Managing risk in forex is absolutely crucial to consistently getting great returns. One of the best ways to manage risk within the markets is to have multiple trading accounts, across different brokers all using different levels of risk. It can be a huge headache trying to log into to multiple accounts and open positions at different sizes. This is where simultaneously opening trades on multiple MT4 account comes in handy – but how can we do it?
You can open the same trades on multiple MT4 accounts by using a forex trade copier. By setting up a trade copier on a dedicated forex vps, you will be setup within a few minutes and your trades will automatically be copied from the master account to the copier accounts with the correct risk settings. Let’s find out more…
Copying Trades Onto Multiple MetaTrader 4 Accounts – Step By Step Guide
I personally had a huge amount of trouble trying to figure out how to copy trades back when I started getting profitable many years ago. There was much less information online about doing this and a lot fewer tools available. Luckily, there are now some great tools and the whole process of setting up your trade copier system can be done within minutes…
1. Setup A Forex VPS
You will most likely want to run this setup on a Forex VPS, instead of your local computer. If you’re just looking to copy trades onto one other MetaTrader account, it will be possible on your own PC. However, if you’re looking to copy to 3 or 4, or more accounts, a VPS will be needed for this. I would recommend ForexVPS, I have used them for years and had 0 issues. Setting up the VPS will only take about 5 minutes.
2. Create Multiple MetaTrader 4 Instances
You will need to have multiple MT4 versions installed on the VPS in order to trade multiple accounts simultaneously. This is very simple to setup and I have a full guide here on how to setup multiple MT4 instances in minutes. You essentially just need to go to the Program Files once you have 1 MT4 installed, then copy/paste and rename multiple other versions in the same place. Once done, follow the setup wizard to finish installation.
3. Download MT4 Copier
There are a number of different trade copying systems on the market. I would recommend using MT4 Copier, you can see my full review here but I have been a paying customer for over 3 years now and used the EA every single trading day I have traded. You will need a trade copier system to open the same trades on multiple MT4 accounts. I have a list of the best forex trade copiers here, if you’re interested. Forex Copier 4 is another great option!
4. Follow MT4 Copier Setup Wizard
The MT4 Copier has a very simple setup wizard. This is where you add your accounts and set your risk parameters ready for trades the be copied. This step is crucial so please don’t skip it – make sure you take your time setting the system up properly.
5. Test The Trade Copier
Now is time to test if the trades are being copied onto multiple MT4 accounts. This took me a few minutes to get right the first time, but I would advise just using 0.01s to ensure everything it working properly. If so, you’re all set!
The Benefits Of Opening The Same Trades On Multiple MetaTrader Accounts
There are a huge amount of benefits of being able to copy the same forex trades on multiple accounts at once. I have personally been doing this for years now. The difference it has made to my trading is crazy and I have recommended doing this to everyone I have traded with over the last few years. Let’s look at the two main benefits…
1. Taking On Additional Trading Capital
By having the ability to copy trades onto multiple accounts, you are able to take on more accounts. Not only for yourself, but you can take on large amounts of capital from forex prop firms.
For instance, FTMO offers funding of $400,000. MyForexFunds offers instant funding up to $200,000. I actually have a whole list of online forex prop firms that are funding profitable traders – so check it out.
I would recommend copying trades from your main account, onto a few copier accounts including prop firm accounts. This way, from taking the same trades you usually would do, you can drastically increase the amount of profit per trade and per month in the markets! It’s a no brainer, right?
2. Reducing Risk And Exposure
Forex brokers sometimes go bust. Not only that, when you trade with an unregulated broker your initial deposit isn’t going to be secured. This means if the broker runs into financial trouble, you have no way to get your money back as there is no governing body to help you.
However, offshore and unregulated brokers are a good option for a lot of traders that need a high amount of leverage to trade.
By opening the same trades on multiple accounts, across various brokers, you can massively reduce your risk and exposure to one broker. For instance, have 2 offshore brokers and 1 regulated broker on your trade copier means you’re able to third your risk and exposure.
Other Ways To Copy Trades Onto Multiple MT4 Accounts
There is more than one way to copy trades from one account onto multiple other MT4 accounts. Over the last 3 years, MT4 Copier is the best tool I have used. I really can’t fault it. However, if you’re looking to explore other options, let’s take a look at some alternate methods in the market…
1. Other Trade Copier Systems
There are a few very popular trade copier systems in the industry. I have actually got a list of the top forex trade copiers here, so it may be worth checking out if you’re looking at your options. Although MT4 Copier works locally, some trade copiers are completely remote. For instance, Social Trader Tools has a cloud based system. Although I’m not a fan of cloud based copiers, this may be a better option for some traders as it won’t require you to get a forex vps.
2. PAMM Accounts
Some brokers offer something called PAMM accounts. This is essentially where you can manage other traders funds or accounts. If you’re looking to copy trades onto other traders accounts, this could be a great option. I have to preface that if you’re trading other traders capital, you must be licensed so please bare that in mind.
Day Trading has published a list of the best brokers offering PAMM accounts here.
3. Copy Trading
There are a few brokers and companies that specialise in copy trading. For instance, eToro is specialised in trade copying and might be a valid option depending on why you’re looking to open the same trades on multiple accounts. If you’re trying to trade just your own accounts however, this option is going to be fairly useless and I would still advise using a trade copier.
In Conclusion – How Can I Open The Same Trades On Multiple MT4 Accounts Simultaneously?
In summary, it’s very simple to open the same trades on multiple MetaTrader accounts simultaneously. This can be done by setting up a trade copier system, on a forex vps. Once setup, the trade copier will automatically replicate your trades onto other accounts.
If you have any experience opening trades on multiple forex accounts at once, please do let me know in the comments down below – I’m interested to hear about how you navigated this process.