Local Trade Copier Review
Local Trade Copier is a Forex trade copier service which uses special software for MetaTrader 4 platform which helps retail Forex traders and account managers duplicate trading positions between multiple accounts running on the same computer/VPS so they won’t need to repeat the same trade operations on each MT4 platform individually.
This means now you can trade on multiple MetaTrader 4 accounts simultaneously, mirror the trades of any trading bot to your friends and family accounts (even if it is locked to your MT4 account number), create investment portfolios of many MT4 accounts, remove risk of unregulated Forex brokers, turn losing trading strategy into a winner and become an independent account manager immediately without the need to sign any contracts or opening expensive PAMM accounts with the broker.
Trade Copier vs. Forex Trade Copier Service
We need to make the difference between what a trade copier is and what it’s not. The confusion around this subject is widespread among traders because it’s quite easy for trade copier software to be mistaken with a signal service use for social trading where trades are executed on client’s accounts automatically.
Two Categories of Forex Trade Copiers Services
– Trade copier used by traders who want to copy trades across multiple trading platforms. With this type of software, you can duplicate your trades across multiple trading platforms and share your trades with friends, family and even clients. Basically, the main function is to copy trades from one MT4 account to another MT4 account.
– Trade copier used for trading signal services or simply put it mirror trading. This is the concept of receiving trades via trade copier software directly to your MT4 account. You need to pay a subscription fee to a Forex signal service provider if you want to mirror trading.
Why Traders Use Forex Trade Copier Services?
Online trading in the Forex market has grown up in popularity in the last couple of years and many traders have chosen to spread their money through multiple trading accounts. This makes perfect sense because putting all your eggs in one basket is not such a smart financial decision when it comes down to the safety of your money.
However, having your money spread across multiple trading accounts comes with its own challenges. One of the biggest challenges is the daunting task of managing the trades across multiple platforms which can lead to even losing money especially if you’re a manual trader.
What if you could copy trades simultaneously on multiple accounts so that trades taken on an account A are placed on an account B or C and D or as many as you like instantly at the same time?
Features of Local Trade Copier Services
Copy success of other traders: If you’ve met a friend who’s trading successfully, ask for an MT4 investor password (read-only access) and mirror his trading to your account.
Start copying trades in 5 minutes: Local Trade Copier is designed in such a way that you can start using it immediately without learning all its 100+ configuration options.
Auto Scaling (different account size support): This trade copier will handle different account sizes automatically and scale position size up or down accordingly. Other risk options available for all traders too.
Compatible with other Forex Robots: You can use this account copier with any other trading robot. Just make sure you attach each MT4 EA to a separate chart.
More than 100+ configuration options: LTC is the most configurable app of its kind in industry with more than 100+ options, but it is truly easy to operate it. Imagine yourself inside the car with hundreds of buttons. You might never know what each of those buttons do, but this does not stop you from driving the car.
The same is with this MT4 trade copier software. It has so many options, but you only need to know few to start using it and duplicate trades between MT4 accounts.
MetaTrader 4 friendly: Unlike some other trade copy tools, LTC does not violate any MetaQuotes policies and is completely safe to use for everyone.
FIFO friendly: My account copier is designed to obey FIFO restrictions even if you are copying non-FIFO strategy to an account with FIFO limitations. Hedge trades will be delayed if opposite order is present and SL/TP will be applied as per FIFO requirements.
VPS compatible: You can use LTC in Virtual Private Server (VPS/VPN). This is actually recommended, because it allows you to have MT4 platforms running 24 hours a day without running your computer all the time.
Merge multiple accounts: The same MT4 account can receive trades and then forward them to other MT4 platforms on the same machine. This allows you to merge multiple MT4 accounts into one or simply have different groups of receiver accounts.
Fast trade duplication: Your trades will be copied in 1 second or less under normal conditions. LTC also allows you to control its synchronization rate to speed up or slow down trade mirroring process.
Does not leave orphan trades: LTC uses Smart Trade Identification technology to keep the connection between positions on server and client accounts. When trade ticket numbers change after partial close, “close by” operations or when pending orders get triggered the connection remains. LTC never leaves orphan trades.
3rd party trades allowed: LTC is designed to not interfere in any other positions running on your account. This means you are allowed to open trades manually or automatically while trade copier is working.
Replicates All Order Types: LTC will replicate any order type: BUY, SELL, pending STOP, pending LIMIT, take profit (profit target) and stop loss.
Works with Forex and non-Forex instruments: You can copy not only currency transactions, but also CFD, Indices, Metals and any other instruments that are available on your MetaTrader 4 accounts.
Try Local Forex Trade Copier For 30 Days Risk-FREE