Yes, you can copy trades from an MT4 or MT5 account using its investor password. Log in to that account in the Transmitter terminal with read-only access. Log in to the destination account in the Receiver terminal with its normal trading password so Local Trade Copier EA can open, modify, and close copied trades there.

An investor password lets MetaTrader display the account and its trading activity. Original trades are placed through a trading-enabled session on the source account. The read-only Transmitter observes those trades, and the Receiver places corresponding trades on its own account. Use accounts you own or have permission to copy from.

Set up two demo accounts and three MetaTrader sessions

This walkthrough uses MT5. For MT4, follow the same account roles using the MT4 demo and the AutoTrading control.

Keep the Transmitter and Receiver running on the same Windows PC or Windows VPS. For this test, you can run all three sessions side by side using separate MetaTrader installations. If you reuse the same broker’s installer, choose a different installation folder for each copy. See the Installation Guide for help setting up additional terminals.

Configure the read-only Transmitter

1. In the Transmitter terminal, choose File → Login to Trade Account. Enter Account A’s account number, investor password, and broker server.

2. Install the downloadable LTC demo for your MetaTrader version and attach it to one chart. In the EA inputs, set Account Mode to Transmitter.

3. Enable Algo Trading in MT5 or AutoTrading in MT4, following the Installation Guide. The account itself still has read-only access.

Configure the trading-enabled Receiver

1. Log in to Account B with its normal trading password and the correct broker server.

2. Attach the LTC demo to one chart and set Account Mode to Receiver. Set Transmitter Account Number to Account A’s number.

3. Enable Algo Trading or AutoTrading. For a simple first test, choose a symbol with the same name on both accounts and a demo trade size the brokers accept. In the Receiver inputs, set Copy Current Trades to false and Copy New Trades to true so the test starts with a newly opened trade. To check a Stop Loss change, make sure Copy Stop Loss is enabled. See the Settings & Inputs Guide for those options.

Verify a trade opening, a Stop Loss change, and a close

1. Open a new market trade. In Account A’s trading-enabled session, open one small demo position with a Stop Loss. In the read-only Transmitter, check that the original position appears in the Trade tab. Then check that a corresponding position appears in Account B’s Trade tab.

2. Change the Stop Loss. In Account A’s trading-enabled session, move the Stop Loss to a valid level. Check that the Receiver updates its Stop Loss according to its settings and the broker’s rules.

3. Close the original position. Close it in Account A’s trading-enabled session. Verify that the corresponding position closes on Account B.

What if the Transmitter sees the trade but the Receiver stays empty?

First check how you logged in to the Receiver. An investor login can show the account and its existing positions, but it cannot execute a copied trade. Log in to Account B with the trading password and confirm that Algo Trading or AutoTrading is still enabled.

If the Receiver already has trading access, verify Transmitter Account Number, check the symbol names on both accounts, and open the Receiver’s Experts and Journal tabs for messages from the test. See Receiver Logged In with an Investor Password in the Troubleshooting Guide for a video example.

Try the setup on two demo accounts

Download the free Local Trade Copier demo for MT4 or MT5 and run the same test. The downloadable demo works on demo accounts for four hours at a time.

Learn More About Local Trade Copier EA MT4/5©

If you need to copy and manage trades between multiple MetaTrader 4 and MetaTrader 5 accounts, you can explore the complete Local Trade Copier EA MT4/5© documentation and test the software before purchasing.

Need Help With Your Setup?

If you have questions about installation, configuration, copying between MT4 and MT5, or managing multiple receiver accounts, check our guides or contact us directly.