How to Install a Forex Trade Copier on MT4 & MT5

Setting up Local Trade Copier EA MT4/5© allows you to copy Forex trades between multiple MetaTrader 4 and MetaTrader 5 accounts running on the same Windows computer or Windows VPS.

This guide explains how to purchase, install and configure your Forex trade copier, connect the Transmitter and Receiver accounts, handle different Forex symbol names between brokers and make your first copying test.

Each Receiver can later use its own lot sizing, symbol mapping, trade filters and risk-management settings.

If you need help with your setup, please contact me through my MQL5.com profile or my company email and I will be happy to assist you with your setup.

Contact me on MQL5.com

Company email: info@juvenille-emperor.com

👉 Local Trade Copier EA MT4©

👉 Local Trade Copier EA MT5©

Quick Forex Trade Copier Setup

For a basic Forex copying setup you need 2 MetaTrader terminals:

Terminal 1 = Transmitter account — the Forex account you copy trades from.

Terminal 2 = Receiver account — the Forex account you copy trades to.

Both terminals must run on the same Windows computer or Windows VPS.

Then:

1. Purchase Local Trade Copier EA MT4© or Local Trade Copier EA MT5©.

2. Install the appropriate EA through your MQL5 account in both MetaTrader terminals.

3. Attach Local Trade Copier EA to one chart in each terminal.

4. Set the first account as Transmitter.

5. Set the second account as Receiver and enter the Transmitter account number.

6. Enable Auto/Algo Trading and open a small Forex test trade on the Transmitter.

If the Forex trade appears on the Receiver, your basic setup is complete.

Which Version Do I Need?

MT4 → MT4: Local Trade Copier EA MT4©

MT5 → MT5: Local Trade Copier EA MT5©

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

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

For example, if both of your Forex accounts use MT5, you only need Local Trade Copier EA MT5©.

If your Forex copying setup contains both MT4 and MT5 terminals, you need both versions.

1. Purchase Local Trade Copier EA MT4/5©

Log in to your MQL5.com account and open the appropriate Local Trade Copier EA product page.

👉 MT4 Version

👉 MT5 Version

Click Buy and complete your purchase.

After the purchase is complete, open the MetaTrader terminal where you want to install the EA.

2. Install Local Trade Copier EA in Your Forex Terminals

In MetaTrader go to:

Tools → Options → Community

Log in with the same MQL5 account that you used to purchase Local Trade Copier EA.

Important: Log in using your MQL5 account login/username, not your email address.

Then find your purchase:

MT4: Terminal → Market → Purchased

MT5: Navigator → Market → Purchases

Find Local Trade Copier EA MT4© or Local Trade Copier EA MT5© and click Install.

Repeat this procedure in every MetaTrader terminal that you want to use for Forex trade copying.

Important: MQL5 Market purchases must be installed through your MQL5 account in each terminal. Copying and pasting the purchased ex4/ex5 file between terminals will not work.

3. Install a Second MetaTrader Terminal

For a basic Forex copier setup you need one MetaTrader terminal for the Transmitter Forex account and another for the Receiver Forex account.

Both terminals must run on the same Windows computer or Windows VPS.

If both Forex accounts use the same broker, install a second copy of the broker's MT4 or MT5 terminal and select a different installation folder during installation.

If your accounts are with different Forex brokers, install the appropriate terminal supplied by each broker.

Whenever possible, use the MetaTrader terminal provided by the broker of the trading account you are using.

4. Set Up the Forex Transmitter and Receiver

Open any chart in your Transmitter terminal and attach Local Trade Copier EA MT4/5© from the Navigator window.

Select:

Account Mode: Transmitter

The Transmitter is the Forex account from which the original trades will be copied.

Now open any chart in your Receiver terminal and attach Local Trade Copier EA MT4/5©.

Select:

Account Mode: Receiver

and enter the Transmitter account number in the:

Transmitter Account Number

setting.

For your first test, select the lot-size option you want to use in:

Lot Size Type

and leave the other settings at their default values unless your setup requires something different.

Make sure Auto Trading / Algo Trading is enabled in both terminals.

Once the basic connection works, each Forex Receiver can be configured independently according to its account size and your preferred lot sizing, risk, symbol and filtering settings.

5. Check Your Forex Symbol Names

This is particularly important when copying Forex trades between different brokers, because corresponding currency pairs may use different symbol names or suffixes.

If the Transmitter and Receiver use the same Forex symbol names without suffixes:

EURUSD → EURUSD

you do not need to configure a symbol suffix.

If the Transmitter uses:

EURUSD+ → EURUSD

enter in the Receiver Local Trade Copier EA settings:

Suffix of the Transmitter Account: +

If the Receiver uses:

EURUSD → EURUSD.r

enter:

Suffix of the Receiver Account: .r

If both Transmitter and Receiver use the same suffix:

EURUSDm → EURUSDm

enter:

Suffix of the Transmitter Account: m

Suffix of the Receiver Account: m

The same principle can be used for other Forex pairs using the same broker suffix structure.

If corresponding instruments have substantially different names, use the Special Symbol settings.

Example:

US500 → SPX500

Enter:

Special Symbol 1: US500,SPX500

Before beginning normal copying, check the exact symbol names shown in the Market Watch window of both MetaTrader terminals.

6. Make Your First Forex Trade Copying Test

Open a small Forex trade on the Transmitter account.

For example, you can use a small EURUSD trade if EURUSD is available on both demo accounts and the symbol configuration is correct.

Check that the corresponding trade appears on the Receiver account.

Then close the original Transmitter trade and confirm that the copied Receiver trade also closes.

If this works, your Forex trade copier setup is ready.

You can now configure your preferred lot sizing, trade filters, symbol mapping, TP/SL options, account protection and other Receiver settings.

For detailed explanations of all available settings, continue with the: Local Trade Copier EA MT4/5© Inputs/Settings Guide

Forex Lot Sizing Between Different Accounts

Once your basic setup is working, you do not have to use the same trade volume on every Forex account.

Each Receiver can use its own Lot Size Type and related settings.

This is useful when your Forex accounts have different balances, equity levels or desired exposure.

For example, the same EURUSD trade can be copied from one Transmitter to several Receivers while each Receiver uses its own configured lot-sizing method.

This allows you to synchronize the trading signal while controlling the financial exposure separately for each Receiver.

For a more detailed explanation of multi-account Forex copying and risk, continue with:

Forex Trade Copier for Multiple Accounts: How to Copy Trades While Managing Risk

If Forex Trades Are Not Copying

Check these first:

1. Is Local Trade Copier EA attached and running in both terminals?

2. Is one EA configured as Transmitter and the other as Receiver?

3. Is the correct Transmitter Account Number entered in the Receiver?

4. Is Auto Trading / Algo Trading enabled?

5. Is the Receiver logged in with its normal trading password rather than an investor/read-only password?

6. Do the Transmitter and Receiver brokers use different Forex symbol names?

7. If suffix settings or Special Symbol mapping are required, have they been configured correctly?

8. Check the Experts and Journal tabs of the Receiver terminal for messages or errors.

For additional solutions, continue with the: Local Trade Copier EA MT4/5© Troubleshooting Guide

If you need help with your setup, please contact me through my MQL5.com profile or my company email and I will be happy to assist you with your setup.

Contact me on MQL5.com

Company email: info@juvenille-emperor.com

Try the Free Forex Trade Copier Demo

You can test Local Trade Copier EA MT4© and Local Trade Copier EA MT5© on demo accounts before purchasing.

Download Local Trade Copier EA MT4© Free Demo

Download Local Trade Copier EA MT5© Free Demo

Download the appropriate free demo file and place it in:

MT4: File → Open Data Folder → MQL4 → Experts

MT5: File → Open Data Folder → MQL5 → Experts

Restart MetaTrader and attach the demo EA to a chart.

The free demo is fully functional for up to 4 hours at a time on demo accounts only.

You can use the demo to test the complete Forex copying workflow, including Transmitter/Receiver configuration, lot sizing and broker symbol differences, before purchasing.

To reset the demo period:

Tools → Global Variables → Ctrl+A → Delete

Important: Only use this reset procedure in a non-essential demo terminal. Deleting MetaTrader Global Variables can affect other Expert Advisors or systems that use them. Do not perform this procedure on a prop-firm challenge account, an important live terminal or any MetaTrader installation containing Global Variables you need to preserve.

Optional: Email & Push Notifications Setup

After installing Local Trade Copier EA MT4/5©, you can optionally configure MetaTrader to send email and push notifications.

Depending on the notification settings you enable in Local Trade Copier EA MT4/5©, you can receive notifications about copied trades, account information and configured account-protection or emergency conditions.

This can be useful when monitoring several Forex Receiver accounts from the same Windows computer or VPS.

These notifications are optional and are not required for Forex trade copying to work.

How to Set Up Email Notifications

In your MT4 or MT5 terminal, go to:

Tools → Options → Email

Enable email notifications and enter the SMTP details for your email provider.

You will normally need to enter:

SMTP Server: Your email provider's outgoing SMTP server and port.

SMTP Login: Your full email address, for example:

johnsmith@gmail.com

SMTP Password: The App Password or other SMTP password required by your email provider.

From: Your sender email address.

To: The email address where you want to receive the notifications.

Common SMTP Server Settings

Some commonly used SMTP settings are:

Gmail: smtp.gmail.com:465 or smtp.gmail.com:587

Outlook/Hotmail: smtp-mail.outlook.com:587

Yahoo: smtp.mail.yahoo.com:465

iCloud: smtp.mail.me.com:587

Mail.com: smtp.mail.com:465

Zoho Mail: smtp.zoho.com:465

GMX: smtp.gmx.com:465

Your email provider may change its SMTP or security requirements, so if these settings do not work, check the current SMTP instructions provided by your email service.

Important: Your Normal Email Password May Not Work

Many email providers no longer allow applications such as MetaTrader to sign in using your normal account password.

If MetaTrader cannot send email even though your SMTP settings are correct, your email provider may require an App Password.

An App Password is a separate password generated specifically for applications such as MetaTrader. Your normal email password remains unchanged.

Gmail Example: Create an App Password

For Gmail, you normally need to have 2-Step Verification enabled before you can create an App Password.

1. Sign in to your Google Account.

2. Make sure 2-Step Verification is enabled.

3. Open the App Passwords section of your Google Account.

4. Create a new App Password for MetaTrader.

5. Copy the generated App Password.

Then return to:

MetaTrader → Tools → Options → Email

and enter:

SMTP Server: smtp.gmail.com:587

SMTP Login: Your full Gmail address

SMTP Password: Your generated App Password

From: Your email address

To: The email address where you want to receive notifications

Do not enter your normal Gmail password in the SMTP Password field when Google requires an App Password.

Test Your Email Settings

After entering your details, click Test in MetaTrader's Email settings.

Then open:

Terminal/Toolbox → Journal

If the configuration is working correctly, MetaTrader should report that the test email was sent.

If the test fails, check:

• the SMTP server and port

• your full email address

• the App Password

• that no spaces were accidentally copied before or after the password

• your email provider's current SMTP and security requirements

Once the MetaTrader email test works, Local Trade Copier EA MT4/5© can use MetaTrader's email functionality for the email notifications you enable in the EA settings.

How to Set Up Push Notifications

Push notifications allow Local Trade Copier EA MT4/5© to send notifications from your desktop MT4 or MT5 terminal to the MetaTrader mobile app on your phone or tablet.

In your desktop MT4 or MT5 terminal, go to:

Tools → Options → Notifications

Enable push notifications and enter your MetaQuotes ID.

How to Find Your MetaQuotes ID

Open the MetaTrader mobile app on your phone or tablet and go to:

Settings → Messages

Your MetaQuotes ID is displayed there.

Enter this ID in:

Desktop MetaTrader → Tools → Options → Notifications

You can then use the Test button to send a test notification to your mobile device.

If the test notification appears on your phone or tablet, your MetaTrader push notifications are configured correctly.

Avoid Duplicate Trade Notifications

If you enable transaction push notifications inside Local Trade Copier EA MT4/5©, do not also enable MetaTrader's:

Notify of trade transactions

option.

Otherwise, you may receive two notifications for the same trading transaction.

Use either the notification functionality configured through Local Trade Copier EA MT4/5© or MetaTrader's general trade-transaction notification option according to your preference.

Have any questions?

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