The Ultimate Review of Local Trade Copier EA – Is It Worth It?
The Local Trade Copier EA is a popular trade copying tool for MetaTrader that promises fast and easy trade replication between accounts. But does it deliver on its claims?
After extensively testing this software and researching user experiences, I believe it lives up to expectations and is an excellent solution for traders looking to copy signals or manage multiple accounts.
An Overview of Key Features
Here are some of the standout features of Local Trade Copier EA:
- Blazing fast copying speed – Trades are replicated in under 0.5 seconds between local MT4/MT5 terminals. This is the fastest in the industry.
- Easy 1-minute setup – Getting started is straightforward with an intuitive interface. Useful installation videos guide you through the process.
- Wide compatibility – Works for MT4 to MT4, MT5 to MT5, and MT4 to MT5 copying on the same Windows PC or VPS.
- Flexible customization – Tweak settings like trade filters, slippage control, lot sizing rules etc. to meet specific trading requirements.
- Reliable performance – Runs locally so no latency issues. Provides high uptime for uninterrupted copying.
- Demo version available – Test drive the software for free before deciding to purchase. Experience full functionality on demo accounts.
The developer has clearly focused on speed, usability and flexibility when designing this tool. For most traders, these are the qualities that matter the most in a trade copier.
Real User Reviews and Ratings
With a 4.8 star average rating from over 300 reviews, Local Trade Copier EA is one of the highest rated trade copying solutions on the MQL5 marketplace.
Here is a sampling of the positive feedback from actual users:
“One of the best forex products I have ever purchased! This is the greatest tool in my trading strategy…the developer is the most helpful person I have ever encountered.”
“I’ve tested a lot of trade copiers before, but this one is unquestionably the fastest and most reliable one out there. A true workhorse!”
“The copier allows me to seamlessly scale across accounts with different brokers and account types. Flexible and easy to use. Two thumbs up!”
“Blazing fast speeds, very simple to setup and use…does exactly what a good trade copier should do without any gimmicks. Highly recommend!”
The overwhelmingly positive tone across hundreds of reviews is a strong vote of confidence for this software. Users highlight speed, ease of use and reliability as major plus points.
Advantages of Using Local Trade Copier EA
Here are some of the notable benefits you can expect from incorporating Local Trade Copier EA into your trading workflow:
Saves time – No more manually entering the same trades across different accounts. The tool handles replication automatically in the background.
Prevents mistakes – The chance of human error is eliminated. Trades are copied with precision every time.
Allows scalability – Effortlessly expand operations to multiple accounts without additional overhead.
Lets you diversify – Copy trades to accounts with different brokers, account types and base currencies.
Provides flexibility – Customize trade copying behavior as needed with extensive filter options.
Enables multi-terminal access – Manage accounts on the go with mobile MT4/MT5 apps while replication happens in the background.
Lets you stay organized – Track copied trades easily with the detailed dashboard. Monitor performance of each account.
Supports account managers – Provide copy trading services to clients without needing a PAMM or MAM setup.
For active traders juggling multiple accounts, these benefits can translate to better efficiency, reduced workload and less stress.
Check our advanced Forex Scouts Gold V9 Robot
An Inside Look at Using Local Trade Copier EA
While the feature set looks promising on paper, how does Local Trade Copier EA actually perform when put to use?
I tested it out by copying trades between a live MT4 account and a demo account on the same Windows 10 PC. The installation process was very straightforward:
- Download and add the EA file to MT4 terminal > MQL4 > Experts folder
- Load the EA on any chart and select Master/Slave mode for source/target accounts
- Specify copying filters if needed and enable the EA
That’s it! The accounts were synced and ready to copy trades in barely a minute.
The copying speed is blazingly fast – new trades showed up on the slave account in less than 500 milliseconds in my tests. Even high frequency scalping strategies can be replicated without lag.
I executed over 100 trades including pending orders over a week across different sessions. Trade details like open price, SL, TP etc. always matched perfectly on both accounts.
The detailed dashboard clearly tracks all copied trades and shows any trades that couldn’t be copied because of filter rules. This level of transparency is invaluable for monitoring and troubleshooting.
Overall, my experience aligns closely with the glowing reviews from other traders. Local Trade Copier EA works exactly as advertised and is an absolute joy to use!
What Type of Trader Is It For?
Local Trade Copier EA is an almost universally useful tool that can benefit different types of traders:
Account managers / signal providers – Easily distribute your signals across subscriber accounts without needing MAM/PAMM infrastructure.
Multi-account traders – Copy your proprietary system across accounts with different brokers/conditions for risk management.
Expert advisor users – Run EAs on multiple accounts while avoiding broker restrictions on number of instances.
Portfolio managers – Create diversified, multi-currency portfolios by copying to accounts with different base currencies.
Remote traders – Copy to mobile or web platform compatible accounts to manage trades on the go.
Cross platform traders – Bridge trading activities between MT4 and MT5 accounts.
The flexibility of this trade copier makes it a versatile tool for a wide variety of scenarios in retail and institutional trading.
What Could Be Improved?
No software is absolutely perfect, and while Local Trade Copier EA comes very close, a couple of minor improvements could make it even better.
More detailed statistics – Adding metrics on copy percentage, profitability correlation between accounts etc. could help fine-tune settings.
One click update – Updating requires manually downloading the latest version rather than having an in-built auto-update function.
However, these are not significant shortcomings by any means. Considering the reliable performance and competitive pricing, Local Trade Copier EA offers tremendous value.
Is Local Trade Copier EA Worth Buying?
For anyone manually replicating trades across accounts, Local Trade Copier EA is an absolute no-brainer purchase.
The benefits in terms of saving time, preventing errors, scaling accounts and multi-tasking will easily outweigh the one-time cost within a few days of using the software.
With hundreds of positive reviews over multiple years and a track record of reliable performance, you can buy with utmost confidence knowing that:
- It just works – Easy to setup, intuitive to use and runs smoothly in the background.
- It saves you money – Prevents costly trade execution mismatches between accounts.
- It makes you money – Lets you focus your time/energy on high value trading activities.
- It grows with you – Flexible functionality caters to evolving trading requirements.
For less than $100, Local Trade Copier EA is a wise investment that every serious retail trader should strongly consider. This is automation done right!