0
Before you start
Two checks. Tick them as you go.
Words you'll see. Sender = the account you trade on. Receiver = an account that copies it. Channel ID = the name that pairs them.
Guide · MetaTrader 5 · about 10 minutes
Copy trades between MT5 accounts on one PC.Trade once, every account follows.
Written by Dan Freeman · last checked
Got several MetaTrader 5 accounts, such as a demo, a live account and a prop challenge, and want them all to take the same trade? A trade copier places your trade on one account and repeats it on the others. This guide explains how that works on one PC with the free PFX Trade Copier, and what it can't do. Copying repeats losses as well as wins. Start on demo accounts.
~10 minto read
6 stepstick each one off
One PCevery terminal on the same computer
FreePFX Trade Copier
✓
Nothing copies while you read.
This guide explains the idea and the limits. The setup itself is in its own guide, linked in step 6.
1
One terminal per account
MetaTrader 5 logs in to one account at a time.
- A single MT5 terminal shows one account at a time. To copy, run a separate terminal for each account, side by side on the same PC.
- Brokers usually let you install MT5 more than once in different folders. Each copy logs in to its own account.
Every terminal has to stay open. A copier inside a closed terminal copies nothing.
Not seeing it?
I can only open one MT5. Install it a second time into a different folder, or use your broker's second installer, then log in to the other account there.
2
Sender and receivers
One account leads, the others follow.
- Attach PFX Trade Copier to a chart in each terminal.
- Set the account you trade on as the Sender, and every other account as a Receiver.
- Give them all the same Channel ID. That one name is what pairs them.
Not seeing it?
Two groups of accounts? Use a different Channel ID for each group, so each Sender only reaches its own receivers.
3
What gets copied
More than just the entry.
- New trades, their stops and targets, and every change you make to them.
- Partial closes, and pending orders including price, stop and target edits.
- Size for each receiver: the same size, a multiplier or a fixed lot. Symbol mapping covers brokers that name things differently.
It works with no DLL and no internet: the terminals talk through a file on your own PC, so nothing leaves your computer.
Not seeing it?
A receiver's symbol is spelled differently. Use the symbol mapping, for example XAUUSD on one broker and GOLD on another.
4
The limits
Know them before you rely on it.
- One PC only. The terminals must share one computer. It cannot reach a terminal on a VPS or another machine.
- Terminals running. If your PC sleeps or restarts, copying stops until the terminals are back. A VPS keeps them running.
- Your own accounts. It copies between accounts you own, not from other traders.
Copying between computers is a different route. Which copy-trading route is for me? explains the options.
Not seeing it?
My PC goes to sleep. Change the power settings so it stays awake, or run the terminals on a VPS.
5
Prop-firm rules
Read them before you copy.
- Many prop firms allow copying between your own accounts and ban copying anyone else's trades. Some restrict copying altogether.
- Rules change, so check your firm's current rules for every account you copy to.
- Keep a loss limit on every receiver. The free PFX Equity Shield can lock an account at its limit.
Not seeing it?
My firm's rules don't mention copying. Ask the firm before you copy to a challenge or funded account.
6
Set it up
The full step-by-step guide.
- Install PFX Trade Copier free from the MQL5 Market in each terminal.
- Follow the setup guide with two demo accounts first, then add a real receiver at a small size.
Step by step: Set up PFX Trade Copier for MetaTrader 5 · PFX Trade Copier · All copy routes.
Not seeing it?
I trade NinjaTrader 8, not MT5. The free PFX Copier for NinjaTrader 8 does the same job there.
Your safety nets
Three things to keep in mind.
1
Losses copy too
Every receiver takes the loss as well as the win. Size each one for that.
2
Demo first
Pair two demo accounts and watch a full trade copy before a real account.
3
A limit on every account
Set a loss limit on every receiver, inside any firm's limit.
!
Prop-firm accounts
Copying rules differ between firms and change. Read your firm's rules for every account you copy to.
Risk warning: Trading carries a high risk of loss and is not suitable for everyone. A trade copier repeats losses as well as wins, on every account it copies to. MetaTrader and MQL5 are trademarks of MetaQuotes Ltd.; PrecisionFX is not affiliated with or endorsed by MetaQuotes.