Full disclosure up front: MetaToolsLab is our product. Rather than pretend to be neutral, this comparison is built around objective, checkable criteria — architecture, credential requirements, infrastructure needs, and edge-case handling — so you can verify every claim yourself before choosing.
What actually matters in an MT5 trade copier
After running trade-copying infrastructure in production, we'd rank the criteria in this order:
- Credential safety. Does the copier need your broker password? If yes, your live account access sits on someone else's servers. Copiers that authenticate with an EA key never see your password.
- Architecture. Local copiers need every terminal on one machine (usually a paid VPS). Cloud copiers route signals over HTTPS, so terminals can be anywhere.
- Edge-case correctness. Partial closes, lot-step differences between brokers, and symbol name mismatches are where most copiers silently break.
- Cost per account. Pricing models vary wildly — per-account fees punish scaling; flat tiers reward it.
The contenders at a glance
| Copier | Architecture | Broker password needed? | VPS / same machine? | Free option |
|---|---|---|---|---|
| MetaToolsLab | Cloud (EA + HTTPS) | No — EA key only | No | 14-day full trial |
| Local Trade Copier (ea-coder) | Local | No | Yes — all terminals on one machine/VPS | Trial available |
| Duplikium (trade-copier.com) | Cloud (server-side) | Yes — account credentials held server-side | No | Limited free tier |
| FX Blue Personal Trade Copier | Local | No | Yes — same machine | Free |
| Social Trader Tools | Cloud (server-side) | Yes — account credentials held server-side | No | Trial available |
Characteristics are based on each provider's published architecture at the time of writing — always check their current documentation and pricing.
MetaToolsLab — cloud copying without handing over credentials
MetaToolsLab uses a small EA on each terminal that talks to the cloud over HTTPS. Authentication is a unique, revocable EA key per account — your broker password never leaves your machine. It handles the hard edge cases: partial closes with a lot-step accumulator, per-slave lot multipliers, reverse mode, and symbol mapping. Pricing starts at £9.99/month (as little as £1.50 per slave account), with a free 14-day trial.
Best for: prop firm traders and multi-account operators who want cloud convenience without credential risk.
Local Trade Copier — the established local option
One of the longest-standing copiers in the MetaTrader world, and a solid product. Because it's local, all terminals must run on the same machine, which in practice means renting a Windows VPS and keeping every account logged in there. No credentials are shared with a third party, but you carry VPS cost and a single point of failure.
Best for: traders who already run all their terminals on one VPS and prefer a one-time licence.
Duplikium — server-side cloud copying
Duplikium connects to your brokers server-side, so you don't run terminals at all. The trade-off is fundamental: it needs your account credentials to do that. For some traders that's acceptable; for funded-account holders it's often a deal-breaker — both for security and because many prop firms prohibit sharing credentials with third parties.
Best for: traders who don't want to run MetaTrader at all and accept credential sharing.
FX Blue Personal Trade Copier — free and local
Genuinely free and well-built, but strictly local: master and receiver terminals must be on the same machine. There's no cloud component, so cross-machine or cross-location copying isn't possible.
Best for: a single machine, a couple of accounts, and zero budget.
Social Trader Tools — web platform with account management
A web-based platform aimed at signal providers and account managers, with per-account pricing. Like Duplikium, accounts are connected server-side using credentials.
Best for: signal sellers managing subscriber accounts at scale.
Which MT5 trade copier should you choose?
- You hold funded/prop accounts → never share credentials; choose an EA-key cloud copier (MetaToolsLab) or keep everything on your own VPS (Local Trade Copier).
- Your terminals are spread across machines or locations → you need cloud routing: MetaToolsLab (EA key) or Duplikium/Social Trader Tools (credentials).
- One machine, two accounts, no budget → FX Blue.
- You scale out partial closes or copy across brokers with different symbol names → test that specific behaviour in any copier's trial before paying. This is where copiers differ most.
Frequently asked questions
What is the cheapest MT5 trade copier?
FX Blue's Personal Trade Copier is free but local-only. Among cloud copiers, MetaToolsLab works out to roughly £1.50 per slave account per month on its larger tiers, versus an industry norm of around £8 per account.
Do trade copiers work between different brokers?
Cloud copiers do, including across different symbol names (XAUUSD vs GOLD) via symbol mapping. Local copiers also support different brokers as long as every terminal runs on the same machine.
Is it safe to give a trade copier my broker password?
It's a real risk you should weigh. A leaked or misused password gives full account access. EA-key systems avoid the problem entirely: the key only authorises trade-signal exchange and can be revoked instantly without changing your broker password.
Try the criteria yourself. MetaToolsLab's free 14-day trial includes every feature — test partial closes, symbol mapping, and cross-broker copying on your own accounts before paying anything.