4 Best Forex Trade Copiers – Tried And Tested | Forex Broker Report (2024)

When you finally reach consistency and profitability in trading, there’s a lot you can do with your trades. Whether this includes getting funded accounts, selling signals, trading for family or just having different accounts on different risk perimeters, copying your trades onto different accounts is a very handy thing to do.

Manually logging into 5 different accounts, working out the lot sizes, then executing all of these trades is going to take you way too long to do, especially for intraday traders – this is where trade copiers come in.

In this article we are going to look at the best 4 forex trade copying solutions in the market, the pros, cons and my experience with these tools over the last few years. As of 2023, I’m still using these tools in my own trading! Let’s get into it…

What Is Forex Trade Copying Software?

Forex trade copying software is used to copy the trades from a Master MT4/MT5 Account, to other accounts linked to that one account. MetaTraderhas a huge amount of amazing features but sadly there isn’t any real functionality to copy trades, without using a third party EA or software, which is where our list comes in!

I’ve personally used a trade copier for the last 6 years and found it extremely useful for a number of different reasons. The main users of trade copiers are:

Retail Forex Traders

Some forex traders like to copy their trades onto other accounts, with different risk settings. I used to have a Master Account and the trades would be sent to a higher risk account with less capital, trading at a much higher risk per trade. This can be a great way to diversify risk and spread your portfolio more than just on the one trading account.

Funded Traders

Most of the Best Prop Firmswill let you trade multiple large accounts at the same time. FTMOfor instance will let you have up to 3 accounts, meaning you can triple your potential earnings with a trade copier! Some traders like to get funding from multiple firms at the same time as well, to diversify the risk of the prop firms not paying up. For instance, trading your own capital, a Funding Talentaccount and a MyForexFundsaccount is all possible at once with a trade copier setup.

Signal Sellers

Traders selling signals and account management often use a forex trade copier to copy their trades onto the accounts of their subscribers. This has to be done extremely carefully as there can be legal implications of trading other peoples money, so please do your due diligence if you’re thinking of starting a signal service.

1. LocalTradeCopier

LocalTradeCopieris, in my opinion, the best forex trade copier in the market. I have personally used this copier for the longest period and found it to be absolutely perfect, with no errors, risk management issues and constant support/updates from the developer.

I have actually got a full review of LocalTradeCopier here, detailing my experience with the tool, if you’re interested in learning more.

LTC allows you to copy trades from unlimited master accounts, to unlimited client accounts on MT4. Your license can be transferred to another machine if needed, but I would highly recommend running this EA on a ForexVPS.

For the monthly package, you’re going to be paying around $20 per month for the basic package and of course more for the more advanced packages (I personally use the basic).

LocalTradeCopier has hundreds of excellent reviews across ForexPeaceArmyand Trustpilot, so check them out now!

2. Forex Copier

Forex Copier 3is one of the most advanced and easy to use trade copiers in the market, making it very easy to copy trades across multiple MT4 and MT5 accounts. The software allows you to connect multiple brokers, customise rules and risk management, the setup takes just minutes and they have an Excellent reputation on Trustpilot.

Over the last 11 years they have helped copy over 5,000,000 trades across 122 countries and with over 10,000 clients! I would highly recommend setting with copier up on a dedicated VPS like ForexVPSto keep the latency as fast as possible and guarantee to most effective copies.

3. Duplikium

Duplikiumis another industry leading forex trade copier that has a number of perks for traders looking to copy their positions onto other accounts.

This solution allows traders to copy trades without having an EA running, a VPS running or even anything on their phones – it’s all handled automatically on their servers and it only takes a few minutes to get setup.

The main perk of Duplikium is the fact that it works cross platform. This means you can copy trades from MT4 to other platforms like cTraderand LMAX.

This copier comes with a free package, or the most popular option is a $20 per month package, suitable for the majority of traders.

4. 4XSolutions

4XSolutionshas been around for the last 11 years providing trade copy functionality to traders and brokers around the world.

The company is even used and trusted by IC Markets, my personal broker. The software is completely cloud hosted meaning you don’t need any setup on your end and is compatible with any MT4/MT5 brokers around the world.

15,000 traders are currently using 4XSolutions for their copying. It comes with a range of risk management features, stripe automatic billing, white labelling, pricing support and is built for HFTs. The pricing starts at $12 per month, so check them out now!

Setting Up Your Forex Trade Copier

When you add multiple accounts to a trade copier, you want it to be running constantly. If the trade copier goes down or turns off when you’re managing risk on the master account, the other copier accounts may not be connected and the trades could not be updated – causing a huge issue for traders.

This can be avoided by setting the trade copier up on a VPS with guaranteed up time!

I personally have used ForexVPSfor years now and I couldn’t recommend it enough for forex traders. It’s cheap, reliable, never goes down and it was set up within minutes with my trade copier running perfectly.

ForexVPS is also a great idea if you have a Mac and struggle to get MT4 on there, you can purchase a VPS, use Remote Desktop on Mac to access it and trade until your hearts content!

Sign up for a VPS now!

In Summary

In conclusion, the best forex trade copier is Local Trade Copier. I have used this for many years on a VPS to run multiple trading accounts and I’ve never had a single issue.

The developer is extremely helpful, the risk management and safety features are amazing and the software is constantly updated.

The cost is extremely cheap per month and I highly recommend checking it out if you’re in the market for a trade copier. I advise running this copier on a ForexVPSto ensure you don’t have any problems or downtime.

If you have any experience with a MT4 trade copier then please do let me know in the comments below, I’d love to know your opinion and experiences.