How to Set Up Your Local Trade Copier EA MT4/5© for the First Time

Begin by installing Local Trade Copier EA MT4/5© in each MT4/5 terminal that will act as a transmitter or receiver. 

Follow the installation steps starting from step 6. Make sure you install it via your MQL5 account—copying ex4/5 files won’t work for items bought on MQL5.com Market.

You’ll need two terminals: one as a transmitter, the other as a receiver. 

For best results, download the MT4/5 terminal from your broker’s website, as using a terminal from a different broker may lead to symbol confusion. 

To install a second terminal from the same broker, view the GIF below and choose a separate folder for each setup.

To establish the setup between transmitter and receiver terminals, follow the quick setup video below. For brokers with suffixes like EURUSD.r or EURUSD+, watch from 1:15 to learn the necessary suffix configuration steps.

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

Suffix of the Transmitter Account: .r

Suffix of the Receiver Account: +

If indices or other instruments have different symbols between brokers, apply the Special Symbol configuration. For example, with transmitter symbol US500 and receiver symbol SPX500, set:

Special Symbol 1: US500,SPX500

If you encounter issues copying, examine the Experts tab in the receiver terminal for error messages.

• "Not enough money" indicates insufficient free margin. You might need to add funds or lower the lot size.

• "Trade is disabled" means trading isn’t active on your account; contact your broker for activation.

• "Unknown error" may mean that automated trading or expert advisors are restricted by your broker, common with some prop firms.

For further help, contact me via Anydesk. You may also reach me through my MQL5.com profile: https://www.mql5.com/en/users/eleanna74

Please continue below for the full installation guide.

Guide to Purchasing and Setting Up Local Trade Copier EA MT4/5©

To buy Local Trade Copier EA MT4/5© on MQL5.com Market, you must have an MQL5 account. Register here if you don’t have one: https://www.mql5.com/en/auth_register

1. Make sure your MQL5 account has enough funds, as paying with your balance can be more convenient than using a credit card.

2. Go to the product pages 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

Important: Purchase both MT4 and MT5 versions for MT4<>MT5 trade copying.

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

4. Pick the desired payment method and click the green Next button to go forward with payment. 

5. Once the payment is processed, access your MT4/5 terminal to download and install the Local Trade Copier EA MT4/5©.

6. Confirm you’re logged into your MQL5 account with your account username, rather than your email or Facebook. For example, my login is “eleanna74,” found at the end of my profile link: https://www.mql5.com/en/users/eleanna74

7. Open MT4/5 >> Tools >> Options >> Community tab and make sure 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 side, then click on the blue Install button next to your new product. For MT5, go to the Navigator window, click on the Market folder, and select Purchases. Your Purchases window will open on the right, allowing you to install your new purchase.

Reminder: You’ll need to install Local Trade Copier EA MT4/5© through your MQL5 account in each terminal you use. Repeat Steps 6-8 for every terminal where you’ll be copying trades. MQL5.com Market items won’t work with copied ex4/5 files.

Notice: If you cannot locate your purchase under Purchased, check the following conditions:

• All available Windows updates should be installed.

• Update Internet Explorer or Microsoft Edge to the latest version.

• Verify MetaTrader 4/5 is updated to the most recent build.

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

• If your MQL5 password exceeds 10 characters, consider updating it here.

If the product is still not visible, try these actions:

• Close every MetaTrader terminal.

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

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

• Reopen MetaTrader and reinstall your purchase.

9. After installation, you may wish to configure email and push notifications to keep track of trading activity and account status.

10. Go to MT4/5 >> Tools >> Options >> Email tab to configure notifications. Here are SMTP settings for popular providers:

• SMTP server: Input your provider’s SMTP address (see list below).

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

• SMTP password: Your email account password.

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

SMTP Addresses 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 start receiving push notifications, open MT4/5, go to Tools >> Options >> Notifications tab, and input the MQL5 ID from your mobile device or tablet. 

This ID is located in the MT4/5 mobile app under Settings >> Messages, or in your MQL5 profile by navigating to Profile >> Settings >> Security. 

If you select transaction push notifications within the Local Trade Copier EA MT4/5© settings, don’t enable Notify of Trade Transactions, as this will lead to double notifications. 

12. After finalizing your notifications, it’s time to activate the Local Trade Copier EA MT4/5©. Open an MT4/5 terminal and any chart for any symbol and timeframe. In the left-side Navigator window, locate your purchased Expert Advisor in the Market options, then drag it onto the chart or double-click to add it. 

13. The Expert Advisor's settings window will display. In MT4, navigate to the Common tab and tick Allow live trading and Allow modification of Signals, then confirm with OK. In MT5, select Allow modification of Signals and Allow Algo Trading, then press OK. 

14. If you intend to use the Self Copier for multiplying trade lot sizes on the same account, click on the Inputs tab of Local Trade Copier EA MT4/5© and select Self Copier as the Account Mode setting. 

15. To copy trades across multiple trading accounts locally on a Windows machine or VPS, set the Local Trade Copier EA MT4/5© Account Mode to either Transmitter or Receiver based on each account’s role. For a Transmitter, no entry is needed in the Transmitter Account Number field, but for a Receiver, input the Transmitter’s account number, listing multiple Transmitters separated by commas, like so: 123456,654321. 

Attach Local Trade Copier EA MT4/5© to each terminal involved, selecting the role as either Transmitter or Receiver.

16. Choose your Lot Size Management setting to determine trade sizing 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. With the remaining settings left as they are, Local Trade Copier EA MT4/5© will close receiver account trades as soon as the transmitter account trades are closed. For more information, review the Inputs Guide.

18. To add a layer of protection for your receiver account(s), go to the Emergency Trade Management section, set Use Emergency Account Protection to true, and input an Equity level. When this threshold is met, Local Trade Copier EA MT4/5© will close all trades and stop copying on the receiver account. After setting this up, adjust other settings as needed and click OK.

19. After you close the Expert Advisor's window, you’ll see a sad face (or red icon in MT5) on the top right of the chart, indicating that the EA is inactive. To activate it, click on the Auto (Algo) Trading button, which will switch the sad face to a smile (or change the red icon to green in MT5). Your Local Trade Copier EA MT4/5© is now running, and trades from the Transmitter account(s) will start to be copied to Receiver account(s) per your setup. 

Local Trade Copier EA MT4/5© Quick Setup Video