the actual combination of MetaTrader platforms and brokers that you intend to use.

MT4 vs MT5 Forex Copier Comparison

The most important distinction is therefore straightforward:

Same-platform copying requires the corresponding platform version.

Cross-platform copying requires both versions.

Local Trade Copier EA MT4/5© for Forex Trade Copying

Local Trade Copier EA MT4/5© supports multiple MetaTrader copying configurations while allowing receiver accounts to maintain their own implementation rules.

Relevant functionality includes:

• MT4-to-MT4 copying

• MT5-to-MT5 copying

• MT4-to-MT5 copying

• MT5-to-MT4 copying

• multiple transmitter and receiver configurations

• different Forex brokers

• automatic transmitter dot-suffix mapping

• custom symbol mapping

• 18 lot-size and risk-management methods

• receiver-specific trade filters

• TP/SL synchronization and management

• pending-order copying

• partial closures

• time and day controls

• account-protection settings

The participating terminals run on the same Windows computer or Windows VPS, allowing the copier to synchronize trading activity locally between the configured MetaTrader accounts.

Which Forex Copier Setup Should You Use?

Choosing between an MT4 Forex copier and an MT5 Forex copier does not need to be complicated.

If the transmitter and receiver both use MT4, use:

MT4 → MT4

If both use MT5:

MT5 → MT5

If the transmitter uses MT4 and the receiver uses MT5:

MT4 → MT5

If the transmitter uses MT5 and the receiver uses MT4:

MT5 → MT4

And if your multi-account environment contains both platforms, the two versions can work together as part of the same local copying setup.

There is no need to select MT4 or MT5 merely because one is assumed to be universally “better” for trade copying. The appropriate configuration is the one that matches the platforms, brokers, strategies and accounts you actually use.

From there, each receiver can be configured according to its own symbol names, lot sizing, trade filters and risk requirements.

The MetaTrader platforms can differ. The brokers can differ. The receiver settings can differ. The trading activity can still be synchronized.

Have any questions?

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