Meta-Trader Account Copier

Welcome Back Forex Traders.

Let's talk a look at Meta-Trader Account Copier which is available for free download from the vendor Forex Tester Software's web site. The idea is to copy trades from one MT4 account to another.

I'm considering it as a way to overcome the fact that some experts tend to trade well in a demo account, but poorly or not at all in a live account. We know the brokers can manipulate the spread, but are they also manipulating the data feed itself to defeat EA's? Will it work? Who knows but I think its worth a try.

Anyway, the program is provided as a pair of MT experts. The Signal Provider EA is setup on the Meta-Trader that generates the signals. The Signal processor EA is setup on the Meta-Trader that executes the trades. Inputs to both EA add some nice options and are worth a look.

Signal Provider side settings:

• Destination MT4 folder that will receive the trades
• A multiplier to increase or decrease the trade size by a constant factor
• Options to remove a Prefix or Suffix from the symbol

Signal Processor side settings:

• Source MT4 folder that is sending the trades
• Price difference in pips that you are willing to tolerate between the price on the signal provider and the signal processor
• Options to add a prefix or suffix to the symbol. In my case, I had to add FXF to the symbol since the processor (FXDD) does not use the prefix, but the processor (Forex.com) does.
• An option to manually confirm trades before they are executed on the processor side
• An option to reverse orders. There's a blast from the Zulu-past.

Anyway, the plan is to setup my FXDD Megadroid demo as the provider, and setup a Forex.com signal process, also demo for now. Then i'll see how that goes and if the results are okay, I might try it live. It will be interesting to see how it turns out.

Cheers and enjoy your Saturday.