Guidelines for Installing and Setting Up Local Trade Copier EA MT4/5©

When installing Local Trade Copier EA MT4/5©, ensure it is set up in all MT4/5 terminals that will serve as transmitters and receivers. Use the comprehensive setup guide below, starting from step 6. 

It’s essential to install the Local Trade Copier EA MT4/5© through your MQL5 account; ex4/5 file copies won’t work for purchases made through MQL5.com Market.

Two MT4/5 terminals are required—one to act as a transmitter and another as a receiver. 

Download the MT4/5 terminal from your broker’s official website for best results; using a terminal from another broker could lead to issues like symbol mismatches. 

To install a second terminal from the same broker on your computer or VPS, refer to the GIF below, selecting a separate destination folder for each installation.

To proceed, watch the quick setup video below to establish the connection between the transmitter and receiver terminals. If your broker’s symbols contain suffixes, like EURUSD.r or EURUSD+, watch the second part of the video at 1:15 for guidance on configuring these suffixes.

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

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

For instruments or indices with varying symbols, use the Special Symbol setup. For instance, if the transmitter symbol is US500 and the receiver symbol is SPX500, set:

Special Symbol 1: US500,SPX500

If copying fails, review the Experts tab in your receiver terminal for any messages or error alerts.

• A "not enough money" message means your account lacks free margin. Consider adding funds or reducing the lot size.

• "Trade is disabled" means trading is not active in your account; please contact your broker to resolve this.

• "Unknown error" could indicate that your broker restricts automated trading or expert advisors, which some prop firms do.

For additional help, reach out to me via Anydesk. You can also contact me on MQL5.com here: https://www.mql5.com/en/users/eleanna74

For complete setup guidance, read the full installation guide below.

Local Trade Copier EA MT4/5© Full Installation Instructions

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

1. Ensure you have enough funds in your MQL5 account; paying with your balance is often simpler than using a credit card.

2. Go to the Local Trade Copier EA MT4/5© product page on MQL5.com:

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

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

Important: Purchase both MT4 and MT5 versions to copy between MT4<>MT5 terminals.

3. Click the "Buy" or "Rent" button to proceed.

4. Pick the payment option you’d like, then click the green Next button to move forward with your purchase. 

5. After the payment is successful, you’ll need to open your MT4/5 terminal to download and install Local Trade Copier EA MT4/5©.

6. When you open the MT4/5 terminal, make sure you’re signed in with your MQL5 account username—not your email, Facebook, or any other login. For example, my username is “eleanna74” as shown at the end of my profile link: https://www.mql5.com/en/users/eleanna74

7. In the MT4/5 terminal, go to Tools >> Options >> Community tab and confirm you’re logged in with your MQL5 account username.

8. Go to the MT4 Terminal window, select the Market tab at the bottom, and then click on Purchased on the left. Next, press the blue Install button on the right side of the product you’ve just bought. For MT5, go to the Navigator window, select the Market folder, then click on Purchases. Your Purchases window will open on the right, where you can press the Install button beside the product.

Note: To use the Local Trade Copier EA MT4/5© on multiple terminals, you’ll need to complete this installation through your MQL5 account for each one. Repeat Steps 6-8 in all terminals to make the EA fully functional for copying. Copying ex4/5 files won’t work for MQL5.com Market purchases.

Notice: If you can’t find your purchase under the Purchased section, please confirm the following:

• Your Windows updates are fully installed.

• You have the latest version of Internet Explorer or Microsoft Edge on your machine or VPS.

• You’re using the most current MetaTrader 4/5 build.

• You’re logged into your MQL5 account (not using your email) in MT4/5 via Tools >> Options >> Community tab.

• Your MQL5 password is under 10 characters; if not, reset it here.

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

• Close all MetaTrader terminals.

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

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

• Reopen MetaTrader and try reinstalling your product.

9. With Local Trade Copier EA MT4/5© installed, you might want to set up email and push notifications in MT4/5 to receive updates on trades managed by the EA. You can also get daily account summaries and equity-level alerts.

10. Set up notifications by opening MT4/5 >> Tools >> Options >> Email tab, filling in the details as follows. Here are SMTP server settings for popular email providers:

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

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

• SMTP password: Your email account password.

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

Popular Email SMTP Settings: 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 notification setup, open MT4/5, navigate to Tools >> Options >> Notifications tab, and enter the MQL5 ID associated with your mobile device or tablet. This will ensure you receive real-time alerts on those devices. 

Find the MQL5 ID by going to Settings >> Messages in the MT4/5 mobile app, or check your MQL5 profile under Settings >> Security for the ID. 

When selecting transaction notifications through the Local Trade Copier EA MT4/5© settings, be sure not to check the Notify of Trade Transactions box; otherwise, you’ll receive duplicate transaction alerts. 

12. After setting up your notifications, you’re ready to start using the Local Trade Copier EA MT4/5©. Launch any MT4/5 terminal and open a chart for any symbol at any timeframe. In the Navigator window on the left, find your purchased Expert Advisor under Market, and either drag it onto the chart or double-click to activate it. 

13. The Expert Advisor settings window will appear. In MT4, go to the Common tab, check Allow live trading and Allow modification of Signals, and then click OK. For MT5, ensure both Allow modification of Signals and Allow Algo Trading are ticked before clicking OK. 

14. To utilize the Self Copier option and multiply trade lot sizes on the same account, open the Inputs tab of the Local Trade Copier EA MT4/5© and select Self Copier in the first Account Mode setting. 

15. If you’re aiming to copy trades between accounts rather than multiplying trades on a single account, select Transmitter or Receiver in the Account Mode field of Local Trade Copier EA MT4/5© for each account involved, whether on the same PC or VPS. Leave the Transmitter Account Number field empty for Transmitter accounts. For Receiver accounts, add the Transmitter’s account number in that field. If you have multiple Transmitter accounts, separate each account number by commas, such as: 123456,654321. 

Apply and configure Local Trade Copier EA MT4/5© on all terminals where trade copying is needed, assigning either a Transmitter or Receiver role to each.

16. In the Lot Size Management section, select your preferred method for copying trades to 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 you leave all other settings as they are, Local Trade Copier EA MT4/5© will automatically close trades on your receiver account(s) when the transmitter account trades are closed. Refer to the Settings/Inputs guide for more comprehensive details on each option.

18. For enhanced safety of your receiver account(s), navigate to Emergency Trade Management, enable Use Emergency Account Protection by setting it to true, and input the Equity level you wish to use as a threshold. At this point, the EA will close all trades and halt copying if that level is reached, protecting the account. Once complete, review any remaining settings and click OK.

19. After closing the Expert Advisor's settings window, you’ll see a sad face (or a red indicator in MT5) at the top right of your chart, meaning the EA isn’t yet active. Click the Auto (Algo) Trading button to enable it, and the sad face will become a smile (or the red symbol will turn green in MT5). Now, your Local Trade Copier EA MT4/5© is operational, and trades will be copied from the Transmitter to Receiver accounts based on your setup. 

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