Install and Configure Local Trade Copier EA MT4/5© for the First Time

To install Local Trade Copier EA MT4/5©, set it up in every MT4/5 terminal that will serve as a transmitter or receiver, following the guide below from step 6. 

Installation through your MQL5 account is required; ex4/5 files copied manually won’t function for MQL5.com Market items.

Two MT4/5 terminals are essential: one for the transmitter, another for the receiver. 

It’s recommended to use the MT4/5 terminal from your broker’s website, as using another broker’s terminal may cause symbol mismatches. 

For guidance on installing a second terminal, watch the GIF below, ensuring each terminal is installed in a different folder.

To complete the setup between transmitter and receiver terminals, watch the quick setup video below. If there are suffixes (e.g., EURUSD.r or EURUSD+), view the second part of the video after 1:15 to see how to configure them.

If EURUSD.r is used for the transmitter and EURUSD+ for the receiver, enter in the receiver account settings:

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

For symbols that differ between brokers, configure the Special Symbol feature. For instance, if US500 is the transmitter’s symbol and SPX500 is the receiver’s, set:

Special Symbol 1: US500,SPX500

If you’re unable to copy, look at the Experts tab in your receiver terminal for messages or error alerts.

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

• "Trade is disabled" suggests trading isn’t active; contact your broker to enable it.

• "Unknown error" usually means your broker doesn’t allow automated trading or expert advisors, which some prop firms enforce.

If you need help, reach out to me on Anydesk. You can also connect with me on my MQL5.com profile: https://www.mql5.com/en/users/eleanna74

For complete installation instructions, refer to the guide below.

How to Buy and Install Local Trade Copier EA MT4/5©

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

1. Ensure there are enough funds in your MQL5 account; paying with your balance is often more convenient than using a credit card.

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

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

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

Note: To copy trades between MT4 and MT5, both MT4 and MT5 versions are required.

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

4. Select your payment method and hit the green Next button to continue to the payment stage. 

5. Following your payment, open your MT4/5 terminal to download and install the Local Trade Copier EA MT4/5©.

6. Make sure you’re logged in with your MQL5 username, rather than your email or other login methods. For example, my username is “eleanna74” 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 check that you’re signed in with your MQL5 account username.

8. Go to the Market tab at the bottom of your MT4 Terminal, select Purchased on the left, and click on the blue Install button beside the product you’ve bought. In MT5, navigate to the Market folder within the Navigator window, then click Purchases, and the Purchases window will open on the right, where you can install your product.

Important: If you need to use Local Trade Copier EA MT4/5© on multiple terminals, install it directly through your MQL5 account in each one. Re-run Steps 6-8 for each terminal to complete setup. Copying ex4/5 files won’t work with 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. To receive push notifications on your device, navigate to MT4/5 >> Tools >> Options >> Notifications tab and enter your mobile or tablet’s MQL5 ID. 

This unique ID is available in the MT4/5 app under Settings >> Messages or in your MQL5 profile under Profile >> Settings >> Security. 

When opting to get transaction notifications from Local Trade Copier EA MT4/5© settings, leave Notify of Trade Transactions unchecked to avoid receiving notifications twice. 

12. With notification settings complete, you’re ready to get the Local Trade Copier EA MT4/5© working. Open any MT4/5 terminal, choose a chart for any symbol and timeframe, and in the left-side Navigator window, go to Market options, locate your Expert Advisor, and drag it onto the chart or double-click to add it. 

13. The Expert Advisor settings window will open. In MT4, under the Common tab, enable both Allow live trading and Allow modification of Signals, then press OK. In MT5, select Allow modification of Signals and Allow Algo Trading options, and then click OK to finalize. 

14. For activating the Self Copier function to replicate and multiply lots in the same trading account, go to the Inputs tab in Local Trade Copier EA MT4/5© and choose Self Copier in the Account Mode setting. 

15. If you’re looking to copy trades across different accounts without multiplying on one, set Local Trade Copier EA MT4/5© to either Transmitter or Receiver in the Account Mode for each terminal. For Transmitters, leave the Transmitter Account Number empty; for Receivers, input the Transmitter account number, separating multiple Transmitters with commas (e.g., 123456,654321). 

Attach Local Trade Copier EA MT4/5© on all terminals and assign them as Transmitter or Receiver.

16. Choose your Lot Size Management setting to determine trade copying method on 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. Keeping other settings unchanged will allow Local Trade Copier EA MT4/5© to automatically close copied trades on the receiver account(s) when the transmitter account trades are closed. For a detailed overview of the Inputs, read the Settings and Inputs Guide.

18. For additional account protection, go to Emergency Trade Management, set Use Emergency Account Protection to true, and enter the Equity level at which Local Trade Copier EA MT4/5© will close all open trades and stop further copying on the receiver account to avoid further losses. Once done, adjust any remaining settings and click OK.

19. After closing the Expert Advisor's window, you’ll see a sad face (or a red indicator in MT5) at the top right of your chart, which means the EA is not yet enabled. To start it, click the Auto (Algo) Trading button, and the sad face will turn into a smile (or the red indicator to green in MT5). Now, with your Local Trade Copier EA MT4/5© active, trades from the Transmitter account(s) will be copied to the Receiver account(s) according to your setup. 

Local Trade Copier EA MT4/5© Quick Setup Video

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