How to copy trades between MT4 and MT5 on the same PC or VPS

Many traders end up with accounts on both platforms: a broker that only offers MetaTrader 4, a prop firm on MetaTrader 5, an old MT4 account with a strategy that still works. Sooner or later the question comes: can I trade on one account and have the trades copied to the others, even between MT4 and MT5?

Yes, and if all terminals run on the same computer or VPS you don't need any external server, signal service or subscription. In this post I explain how local copying works, how to set it up, and the details that usually cause problems.

Why MT4 and MT5 can't "see" each other

Every MetaTrader terminal runs in its own space: it has its own data folder, its own history and its own connection to the broker. An Expert Advisor running in an MT4 terminal cannot read the positions of an MT5 terminal, and vice versa. MT4 and MT5 also use different trading models: MT4 works with orders, MT5 with positions and deals.

There is, however, one place that all terminals installed on the same machine share: the common data folder (in MetaTrader: File → Open Data Folder, then go up to Terminal\Common\Files). Any EA, MT4 or MT5, can read and write files there.

This is how a local copier works:

• on the master account, an EA continuously writes the list of open trades into a shared file;
• on every slave account, an EA reads that file and opens, modifies or closes its own trades so they match the master.

Because everything happens on the same disk, the copy takes a fraction of a second and works even without an internet connection between the terminals.

Setting it up, step by step

1. Install all terminals on the same PC or VPS. For trading 24/5, a VPS is the best choice: the terminals stay on even when your computer is off.
2. Log in to the master account in one terminal and to each slave account in the others. You can open several terminals of the same platform by installing them in different folders.
3. Enable Algo Trading in every terminal (button in the toolbar).
4. Attach the copier EA to one chart in each terminal: set it as Master on the account that sends trades, as Slave on the others. Use the same channel name on both sides.
5. Test on demo accounts first: open a trade on the master, move the SL, close half of it, and check that the slave follows every step.

The details that usually cause problems

1. Different symbol names. The same instrument often has a different name on each broker: XAUUSD and GOLD, US30 and DJ30, EURUSD.r and EURUSDm. A good copier must recognise these names, remove or add prefixes and suffixes, and let you map special cases by hand. Otherwise the trade simply isn't copied.

2. Different contract sizes. On one broker 1 lot of gold is 100 ounces, on another it can be 1 ounce. Copying the same lot size would multiply the risk by 100. The lot must be converted according to the contract size of each broker.

3. Lot sizing. Copying the exact master lot only makes sense if the accounts have the same size. Usually it's better to use a multiplier, a lot proportional to balance or equity, or a fixed risk % on the stop loss.

4. Hedging and Netting accounts (MT5). MT4 accounts and MT5 Hedging accounts can hold several positions on the same symbol, even opposite ones. An MT5 Netting account holds only one position per symbol: a buy and a sell are merged together. Copying from a Hedging account to a Netting account therefore gives wrong results (a hedge on the master becomes a close on the slave). The safe rule: a Netting account should only copy from a Netting master, while a Netting master can be copied to Hedging and MT4 accounts if the copier splits its position into the single entries.

5. Restarts and disconnections. If the slave terminal is closed for a few minutes, what happens when it restarts? A copier that works on the current state of the master (not just on single events) realigns automatically, without duplicate trades.

6. Copy loops. If an account is both a slave and a master for another channel, the copies must not be sent back again. Check that your copier ignores trades it opened itself.

The copier I use

I built SAYON Trade Copier to handle exactly these points: one EA for both roles, MT4 ↔ MT5 in every direction, automatic symbol and contract-size matching, six lot modes, and a panel that shows the account type of master and slave and blocks the copy when Hedging and Netting don't match. The MT4 version is free and complete; to copy to or from MT5 you install the MT5 version on the MT5 terminals.

» SAYON Trade Copier MT5 (the free MT4 version is linked on the same page)

In short

• MT4 and MT5 on the same PC or VPS can copy trades through the common data folder, with no external server.
• Watch out for symbol names, contract sizes and lot sizing.
• On MT5, a Netting account should only copy from a Netting master.
• Always test on demo first.

If you have questions about copying between your accounts, ask in the comments.