Local Trade Copier Review

Introduction

In today’s fast-paced world of trading, efficient and reliable trade copiers have become indispensable tools for traders. Local Trade Copier (LTC) is one such solution that enables traders to replicate trades from one trading account to another. In this article, we will explore the features, benefits, and drawbacks of the Local Trade Copier to help you make an informed decision.

1. What is a Trade Copier?

A trade copier is a software tool designed to duplicate trades from one trading account to another. It enables traders to automate their trading strategies and execute trades simultaneously across multiple accounts. Trade copiers are widely used by professional traders, money managers, and signal providers to streamline their trading operations and improve efficiency.

2. Introducing Local Trade Copier (LTC)

Local Trade Copier (LTC) is a powerful trade copying software developed specifically for the MetaTrader platform. It allows traders to copy trades between multiple MetaTrader 4 (MT4) or MetaTrader 5 (MT5) accounts located on the same computer or virtual private server (VPS). LTC offers a user-friendly interface and robust functionality, making it a popular choice among traders.

3. How Does Local Trade Copier Work?

Local Trade Copier operates by establishing a connection between the master (source) account and the slave (receiver) account. It monitors the master account for new trades and automatically replicates them to the slave account in real-time. The software copies all trade parameters including entry price, stop loss, take profit, and trade execution time.

4. Key Features of Local Trade Copier

4.1 Trade Duplication

Local Trade Copier excels at accurately duplicating trades from the master account to the slave account. It ensures that every trade is copied with precision, maintaining the same trade parameters as the original.

4.2 Multiple Account Support

With LTC, traders can copy trades to multiple slave accounts simultaneously. This feature is particularly beneficial for money managers and signal providers who manage multiple client accounts.

4.3 Adjustable Lot Sizes

The software allows users to adjust the lot sizes of copied trades according to their risk preferences and account balance. Traders have the flexibility to increase or decrease the lot sizes proportionally or by a fixed multiplier.

4.4 Trade Filtering

Local Trade Copier offers advanced trade filtering options to control which trades get copied. Traders can specify various criteria such as currency pairs, trade direction, or magic numbers to filter out unwanted trades.

4.5 Reverse Trading

One of the unique features of LTC is the ability to reverse trade signals. Traders can choose to copy trades in the opposite direction, making it useful for strategies that thrive on contrarian trading.

5. Advantages of Using Local Trade Copier

5.1 Time-Saving

By automating trade copying, Local Trade Copier saves traders valuable time and effort. It eliminates the need for manual trade execution across multiple accounts, allowing traders to focus on analysis and strategy development.

5.2 Precision and Accuracy

LTC ensures high levels of precision and accuracy in trade duplication. There is minimal latency between the master and slave accounts, ensuring trades are copied with minimal slippage.

5.3 Portfolio Diversification

With Local Trade Copier, traders can diversify their portfolios by copying trades across multiple accounts with different strategies or risk profiles. This helps in spreading the risk and potentially enhancing overall returns.

5.4 Risk Management

The software provides risk management tools that allow traders to control the risk associated with trade copying. Users can set maximum risk limits, adjust lot sizes, and apply stop loss and take profit levels to manage risk effectively.

6. Limitations of Local Trade Copier

While Local Trade Copier offers numerous benefits, it’s important to consider some limitations. First, it can only copy trades between accounts located on the same computer or VPS. Second, it requires stable internet connectivity and reliable hosting to ensure uninterrupted trade copying. Lastly, the performance of LTC depends on the processing power of the computer or VPS it is running on.

7. Setting Up Local Trade Copier

7.1 Installation and Configuration

To set up Local Trade Copier, start by downloading and installing the software on the master and slave accounts. Then, configure the trade copying settings according to your preferences.

7.2 Connection and Authentication

Establish a connection between the master and slave accounts using the provided connection options. Authenticate the accounts to ensure secure and authorized trade copying.

7.3 Account Mapping

Map the master and slave accounts in the Local Trade Copier interface. This step ensures that trades from the correct master account are copied to the corresponding slave account.

8. Local Trade Copier vs. Remote Trade Copier

Local Trade Copier operates within the same computer or VPS, while Remote Trade Copier enables trade copying between accounts located on different computers or servers. The choice between the two depends on the specific requirements and preferences of the trader.

9. Frequently Asked Questions (FAQs)

10. Conclusion

Local Trade Copier is a reliable and feature-rich trade copying software designed to enhance trading efficiency and productivity. It offers precise trade duplication, multiple account support, adjustable lot sizes, and advanced filtering options. By automating trade copying, traders can save time, improve accuracy, and manage risk effectively. Whether you are a professional trader, money manager, or signal provider, Local Trade Copier can be a valuable addition to your trading toolkit.