Check List Before using Account Copier for MetaTrader
Our MetaTrader Account Copiers are basically working like EA. Hence, to use our MetaTrader Account Copier, you need to have some knowledge of using Expert Advisors in MetaTrader. Here is a quick guide on what to check before using Account Copier. We will be brief only because most of us like a short and concise reading. Before using Account copier, you need to tick on all of these list below.
1. Check if the sender account is active and not dead (Check with broker first)
2. Check if the receiver account is active and not dead (Check with broker first)
3. Check if you have enabled the Expert Advisors to allow Automated Trading in the sender account
4. Check if you have enabled the Expert Advisors to allow Automated Trading in the receiver Account.
5. Check if the sender account has a prefix or postfix in symbol name like EURUSD.m or m.EURUSD, then you need a special way of dealing these prefix or postfix.
6. Check if the receiver account has a prefix or postfix in symbol name like EURUSD.m or m.EURUSD, then you need a special way of dealing these prefix or postfix.
7. Check if the sender account and receiver account are using the same currency. If the sender account uses USD account whereas receiver uses GBP account, then you need to deal with this specially. At least you need to be aware of this.
8. Check if the account balance is not extremely different between the receiver account and sender account. If so, then you need to think about the consequence of copying operation.
9. Always attach the account copier with the sender first, then attach the account copier with the receiver next.
10. If you have changed or if you want to change any things on the account copier (for example, like lot multiplier and so on), then close the chart and open a fresh chart to start the account copier.
Finally, some people ask if they can have a take profit and stop loss. You do not need any take profit or stop loss to be copied. Receiver EA will close any order if the same order in the Sender account is close. Hence, you need to run the Account Copier 24 hours in 7 days in the same computer.