In this post I will be reviewing Forex Copier which allows you to duplicate and copy trades between MetaTrader 4 (MT4) and MetaTrader 5 (MT45) accounts. It is hard these days to find a reliable trade copier, but the Forex Copier software is the one of the most well-known and simple to use. Of course, it is important that the forex trade copier that you use is reliable so that trades get copied as fast as possible at the correct prices. Any delays could have a huge impact on the performance of a trading strategy. You could see completely different trades between the sending and receiving account if there is substantial lag in the prices. Thus, it is very important to use a reliable copy trading software if you are planning on sending trading signals to other accounts.
In this Forex CopierReview, I will be taking a closer look at this forex trading tool to see exactly what it is and how it works. Hopefully, this will help you to make a decision if it is something that you would like to implement as part of your trading strategy.
Forex Copier Features
The main feature of the Forex Copier is of course to copy trades between MetaTrader trading accounts / platforms. You may be running an automated or manual forex trading strategy on one broker account that you want to duplicate to another, this is what Forex Copier will allow you to do with relative ease and reliability. It may be that you have a trading account at another broker or that your friends / family want your trades duplicated for them. Whatever your trade copying needs are, Forex Copier is the software that can help you achieve them. Forex Copier has many powerful features and gives you almost complete freedom of transforming signals. Customize copying settings, adjust money management, filter trades you want to copy and much more!
The latest Forex Copier features include:
- Copy trades from MT4 to MT5 terminals and vice versa
- Fast signals – only 0.6 sec to reach the client
- Trades and Total connection time analytics
- Multiple settings at the Receivers’ side to adjust trades according to their needs
- Renewed design
- Any broker support
- Any account type support
- Simple to install and use
- Custom lot/risk management
- Filtering orders
- Adjusting copied orders by user’s criteria
- Reverse Copying
- Lifetime license, no monthly/yearly payments
- Lifetime support
- Multiple Source support
- Multiple Receiver support
- Copying via Internet (in Forex Remote Copier)
- Many other features
Forex Copier is a possible solution for individual forex traders or forex account managers who need to execute trade signals from external sources or would like to manage several MetaTrader accounts all at the same time. They make everything easy to setup and manage. You can easily add or remove accounts at anytime.
If you have a source of Forex signals and want to execute these signals on your platform, you want to send signals to your clients, or you just want to manage several accounts, then Forex Copier is a possible solution. You can even use it to reverse copy bad signals. It can be difficult to simultaneously manage multiple accounts but the Forex Copier software makes everything a breeze from start to finish.
How does Forex Copier work?
In the most basic form, Forex Copier enables you to imitate the trading strategy from one account and apply to your live account. Once you have selected the trading account you intend to copy, all you need to do is set the parameters of the trade. Afterwards, all trades will be executed automatically.
The Forex Copier software is an expert advisor (EA) that you load onto your MetaTrader platforms and ammend the settings acording to the accounts that you wish to send and receive signals from. You don’t need to spend hours figuring out how to setup the EA in MT4 or MT5 as Forex Copier can be installed less than in 1 minute, with an easy to follow instructionsla video and guide provided by the developers.
Forex Copier Settings
Forex Copier gives you almost complete freedom of transforming signals. You can customize copying settings, adjust money management, filter trades you want to copy and much more. You can trade from one account, while the software will copy your orders to other terminals automatically. If accounts are with the same broker, you can install several terminals for this broker and log in to different accounts on each terminal. You can also:
- Automatically adjust position size according to account size / leverage
- Set custom lot multipliers for different currencies
- Filter trades with an extensive set of easy-to-configure rules
- Apply clever risk management techniques
- See detailed copying statistics
Forex Copier Summary
Overall, I am really impressed with the Forex Copier software and think it that if you are looking for a forex trade copier for the MetaTrader trading platforms, then this may be worth consideration. You can use it to copy your own trading signals. If your business skills are better than your trading ones, you can benefit from Forex Copier in another way, by reselling the signals of experienced traders. It is the all in one copy trading solution. One of the main advantages is that you do not need to use a copy trading broker such as eToro, which means that you can save on broker fees. Of course, you will still need to pay your own broker, but there are many MetaTrader forex brokers that you can choose from.
Forex Copier has many features and is easy to use. It comes with detailed instruction guides, full support, updates and a money back guarantee. However, this is not a set and forget trading system and will require some time to setup and configure correctly. You also need to keep in mind that the MetaTrader platforms will need to be running in order to receive the signals, something that is not always required when using a social trading broker. If you can see past these limitations, then please feel free to visit the Trade Copier website by using the link below.
- MetaTrader 4 and MetaTrader 5 platforms
- Simple Trade Copier
- Multiple Accounts
- Duplicate Trades
- Copy Signal
- Copy Systems
- Copy Forex Robots
- Manage Forex Accounts
- Reverse Trades
- Full Support
- Quite Complex To Setup
- Requires User Input
- Might See Trade Delays
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.