A Metatrader trade copier means a trading copier for MT4 or MT5 where MT4 expands to MetaTrader 4, the most popular trading platform and MT5 stands for MetaTrader5.
The tool which allows users to copy the trades of the experienced investors is called automated trade copier.
Instead of giving advice, investors would be trading on their accounts as usual. When an investor opens a trade, the same action would be sent to the connected accounts. Thus, the experienced investors get paid for them sharing the trade strategy either through brokers or straight to end users.
The different types of trade copier services are:
Investor’s trade copier:
The easiest way for making use of a trade copier is actually by using Metatrader 4. On platforms like Ctrader, investors can sign up with an account without making any deposit for free. The system either gets connected with your trading account which already exists or guides you to create a new one. The interface is user-friendly which is very easy to learn. All the trade copying providers’ information is fully transparent. This is one perfect place to begin for those who are busy with their job, but still want to become a trade investor. In simple words, after opening an account, you just have to select the strategy providers whose trades you want to copy for which you would receive the same profit as they make.
Trader’s trade copier:
If you are a trader with the experience to trade profits, you can join the platform to provide your trading signals. Some trade copying services won’t have any prerequisites where some have strict requirements to join them as strategy providers. In general, if a trader can trade and make money for himself, he can also make profit from others for helping them make profits. No one will follow the signals of a trader who is losing money. That’s why you won’t find weak performing strategies offered by any copy trader. If you aren’t interested in trade but, has a friend who is very experienced, you can consider teaming up with him. You can create a signal provider profile with which you can attract new followers to his account for which you both can share the profit.