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. To be exact, the Signal Providers (SP) must run RTC Server EA at all times and RTC Client EA must be running at all times to receive those trading signals. 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. In fact, there were even cases when MetaQuotes sued providers that hack its protocols. 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 MetaQuotes 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.
Now RTC does not use any of those and it is an EA based trade copier system. This means MT4 client accounts needs to run 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 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. I recommend that you should offer this as an optional service. 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.
In other words, the MT4 accounts must be running somewhere for trading signals to be send/received, and login credentials are required for this.
RTC does not use any MT4 Server API, so even if you are big enough company 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. Very expensive solution.
- Use broker’s MAM/PAMM solution. In this case you will be forced to use only single broker as well.
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 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 some Forex Signal Copier programs and services that state their software does not need MT4 to be running, but unfortunately in most cases 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.
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. Even though this is a quite simple process, especially for those who use computer quite often, there will obviously be customers who will find this difficult and confusing. However, on the other side, there will also be customers who will NOT trust their MT4 to third parties.
To eliminate this problem, RTC has a special function 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 customers are allowed to submit their MT4 login credentials so that the signal provider (or its team) setup customers’ MT4 on their VPS. In this case clients can monitor their accounts on their computers using their MT4 investor password and they will not need to have MT4 online or any other software running to receive signals from the provider. If SPs will be using Email Alerts plug-in, their 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. RTC 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 that Client EA directly. However, money management and some of the other important EA settings can be adjusted from the Remote Trade Copier control panel website. EA can also be disabled at anytime. Customers can do that from anywhere in the world at any time, and changes are applied immediately.