Installing Local Trade Copier EA MT4/5© for the First Time

Begin by installing your Local Trade Copier EA MT4/5© in all MT4/5 terminals intended as transmitters and receivers, following the complete installation guide below from step 6. 

For MQL5.com Market purchases, ensure installation through your MQL5 account in each MT4/5 terminal—copied ex4/5 files won’t function.

To proceed, you’ll need two terminals: one for the transmitter account and another for the receiver. 

Downloading the MT4/5 terminal directly from your broker’s website is highly recommended for accuracy. Using an MT4/5 terminal from a different broker might cause symbols to mismatch. 

If you’re unsure about installing a second MT4/5 terminal of the same broker on your system, please watch the GIF below, ensuring each terminal has a unique folder path.

To set up the connection between the transmitter and receiver terminals, follow the quick setup video below. For brokers using symbol suffixes (e.g., EURUSD.r or EURUSD+), refer to the second part of the video (at 1:15) to configure them.

For example, if your transmitter account has EURUSD.r and the receiver has EURUSD+, enter these suffixes in the receiver’s settings:

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

If symbols for indices or other instruments differ across brokers, use the Special Symbol setup. For instance, for a transmitter symbol US500 and a receiver symbol SPX500, enter:

Special Symbol 1: US500,SPX500

If copying isn’t successful, check the Experts tab on your receiver terminal for error messages.

• "Not enough money" means there isn’t sufficient free margin in your account. Add funds or reduce the lot size.

• If "trade is disabled," trading is likely turned off for your account; reach out to your broker to enable it.

• "Unknown error" suggests your broker may block automated trading or expert advisors, which some prop firms enforce.

For any setup assistance, you can contact me through Anydesk. Alternatively, reach out to me via my MQL5.com profile: https://www.mql5.com/en/users/eleanna74

The full installation guide is available below.

How to Install Local Trade Copier EA MT4/5©

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

1. First, ensure your MQL5 account has sufficient funds. Paying with your MQL5 balance is typically more convenient than using a credit card.

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

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

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

Note: You need both the MT4 and MT5 versions if copying between MT4 and MT5 terminals.

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

4. Select the payment method you want, then click on the green Next button to proceed with your payment. 

5. Once the payment is finalized, open your MT4/5 terminal to proceed with downloading and installing Local Trade Copier EA MT4/5©.

6. Make sure you log in to your MQL5 account using your username rather than email or social media accounts. For example, my username is “eleanna74,” visible at the end of my profile link: https://www.mql5.com/en/users/eleanna74

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

8. In the MT4 Terminal, click the Market tab at the bottom, choose Purchased on the left, and select the blue Install button to the right of the purchased product. For MT5, go to the Navigator window, select the Market folder, and click on Purchases. The Purchases window will open on the right, showing all your purchases, where you can click Install for the product you just bought.

Note: You must install Local Trade Copier EA MT4/5© in each terminal through your MQL5 account if you plan to use it on multiple terminals. Repeat Steps 6-8 to ensure it’s available on all terminals. Simply copying ex4/5 files won’t work for MQL5 Market purchases.

Notice: If your recent purchase isn’t showing in the Purchased section, confirm the following:

• Ensure all Windows updates are installed.

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

• Your MetaTrader 4/5 is updated to the newest version.

• Log into your MQL5 account in MT4/5 through Tools >> Options >> Community, using your login name (not your email).

• Check that your MQL5 account password is less than 10 characters; if not, reset it here.

If the purchase still doesn’t appear, try these troubleshooting 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 MetaTrader and try installing the product once more.

9. After installing Local Trade Copier EA MT4/5©, you may wish to enable email and push notifications in your MT4/5 terminal. This allows you to receive trade and account updates and emergency equity alerts.

10. To set up email alerts, open MT4/5 >> Tools >> Options >> Email tab, and fill in the fields as shown below. Common email providers’ SMTP settings are listed for convenience:

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

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

• SMTP password: Your email password.

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

Popular SMTP 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

11. To enable push notifications, access MT4/5, then select Tools >> Options >> Notifications tab and enter your MQL5 ID for the mobile device or tablet where you want to receive alerts. 

You’ll find this ID in your MT4/5 app under Settings >> Messages, or alternatively, under Settings >> Security in your MQL5 account profile. 

Choose your transaction notifications through the Local Trade Copier EA MT4/5© settings only, and leave Notify of Trade Transactions unchecked to prevent duplicate alerts. 

12. With notifications set up, you’re ready to activate your Local Trade Copier EA MT4/5©. Launch an MT4/5 terminal and select any chart for any symbol and timeframe. In the Navigator window on the left, go to Market options, find your Expert Advisor, and drag it onto the chart (or double-click it). 

13. When the Expert Advisor settings window opens, in MT4, go to the Common tab, select Allow live trading and Allow modification of Signals, and click OK. In MT5, enable Allow modification of Signals and Allow Algo Trading before pressing OK. 

14. If you're planning to apply the Self Copier to scale up lot sizes within the same trading account, access the Inputs tab of Local Trade Copier EA MT4/5© and set the Account Mode to: Self Copier. 

15. To copy trades between accounts across local MT4/5 terminals on a Windows computer or VPS, set Local Trade Copier EA MT4/5© to Transmitter or Receiver mode in the Account Mode field. Transmitters don’t need input in the Transmitter Account Number field, but Receiver accounts require the Transmitter’s account number, with multiple Transmitter accounts separated by commas, such as: 123456,654321. 

Attach Local Trade Copier EA MT4/5© to each terminal you want to copy trades from or to, designating the terminal’s role as either Transmitter or Receiver.

16. In Lot Size Management, select how you’d like trades to be copied 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. Leaving other settings as-is will cause trades on the receiver account(s), copied by Local Trade Copier EA MT4/5©, to close automatically as soon as the corresponding trades on the transmitter account(s) are closed. Check the Inputs Guide for more details on all available options.

18. For extra security, go to the Emergency Trade Management section, enable Use Emergency Account Protection, and enter the Equity level you prefer. At this point, Local Trade Copier EA MT4/5© will close all receiver trades and disable copying if this threshold is met, offering protection from further losses. When ready, adjust other settings as needed and click OK.

19. Upon closing the Expert Advisor's window, a sad face (or red icon in MT5) may appear on the upper-right of the chart, which means that the EA isn’t active yet. Click the Auto (Algo) Trading button to activate it, and the sad face will become a smile (or the red icon will change to green in MT5). Now, your Local Trade Copier EA MT4/5© is active, and trades from Transmitter accounts will start copying over to Receiver accounts in line with your settings. 

Local Trade Copier EA MT4/5© Quick Setup Video

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