The Fast Copy MT4 utility is designed to copy trades between account sand platforms, it is currently available on the MQL5 marketplace. To avoid confusion, we have included a link below in order to show exactly which piece of software we are looking at. The current version (at the time of writing) is version 3.13 and was last updated on the 24th of November 2019.
The Fast Copy MT4 utility is designed to copy trades between your accounts and different terminals, the software can copy from MT4 to MT4, MT4 to MT5, MT5 to MT4, and MT5 to MT5, although if you wish to copy to MT5 you will need to purchase an additional piece of software for that platform.
The main features of this trade copier are:
- One tool for sending and receiving transactions: [master] or [slave] operation mode can be selected in the program
- One provider [master] can copy trades to multiple receivers [slave] accounts
- One receiver [slave] can copy trades from multiple providers [master] accounts
- Absolutely compatible between MetaTrader 4 ↔ MetaTrader 5 as well as Netting ↔ Hedge order/position accounting systems
- Copying SL and TP — optional. It is possible to set custom SL and TP levels for trades opened by the program
- Copying Buy Limit, Sell Limit, Buy Stop and Sell Stop pending orders — optional
- Receiver’s account [slave] can still trade manually or use other EAs without any conflict
- The ability to copy any characters in any combination. By default, the most suitable pairs will be offered, then you can select any pair
- Ability to copy trades and orders depending on their Magic Number
- Restore all settings and status after the terminal closure
- Easy usage and friendly interface
- Execution speed
There is also a wide range of parameters that can be altered in order to change the functionality of the software. These include things like multipliers, balance ratio, whether to copy buys, sells, take profits, stop losses, and more.
You are able to purchase this piece of software for $55, you are also able to pay for it monthly which will cost you $12 per month. A free demo version is also available, however, we do not know what the limitations of this free version are.
There are 37 reviews on the site which an average rating of 4 ½ stars.
“Good product I have used both fastcopymt4 and mt5, and the author is very responsive. Great Job!” – a 5-star review.
“There must be a bug in the code as the EA has just opened 10 random trades for a major loss.” – a 1-star review.
“Fast copy speed, but partial close doesn’t work -> partially closing the order from the master account will close the entire order on the slave and then open a new one with different price.” – a 4-star review.
So as you can see a mixed bag of reviews, but the majority are very positive, due to the mix in reviews they seem a lot more legitimate. However, when buying new software, we would always recommend downloading the demo version of the software, just to make sure that it does what it is meant to and that you are able to set it up correctly.
This Forex Indicator is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/18932