MT4 Trade Copier Review

Hi everyone. Today I would like to tell you about trade copiers that are used for copying trades from one trade terminal to other MT4 terminal or several MT4 trade terminals at the same time.
I have tested a lot of software programs and I’d like to tell about disadvantages that I discovered

  • First disadvantage is that this products works on MT4 scripts or expert advisors. Meaning that you must separately coordinate all terminals, masters and subaccounts, as well as install scripts, expert advisors and add all to graphs. So after all of that is done  the system begins to work. You must always keep all of your MT4 terminals operating while working on the computer because in case of an unforced system reload , all system setups will change in your copier system. So you’ll have to do your work from the start again, such as run terminals and install scripts, which is really uncomfortable.
  • Second disadvantage. These kinds of systems work with big delays. Expert advisor or script always asks for your general account and subaccounts in different periods of time, even in a second. But if you setup a shorter period of requesting accounts, system can hang processor which will lead to the system delay and it works with retention. It’s ok if you copy deals with big targets such as 100, 200, 300 points. In that case losing a few points will not lead to a significant loss on your general account, but if you copy a scalping system or from systems with targets of 10 points then even the delay of 0.5 seconds can result in substantial loses on subaccounts.
  • Next disadvantage.  I would like to stress upon, is when copying through the internet using ftp server or html page it can be dangerous and trigger bigger delays. These kinds of copiers can be used by non-professional traders for copying accounts with total amount of money around $300-$400, when you can deal with some loses. But if you have many clients and they have big accounts, you can’ risk to use this kind of system.

System that I liked is professional program that looks and works accordingly. PowerTradeCopier is programed by Canadian company BJF trading Group and I have been using it for one year.

I’d like to state some important advantages of this system and what benefits it carries along.

1.    You do not need to run terminals.  You only need to run PTC , enter your account number and invest password for general account  (it’s very convenient and safe). You can use someone’s account and copy deals from contests where always invest passwords are published or from monitorings.  You do not need to run terminals. You just enter information and then enter data of subaccounts (here you need the trade password to open a deal and you do not need to run terminals for subaccounts). In this case, on your computer only one window is opened for all of your accounts and the copying process is immediate and there are no scripts and hidden processes. The order goes really fast to broker.

About settings

At first, system looks very overload by settings. If you read the manual and refer to support services it should not be complicated to setup your program. For every client there are optimal setups. You can use filters, or any scheme of copying and you can also copy from several master accounts (from 1-st to 2-nd, from 4-th to 5-th subaccounts.) You can make any copy scheme that is really convenient for you. One can use filters and copy market orders ( you can copy adjournment orders or orders when they already done and so on).   
The main advantage is that the delay is equal to zero. You don’t lose money on copier delay so it’s only a broker’s delay.

2. You do not need to run MT4 terminal therefore it’s really convenient and all your settings will be saved. You just run this software and work with it.

This system has a few modules

1-st STP  module  – it’s useful for brokers that copy deals with high frequency because this module captures trades at the moment when it has not been sent to a broker yet. Meaning that even before  general account open a deal  it goes straight to subaccounts and all orders will be opened unless brokers have delays. For example,  broker 1 has Execution time 1, Broker 2 has execution time 2 so with Broker 1 you depend on Execution time 1, and with Broker 2 you depend on Executive time 2 and nothing else. But if you copy deals where the delay of few micro seconds is irrelevant, this module is not for you.

2-nd module is FIX API. This module helps to copy deals to Carrenex   system or other brokers that use FIX API. It will be useful and convenient for big investors that have accounts on FIX API brokerage companies. The disadvantage of this module is that the broker has to make individual settings for different systems. And I think FIX API is different for every broker. It’s not fully convenient. However it is Ok since, if you usually use 1 or 2 brokers the module supports it. I didn’t mention that support service is very quick and you can always contact it by e-mail, skype or by phone. Answers are also quick. I believe any answer to your question is received within an hour on the weekdays and it can take up to a few hours on the weekends.
 Thank you! I recommend this product for people who value and prefer professional products.
Click here to visit PowerTradeCopier Official Website