MT4/MT5 Trade Copier Setup Guide

This guide explains how to install and configure Local Trade Copier EA MT4/5© on transmitter and receiver terminals, including MT4→MT5, MT5→MT4, MT4→MT4 and MT5→MT5 setups. 

Initial Setup of Local Trade Copier EA MT4/5©

To begin using Local Trade Copier EA MT4/5©, install it on every MT4/5 terminal that will act as a transmitter or a receiver, following the installation instructions provided below (starting from step 6).

Please note that the EA must be installed through your MQL5 account on each MT4/5 terminal. Manually copying the ex4/ex5 files will not work for products purchased via the MQL5.com Market.

You will need two separate MT4/5 terminals: one connected to the transmitter account and one to the receiver account. For best compatibility, always download each MT4/5 terminal directly from the corresponding broker’s website and log in using that version. Using terminals from different brokers may result in symbol mismatches or other technical issues.

If you are unsure how to install multiple MT4/5 terminals from the same broker on a single computer or VPS, please refer to the GIF below. Make sure to select a different installation folder for each additional terminal.

Next, configure the connection between the transmitter and receiver terminals by following the steps shown in the quick setup video below. If your brokers use symbol suffixes (for example, EURUSD.r or EURUSD+), please watch the second part of the video starting at 1:15, which explains how to configure suffix settings correctly.

For example, if the transmitter uses EURUSD.r and the receiver uses EURUSD+, enter the following in the receiver settings:

Suffix of the Transmitter Account: .r
Suffix of the Receiver Account: +

If both the transmitter and receiver accounts are with the same broker and use a symbol such as EURUSDm, the suffix must still be configured:

Suffix of the Transmitter Account: m
Suffix of the Receiver Account: m

For indices or instruments that have completely different symbol names between brokers, use the Special Symbol configuration. For instance, if the transmitter symbol is US500 and the receiver symbol is SPX500, enter:

Special Symbol 1: US500,SPX500

Complete Purchase & Installation Guide for Local Trade Copier EA MT4/5©

To get started with the Local Trade Copier EA MT4/5©, you will first need an active MQL5 community account. If you haven't registered yet, you can sign up here: https://www.mql5.com/en/auth_register

1. Prepare your Payment Method We recommend ensuring your MQL5 account balance is funded before purchasing. Paying directly with your MQL5 balance is often smoother and faster than using a credit card directly during checkout.

2. Access the Product Page Navigate to the product page that matches your trading platform:

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

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

Important Note: If you plan to copy trades between an MT4 and an MT5 terminal, you will need to purchase both the MT4 and MT5 versions of the software.

3. complete Your Order Simply click the "Buy" or "Rent" button on the product page to finalize your purchase.

4. Choose your preferred payment method from the options provided, then click the green "Next" button to process the transaction. 

5. Once the payment is confirmed, open your MT4/5 terminal. Your Local Trade Copier EA MT4/5© will now be available to download and install directly within the terminal interface.

6. Before proceeding, ensure your MT4/5 terminal is correctly logged into your MQL5 community account.

Crucial: You must use your MQL5 Username for the login, not your email address, Facebook credentials, or any other method. (Example: If your profile link is https://www.mql5.com/en/users/eleanna74, your username is eleanna74).

7. To confirm you are logged in correctly, navigate to: MT4/5 Terminal Menu >> Tools >> Options >> Community tab. Check that your MQL5 username is visible here.

8. The process for downloading the purchased EA differs slightly between platforms:

• MT4 Terminal:

  1. Go to the Market tab at the bottom of the terminal window.

  2. Click on Purchased (on the left side).

  3. Select the blue Install button next to the Local Trade Copier EA MT4/5© product.

• MT5 Terminal:

  1. Go to the Navigator window.

  2. Expand and click on the Market folder, then select Purchases.

  3. A separate window will open showing your purchases; click Install for the product you just bought.

Crucial Note on Installation: You must repeat Steps 6 through 8 (MQL5 Login verification and in-terminal installation) for every single MT4/5 terminal where you intend to use the Local Trade Copier EA. Due to MQL5 licensing, simply copying the .ex4 or .ex5 files between terminals will not work for Market purchases.

If your purchase does not appear under the Purchased option, please check and confirm the following common issues:

• Software Updates: Ensure you have the latest updates installed for Windows, Microsoft Edge, and the latest build of MetaTrader 4/5.

• MQL5 Login: Verify you are logged into your MQL5 account in the terminal under Tools >> Options >> Community tab, using your MQL5 Username (not your email).

If the problem persists, try a manual file refresh:

1. Close ALL MetaTrader terminals.

2. Navigate to the directory: C:\Users\{your user name}\AppData\Roaming\MetaQuotes\Terminal\Community

3. Delete all files beginning with mql4.market. or mql5.market..

4. Reopen the MetaTrader terminal and attempt the installation again.

9. Once the Local Trade Copier EA MT4/5© is installed, we recommend setting up email and push notifications in your terminal. This feature allows you to:

• Receive updates on trades copied or multiplied by the EA.

• Get daily account summaries (Balance, Equity, Margin).

• Receive immediate alerts if your equity falls below a predetermined emergency level.

10. To set up email notifications, follow these steps:

• Go to MT4/5 >> Tools >> Options >> Email tab.

• Fill in the required fields with your email and server details:

• SMTP server: Enter your provider’s SMTP address (see examples below).

• SMTP login: Enter your full email address, e.g., johnsmith@gmail.com.

• SMTP password: Enter your email password.

• From and To fields: Enter your full name, followed by a comma and your email, e.g., John Smith, johnsmith@gmail.com.

SMTP Settings for Popular 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. To receive alerts directly on your mobile device or tablet, you must link your MQL5 ID to the desktop terminal.

1. Go to MT4/5 >> Tools >> Options >> Notifications tab.

2. Check the box for "Enable Push Notifications".

3. Enter the MQL5 ID of your device into the designated field.

How to find your MQL5 ID:

• On your mobile device: Open the MT4/5 mobile application and navigate to Settings >> Messages. Your ID will be listed there.

• Online: You can also locate all your connected device IDs by logging into your MQL5 profile and going to Profile >> Settings >> Security.

If you choose to configure trade transaction notifications directly within the Local Trade Copier EA MT4/5© settings, do not also enable the default terminal option "Notify of Trade Transactions." Enabling both will result in receiving duplicate alerts for every transaction. 

12. Once you have completed the installation and configured your notification settings, it is time to activate the Local Trade Copier EA MT4/5©.

1. Open any MT4/5 terminal.

2. Open any chart for any currency symbol at any timeframe. (The specific symbol/timeframe does not matter.)

3. In the Navigator window on the left, find your purchased Expert Advisor listed under the Market section.

4. Drag the EA onto the chart (or double-click it) to load the configuration window.

13. The settings window for the Expert Advisor will open; in the MT4 terminal, check the Allow live trading and Allow modification of Signals options under the Common tab, and then click OK. For the MT5 terminal, enable the Allow modification of Signals and Allow Algo Trading options in the Common tab before confirming by clicking OK.

14. If your goal is to use the Self Copier feature to increase the lot size of trades on the same account, navigate to the Inputs tab of the Local Trade Copier EA MT4/5© settings window and select Self Copier in the Account Mode setting.

15. If you are copying trades between multiple accounts on the same Windows PC or VPS, select either Transmitter or Receiver as the Account Mode for the account where you've installed the EA.

If the current account will be the Transmitter, leave the Transmitter Account Number field empty; if it is a Receiver account, fill in the Transmitter Account Number field with the source account's number.

To copy from multiple Transmitter accounts, the Receiver's settings should list each account number separated by commas (e.g., 123456,654321).

Crucial: You must attach and configure the Local Trade Copier EA MT4/5© on each MT4/5 terminal, assigning each one as either a Transmitter or a Receiver.

16. Next, select your desired Lot Size Management method to determine precisely how the copied trades will be placed on your 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.

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.

Finally, if Specific Lot Size Sequence is selected, the Local Trade Copier EA MT4/5© will apply the predefined lot sizes from the Specific Lot Size Sequence setting to all receiver copied trades, including both market and pending orders.

17. By default, and keeping other settings unchanged, trades opened by the Local Trade Copier EA MT4/5© on the receiver account(s) will automatically close when the original trades on the transmitter account(s) are closed. For detailed explanations of all available Inputs/Settings, please consult the dedicated Settings Documentation.

18. To maximize protection for your receiver account(s), navigate to the Emergency Trade Management section in the Inputs tab. Set Use Emergency Account Protection to true and specify the Equity level at which the EA will close all open trades and stop further copying on the receiver account, effectively preventing additional losses. Adjust any other settings as desired, then click OK.

19. After you close the Expert Advisor's settings window, you will notice a sad face icon (or a red icon in MT5) in the top right corner of your chart, which indicates the EA is not yet active. To enable it, simply click the Auto (Algo) Trading button on the terminal toolbar. The sad face will change to a smile (or the icon will turn green in MT5), signifying that your Local Trade Copier EA MT4/5© is now functioning and ready to copy trades according to your configurations.

Important Note on Configuration: Only two settings are required and need to be filled on the Transmitter account side (as highlighted in the screenshot below). All other configuration settings (including risk and filtering) must be adjusted and set on the Receiver account side.

Local Trade Copier EA MT4/5© Quick Setup Video

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