Steps to Install and Set Up Local Trade Copier EA MT4/5©

To install the Local Trade Copier EA MT4/5©, add it to every MT4/5 terminal you’ll use as a transmitter or receiver, using the detailed steps below from step 6. 

Be sure to install Local Trade Copier EA MT4/5© via your MQL5 account in each MT4/5 terminal—manual copying of ex4/5 files won’t work with MQL5.com Market purchases.

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

Download the terminal directly from your broker’s website to prevent issues like symbol mismatches. 

If you’re unfamiliar with installing a second MT4/5 terminal of the same broker, please refer to the GIF below, choosing a distinct folder path during setup.

Next, watch the quick setup video below to complete the transmitter and receiver connection. If your broker adds suffixes to symbols like EURUSD.r or EURUSD+, refer to the second part of the video after 1:15 to see how to configure suffixes.

For example, if EURUSD.r is used on the transmitter account and EURUSD+ on the receiver, enter in the receiver account settings:

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

For instruments that have differing symbols across brokers, use the Special Symbol feature. If the transmitter symbol is US500 and the receiver symbol is SPX500, configure:

Special Symbol 1: US500,SPX500

If copying doesn’t work, open the Experts tab on the receiver terminal to see any error messages.

• The message "not enough money" shows your account has insufficient free margin. Add funds or reduce the lot size.

• If "trade is disabled" appears, it means trading is inactive in your account, so ask your broker to enable it.

• "Unknown error" often means your broker blocks automated trading or expert advisors, which can occur with certain prop firms.

If you’re experiencing setup issues, please contact me on Anydesk. I’m also available through my MQL5.com profile: https://www.mql5.com/en/users/eleanna74

Refer below for the complete installation guide.

Guide to Buying and Installing Local Trade Copier EA MT4/5©

To purchase the Local Trade Copier EA MT4/5© on MQL5.com, you’ll need an MQL5 community account. Register here if needed: https://www.mql5.com/en/auth_register

1. Make sure your MQL5 account has sufficient funds; it’s usually easier to pay with your balance than a credit card.

2. Visit the Local Trade Copier EA MT4/5© product page:

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

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

To copy between MT4 and MT5 terminals, both versions must be purchased.

3. Click "Buy" or "Rent" to complete your purchase.

4. Choose your payment option, and press the green Next button to complete the payment process. 

5.  Once payment is complete, open your MT4/5 terminal to begin downloading and installing your Local Trade Copier EA MT4/5©.

6.  Make sure you’re logged into your MQL5 account using your account username, not email, Facebook, or another method. For example, my login is “eleanna74,” the last part of my profile link: https://www.mql5.com/en/users/eleanna74

7.  Navigate to MT4/5 >> Tools >> Options >> Community tab to confirm you’re signed in with your MQL5 username.

8. In the MT4 Terminal window, navigate to the Market tab below, then select Purchased on the left side, and press the blue Install button to the right of the product. For MT5, open the Navigator window, click on the Market folder, then go to Purchases. A Purchases window will open on the right with your purchased items, where you can click Install for the newly bought product.

Important: You’ll need to install the Local Trade Copier EA MT4/5© in every terminal through your MQL5 account if you plan to use it across multiple terminals. Go back through Steps 6-8 to ensure the EA is set up for each terminal. Copying ex4/5 files is not compatible with MQL5.com Market purchases.

Notice: If you can't see your purchase when you click the Purchased option, check the below mentioned issues:

Make sure that:

• that you have all the latest Windows Updates installed

• that you have Internet Explorer or Microsoft Edge latest version installed on your computer or VPS

• that you are using the latest build of MetaTrader 4/5

• that you are logged into your MQL5 account in MT4/5 >> Tools >> Options >> Community tab, using your login - NOT your email

• that your MQL5 account password is less than 10 characters (if your password is 10 or more characters - change MQL5 account password here)

In case you still don't see the product on the list of your purchases in the terminal, try the following:

1. Close ALL your MetaTrader terminals

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

3. Delete all files starting from mql4.market.* and mql5.market.*

4. Open the MetaTrader terminal

5. Try to install your product again

9. After your Local Trade Copier EA MT4/5© is installed you may want to setup the email and push notifications of your MT4/5 terminal, in order to receive email and/or push notifications about your copied/multiplied trades opened by Local Trade Copier EA MT4/5© and/or daily notifications about your trading account’s basic details, such as balance, equity and margin levels. Also you will be able to receive emergency notifications if your account’s equity drops below the emergency notification equity drops below your pre-defined level.

10. So you open MT4/5 >> Tools >> Options >> Email tab and you fill in the necessary details for your email and server, in order to receive your email notifications. Below is an example of the details that are required and a list of the most popular email providers and their SMTP settings.

● In the SMTP server field you need to put your email provider’s SMTP address, you can see most of the popular providers below.

● In the SMTP login field you need to put your full email, for example: johnsmith@gmail.com

● In the SMTP password field, you need to put your email’s password.

● In the From and To fields, you need to put your full name a comma and then your email again, for example: John Smith, johnsmith@gmail.com

List of SMTP Mail Servers: 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

Notice: If you don’t see your product in the Purchased section, please verify the following:

• Ensure all Windows Updates are current.

• Have the latest version of Internet Explorer or Microsoft Edge on your computer or VPS.

• Confirm you’re running the latest version of MT4/5.

• In MT4/5, go to Tools >> Options >> Community tab, and verify you’re logged in with your MQL5 account login, not email.

• Ensure your MQL5 password is under 10 characters; if it’s longer, change it here.

If the product is still missing from your purchases, try the following:

• Close every MetaTrader terminal.

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

• Delete files starting with mql4.market. and mql5.market..**

• Reopen MetaTrader and retry the installation.

9. After installing the Local Trade Copier EA MT4/5©, consider setting up email and push notifications in MT4/5 for updates on trades, as well as daily summaries and low-equity alerts.

10. For email notifications, go to MT4/5 >> Tools >> Options >> Email tab. Fill in these fields, referencing popular providers below:

• SMTP server: Use your email provider’s SMTP address (see examples).

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

• SMTP password: Your email password.

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

SMTP Servers 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 activate push notifications, head to MT4/5 >> Tools >> Options >> Notifications tab and input the MQL5 ID of your mobile device or tablet, allowing notifications to reach your device. 

The MQL5 ID can be found in the MT4/5 mobile app under Settings >> Messages, or you may also locate it in your MQL5 profile under Profile >> Settings >> Security. 

To avoid receiving transaction alerts twice, don’t enable the Notify of Trade Transactions option if you’ve chosen to get notifications from the Local Trade Copier EA MT4/5© settings. 

12. With your notifications set, you’re now ready to use your Local Trade Copier EA MT4/5©. Open an MT4/5 terminal, then open a chart of any symbol at any timeframe. In the Navigator window on the left side, find your Expert Advisor under Market options and drag it onto the chart or double-click it. 

13. Once the Expert Advisor's settings window opens, in MT4, check Allow live trading and Allow modification of Signals on the Common tab, then press OK. In MT5, select Allow modification of Signals and Allow Algo Trading, and confirm by clicking OK. 

14. If you want to enable the Self Copier option to multiply trade lot sizes within the same account, navigate to the Inputs tab of the Local Trade Copier EA MT4/5©. Set the Account Mode to: Self Copier. 

15. For copying trades between accounts on the same Windows system or VPS without multiplying them on the same account, set the Account Mode field in Local Trade Copier EA MT4/5© to either Transmitter or Receiver as appropriate. If the account is a Transmitter, leave the Transmitter Account Number blank; if it’s a Receiver, enter the Transmitter account number in that field. For multiple Transmitter accounts, input each account number in the Receiver’s settings, separated by commas (e.g., 123456,654321). 

Make sure to install and set up Local Trade Copier EA MT4/5© on all terminals, choosing either Transmitter or Receiver accordingly.

16. Choose your preferred Lot Size Management setting to control how trades are copied to the Receiver.

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. By leaving the other settings at default, trades copied by Local Trade Copier EA MT4/5© on the receiver account(s) will close automatically as soon as the original transmitter account trades are closed. For additional information, review the EA’s Settings Guide.

18. To further protect your receiver account(s), go to Emergency Trade Management, set Use Emergency Account Protection to true, and enter your account’s Equity level. Local Trade Copier EA MT4/5© will close all trades and stop copying to the receiver account if this level is reached, helping protect from further losses. After completing this setting, adjust any other preferences and click OK.

19. When you exit the Expert Advisor's window, you should see a sad face (or a red icon in MT5) in the top right of the chart, signaling that the EA isn’t yet trading. To activate it, click the Auto (Algo) Trading button, which will turn the sad face into a smile (or the red icon to green in MT5). At this point, your Local Trade Copier EA MT4/5© is active, and trades from Transmitter accounts will start copying to Receiver accounts as set up. 

Important! The only 2 settings that are filled in the transmitter account side are these 2 highlighted in the screenshot below. All other settings are filled in the receiver account side. There is no meaning in changing any of the other settings in the transmitter account, it will mean nothing! 

Local Trade Copier EA MT4/5© Quick Setup Video

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