Setting Up Your Local Trade Copier EA MT4/5© for Initial Use

To get started with Local Trade Copier EA MT4/5©, install it on every MT4/5 terminal designated as a transmitter or receiver, using the installation steps provided from step 6. 

Ensure you install the copier through your MQL5 account in each terminal, as ex4/5 files won’t work for MQL5.com Market downloads.

Two MT4/5 terminals are needed: one to transmit trades, the other to receive them. 

It’s best to download the terminal from your broker’s website to prevent symbol mismatches. 

If you’re unsure about installing a second terminal from the same broker, refer to the GIF below and select a unique folder for each setup.

To link your transmitter and receiver terminals, follow the quick setup video below. If brokers use suffixes (e.g., EURUSD.r or EURUSD+), start watching at 1:15 to learn the setup steps.

If the transmitter account’s EURUSD symbol has “.r” and the receiver’s has “+,” enter in the receiver account settings:

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

If you’re copying instruments with different symbols across brokers, use the Special Symbol setting. For example, with transmitter symbol US500 and receiver symbol SPX500, set:

Special Symbol 1: US500,SPX500

If copying isn’t working, go to the Experts tab in the receiver terminal to find any error messages.

• A "not enough money" message indicates insufficient free margin. You may need to add funds or lower the lot size.

• If "trade is disabled," contact your broker as trading may not be active on your account.

• "Unknown error" suggests your broker may restrict automated trading or expert advisors, often seen with some prop firms.

For help, please contact me on Anydesk. I’m also reachable via my MQL5.com profile here: https://www.mql5.com/en/users/eleanna74

For the full installation instructions, continue reading below.

Instructions for Purchasing Local Trade Copier EA MT4/5©

To purchase Local Trade Copier EA MT4/5© on MQL5.com, an MQL5 account is required. Register here if needed: https://www.mql5.com/en/auth_register

1. Confirm that your MQL5 account has enough funds; paying from your balance is often easier than with a credit card.

2. Open the Local Trade Copier EA MT4/5© product pages on MQL5.com:

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

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

Note: You must purchase both MT4 and MT5 versions to enable MT4<>MT5 copying.

3. Select "Buy" or "Rent" to finalize your purchase.

4. Choose a payment method and press the green Next button to advance to the payment step. 

5. After completing your purchase, open your MT4/5 terminal so you can download and install Local Trade Copier EA MT4/5©.

6. When you launch the MT4/5 terminal, make sure you’re signed in with your MQL5 account username, not email or social login. For instance, my login is “eleanna74,” seen at the end of my profile URL: https://www.mql5.com/en/users/eleanna74

7. In MT4/5, navigate to Tools >> Options >> Community tab and ensure you’re signed in with your MQL5 username.

8. Open the Market tab at the bottom of your MT4 Terminal, click on Purchased from the left side, and press the blue Install button for the product you purchased. For MT5, open the Navigator window, click on Market, then select Purchases. You’ll see the Purchases window appear on the right, where you can click Install for your recent product.

Notice: For Local Trade Copier EA MT4/5© to work on multiple terminals, you must install it through your MQL5 account in each terminal. Repeat Steps 6-8 in each terminal where you intend to use it. Copying ex4/5 files doesn’t work with MQL5.com Market products.

Notice: If your purchase is not listed under Purchased, please check these details:

• Install all Windows updates.

• Make sure you’re running the latest Internet Explorer or Microsoft Edge version.

• Verify that MetaTrader 4/5 is fully updated.

• Log into your MQL5 account under Tools >> Options >> Community tab, using your login name, not email.

• If your MQL5 password is 10+ characters, reduce it here.

If your purchase still isn’t visible, try these steps:

• Close every MetaTrader terminal.

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

• Delete files beginning with mql4.market. or mql5.market..**

• Reopen MetaTrader and attempt the installation again.

9. Once installed, consider enabling notifications for Local Trade Copier EA MT4/5© to stay updated on trade activity, account status, and equity alerts.

10. Configure email notifications by navigating to MT4/5 >> Tools >> Options >> Email tab. Enter the following, based on your email provider’s SMTP settings:

• SMTP server: Your provider’s SMTP address (see list below).

• SMTP login: Your email address, e.g., johnsmith@gmail.com.

• SMTP password: Your email password.

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

SMTP Addresses 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. For push notifications on your mobile or tablet, go to MT4/5 >> Tools >> Options >> Notifications tab and enter your device’s MQL5 ID. This will enable real-time alerts directly to your chosen device. 

You can find the MQL5 ID within the MT4/5 mobile app under Settings >> Messages or in your MQL5 profile under Profile >> Settings >> Security. 

To avoid duplicate notifications, make sure not to tick Notify of Trade Transactions if you’re receiving transaction alerts through the Local Trade Copier EA MT4/5© settings. 

12. Now that your notification settings are in place, you can begin using the Local Trade Copier EA MT4/5©. Open any MT4/5 terminal and load a chart of any symbol in any timeframe. From the Navigator window on the left, under Market options, find your Expert Advisor and drag it onto the chart or double-click it to start. 

13. The Expert Advisor settings window will open up. For MT4, under the Common tab, make sure to enable Allow live trading and Allow modification of Signals, then click OK. For MT5, check both Allow modification of Signals and Allow Algo Trading, and click OK to proceed. 

14. To activate the Self Copier feature, which allows you to multiply lot sizes on the same trading account, open the Inputs tab in the Local Trade Copier EA MT4/5© and set Account Mode to: Self Copier. 

15. If copying trades across multiple accounts on the same Windows PC or VPS is your goal, open Local Trade Copier EA MT4/5© and set Account Mode to Transmitter or Receiver, depending on each account’s role. For Transmitter accounts, leave the Transmitter Account Number field empty, while Receiver accounts should have the Transmitter’s account number entered. For more than one Transmitter, list each account number separated by commas (e.g., 123456,654321). 

Install Local Trade Copier EA MT4/5© on each terminal, setting it as either a Transmitter or Receiver.

16. In the Lot Size Management section, specify your preferred lot sizing for trades on 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 other settings are left unchanged, Local Trade Copier EA MT4/5© will close copied trades on the receiver account(s) automatically when the trades on the transmitter account(s) are closed. For complete guidance, refer to the Settings Guide.

18. To enhance the safety of your receiver account(s), navigate to Emergency Trade Management, set Use Emergency Account Protection to true, and define the Equity level where the EA should close trades and stop copying to prevent additional losses. Make any other necessary changes, then click OK.

19. Once you close the Expert Advisor's window, look for a sad face (or a red icon in MT5) at the top right corner of your chart, which indicates the EA is inactive. To enable it, click the Auto (Algo) Trading button. This will change the sad face to a smile (or the red icon to green in MT5). Now, with your Local Trade Copier EA MT4/5© active, trades from Transmitter accounts will be copied to Receiver accounts as configured. 

Local Trade Copier EA MT4/5© Quick Setup Video

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