💼Basic features
Last updated
Last updated
Welcome to the essential toolkit of MetaCopier, where simplicity meets efficiency. Our Basic Features offer everything you need for straightforward trade copying across Metatrader 4, Metatrader 5, DXtrade, TradeLocker and cTrader. Perfect for getting started with ease and reliability, these features are your first step towards streamlined trading success. Explore now and transform your trading experience with the essentials.
The copier provides precise control over trade replication between accounts, offering customizable settings to ensure each trade is copied in alignment with specific trading strategies and risk preferences. Additionally, multiple copiers can be combined for enhanced flexibility and strategy implementation.
Copy from account or strategy: Specify the source by entering the account or strategy name. This setting determines where the trades are copied from, allowing users to select a specific trading account or strategy as the replication source.
Multiplier: A multiplier is a factor applied to a certain value, such as the size of a trade (lot) or investment (balance or equity), to increase its impact. In trading, it is often used to amplify the exposure or returns of a position.
Slippage: Slippage occurs when a trade is executed at a different price than expected. It often happens in fast-moving markets, and the actual execution price may be worse than the intended price, leading to potential differences in profit or loss.
Slippage is in points (10 points = 1 pip). A value of 0 means deactivated (Trade is always executed at actual price).
Scale by: Scaling refers to adjusting the size of a trading position based on the total account balance or equity. It is also possible to use a fixed lot size or disable the scaling to use the same lot size as the master account.
Fix master balance/equity: Override the master balance and equity to the specified value. If set to 1000, the lot size calculation for the slave account will always use 1000 as balance/equity reference ignoring the real balance/equity of the account. A value of 0 means deactivated.
Max open positions: Set a limit on the number of simultaneous open trades that can be active in your account. Once the maximum number of open positions is reached, no new trades will be opened until an existing position is closed. A value of 0 means that the feature is deactivated. If, for any reason, there are more open positions than defined, they will be closed immediately.
Max lot size: Sets the maximum lot size for each position. If a position exceeds this size, it will be adjusted to this maximum limit. A value of 0 means deactivated.
Maximum lot: Define the total allowable lot size across all open positions for the copier. This feature aggregates the lot sizes of all your current trades and ensures that their sum does not exceed a specified limit. A value of 0 means deactivated.
Active: Indicates whether the copier is active and operational. This setting allows users to easily manage the status of their trade copier, turning it on or off as needed.
Copy stop loss / take profit values: Ensure critical risk management settings, like Stop Loss (SL) and Take Profit (TP), are copied alongside each trade. This maintains strategy integrity and protects against undue losses.
Skip pending orders: This setting allows traders to choose whether or not to replicate pending orders (orders that have not yet been executed). Skipping pending orders is highly recommended. By default, this option is blocked. If you are an expert trader, please contact us to unlock this option.
Force min trade: If the calculated position size is less than 0.01 lots, then the position will be placed at the minimum lot size of 0.01.
Adjust lot size based on martingale multiplier: If there is a significant difference in balance/equity between the master and slave accounts, the lot size on the slave account may be rounded down. For example, if trades of 0.02 and 0.04 lots are placed on the master account (balance 4000 USD), a standard copier would open 0.01 and 0.01 lots on the slave account (balance 1000 USD - which is incorrect). However, if this option is activated, it will open 0.01 and 0.02 lots.
Open retry: Is a feature that ensures your trade orders are executed even if they initially fail due to temporary issues such as connectivity problems or market conditions. When a trade order fails to open, the Open Retry mechanism will automatically attempt to re-execute the order at regular intervals until it succeeds. Additionally, in the rare event that a trade is opened twice, our system detects the duplication and closes one of the positions. If set to false, the request is only sent once. For Martingale strategies, it is recommended to activate this option. For strategies with a small pip profit and a greater lot size, it is better to deactivate it. For HFT, it is better to deactivate it as well.
Reverse: This feature allows you to invert the direction of trades being copied. When enabled, a buy (BUY) order from the source account will be converted into a sell (SELL) order on the destination account, and vice versa. This can be helpful if you want to trade in the opposite direction of a strategy being followed. If you are using a Take Profit (TP) or Stop Loss (SL) value, these will also be inverted: the TP on the master will become the SL on the slave, and the SL on the master will become the TP on the slave. Note that the risk-to-reward ratio (RRR) will also be reversed. For instance, if you’re using an RRR of 1:2 on the master, it will become 2:1 on the slave. This feature does not support pending orders.
Hide comment: When enabled, the MetaCopier comment will be hidden, leaving the comment field empty. Furthermore, any positions opened manually or by other systems with an empty comment field will be closed to prevent them from remaining open in case of an error (manual positions with a comment won't be affected). It is recommended to enable this option only if absolutely necessary.
Copy open positions: When this option is enabled, any currently open trades on the master account are immediately replicated to the connected account upon activation of the copier. By default, this feature is deactivated, meaning only new trades will be copied unless this option is selected. This can be especially useful for users who want to join an already active trading strategy without waiting for new trade entries.
Force position lot size: When this option is turned on, the copier will break large orders into smaller ones if they go over the set lot size limit for a symbol. For example, if your account has a general limit of 100 lots and a specific limit of 10 lots for BTC/USD, placing an order of 30 lots will result in three orders of 10 lots each. If this option is turned off, the copier will only place one order of 10 lots and ignore the rest.
The master account is the reference for the limitations "Max open positions", "Max lot size" and "Maximum lot"
Additional features can be added in the copier settings:
This filter can be used to copy only trades with a specific value in the comment field or with a specific magic number. For examples of how to use regex, please look at this page.
This feature allows you to control which financial instruments can be traded by your account.
Whitelist: By using a whitelist, you can create a specific list of symbols that are allowed to be traded. Only the symbols included in this list will be eligible for trading, and all other symbols will be restricted. This is useful if you want to focus your trading on a select group of instruments.
Blacklist: Conversely, the blacklist enables you to specify symbols that are not allowed to be traded. All symbols not included in the blacklist will be permitted for trading. This approach is useful for excluding certain instruments that you consider too risky or outside your trading strategy.
For examples of how to use regex, please look at this page.
The copied trades to the slave accounts are placed like manual trades.
If the trades are copied from an account the magic number will be set to 0. If the trades are copied from a strategy the magic number will be taken from the defined value in the strategy settings.
Demo accounts typically do not have multiple access points, which can sometimes lead to disconnections.
In case of errors please check the logs for the affected account
The Risk Limiter halts new trade copying if the drawdown exceeds predefined thresholds, safeguarding capital by minimizing losses. Configurable for daily, weekly, or monthly periods, it provides tailored risk management for your strategy and allows the combination of multiple risk limits for enhanced control.
Risk type & period: Choose the type of drawdown limit and the specific period it applies to. This setting allows you to select how you wish to monitor drawdown — actual, daily, weekly, or monthly — offering flexibility in how you apply risk management strategies over different time frames.
Risk limit: Set your drawdown limit with precision. By inputting a value (e.g., 0.1), you're defining the maximum drawdown percentage you're willing to tolerate (in this case, 10%)
Reset time: Determine the exact local time at which the drawdown calculation period should reset. This feature enables you to align the limiter's operation with your trading schedule or the specific trading session you're most active in, ensuring that the drawdown calculation starts fresh at a time that makes sense for you
Fullfillment in seconds: Specify the delay in seconds before the limiter activates once the defined risk limit is reached. Setting this to '0' triggers the limiter immediately upon reaching the drawdown threshold, while a higher value introduces a delay, allowing for brief fluctuations before the limiter takes effect
Close all open positions: Enable this option to automatically close all open positions immediately upon reaching the drawdown limit. This feature serves as an essential stop-loss mechanism, providing immediate action to protect your capital during adverse market movements. If this option is disabled, existing positions will remain open, but new trades will not be copied to the slave accounts, preventing further exposure while allowing current positions the potential to recover.
If you have many positions or large lot sizes, the risk limit may be affected by factors like slippage, market volatility, and broker execution latency. To improve effectiveness, consider reducing the lot size.
If you intend to utilize two risk limits, one for the day and one for the current drawdown, we recommend utilizing distinct percentages to differentiate between them effectively.
With this button, you can reset your risk limits, allowing for a fresh start in managing your trading risk. Whether you need to recalibrate your strategy or adjust to changing market conditions, the Risk Limit Reset offers flexibility and control at your fingertips.
The profit targets feature allows you to set specific profit objectives for your trading account, giving you greater control over your gains. By defining daily, weekly, or monthly profit targets, this feature ensures positions are automatically closed once your target is achieved. This approach helps lock in profits systematically and maintains a disciplined trading strategy aligned with your financial goals.
Profit Target in Percent: This setting enables you to specify a profit target as a percentage of your account balance. When the target is reached, your positions will automatically close within the defined period (daily, weekly, or monthly). For example, if your target is 1%, we recommend setting a slightly higher value (e.g., 1.1%) to account for fees and possible market fluctuations.
Reset Time: The reset time determines when the profit tracking period refreshes for your selected interval. For daily targets, the reset time marks the beginning of each new trading day; for weekly targets, it resets at the start of a new week, and for monthly targets, it resets at the beginning of a new month.
When the daily target is reached and all positions have been closed, a symbol will appear on your account. If you click it, you can reset the target and continue trading.
The system attempts to automatically detect symbol mappings across different platforms. If this process fails, you can contact us for assistance or define the mapping manually as described here.
The symbol mapping function allows users to establish a connection between symbols across different trading platforms. This feature is particularly useful when the symbols on the master and slave accounts differ but represent the same financial instrument.
By mapping symbols, the copier ensures accurate trade replication by recognizing equivalent symbols and executing trades accordingly. For example, if EUR/USD is represented as "EURUSD" on the master account and "EUR/USD" on the slave account, the symbol mapping function allows users to link these symbols, enabling seamless trade copying between accounts despite the symbol variations.
To show the current symbol mapping click on button on the copiers list.
A new window opens with a list of symbols and their mapping. You can filter to the desired symbol.
If a mapping is missing or wrong go to the Symbol mapping page and add a new mapping similar to the example provided.
From symbol: Specify the symbol name from the source trading platform.
To symbol: Define the corresponding symbol name on the target trading platform.
From Broker (Regex): Set a regular expression pattern to match symbols from the source broker. This allows for flexible matching of symbols based on patterns rather than exact matches
To Broker (Regex): Establish a regular expression pattern to match symbols from the target broker, offering the same flexibility for symbol matching.
Priority: Assign priority levels to symbol mappings. In case of multiple mappings matching a symbol, the priority determines which mapping takes precedence (lower number means higher priority).
If you need some help with regex filters we have also this page with some examples
Receive instant updates on your trades directly to your Telegram app for quick and convenient monitoring.
Open Telegram with the user that you want to receive the notifications
Send a /start message to our Telegram bot with this link https://t.me/MetaCopierNotificatorBot or directly message @MetaCopierNotificatorBot
In MetaCopier, navigate to your project and access the Telegram menu item
Add a new telegram nofitication under your project (you can add later more)
Configure the settings as described in the next chapter
Telegram username: Enter your Telegram username to receive notifications. You can find your username in the settings (e.g., @User123)
Log type: Choose the type of logs you want to receive notifications for, whether it's informational, warnings or just error-related. Details:
INFO: Receive errors, warnings, and informational logs, such as trade open/close events.
WARN: Receive errors and warnings
ERROR: Receive errors only
Accounts filter: Customize which accounts you want to receive notifications for
The logs section provides a comprehensive record of all activities and events occurring within the MetaCopier platform. It serves as a detailed audit trail, allowing users to monitor and review various actions, errors, and system events.
