First-Time Installation and Setup of Local Trade Copier EA MT4/5©

To begin with Local Trade Copier EA MT4/5©, install it on all MT4/5 platforms that you’ll use as transmitters and receivers. Follow the complete installation guide below, starting at step 6. 

Ensure you’re using your MQL5 account to install the Local Trade Copier EA MT4/5© in each MT4/5 terminal you want to use. MQL5.com Market purchases won’t work with copied ex4/5 files.

You’ll need two MT4/5 terminals: one as the transmitter and another as the receiver. 

It’s recommended to download the MT4/5 terminal directly from your broker’s website to avoid symbol mismatches or technical problems. 

If you need guidance on installing a second MT4/5 terminal of the same broker on your computer or VPS, please refer to the GIF image below and make sure to select a different folder path for each installation.

To link the transmitter and receiver terminals, watch the quick setup video below. If any broker uses symbol suffixes (e.g., EURUSD.r or EURUSD+), start watching at 1:15 to learn how to set up suffixes.

For example, if the transmitter account has EURUSD.r and the receiver has EURUSD+, input the suffixes in the receiver account settings as follows:

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

When copying instruments with differing symbols across brokers, use the Special Symbol feature. For example, if the transmitter symbol is US500 and the receiver symbol is SPX500, input:

Special Symbol 1: US500,SPX500

If copying isn’t working, look at the Experts tab on the receiver terminal to identify any error messages.

• A "not enough money" message means there isn’t enough free margin. Add funds or lower the lot size.

• A "trade is disabled" message suggests that trading is turned off on your account. Contact your broker to enable it.

• An "unknown error" may mean that automated trading or expert advisors aren’t allowed, especially with some prop firms.

For any setup problems, feel free to contact me via Anydesk. You can also reach out to me on my MQL5.com profile: https://www.mql5.com/en/users/eleanna74

For the full installation guide, please refer to the section below.

Installing Local Trade Copier EA MT4/5©: A Step-by-Step Guide

To buy Local Trade Copier EA MT4/5© on MQL5.com Market, you need an MQL5 account. If you don’t have one, sign up here: https://www.mql5.com/en/auth_register

1. Make sure there are enough funds in your MQL5 account. It’s often easier to pay with your MQL5 balance than with a credit card.

2. Go to the product page for Local Trade Copier EA MT4/5© on the MQL5.com website:

MT4: https://www.mql5.com/en/market/product/68950

MT5: https://www.mql5.com/en/market/product/68951

Remember: You must buy both MT4 and MT5 versions to copy between MT4 and MT5 terminals.

3. Select "Buy" or "Rent" to complete the purchase.

4. After selecting your payment method, click the green Next button to continue with the transaction. 

5. After completing your payment, open the MT4/5 terminal to download and install Local Trade Copier EA MT4/5©.

6. Ensure you log into your MQL5 account using your username—not your email, Facebook, or other methods. For instance, my username “eleanna74” appears at the end of my profile link: https://www.mql5.com/en/users/eleanna74

7. Go to MT4/5 >> Tools >> Options >> Community tab to check you’re logged in with your MQL5 username.

8. Go to the Market tab at the bottom of the MT4 Terminal window, select Purchased on the left, and click the blue Install button next to your product. For MT5, open the Navigator window, click on the Market folder, then Purchases, and the Purchases window will open on the right, allowing you to click Install beside the product.

Reminder: To enable Local Trade Copier EA MT4/5© across multiple terminals, repeat this installation process through your MQL5 account in each terminal. Return to Steps 6-8 for each terminal to make sure the EA is properly installed. Copying ex4/5 files won’t work for MQL5.com Market items.

Notice: If you don’t see your product under the Purchased section, double-check the following:

• All Windows updates are installed.

• Your computer or VPS has the latest version of Internet Explorer or Microsoft Edge.

• MetaTrader 4/5 is updated to the latest version.

• You’re logged into your MQL5 account in MT4/5, under Tools >> Options >> Community tab, using your login name and not your email address.

• Make sure your MQL5 account password is less than 10 characters; if not, change it here.

If your purchase still doesn’t appear, try these steps:

• Close all MetaTrader terminals.

• Navigate to C:\Users{user name}\AppData\Roaming\MetaQuotes\Terminal\Community

• Delete all files that start with mql4.market. or mql5.market..**

• Reopen MetaTrader and try installing the product again.

9. Once your Local Trade Copier EA MT4/5© is installed, consider configuring email and push notifications within MT4/5. This enables notifications on copied trades, daily account information, and alerts if your equity falls below a critical level.

10. To enable email notifications, go to MT4/5 >> Tools >> Options >> Email tab, and fill out the required fields. Below are SMTP settings for common email providers:

• SMTP server: Enter the SMTP address of your email provider (see examples below).

• SMTP login: Enter your full email address, such as johnsmith@gmail.com.

• SMTP password: Input your email password here.

• From and To fields: Add your full name and email, e.g., John Smith, johnsmith@gmail.com.

SMTP Settings for Common Providers: https://domar.com/pages/smtp_pop3_server

Gmail: smtp.gmail.com:465

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

Mail.ru: smtp.mail.ru:25

Zoho: smtp.zoho.com:465

Gmx.com: smtp.gmx.com:465

11. Set up push notifications by opening MT4/5, going to Tools >> Options >> Notifications, and entering your mobile or tablet’s MQL5 ID. This setup will send notifications directly to your device. 

The MQL5 ID is available in the MT4/5 mobile app under Settings >> Messages or in your MQL5 profile under Profile >> Settings >> Security. 

If you opt to receive transaction push notifications via the Local Trade Copier EA MT4/5© settings, leave the Notify of Trade Transactions option unticked to avoid duplicate alerts. 

12. After configuring your notification settings, you can start using the Local Trade Copier EA MT4/5©. Simply open any MT4/5 terminal and load a chart of any symbol at any timeframe. From the Navigator window on the left, locate your Expert Advisor under the Market section and drag it onto the chart or double-click to apply.  

13. The settings window for the Expert Advisor will pop up. For MT4 users, click the Common tab and enable Allow live trading and Allow modification of Signals, then click OK. In MT5, tick Allow modification of Signals and Allow Algo Trading, and confirm with OK. 

14. For those intending to use the Self Copier to replicate and multiply lot sizes on the same account, go to the Inputs tab in Local Trade Copier EA MT4/5©, and set the first Account Mode option to: Self Copier. 

15. If you want to copy trades across multiple accounts rather than on the same one, configure the Account Mode in Local Trade Copier EA MT4/5© as either Transmitter or Receiver. For Transmitter accounts, leave the Transmitter Account Number field empty. For Receiver accounts, add the Transmitter’s account number, or separate multiple numbers by commas (e.g., 123456,654321). 

Attach Local Trade Copier EA MT4/5© to each MT4/5 terminal where trades need copying, setting each terminal’s role as Transmitter or Receiver.

16. Select your Lot Size Management preferences to adjust how trades are copied onto the Receiver account.

If None is selected, Local Trade Copier EA MT4/5© will not copy any transmitter trades.

If Same Lot Size is selected, Local Trade Copier EA MT4/5© will copy the receiver trades with the same lot size as the original transmitter trades.

If Fixed is selected, Local Trade Copier EA MT4/5© will copy the transmitter trades onto the receiver account(s) with a fixed lot size as per below Fixed Lot Size setting.

If Multiplier is selected, Local Trade Copier EA MT4/5© will use the below Multiplier setting for copying transmitter trades onto the receiver account(s).

If Multiplier by Balance is selected, Local Trade Copier EA MT4/5© will use the below Multiplier by Balance setting for calculating the multiplier that will be used for the receiver copied trades as follows. If the receiver account balance is $10000 and the Multiplier by Balance setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).

If Multiplier by Equity is selected, Local Trade Copier EA MT4/5© will use the below Multiplier by Equity setting for calculating the multiplier that will be used for the receiver copied trades as follows. If the receiver account equity is $10000 and the Multiplier by Equity setting is 1000, the multiplier that will be used for the receiver copied trades will be 10 (10000/1000).

If Proportional by Balance is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) balance only. For example, if the transmitter balance is $2000 and the receiver balance is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

If Proportional by Equity is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) equity only. For example, if the transmitter equity is $2000 and the receiver equity is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

If Proportional by Free Margin is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to the receiver account(s) free margin only. For example, if the transmitter free margin is $2000 and the receiver free margin is $4000, a 0.10 lot transmitter trade will be copied as a 0.20 lot trade to the receiver account.

If Proportional Multiplier by Balance is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to receiver account's balance with an additional multiplier applied, called Proportional Multiplier by Balance that can be adjusted below. This Proportional Multiplier by Balance is 1 by default, so if for example the default Proportional Multiplier by Balance=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Balance value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Balance value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

If Proportional Multiplier by Equity is selected, Local Trade Copier EA MT4/5© will copy the transmitter account trades onto the receiver account(s) with a lot size proportional to receiver account's equity with an additional multiplier applied, called Proportional Multiplier by Equity that can be adjusted below. This Proportional Multiplier by Equity is 1 by default, so if for example the default Proportional Multiplier by Equity=1 gives a 0.20 lot size trade to be opened on the receiver account side, if the Proportional Multiplier by Equity value is changed to 0.5 the receiver lot size will be 0.10 (0.20*0.5=0.10) and if the Proportional Multiplier by Equity value is changed to 3, the receiver lot size will be 0.60 (0.20*3=0.60).

If Risk per Trade in % of Balance is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account balance in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

If Risk per Trade in % of Equity is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account equity in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

If Risk per Trade in % of Free Margin is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined percentage of account free margin in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

If Risk per Trade in Money is selected, each receiver copied trade will have the appropriate lot size in order to lose the user defined amount in account currency in the setting below, when SL is hit. This Lot Size Type can be used only for receiver copied trades that have a stop loss applied. Notice: If the SL of a transmitter original trade is modified, the receiver copied trade SL will be also modified, increasing or decreasing the initial risk of the receiver copied trade, but if the SL of the transmitter trade is removed, the receiver copied trade will be closed.

If Lot Size per 1000 of Balance is selected, Local Trade Copier EA MT4/5© will use the below Lot Size per 1000 of Balance setting, to calculate the lot size of the receiver copied trades, based on the balance of the receiver account. For example if Lot Size per 1000 of Balance=0.03 is inserted and the receiver account balance is $10000, the lot size of all receiver copied trades will be 0.30 lots.

Finally if Lot Size per 1000 of Equity is selected, Local Trade Copier EA MT4/5© will use the below Lot Size per 1000 of Equity setting, to calculate the lot size of the receiver copied trades, based on the equity of the receiver account. For example if Lot Size per 1000 of Equity=0.03 is inserted and the receiver account equity is $10000, the lot size of all receiver copied trades will be 0.30 lots.

17. If you retain the default settings, copied trades on receiver account(s) will close automatically whenever the original transmitter account trades are closed. To explore each option in depth, see the Settings Guide.

18. For enhanced account protection, open Emergency Trade Management, activate Use Emergency Account Protection by setting it to true, and specify the Equity level where Local Trade Copier EA MT4/5© should halt copying and close trades on the receiver account, guarding against excess losses. Make any other necessary adjustments and click OK.

19. After closing the Expert Advisor's window, you may notice a sad face (or red icon in MT5) on the upper right of your chart, showing that the EA is not yet trading. Click the Auto (Algo) Trading button to enable it, and this will make the sad face smile (or change the red icon to green in MT5). Your Local Trade Copier EA MT4/5© is now active, and you will see trades being copied from the Transmitter to Receiver accounts based on your setup. 

Local Trade Copier EA MT4/5© Quick Setup Video

Have any questions?

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