One of the most popular questions I get about my Remote Trade Copier signal delivery software is if it can deliver the trades to client accounts when MT4 is not running. The short answer is NO, Remote Trade Copier does not copy trades when MT4 is off. You need to run MT4 master and slave accounts 24/5 to send and receive the trades. Read this complete post to learn why is it that RTC works that way and what are other options.
As you may already know the MetaQuotes company does not allow 3rd parties to use direct connection to the MT4 accounts without their official MT4 Server API, which is very expensive and usually available to Forex brokers only. Software that use unofficial API is disrupting MetaQuotes policies and it is just a matter of time when it will be blocked by MetaQuotes.
Now RTC does not use any of those and it is an EA based trade copier. This means you need to run slave account with a RTC Client EA attached at all times to receive the trades from the master account, where Server EA must run at all times as well, in order to send the trades to the clients.
However, you can host MT4 master and client accounts on your own VPS servers and not leave that to the customer. This is what I am doing on my trading signals at vavatrade.com and customers love this option a lot. People who do not want to trust me their MT4 login credentials still can run the Client EA by themselves, but those who are okay with this enjoy by receiving trading signals without running MT4 on their computer.
RTC does not use any MT4 Server API, so even if you are big enough and already have a white label MT4, and if you get an MT4 Server API, you still won’t be able to make RTC work without running MT4′s.
If you do not want to run MT4′s under any circumstances, then you can:
- Look for other trade copier software, but make sure they do not use unofficial MT4 Server API to avoid problems with MetaQuotes.
- Get an official MT4 license + MT4 Server API from MetaQuotes and create your own trade copier software. In this case you will be forced to use only single broker.
- Use broker’s MAM/PAMM solution. In this case you will be forced to use only single broker as well.
Should Trade Copier Expert Advisors still be running?
Any 3rd party Forex Trade Copier can work only if the slave and master Metatrader (MT) accounts are running and have special Expert Advisors (EA) attached. As for the Remote Trade Copier, the Server EA and Client EA must be running on MT4 accounts in order to copy all the trades. The best practice is to host these MT4 accounts on a VPS (Virtual Private Server), eliminating the need to have your computer running for 24 hours a day.
If the MT4 platform is not running, no trading actions can be performed manually or by an Expert Advisor. In other words, the MT4 account must be running somewhere for trades to continue, and login credentials are required for this.
Note that Remote Trade Copier does not launch Metatrader 4 platforms with Server EA or Client EA attached automatically. You need manually start MT4 terminals for each customer and attach Client EA with appropriate password. The RTC makes it easier to manage all MT4s on VPS servers by allowing customers to submit their MT4 login credentials on RTC control panel. If you have a lot of MT4 slave accounts you may want to have staff member to do this work. I do this on my Forex trading signals service and customers are very happy about this opportunity.
How do other trade copier services do this?
There are many Forex Signal Copier programs and services that state that their software does not need MT4 to be running, but unfortunately this is simply a sales trick. MT4 still must be running and companies who say otherwise will simply have the vendor taking care of your MT4 platform hosting. For this to be possible, customers will need to share their MT4 master password and other login credentials with the vendor, as without this information it is impossible to access or copy trades to your account.
What are the options for receiving trading signals automatically?
Basically there are two options:
- Have MT4 running on a customer’s computer/VPS with the Client EA attached.
- Have MT4 running on a vendor/provider’s VPS server with the Client EA attached.
Both methods will achieve the same outcome, but when your MT4 is managed by someone else you will need to give them your MT4 account password. This is not necessarily a problem, but be careful with who you send your login credentials to.
There are cases when the Trade Copier software is created using the so called reverse engineering method. Simply put, this is a nice name for hacking the application protocol. If Metatrader’s developers, the MetaQuotes Company, allowed this, they would simply share all the technical information with the programmers. But the case is that MetaQuotes does not allow use of their software without it running like any other piece of regular software.
How can RTC customers request for MT4 hosting?
Forex Signal providers can take care of MT4 hosting on their VPS server and not leave this to their customers, in fact many traders don’t even try Forex Signal services because of all the trouble they need to go through to keep it online. Without a provider taking care of it, traders would need to download MT4, install it, install Expert Advisor to begin receiving trading signals, attach the EA to the MT4 chart, and setup the operation with the right password and EA settings. Further more, customers will have to run their MT4 platform with the EA attached 24 hours a day.
For an experienced user this is an easy task to do and it takes just a couple of minutes, but most customers don’t know how to download, install and use MT4. Most people do not want to mess will all the technical stuff, and they are often afraid to set something up incorrectly. This could lead to money being lost because of their lack of knowledge.
To eliminate this problem we have added functions for the signal provider to do all the setup work. From a customer’s point of view this is a big advantage. It makes your service stand out from the crowd, as most of your competitors deliver signals by email, on a website or through the software on a customer’s VPS. In other words, clients need to do a lot of hard work to follow your signals. Now with the Remote Trade Copier all they need to do is to submit their MT4 login credentials and wait for the profits, and they can monitor their accounts on their computers using their MT4 investor password. If you will be using Email Alerts plug-in, your customers can get email notifications about opened and closed trades.
Can a customer still host MT4 with the Client EA by himself?
It’s important to note that hosting MT4 on a vendor’s server is optional. Clients can still host their MT4 accounts by themselves with the Client EA attached. This can be requested even after the MT4 was hosted on a vendor’s server for some time, and each customer must decide what is best for his account and his money.
How can a customer adjust EA settings when it’s hosted somewhere else?
When the Client EA with the customer’s MT4 account is hosted by a vendor, the customer cannot access it directly. Luckily, money management and some of the other important EA settings can be adjusted from the Remote Trade Copier control panel website. Customers can do that from anywhere in the world at any time, and changes are applied immediately.