MT4 Trade Copiers Review
I am a forex accounts manager since 2003. I use several of high-frequency trading robots and also manual trading. My clients have accounts with MT4 brokers, Dukascopy (Jforex) and Currenex. The success of any money manager depends on the trading strategy and account management tool (trade copier or multiterminal). I would like to share my experience in using trade copiers. During my work as an account manager, I tested probably almost all trade copiers.
My criteria for choosinga copier:
2. Low latency;
3. Reliability. How important is safety when you know in your management about M of clients’ money, and at this point the copier stops working because of the innovations of meta quotes company
4. Copies signals of robots as well as manual trades;
5. Several money management options for managed accounts (Most important: Lot scaling, percent from account balance);
6. The opportunity to not keep running trading terminals;
7. The opportunity to push the stop loss and take profit on managed accounts on the price distance allowed by broker;
This point very important for scalping strategies with short stop loss or (and)take profit. If your copier doesn’t allow this, you will miss a lot of orders on managed accounts.
8. Opportunity to copy order with same price;
9. Comments modification;
10. The ability to copy orders to other, non MT4, platforms.
11. The ability to manage MT4 accounts without password. You need this ability, if you manage US accounts.
I built a list of requirements in order of importance to me, from the more important to less important. I think any manager would agree with my requirements on 100%. I do not want to post anything bad about the trade copiers on which I eventually abandoned.
1. CopyTool (
MetaTrader Account Copier "CopyToolPro" )this tool much 80% of my creameries and has couple limitations:
-You should keep running MT4 terminals. It is not so important if you manage up to 5-7 accounts.
- Latency about 0.2 sec
-Impossible to copy trades to Jforex or (and) Currenex
-Impossible to copy trades via internet
- Not so useful interface
2. PowerTradeCopier (
MT4 Trade Copier - MultiTerminal Power Trade Copier ) - this tool much 100% of my creameries. I use PowerTradeCopier within 3 years for MT4 accounts and 6 months for Currenex and Jforex.
I built a list of requirements in order of importance to me, from the more important to less important. I think any manager would agree with my requirements on 100%. I do not want to post anything bad about the trade copiers on which I eventually abandoned.
1. CopyTool (
MetaTrader Account Copier "CopyToolPro" )this tool much 80% of my creameries and has couple limitations:
· You should keep running MT4 terminals. It is not so important if you manage up to 5-7 accounts.
· Latency about 0.2 sec
· Impossible to copy trades to Jforex or (and) Currenex
· Impossible to copy trades via internet
· Not so useful interface
2. PowerTradeCopier (
MT4 Trade Copier - MultiTerminal Power Trade Copier ) - this tool much 100% of my creameries. I use PowerTradeCopier within 3 years for MT4 accounts and 6 months for Currenex and Jforex.
Source:
Trade Copiers Review