How to manage multiple MT4/MT5 accounts?

I’ve used this service for years: www.autofxpro.com

Their programs work for both MT4 and MT5.

1 Like

I would like to use reverse trade feature, so that I’ll be able to get profit from losing ea. Do you have experience using reverse trade mode of copier?

Indeed it’s great if you’d like to get something out from a losing ea as you said. DId you try it out?

1 Like

I downloaded free demo version of Forex Copier 3 – it works really good so far. I tried reverse mode feature for one of my losing EA (I run it on my Demo MT account) and ForexCopier converts it to the opposite type of orders to my live MT account. So I receive a profit :relaxed: - very interesting feature!

Can i run multiple MT4/MT5 platforms on PC/Mobile at the same time ?

Yes its best to take out some profits from losing EAs. I would recommend to get the license its a one time investment for a lifetime benefit.

As far as I’m aware forex trade copier can only be used locally, like currently I’m using it on my source mt4 fxtm account and using fxview mt5 as the receiver account. I’m only able to manage both my accounts through it when they are on the same system. What I like best is that trades can be grouped as per symbol, profits, market price, stop loss, there’s just a whole lot of options.

I dont think that is possible. What you can do is login one account on desktop app and another on web trading platform.

I see from their website, that there is also remote version of forex copier - it can be used on different PC/VPS
Anyway you can try their free demo

There is Forex copier 2 and Forex copier 3. Isn’t it? What is the difference?

MT4 and MT5 are relatively new and a little difficult in the beginning but once you learn how to use them, it’s like hitting a jackpot

forex copier 2 is more useful for sending out signals so others can copy your trades.

yes, reverse trade is an interesting feature. Provides us with more ways to earn :slight_smile:

Managing multiple accounts can be a bit tough but it is surely recommended for risk management.

Divide your time properly. Try day trading with one and say scalping with the other. I am sure you would not be trading like a pro on all of them. Filter the best ones.

It’s great that you are thinking about having multiple trading accounts but if you think that you will be able to do that from the very beginning, it might not be easy. Start with using one account and when you think you can handle another account also, go for it. Go ahead step by step and don’t try to jump.

I think it is better you start with one first

and please someone should explain how using two accounts affect risk management

Hi,

Forex copier 2 is for copying trades at your local machine between various MT5 or MT4 accounts.

Forex copier 3 Remote- as it denotes remote, its used to copy the signals from 1 remote PC to another remote PC.

Please see the product section on their website.

You should check if your broker offer trader copier. I would suggest you to definitely try this strategy since you are a beginner so it is very important to develop one strategy and be consistent with that