Forex Copier is a trade copier software solution that provides you with an opportunity to copy trades from a master account to multiple slave accounts. This copying software allows you to open positions, manage them, and close across a range of different brokers, prop firms, and trading accounts simultaneously while only managing your master trading account.
It is essential to consider that the Trade Copier has undergone extensive development and testing while being utilized by our team and a wide range of traders all across the globe. It provides traders an opportunity to manage funds, reduce portfolio risk, manage proprietary trading firm trading accounts, and sell signals.
Programs & Pricing
When comparing the pricing of the Forex Copier programs, it remains extremely competitive while being a more affordable option. It is essential to note that the price of $199 for a Forex Copier is lifetime and not subscription-based, meaning that the license doesn’t expire. Remembering that the potential earnings come from using Forex Copier over a longer period of multiple months or even years, the cost can be considered minimal and extremely affordable.
Features
Forex Copier offers a wide range of extremely useful features that are designed to assist you while trading. Let’s take a closer look at these features to understand how they can improve your trading experience.
Automated problem-solving feature
Pairing a trade copier with multiple brokers, prop firms, and trading accounts occasionally results in unwanted errors, such as missing trades or mismanaging positions. To prevent this issue, Forex Copier will provide you with information when there is an issue with one of the accounts by highlighting the account in red. After this occurs, the trade copier will automatically provide you with a ”fix” button, which will sort the issue out for you. The problem-solving feature is quite rare but very much essential, especially if you are someone who is managing 10 or even more trading accounts.
Supervise risk across a portfolio of accounts
By utilizing this service, you can effectively manage risk across multiple accounts simultaneously, as you have the capability to predefine the risk parameters for the client or slave accounts. Your portfolio could be divided as follows:
- Master Account – 2% risk per position
- Slave Account 1 – 4% risk per position
- Slave Account 2 – 1.5% risk per position
Having the option to specify the level of risk you wish to assume per trade on individual accounts provides a high degree of flexibility, enabling you to seize opportunities in higher-risk trading scenarios without jeopardizing your primary capital.
Copying between MetaTrader 4, MetaTrader 5, and cTrader platforms
A crucial feature is MetaTrader 4, MetaTrader 5, and cTrader trading platform compatibility, allowing traders to copy their trades to MT4 accounts from MT5 or cTrader accounts or vice versa. A majority of trade copier services allow you to trade from MT4 to MT4, which can be quite problematic if someone is using MT5 or cTrader. Due to the popularity of MetaTrader 5 and cTrader and the fact that a vast majority of individuals are moving to those two trading platforms, it is essential that this feature is available.
Diversify risk among different brokers
As a forex trader, it’s crucial to avoid overexposure to a single broker. While regulated brokers typically offer greater security against insolvency, offshore brokers pose a higher risk of sudden closure. Relying solely on one brokerage account can be extremely risky. However, utilizing a trade copier allows you to distribute your capital across multiple brokers. For instance, you could allocate funds to a primary account with BlackBull Markets, a slave account with Purple Trading, and another slave account with XM, thereby evenly spreading your risk.
Manage multiple accounts within proprietary trading firms
The best feature is allowing traders to scale their prop firm funding by copying trades to multiple accounts at the same time. By using some of the Best Prop Firms, you’re able to take on huge amounts of trading capital relatively fast. Your trading portfolio could look something like this:
- Main account trading 2% risk with BlackBull Markets
- FundedNext Two-step Stellar Challenge $200k account size
- The Funded Trader Royal Challenge $50k account size
- Funding Pips Evaluation Program $100k account size
Why Is Using a Trade Copier Beneficial for Forex Trading?
A trade copier is essentially a software tool employed to duplicate trades across numerous trading accounts. It stands out as the most convenient and effective method for simultaneously managing multiple trading accounts, allowing for the execution of identical trades across various trading platforms.
What are the benefits of using a Trade Copier?
- You can connect numerous trading accounts of different Brokers.
- You can connect numerous Proprietary Trading Firm trading accounts.
- You can manage and customize risk between numerous trading accounts.
As stated above, incorporating a Trade Copier into your trading activity can provide a wide range of advantages. For example, when pairing them with multiple trading accounts, you can strengthen the benefits they offer to an even larger extent.
| Trading Account | Account Size | Account Type |
|---|---|---|
| Prop Firm Account | $200,000 Account | Master Account |
| Broker Account | €12,000 Account | Slave Account |
| Prop Firm Account | $50,000 Account | Slave Account |
| Prop Firm Account | $100,000 Account | Slave Account |
| Broker Account | $7,000 Account | Slave Account |
| Trading Account | Account Size | Risk per Position |
|---|---|---|
| Prop Firm (FundedNext) | $200,000 Evaluation Account | 0.4% per trade ($800) |
| Broker (BlackBull Markets) | €12,000 Account | 1% per trade (€120) |
| Prop Firm (The Funded Trader) | $50,000 Funded Account | 0.2% per trade ($100) |
| Prop Firm (Funding Pips) | $100,000 Funded Account | 0.35% per trade ($350) |
| Broker (XM) | $7,000 Account | 1.5% per trade ($105) |
Additionally, with the utilization of a VPS server, such as Forex VPS, you guarantee yourself a consistently low latency and a robust connection, thereby ensuring uninterrupted operation of your Trade Copier around the clock. When seamlessly integrated into your network of trading accounts linked by a Trade Copier, this integration can yield significant enhancements in your trading results. This is primarily due to the elimination of manual trade execution across all your accounts. Instead, you simply execute the trade on your Master account, and the Trade Copier autonomously duplicates it across all the connected Slave accounts. By adopting this methodology and configuring specific risk parameters for each linked trading account, you can optimize your risk management for every position, irrespective of the current balance available in any of your trading accounts.
Conclusion
In conclusion, Forex Copier is considered one of the top trade copier choices within the industry. It allows you to replicate trades from a master account to multiple slave accounts between the following three trading platforms: MetaTrader 4, MetaTrader 5, and cTrader.
The Forex Copier software is very easy to use, and it can be tested for free. You can check it out by requesting the demo version and seeing it for yourself before deciding actually to purchase it.
