Today’s question about the Local Trade Copier:
How can I get Forex trades from 2 different master accounts to be copied into a single slave account using Local Trade Copier on MetaTrader 4 platform?
Also, I want the client to receive variable lots sizes from one master and fixed lots from the other.
Okay, so first make sure that you have a “Personal”, “Manager” or “VIP” license.
All of them allow you to copy trades from two master accounts and if you have a “Personal” or “VIP” license then there is no limit to how many master accounts you can use.
In this example we will use 2x master accounts and a single slave account.
So next you need to run Server EA on each of the master accounts and then the Client EA on your MT4 slave.
In this picture you can see a master account #123 and a master account #456. Also we have a slave account #489.
If you want to have different settings for the trades coming from each master account you should use two Client EA instances on the same slave account. You will have to open two charts to be able to attach both EAs.
Here is the configuration of the 1st Client EA:
FilterMasterAccounts should be set to 123, the account number of the 1st master account.
Then you just set the risk options you want to use to have variable lot size using one of these options:
Here is the configuration of the 2nd Client EA:
FilterMasterAccounts should be set to 456, the account number of the 2nd master account.
Also it is very important to set a unique magic number which is not the same as the 1st Client EA or any other EA is using on the same MT4 account. In this example lets set the MagicNumber to 777.
Next, to have a fixed lot size you need to use the FixedLotSize option. Set the value you need here and you are good to go.
Remember that all other 3 money management options should be set to zero.
Now trades coming from different master accounts can have different settings. And if you want to have more master accounts you just repeat the same process and make sure you are using a unique magic number for each EA.
I hope that helps, and please share this information with someone who needs it.
You may also want to check the The Definitive Guide to Forex Trade Copying to learn more about how to use the Local Trade Copier and copy trades between multiple MetaTrader 4 accounts.