Local Trade Copier is a Forex trade copier service which uses special software for MetaTrader 4 platform which helps retail Forex traders and account managers duplicate trading positions between multiple accounts running on the same computer/VPS so they won’t need to repeat the same trade operations on each MT4 platform individually.
This means now you can trade on multiple MetaTrader 4 accounts simultaneously, mirror the trades of any trading bot to your friends and family accounts (even if it is locked to your MT4 account number), create investment portfolios of many MT4 accounts, remove risk of unregulated Forex brokers, turn losing trading strategy into a winner and become an independent account manager immediately without the need to sign any contracts or opening expensive PAMM accounts with the broker.
Trade Copier vs. Forex Trade Copier Service
We need to make the difference between what a trade copier is and what it’s not. The confusion around this subject is widespread among traders because it’s quite easy for trade copier software to be mistaken with a signal service use for social trading where trades are executed on client’s accounts automatically.
Two Categories of Forex Trade Copiers Services
– Trade copier used by traders who want to copy trades across multiple trading platforms. With this type of software, you can duplicate your trades across multiple trading platforms and share your trades with friends, family and even clients. Basically, the main function is to copy trades from one MT4 account to another MT4 account.
– Trade copier used for trading signal services or simply put it mirror trading. This is the concept of receiving trades via trade copier software directly to your MT4 account. You need to pay a subscription fee to a Forex signal service provider if you want to mirror trading.
Features of Local Trade Copier Services
Copy success of other traders: If you’ve met a friend who’s trading successfully, ask for an MT4 investor password (read-only access) and mirror his trading to your account.
Start copying trades in 5 minutes: Local Trade Copier is designed in such a way that you can start using it immediately without learning all its 100+ configuration options.
Auto Scaling (different account size support): This trade copier will handle different account sizes automatically and scale position size up or down accordingly. Other risk options available for all traders too.
Compatible with other Forex Robots: You can use this account copier with any other trading robot. Just make sure you attach each MT4 EA to a separate chart.
More than 100+ configuration options: LTC is the most configurable app of its kind in industry with more than 100+ options, but it is truly easy to operate it. Imagine yourself inside the car with hundreds of buttons. You might never know what each of those buttons do, but this does not stop you from driving the car.
The same is with this MT4 trade copier software. It has so many options, but you only need to know few to start using it and duplicate trades between MT4 accounts.
MetaTrader 4 friendly: Unlike some other trade copy tools, LTC does not violate any MetaQuotes policies and is completely safe to use for everyone.
FIFO friendly: My account copier is designed to obey FIFO restrictions even if you are copying non-FIFO strategy to an account with FIFO limitations. Hedge trades will be delayed if opposite order is present and SL/TP will be applied as per FIFO requirements.
VPS compatible: You can use LTC in Virtual Private Server (VPS/VPN). This is actually recommended, because it allows you to have MT4 platforms running 24 hours a day without running your computer all the time.
Merge multiple accounts: The same MT4 account can receive trades and then forward them to other MT4 platforms on the same machine. This allows you to merge multiple MT4 accounts into one or simply have different groups of receiver accounts.
Fast trade duplication: Your trades will be copied in 1 second or less under normal conditions. LTC also allows you to control its synchronization rate to speed up or slow down trade mirroring process.
Does not leave orphan trades: LTC uses Smart Trade Identification technology to keep the connection between positions on server and client accounts. When trade ticket numbers change after partial close, “close by” operations or when pending orders get triggered the connection remains. LTC never leaves orphan trades.
3rd party trades allowed: LTC is designed to not interfere in any other positions running on your account. This means you are allowed to open trades manually or automatically while trade copier is working.
Replicates All Order Types: LTC will replicate any order type: BUY, SELL, pending STOP, pending LIMIT, take profit (profit target) and stop loss.
Works with Forex and non-Forex instruments: You can copy not only currency transactions, but also CFD, Indices, Metals and any other instruments that are available on your MetaTrader 4 accounts.
Why Traders Use Forex Trade Copier Services?
Online trading in the Forex market has grown up in popularity in the last couple of years and many traders have chosen to spread their money through multiple trading accounts. This makes perfect sense because putting all your eggs in one basket is not such a smart financial decision when it comes down to the safety of your money.
However, having your money spread across multiple trading accounts comes with its own challenges. One of the biggest challenges is the daunting task of managing the trades across multiple platforms which can lead to even losing money especially if you’re a manual trader.
What if you could copy trades simultaneously on multiple accounts so that trades taken on an account A are placed on an account B or C and D or as many as you like instantly at the same time?
How the Local Trade Copier Works
When you customize the software to give you the market trends and what is selling where and how at what time, you will be getting notifications from these that will help you make the best trades that has the best profits.
These interfaces have lines that fluctuate to show you what is happening in the market in real time and then help you decide. It is quite simple and you could find that it has a feature which allows you will hook it up with your Smartphone and get updates that make sure you miss nothing.
What You Will get from Local Trade Copier
All the money that you will have earned will be managed by the software and that is the best thing that you can ask for in this business as bad money management techniques can take you down very quickly.
The high slippage protection is a way that protects you when the conditions that is in the market get bad and you are at a risk of making losses.
Customization will enable you to trade at your own pace and also be able to keep track of what is important without getting bogged down by the riff raff from useless sources that are not related to your interest.
The software will be able to monitor the things that you do carefully to give you all the facts without having to depend on people as they make errors.
The software will have accompanying videos that are designed to teach you how to make the whole thing fully automatic so that you don’t even have to be there unless you have nothing better to do.
These work pretty much like messages. When there is a change or when the detector notices changes based on the parameters you keyed in to monitor certain currencies, it will send you a notification to show what has happened.
This will display the currency, the current changes and the predictions on the currency you are trading in.
Installation and Use
Despite the complex things that this software is tasked with monitoring, it doesn’t take much of your skill to master or use.
When installing, you will only need look at the simple guide that will include prompts for you to follow when you insert the disk or upload the software. These are very simple to understand as all you will be doing is following prompts.
- It Works- The program actually works because it has been in use since the year 2010 and that is a long time to test and also get feedback which has been positive so far.
- Profits Are Fast- The software was made to ensure that when you are using it, you do not have to go through the motions of trial and error and you will appreciate skipping all that work which goes into making money as a novice with no knowledge.
- Automation is Full- You won’t have to do anything except sit there and make money as it comes in. all you need to do is monitor and authorize trades even from the comfort of your laptop and phone.
- Money Manager- This feature has the responsibility of making sure that the money you have stays with you and that it is not wasted on trades that are useless and not safe. This way you will have all the safety that you need.
- Growing Your Account- this will happen faster when you have the software which has capabilities that will make this growth so much easier as all you will have to do is make sure that you are making the best trades.
- Faster Trading- The software has some really insane speeds that you will find very useful especially when you are the kind that needs to make fast and adrenaline fuelled trades.
- The creator is an expert- who knows his material and the program is built according to the specifications that allow it to handle the multiple accounts that you will have when you are trading.
- Most people think that with this one, you cannot fail. You will need to be careful with what you bet on or buy and that way, be safe in case something happens overnight.