Utilising a trade copier in your trading can be a great way to save time and reduce latency in trades if you’re trading multiple accounts.
Generally, you would use a trade copier if you have multiple accounts which you want to execute the same trades on.
I have tried many trade copiers, and the one I find the best in terms of latency and ease of use is Forex Trade Copier
Forex Trade Copier is very simple to use, you select your source account, and then the receiver accounts you would like your trades to copy into, and as long as your ‘auto trading’ button is selected in MT4 trades will automatically be copied into the receiver accounts.
However, beyond this basic functionality, this versatile tool has a whole host of other features! The risk management options are fantastic, for example, you can copy trades at the exact same lot size, or you can do it on a percentage ratio where it will automatically calculate the equivalent lot size for the various balances on the account.
There are also other great options such as the ability to cut off a trade at a certain loss level, copy trades only once they have gone into profit and even reverse mode (although I have never really used this as I would never want to copy an unprofitable trader!)
I find a Forex Trade Copier a very useful tool to have in my possession, as I have an account I use for compound profits and one for living, so it means I don’t have to manually execute and manage the trades in the individual accounts.
The latency is also very low, which means trades are copied over very quickly, and yes, when I close a trade on the source account, it will also be closed on the receiver accounts, so it really does make my job as a trader soooo much easier!
I personally recommend the trade copier 2 as it does everything you need for a very small fee of $14.99 per month or $149 for lifetime access!
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