leverage question on copy trading?

[Cobra5000]

there is a trader i want to copy.

looks like they mostly trade lots about the size of 0.12 .. 

but on his page the leverage is 1:50

my broker default is 1:500

so that is a 10 fold difference. 

is the rule of thumb to go with the same leverage that the trader has set ?

or when copy trading is that set automatically by the trader being copied ?

thanks for the info.

[Daniel Stein]

Cobra5000:

there is a trader i want to copy.

looks like they mostly trade lots about the size of 0.12 .. 

but on his page the leverage is 1:50

my broker default is 1:500

so that is a 10 fold difference. 

is the rule of thumb to go with the same leverage that the trader has set ?

or when copy trading is that set automatically by the trader being copied ?

thanks for the info.

Read the following article -> https://www.mql5.com/en/articles/618

You'll find all information you need in the section "Managing Funds or How to Select a Deal Volume?"

[Eleni Anna Branou]

Cobra5000:

there is a trader i want to copy.

looks like they mostly trade lots about the size of 0.12 .. 

but on his page the leverage is 1:50

my broker default is 1:500

so that is a 10 fold difference. 

is the rule of thumb to go with the same leverage that the trader has set ?

or when copy trading is that set automatically by the trader being copied ?

thanks for the info.

Your larger leverage won't affect your copying ratio, only the smaller does.

The copying ratio will be calculated according to your (and the signal's) account balance, currency and leverage.

So, if you both have the same balance and leverage, you will open almost the same lot size trades (you can only use up to 95% of your balance in signal copying).

[4411042]

Eleni Anna Branou #:

Your larger leverage won't affect your copying ratio, only the smaller does.

The copying ratio will be calculated according to your (and the signal's) account balance, currency and leverage.

So, if you both have the same balance and leverage, you will open almost the same lot size trades (you can only use up to 95% of your balance in signal copying).

Hello, what about copying an account that has different contract size for a specific instrument? See images

[Sergey Golubev]

4411042 #:

Hello, what about copying an account that has different contract size for a specific instrument? See images

If the symbols are having margin calculation mode/type as CFD so those symbols will not be coped.
Yes, the signal provider can trade those symbols (if it is allowed by broker in specification) but those simbols will not be coped for subscribers.
Only the symbols with Forex margin calculation will be coped.

It is written in the FAQ -

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The Provider has trading symbol called GOLD, and my broker has the same instrument, but it is called XAUUSD. Are trades on GOLD copied to XAUUSD in that case?

The Provider has trading symbol called GOLD, and my broker has the same instrument, but it is called XAUUSD. Are trades on GOLD copied to XAUUSD in that case?

If a Subscriber's account has a symbol with the same name as the one on the Provider's account, and trading is fully allowed for the symbol, trades will be copied for this symbol. If trading is allowed partially or disabled for the found symbol, this symbol is considered inappropriate for copying, and the system will continue to search for a suitable symbol:
1. On the Subscriber's account, the system searches for all symbols with the names coinciding with the Provider's symbol by the first 6 characters. For example, EURUSD == EURUSDxxx == EURUSDyyy.
2. Full permission to perform trading is checked for each detected symbol. If trading is allowed partially or completely forbidden, such a symbol is discarded.
3. Margin calculation type is checked for each remaining symbol - if it is Forex, a symbol is considered to be suitable. Symbols of CFD, Futures or other calculation types are discarded.
4. If no symbols remain after conducting all the checks or more than one symbol is found, it is considered that a symbol mapping attempt has failed and it is impossible to copy Provider's trades for that symbol.
5. If one suitable symbol is found, it is used for copying Provider's trades.

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It is mapping feature which every signal provider (and signal subscriber) should know -

mapping -

• post  #7
• full explanation (thread): https://www.mql5.com/en/forum/442553
• explanation in details (incl lot size): https://www.mql5.com/en/forum/447444  How to select the broker/signal and with mapping: post #28 

[Eleni Anna Branou]

4411042 #:

Hello, what about copying an account that has different contract size for a specific instrument? See images

What do you mean copy software? Are you talking about signal copying or copying with some utility from one broker to another.

If this is about the second, some special setting may be required, contact the author/seller of the software to assist you.