The Local Trade Copier is a compact EA designed to facilitate the automatic copying of forex trades from a single MT4 account to multiple other accounts. This feature enables the management of numerous positions across various accounts directly from a master account, eliminating the need to log into individual copier accounts.
The product originates from Rimantas Petrauskas, a highly recognized individual within the online forex trading community. If you’ve been active for some time in forums such as BabyPips or Forex Peace Army, you’ve likely come across his name, given his track record of developing several groundbreaking products.
It is important to consider that the Local Trade Copier has undergone extensive testing and has been utilized by ourselves and thousands of traders worldwide over the past few years. It empowers traders to manage funds for family members, handle proprietary trading firm capital, reduce portfolio risk, and even begin selling their trades.
Programs & Pricing
In terms of cost-effectiveness, Local Trade Copier stands out as an exceptional choice. The service offers two payment options: monthly or annually. Opting for the annual subscription allows for savings compared to a month-to-month payment arrangement. There are three different programs, the Personal, Manager, and VIP plans, which you can choose depending on your personal needs.
Monthly Program Pricing
Yearly Program Pricing
Features
Local Trade Copier offers a diverse array of exceptionally useful features designed to enhance your trading experience. Let’s explore these features in detail to understand how they can optimize your trading strategies.
Execute trades across numerous trading accounts simultaneously
The trade copier operates by effortlessly duplicating your trades from one trading account to multiple other accounts. This can be executed across different brokers, base currencies, and account sizes. Once configured, which typically takes approximately 5 minutes, you can concurrently trade across multiple accounts until you deactivate the trade copier, rendering it entirely passive and self-sustaining.
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.
No extra software requirements
One notable advantage of this tool is its independence from additional software or external programs for operation. The EA is exceptionally lightweight, consuming minimal CPU and memory resources. To run the EA, all you require is a MetaTrader 4 setup and another MT4 instance downloaded on the computer for each account you wish to include. It is advisable to run this tool with Forex VPS to prevent inadvertent closure of MT4 applications while working.
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, Local Trade Copier stands out as one of the top, if not the premier tool available for replicating forex trades from one account to multiple others. Many traders personally rely on this tool for extensive time periods, and it has significantly improved their trading endeavors during this time. Compared to other trade copiers, it undoubtedly offers the best combination of features, ease of setup, and affordability.
Rimantas has developed an exceptional, lightweight, and swift tool that effectively manages risk, handles client funds, and significantly scales up trading capital. It’s no surprise that the tool has garnered such outstanding reviews. It is suggested for traders to utilize this tool if they are in need of a copy trading software.
