Forex Account Copier – ideas for use

What is a Forex Account Copier?

Forex Account Copier is a program, which allows traders to replicate trades from the master account to secondary accounts while changing the trade size of the secondary (dependent) accounts according to a predefined rule. 

Why do we need a forex account copier – main application?

The main users of the forex account copier are account administrators, signal providers, and traders trading on several accounts at the same time. In the case of managers and traders who trade on multiple accounts simultaneously (for ease of understanding, let’s group them under “forex manager”), the program helps to ease the work greatly, because the forex manager does not need to open orders on each trading terminal, calculating the amount of traded lot, or to install forex robot on each terminal. Instead, the forex manager trades on the master account and adds all other accounts to the forex copier account as subaccounts and once set up a rule to calculate the traded lot for each subaccount. 

Forex signal providers also can trade on one master account and send signals to customers and forex signal consumers can customize the lot size as well as other settings depending on their goals on their own.

Forex Account Copier non-standard usage ideas

How can you use the forex account copier if you trade in one or two accounts and you do not need to duplicate orders on many sub-accounts? Here are just a few ideas to make you understand that a forex account copier is a must-have trading tool for every forex trader.

1. You either have a money manager managing your account or you buy signals and you want to trade on one or two more accounts. For this purpose, if you have a forex account copier, you do not need to pay commission from the second account or buy signals for the second account. 
2. You have taken a test forex robot (Expert Advisor) which works only on demo accounts for free. You can set up a demo account with an installed forex robot as a master account and copy orders on a real account.
3. You bought a forex robot, which is tied to a certain broker (this often happens if the seller of forex robots has an affiliate agreement with a broker) and . or an account number. You can use this account as a master account and copy orders to your other sub-accounts. Or subaccounts of your relatives.
4. You have an account number and an investor password for a professional raider account. You can add this account as a master account and copy orders to your subaccounts. The investor password is enough for the master account.
5. Your broker prohibits automated trading (trading with forex robots). Some forex account copiers allow you to imitate fully manual trading. This approach will also help you to “disguise” the forex robot’s work as manual, if the broker allows automatic trading, thereby lulling the dealer’s vigilance. 
6. You can overwrite magic numbers and comments that are used on your master account or overwrite them with your own. 
7. If you are using HFT forex robots such as arbitrage or spike trading on your account, then it will be right to add orders from other strategies to mask the HFT forex robots and the trading copier will help you with that as well.
8. If the forex copier has numerous filters? Then there is a possibility to “improve” the strategy working on the master account, for example:

A) The order copier can skip opening orders on the master account and wait for the position to have a slight drawdown or vice versa, and only then copy it. You need to first watch the strategy and understand when negative trades happen, so you can try to reduce their number with the help of a trading copier.

B) You can copy orders only for specific trading instruments if you see that the strategy works better on EURUSD and GBPUSD, but its profitability on XAUUSD is not high and the risks are higher.

C) You can limit the time in which you copy orders. This will help if you see that the strategy works better at a certain time interval.

E) If the account from which you are copying several Expert Advisors, you can copy orders only with a certain magic number. You can also copy orders only with a certain comment. 

E) you can delete or move Stop Loss or Take Profit by a certain number of pips or count their values from the opening price of the order in your savings account

F) you can hide a Stop Loss or Take Profit or any Limit Order on a sub-account. 

Forex Account Copier’s main problems

The main problem with a Forex account copier is that when you use multiple accounts from different brokers and often different platforms, due to the difference in quotes and order execution time, there are moments when the orders are not executed on sub-accounts due to some other error. If you have up to 10 accounts under management, these problems can be easily tracked and analyzed, but if you have hundreds of accounts, this analysis is difficult. This is why you need to focus on copiers with good error logging.

Forex Account Copier – Manufacturer

1. hftforexcopier.com
2. multiterminal.net (PowerTradeCopier)
3. mt4copier.com
4. forexcopier.com

I would single out the first 2 vendors because of their reliability and ability to fine-tune any task.

VPS for Forex Account Copier

VPS for forex account copier hosting should be chosen based on 2 conditions:

1. If all your subaccounts and master accounts are located in London then it is better to choose a VPS in London to reduce delays associated with signal transmission over the Internet. The ping from London to New York is 70ms and during this time the price may change by a few pips and thus create slippage on your sub-accounts. If your master and sub-accounts are in different locations then split them into groups and rent several IBAs.
2. The number of accounts you want to manage is determined by the CPU of the local office. For this reason, I would ask the vendor what system requirements you need for 20 accounts.