4 Best Forex Trade Copiers – Tried And Tested

When you finally reach consistency and profitability in trading, there’s a lot you can do with your trades. Whether this includes getting funded accounts, selling signals, trading for family or just having different accounts on different risk perimeters, copying your trades onto different accounts is a very handy thing to do. Manually logging into 5 different accounts, working out the lot sizes, then executing all of these trades is going to take you way too long to do, especially for intraday traders – this is where trade copiers come in.

In this article we are going to look at the best 4 forex trade copying solutions in the market, the pros, cons and my experience with these tools over the last few years. Let’s get into it…

What Is Forex Trade Copying Software?

Forex trade copying software is used to copy the trades from a Master MT4/MT5 Account, to other accounts linked to that one account. MetaTraderOpens in a new tab.

Retail Forex Traders

Some forex traders like to copy their trades onto other accounts, with different risk settings. I used to have a Master Account and the trades would be sent to a higher risk account with less capital, trading at a much higher risk per trade. This can be a great way to diversify risk and spread your portfolio more than just on the one trading account.

Funded Traders

Most of the Best Prop FirmsOpens in a new tab.

Signal Sellers

Traders selling signals and account management often use a forex trade copier to copy their trades onto the accounts of their subscribers. This has to be done extremely carefully as there can be legal implications of trading other peoples money, so please do your due diligence if you’re thinking of starting a signal service.

1. LocalTradeCopier

LocalTradeCopierOpens in a new tab.

LTC allows you to copy trades from unlimited master accounts, to unlimited client accounts on MT4. Your license can be transferred to another machine if needed, but I would highly recommend running this EA on a ForexVPSOpens in a new tab.

LocalTradeCopier has hundreds of excellent reviews across ForexPeaceArmyOpens in a new tab.

2. Forex Copier

Forex Copier 3Opens in a new tab.

Over the last 11 years they have helped copy over 5,000,000 trades across 122 countries and with over 10,000 clients! I would highly recommend setting with copier up on a dedicated VPS like ForexVPSOpens in a new tab.

3. Duplikium

DuplikiumOpens in a new tab.

The main perk of Duplikium is the fact that it works cross platform. This means you can copy trades from MT4 to other platforms like cTraderOpens in a new tab.

4. 4XSolutions

4XSolutionsOpens in a new tab.

15,000 traders are currently using 4XSolutions for their copying. It comes with a range of risk management features, stripe automatic billing, white labelling, pricing support and is built for HFTs. The pricing starts at $12 per month, so check them out nowOpens in a new tab.

Setting Up Your Forex Trade Copier

When you add multiple accounts to a trade copier, you want it to be running constantly. If the trade copier goes down or turns off when you’re managing risk on the master account, the other copier accounts may not be connected and the trades could not be updated – causing a huge issue for traders. This can be avoided by setting the trade copier up on a VPS with guaranteed up time!

I personally have used ForexVPSOpens in a new tab.

Sign up for a VPS now!Opens in a new tab.

In Summary

In conclusion, the best forex trade copier is Local Trade CopierOpens in a new tab.

If you have any experience with a MT4 trade copier then please do let me know in the comments below, I’d love to know your opinion and experiences.

Kyle Townsend

Kyle Townsend is the founder of Forex Broker Report, an experienced forex trader and an advocate for funding options for retail forex traders.

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