MQL5 Copy Trading

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So how does it actually work. When i browse those guys who i could copy trade, i have noticed that there is leverage suggested and the broker. Now here are few qs that i have:

1. Do i have to have my MT5 opened? Also does the connection to copy trade provider happens via EA on MT5? 

2. Now the exchange part. I know some exchanges might have same pairs indexed differently. In case like that, the trade won't open if i happen to use different exchange than he uses. But if different exchanges have, say, XAUUSD indexed same, there should be no prob going with the exchange of my own choosing.. Correct? 

Any additional tips? What metrics yall looking at when browsing copy traders? 
 

1. No, when you subscribe to a signal and you perform the initial setup correctly, you will not need to keep your MT5 terminal open, as long as you use the recommended MQL5 VPS.

2. Its preferable to use a broker that has the same symbol or same suffixes, if you can't check the Slippage tab of the signal for the broker/server setups other subscribers have used. You can also ask the signal provider for advice.


Make sure you've done everything as described here: 

How to Subscribe to MT4/MT5 Signal

https://www.mql5.com/en/forum/189731  (MT4)

https://www.mql5.com/en/forum/336422  (MT5)

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