Local Trade Copier EA MT4/5© Installation Guide

This guide explains how to purchase, install and configure Local Trade Copier EA MT4/5© on multiple MetaTrader 4 and MetaTrader 5 terminals for transmitter and receiver trade copying. 

Setting Up Your Local Trade Copier EA MT4/5© for the First Time

To get started with Local Trade Copier EA MT4/5©, install it in each MT4/5 terminal you intend to use as either a transmitter or a receiver, using the detailed installation steps provided below, starting from step 6. 

Remember, you must install the Local Trade Copier EA MT4/5© through your MQL5 account in every MT4/5 terminal; simply copying the ex4/5 files won’t work for purchases made through MQL5.com Market.

You'll need two MT4/5 terminals installed: one for the transmitter account and one for the receiver. 

It’s best to download the MT4/5 terminal directly from your broker’s site and log in to your trading account using that version. Using a terminal from another broker might cause symbol mismatches or other technical issues! 

If you’re unsure how to install a second MT4/5 terminal from the same broker on your computer or VPS, please watch the GIF image below. Choose a different destination folder when installing additional MT4/5 terminals.

Next, you’ll need to configure the connection between the transmitter and receiver terminals by following the steps in the quick setup video below. If any of your brokers use symbol suffixes, such as EURUSD.r or EURUSD+, refer to the second part of the video (starting at 1:15) for guidance on suffix setup.

For instance, if your transmitter’s EURUSD symbol includes “.r” and the receiver’s symbol has “+,” enter these suffixes in the receiver’s settings:

Suffix of the Transmitter Account: .r 

Suffix of the Receiver Account: + 

If you are copying between accounts with the same broker, and both transmitter and receiver accounts have a symbol like EURUSDm, you still need to configure the suffix settings:

Suffix of the Transmitter Account: m

Suffix of the Receiver Account: m

For indices or instruments with differing symbols across brokers, use the Special Symbol setup. For example, if the transmitter symbol is US500 and the receiver symbol is SPX500, enter the following:

Special Symbol 1: US500,SPX500

If copying is unsuccessful, check the Experts tab in your receiver terminal for any error messages.

• If you see a "not enough money" message, it indicates insufficient free margin in your receiver account. Consider adding funds or reducing the lot size.

• If the message says "trade is disabled," it means trading isn’t enabled in your account, so contact your broker to enable it.

• An “unknown error” can have several causes, including broker or account restrictions. Check whether automated trading and Expert Advisors are permitted on the account, and review the Experts and Journal tabs for additional information. 

If you encounter any issues, please reach out to me via Anydesk for assistance. You can also contact me on MQL5.com through my profile: https://www.mql5.com/en/users/eleanna74

For complete installation instructions, please continue reading below.

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

To purchase the Local Trade Copier EA MT4/5© from the MQL5.com Market, you need an MQL5 community account. If you don’t already have one, register here: https://www.mql5.com/en/auth_register

1. Ensure your MQL5 account has the necessary funds, as paying directly with your MQL5 balance is often simpler than using a credit card.

2. Locate Local Trade Copier EA MT4/5© on the MQL5.com website and open its product page:

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

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

Note: To copy between MT4 and MT5 terminals, you’ll need to purchase both MT4 and MT5 versions.

3. Click "Buy" or "Rent" to proceed with your purchase. 

4. Select your preferred payment method and click the green Next button to proceed with payment. 

5. Once your payment is completed, open your MT4/5 terminal to download and install your Local Trade Copier EA MT4/5©.

6. When launching your MT4/5 terminal, ensure you are logged into your MQL5 account using your MQL5 account username, not your email, Facebook, or any other login method. For instance, my login is the last part of my profile URL: eleanna74, from https://www.mql5.com/en/users/eleanna74

7. Go to MT4/5 >> Tools >> Options >> Community tab, and verify that you’re logged in with your MQL5 username.

8. In your MT4 Terminal window, go to the Market tab at the bottom, click on Purchased on the left side, and then select the blue Install button next to the product you’ve just bought. For MT5, go to the Navigator window, click on the Market folder, and then select Purchases. A Purchases window will appear on the right side with all of your purchases, where you can click Install for the product you’ve just purchased.

Note: You’ll need to repeat this installation process via your MQL5 account in all terminals where you wish to use the Local Trade Copier EA MT4/5©. Repeat Steps 6-8 to ensure your Local Trade Copier EA MT4/5© is installed and ready for use across all terminals. Copying ex4/5 files will not work with MQL5.com Market purchases.

Notice: If you don’t see your purchase under the Purchased option, check for the following issues:

• Ensure that all recent Windows updates are installed.

• Confirm you have the latest version of Internet Explorer or Microsoft Edge on your computer or VPS.

• Verify you’re using the latest build of MetaTrader 4/5.

• Make sure you’re logged into your MQL5 account in MT4/5 under Tools >> Options >> Community tab using your account login (not your email).

• Check that your MQL5 account password has fewer than 10 characters; if it’s 10 or more, change it here.

If you still don’t see the product listed in your purchases, try these steps:

• Close ALL MetaTrader terminals.

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

• Delete all files starting with mql4.market. or mql5.market..**

• Reopen the MetaTrader terminal and attempt to install your product again.

9. Once your Local Trade Copier EA MT4/5© is installed, consider setting up email and push notifications in your MT4/5 terminal. This setup lets you receive updates on copied or multiplied trades handled by the EA, along with daily account details such as balance, equity, and margin. You’ll also get alerts if your equity falls below a specified emergency level.

10. To set up email notifications, go to MT4/5 >> Tools >> Options >> Email tab, and fill in your email and server details. Here are the fields you need to complete, with example settings from popular email providers:

• 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 configure push notifications, go to MT4/5 >> Tools >> Options >> Notifications tab, and enter the MQL5 ID of your mobile device or tablet. This enables notifications directly to your devices. You’ll find your MQL5 ID within the MT4/5 mobile app under Settings >> Messages. 

Alternatively, you can locate your MQL5 IDs in your MQL5 profile under Profile >> Settings >> Security. 

If you decide to get transaction notifications directly from the Local Trade Copier EA MT4/5© settings, avoid ticking the Notify of Trade Transactions option to prevent duplicate notifications. 

12. Once your notification settings are configured, it’s time to activate your Local Trade Copier EA MT4/5©. Open any MT4/5 terminal and load any chart of any symbol at any timeframe. In the Navigator window on the left, locate your purchased Expert Advisor under Market options, then drag it onto the chart (or double-click to add it).

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, then click OK. In the MT5 terminal, enable the Allow modification of Signals and Allow Algo Trading options, and confirm by clicking OK. 

14. If you plan to use the Self Copier feature to increase the lot size of trades on the same account, go to the Inputs tab of the Local Trade Copier EA MT4/5©. In the Account Mode setting, select: Self Copier. 

15. If you’d prefer not to multiply trades on the same account but rather to copy trades across multiple accounts between local MT4/5 terminals (on the same Windows PC or VPS), select either Transmitter or Receiver as the Account Mode for the account where you’ve installed Local Trade Copier EA MT4/5. If this account will be the Transmitter, leave the Transmitter Account Number field empty. For a Receiver account, fill in the Transmitter Account Number. For multiple Transmitter accounts, list each account number in the Receiver’s settings, separated by commas, like this: 123456,654321. 

Attach and configure Local Trade Copier EA MT4/5© on each MT4/5 terminal, assigning it as either a Transmitter or Receiver.

16. Choose the desired method for Lot Size Management to determine how 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 keeping the other settings unchanged, your copied trades, opened by Local Trade Copier EA MT4/5© on the receiver account(s), will close automatically when the original trades on the transmitter account(s) close. For detailed explanations of the EA’s Inputs/Settings, consult the Inputs/Settings guide.

18. To maximize protection for your receiver account(s), go to the Emergency Trade Management section, set Use Emergency Account Protection to true, and specify the Equity level at which Local Trade Copier EA MT4/5© will close all trades and stop further copying on the receiver account, helping to prevent additional losses. Adjust any other settings as desired, then click OK.

19. Once you close the Expert Advisor's window, a sad face (or a red icon in MT5) will appear in the top right corner of your chart, indicating that the EA isn’t active yet. To enable it, click the Auto (Algo) Trading button, and the sad face will turn into a smile (or the red icon will turn green in MT5). Your Local Trade Copier EA MT4/5© is now functioning, and trades from the Transmitter account(s) will be copied to the Receiver account(s) as per your configurations. 

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. 

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.