RelicusRoad CopyTrader MT5

RelicusRoad CopyTrader is a free trade copier for MetaTrader 5. It copies trades between MT5 terminals on the same computer, so you can trade one account and have the others follow it, each at its own size and risk.

Full version, no limitations, no trial period.

MetaTrader 4: RelicusRoad CopyTrader MT4

How it works

One terminal runs as the Leader (master) and shares the orders it holds. Any number of terminals run as Followers (slaves) and mirror them. Terminals are paired by a Channel name, so several independent copy groups can run side by side on one machine.

Copying runs on a 200 millisecond timer, so a follower reacts to a new order without waiting for a price tick on its own chart.

Setting it up

• 1. Run all the terminals on the same computer or the same VPS. Copying between two different computers is not possible.
• 2. Attach the EA to one chart in each terminal. Any symbol and timeframe will do.
• 3. In the EA window, on the Common tab, tick Allow Algo Trading, and turn on the Algo Trading button in the toolbar of every terminal.
• 4. Set Operating mode to Leader in the terminal you trade from, and to Follower in the others.
• 5. Give all of them the same Channel name.
• 6. Open a trade on the leader. The follower copies it within a second, and its panel counts the mirrored orders.

Not copying? Check these first

The alert line on the panel, and the lines starting with RRCT: in the Experts tab of the Toolbox (Ctrl+T), say exactly why a trade was not copied. The usual causes:

• Terminals on different computers. They talk through a folder on the local disk, so both must run on one machine. The built-in MQL5 Virtual Hosting gives each terminal its own server, so it cannot be used for copying. Rent an ordinary VPS and install both terminals on it instead.
• Algo Trading is off in the toolbar, or Allow Algo Trading is unticked in the EA settings.
• Channel names differ. Leader and followers must use the same Channel.
• Different symbol names. If the leader trades EURUSD and the follower's broker calls it EURUSD.m, set the suffix or a symbol map, and make sure the symbol is shown in the follower's Market Watch.
• Lot below the broker minimum. With a small factor or balance ratio sizing, a small account can work out a lot under the minimum, and that copy is skipped. Raise the factor, use a fixed lot, or allow rounding up to the broker minimum.
• Different account currencies with balance ratio sizing. Use factor or fixed lot sizing instead.
• Netting account. Followers need a hedging account.
• STANDBY on the panel. Another follower on the same account and channel is already copying. Only one follower per account and channel is allowed.

Still stuck? Post the RRCT: lines from both terminals in the Comments tab and we will find the cause.

What it copies

• Direction and order type. A buy stays a buy, a sell stays a sell, and pending orders stay pending.
• Stop Loss and Take Profit. Mirrored on entry and kept in sync when the leader moves them.
• Partial closes. Close part of a position and the copy shrinks to match.
• Exits. Close on the leader and the copies close with it.
• Pending orders. Limit and stop orders are mirrored, and replaced with a market copy if the leader's order fills first.

Lot sizing

• Factor. Multiply or divide the leader's lot by a number you choose.
• Fixed lot. Every copy uses the same size, whatever the leader traded.
• Balance ratio. A smaller account trades proportionally smaller, worked out from the two balances.

Every result is rounded to your broker's lot step and held inside its minimum and maximum. You can also set a hard lot ceiling per trade and a limit on how many copies are open at once.

What it will not do

A copier is only as good as its behaviour on a bad day. These are deliberate refusals, and each one is written to the Experts log so you can see why.

• It will not close on bad data. If the shared file is unreadable, incomplete or out of date, the cycle is skipped and your positions are left alone.
• It will not dump positions if the leader goes quiet. Copies are held and nothing new is opened, with a warning on the chart.
• It will not reopen a trade you closed. Every copy is recorded in a ledger on disk, so a position you closed by hand, or one that hit its own stop, stays closed.
• It will not invent a position size. If the calculated lot falls under your broker's minimum, the copy is skipped rather than traded at a much larger minimum.
• It will not copy across a mismatched account. Balance ratio sizing is declined when the two accounts use different currencies, and any copy is declined when the same symbol name carries a different contract size.
• It will not open an unprotected position. If your broker rejects the leader's stop levels the trade is refused, unless you allow it in the settings.

Different brokers, different symbol names

If your accounts are with brokers that name the same instrument differently, set a symbol prefix or suffix, or map them one by one, for example EURUSD=EURUSD.m;XAUUSD=GOLD.

On the chart

A small panel shows the mode, the channel, how many orders are being sent or mirrored, and a single alert line when something needs attention. The close button takes two clicks and states how many orders it will close before you confirm.

Main settings

• Operating mode. Leader or Follower.
• Channel. Must match between a leader and its followers.
• Leader publish magic. Share one strategy and keep your other trades private.
• Lot sizing method. Factor, fixed lot, or balance ratio.
• Max slippage. Deviation allowed when a market copy fills.
• Stale timeout. How long before a silent leader is treated as offline.
• Copy pending orders. Include limit and stop orders.
• Magic number. Tags the copies, so your manual trades are never touched.

Before you use it

Set it up on two demo accounts first. Open a buy, then a sell, and check the direction matches. Move a stop and watch it follow. Then close a copy by hand while the leader is still in the trade, and confirm it does not come back.

Support

Questions and problem reports are welcome in the Comments tab on this page, or by private message. Please include your MetaTrader build and both broker names.