MT5 Trade Copier Setup Guide for Beginners

In the fast-paced world of trading today, automation has become the solution for trading with efficiency and eliminating errors. One of the most popular automation tools that traders utilize is Trade Copier Software. The Trade Copier software allows you to easily copy trades designated from the master account to your client account(s). Using a trade copier makes the entire experience easier, especially if you are overseeing multiple trading accounts or following a professional trader.

Of the most trusted options available is the effective trade copier app provided by Combiz. The app provides a solution designed to automate and simplify your trading. Here's a look at how the trade copier works and how you can set it up on MT5.

What is Trade Copier Software?

Trade Copier Software is an alternate term for the automation tool used which executes a duplicate of trades from one trading account (the master account), to another connected or client account. Trade Copier Software runs on an Expert Advisor (EA) and works through communication between accounts. Then, when the master executes a trade, the same trade is automatically executed and copied to all of the other connected accounts, saving time and effort when trading through multiple profiles, while at the same time keeping consistency in execution.

The trade copier can be utilized for local copying (on the same computer), as well as remote copying (between differing systems on a Virtual Private Server). This is especially useful for professional traders, fund managers, and investors who trade multiple MT5 accounts at the same time.

Advantages of Using Trade Copier Software

Automation and Rapid Execution:

The software allows any trades made on the master account to be automatically replicated on client accounts without any manual execution.

Accuracy: It removes the risk of human error in any trade entry, lot size or timing, replicating each trade precisely.
Flexibility: With the combiz trade copier software and most others, you can adjust settings such as lot size multipliers, slippage, and trade filters customized to your trading style or strategy.
Scalability: The software allows you to efficiently manage multiple client accounts. The trade copier is suited for signal providers or professional fund managers.
24/7 Operation: Combined with the VPS, when you turn your computer of, the copier software will still run 24/7.

Setting Up a Trade Copier App on MT5

Following are the steps to get your copy trading set up in your trade copier app like Combiz:

Step 1: Install Multiple MT5 Terminals

If you are copying trades on the same device across accounts, then install multiple MT5 platforms in separate folders. Each terminal would represent an account: one would be a master and the others would be clients.

Step 2: Install the Trade Copier Program

Inside each terminal:

File > Open Data Folder
From there navigate to MQL5 > Experts > Advisors
Place your EA files (sender for the master and receiver for the clients)
Restart or refresh the terminal to load new Experts.

Step 3: Change MT5 Settings

Make sure that you’ve approved “Allow algorithmic trading and Allow DLL imports” in each of your MT5 terminals. This will allow the EA to communicate between the master and client accounts.

Step 4: Open the Sender EA (Master Account)

In the master MT5 terminal:

Open a chart.
Drag the “Sender EA” onto the chart
Fill out any required settings including channel name and risk settings.
Make sure the “Algo Trading” button is green meaning it is active.

Step 5: Execute the Receiver EA (Client Accounts)

On the client sides:

Open a chart and attach the “Receiver EA”.
Make sure the channel name matches the sender EA.
Set your risk preferences (fixed lot, multiplier, or percentage of account).

Step 6: Testing & Monitoring

After establishing the entire setup, you can make a test trade on the master account to see it instantly copy over to all linked accounts. You may want to review the Experts and Journal tabs to see if there are any errors. Ensure that the trade specifications matched in all accounts.

Why Use Combiz Trade Copier Software?

Combiz is one of India’s premier solutions to copy your trade, made for use by both retail and professional traders. The features include:

Fast execution using minimal latency.
High level of customization around risk and lot size.
Ability to use multiple brokers and accounts or pair separately on each account.
Reliable and consistent work with support staff.

The Combiz Trade Copier App will offer you seamless connectivity, automation, and accuracy; you can focus on your strategy, instead of execution.

Conclusion

Trade Copier Software makes it super easy to automate copy trading for anyone who handles multiple trading accounts. You will save time, mitigate risk, and confidently execute trades the same way every time. For an intuitive, fully-featured, reliable trade copier that takes your trading automation to the next level, you can count on Combiz.

Experience the advantage of automated trades today with Combiz Trade Copier Software and enjoy the effectiveness of automated trades that copy trades in real-time, all hands-free!