Frequently Asked Questions
Answers to most asked questions about the Expert Advisors offered on site.
Copycat Trade Copier EA
1. How to set up the EA to copy trades?
- Symbol (instrument) names are case-sensitive, so you should specify them correctly, this is crucial.
Also make sure to use only 1 instance of the EA attached on each platform: 1 instance attached on first MetaTrader platform acting as Server (it does not matter on which chart) and 1 instance of the EA attached on the second MetaTrader platform acting as Agent. This is sufficient to copy all trades from Agent to Server. Do not forget to check that the chosen port number 30303 is not used by any other EA or program and can be accessed via firewall/router (if your MetaTrader platforms are located on physically separated computers, i.e. VPS). If you run both MetaTrader platforms on the same local computer, then you can skip this check. Licensing of the EA does not matter if you are using DEMO accounts for tests: the EA works without limitations on DEMO accounts.
2. What are the best settings for copying trades?
- It depends on varius factors, for example the computer power on which MetaTrader platforms are installed (the more, the better), connection speed, geographical location, etc. Generally, on modern PC with 16 Gb of RAM and SSD with high-speed Internet connection you can run flawlessly trades copying within 0.05 to 0.1 seconds - in a blink of an eye.
3. Can I copy trades from multiple accounts on the same platform/account?
- On the same platform/account - no. On different MetaTrader platform/account on same computer - yes.
For example, if you want to copy trades from account 1111 and 2222 at the same time, you'll need to have separate MetaTrader installations on the same machine with separate accounts logged-in (account 4444 will get trades from account 1111 and account 5555 will get trades from account 2222). Just make sure to use different port number in Expert Advisor's settings for every account you are copying.
4. Can I use the Copycat EA on platforms, installed on remote (physically separated) computers?
- Yes, you'll have to open the specified port in EA settings at the
firewall of those remote machines. Otherwise the platforms could not communicate with each other.
For example, you have two computers with MetaTrader platforms, one located in Zanzibar (it's a VPS with IP address 188.8.131.52), the other is at your home. You decide to use the Zanzibar machine as Server (copy trades on this account) and you specified in EA's settings at your home MetaTrader terminal that it is an Agent (copy trades from this account) and the Server IP address is 184.108.40.206 with Port 30399. Next, you have to make sure that port 30399 is open on your Zanzibar computer (either open it in firewall, router, etc.) and the requests to IP 220.127.116.11 can be made on that port from your home computer. Keep in mind that communication between very distant machines may be slow and trade copying may not be as fast as on your local machine.
5. Can I use the EA on MetaTrader 5 "netting" account?
- Almost yes. As long as the account you use to copy trades to is also of type "netting" and if closing of positions is not partial. However, the usage of "netting" account is not recommended.
6. Can I open manually trades on the same account the EA is running on?
- Keep in mind, that you have to use the EA on a clean account (i.e. account without opened positions or pending orders) and you will have to avoid manual trading on this account when the Copycat Trade Copier EA is running. If you trade manually on the same account, this will interfere with the positions opened by the expert advisor and will lead to confusion and automatic closure of manually opened deals. The EA is strict and wants to open trades independently. Put in short, do not trade on this account manually while the EA is running.
Arbiter Forex Arbitrage EA
7. Does forex arbitrage still works?
The expert advisor trades when market conditions for arbitrage are present, read more about the nature of the trading strategy in this blog post.
When testing the EA, consider the couple of things:
- Make sure you have 1 fast (using LMAX, Rithmic or FIX quotes) FX broker and 1 slow broker (usually newly opened brokerage business).
- Do not focus on major currency pairs, instead trade metals (gold, silver, platinum, palladium, copper), oil (crude, wti, brent, natural gas), indices (DAX30, Dow, S&P500, Nasdaq, CAC40, Bovespa, etc.). The reason for this is the nature of quotes - when dealing with currencies the brokers get their quotes from liquidity providers (usually large banks) and there is not much room for arbitrage here, because quotes are largely in equilibrium. However, when dealing with metals, indices, oil, the brokers get their quotes from institutions like CBOE, Setra(in Germany for DAX30), NYSE and here we have room for arbitrage, because of the different implementations of access protocols (FIX, LMAX, etc.).
8. How to set up the EA for trade arbitrage?
- Attach the Arbiter EA on the chart of the instrument of slow broker you want to trade in mode "Server" and fill the necessary fields in settings (most important ones are "Server Port", "Server Hostname/IP Address" and "Corresponding Instrument" - instrument name is case-sensitive). Attach also the expert advisor on the fast broker in mode "Agent" and set the same fields. Keep in mind that the server's port number must be unique for every instrument. For example, if you want to arbiter 3 separate symbols, you should attach the EA on 3 different charts (in both fast and slow broker's MetaTrader platforms) and specify 3 different port numbers.
9. What are the best settings for forex arbitrage?
- It depends on couple of factors, most important ones being the computer hardware on which MetaTrader platforms run (the more, the better). Generally, on modern PC with 16 Gb of RAM and SSD with high-speed Internet connection you can run flawlessly trade arbitrage within 40ms - and even lower if you run trading terminals on VPN geographically close to the brokers in question.
10. What are the requirements for the port number, magic number when using more than 1 instrument for arbitrage?
- The settings depend on instrument, you can take a look at the Documentation section. Also make sure to watch the two YouTube videos on our channel related to Forex arbitrage.
- For example on Gold (XAUUSD) you should use 450-600 points (4.50 - 6.00 US dollars price move against your position) as Stop Loss and around 210-250 points (2.10-2.50 US dollars price move in your favor) as Take Profit level.
- For DAX30 (GER30) it is fine to set 1000-1200 points as Take Profit and 3500-4000 points as Stop Loss.
The above values assume the slow broker is 5-digit broker. General recommendation is to set Take Profit and Stop Loss according your risk management (2%-4% of account capital per trade) and ratio between Stop Loss and Take Profit to be around 3:1.
- Port number must be unique for every instrument you trade. It is a sort of "gateway" - the Agent communicates with the Server through this port number and sends quote-related data for the specified symbol every 40ms (Ultra Fast option). You can start with the default value (30303) and increase the port number by 1 after adding new instrument.
- The magic number is identifier for the positions, opened by EA, so it can be the same for all instruments.
- Regarding other settings - price alignment is also important - bid/ask prices from fast broker (dotted lines) should be aligned on slow broker before trading. We recommend to align bid/ask before session start and before any trading takes place.
- Also do not try to arbitrage currencies, it is pointless, because the currency market is very efficient and cannot be exploited - large enough price gaps in spread almost never occur. Concentrate on indices, metals, oil, gas, commodities, crypto.
- Read more about arbitrage trading at our blog (https://www.algotradekit.com/posts/post-what-is-forex-arbitrage.php)
11. How to increase the number of positions opened per given instrument?
- The number of opened positions is controlled with parameter "Maximum Opened Positions Per Trading Symbol" in EA settings (default is 1). What this setting does is to limit the total number of opened positions per given instrument. If this limit is exceeded, no more trades will be executed if a valid trading signal arrives from Agent.
12. Are there any predefined set files for instrument XXX?
- No, the set files are not available, because even the same instrument is traded differently at a given broker, i.e. the set files cannot be universal. However, you can test and create your own set files for reuse. Follow the general recommendation regarding the position from above question.
13. Is it possible to trade instruments with different names at the slow and fast broker?
- The "Corresponding Instrument" points which trading symbol should be arbitraged on server (slow broker). Instruments between brokers can differ in their names, here is the place to specify the instrument name by the slow broker (case sensitive), it does not matter what is the instrument name by fast broker. For example, Brent oil at fast broker is BRENT_G1, at the slow broker the same instrument is XBRUSD - we have to enter XBRUSD.
14. Can I keep the Price Alignment Offset at zero in EA settings?
- It depends - if initial prices from fast broker match those from slow one then setting the offset different than zero is unnecessary. Sometimes however you must match the quotes: observe the dotted lines from the fast broker over the chart of slow broker and try to adjust the bid/ask values from fast broker with this offset (+ or -) as close as possible.
15. Is it possible to use Trailing Stop or Break-even with this strategy?
- The arbitrage strategy is not meant to use trailing stop - the profit targets are often inside the trailing stop range, so it is impractical to implement it. However, you can use the MetaTrader 4/5 build-in function for trailing stop - right click on already opened position and select "Trailing Stop" and set some value. If you reduce a bit your profit target, choose suitable broker for arbitrage, and use a fast VPN server geographically close to your slow broker - this will greatly improve trading profitability.
16. Can you provide a list with slow/fast brokers for arbitrage?
- No. Finding appropriate brokers would be conducted by experimentation, as performance depends on the distance of your network to their respective servers. Consequently, all customers might have different suitable brokers based on their geographical position.
17. Is it possible to backtest the Arbiter Expert Advisor?
- No, you can't do it. The EA requires data from at least two separate brokers to transact, so back-testing is impossible.
18. Is it compulsory to rent a VPS for arbitrage?
- It is nice to have, but not mandatory. You can use the expert advisor from your home computer and since the trades are short lived, you can trade it only for couple of hours a day during the active sessions (or during news events) and yet earn a good living. It is not recommended to arbiter your broker all day long, it might put your account under review or decline to pay off your profits.
19. Is arbitrage allowed in all brokers?
- Some brokers allow forex arbitrage, some not. Read carefully the terms and conditions of your broker before trading.
20. Which broker should I trade with?
- The lower the spreads, the better, any regulated market maker or MetaTrader broker is the best option.
21. Could the broker destabilise my trading?
- Yes. Some brokers have special anti-scalping software installed on their servers, which may increase the slippage of your orders if they detect suspicious activity. If slippage becomes suddenly too high, disable trading on these brokers.
22. What account balance should I start with?
- As general rule, rather modest account balance is advised when starting with arbitrage. It depends on leverage mostly, but $250-$500 should be sufficient with leverage 1:100.
Answers to questions common for both Arbiter EA and Copycat EA
23. Can I have multiple copies from the EA installed on multiple MetaTrader platforms?
- Yes. If the accounts are yours (you cannot sell, re-sell, rent or lease the software purchased). Just make sure you read the Terms and Conditions of use and install the MT5 version of the EA on MetaTrader 5 and MT4 version of the EA on MetaTrader 4. Don't forget to enable DLL imports in terminal's settings.
24. I cannot attach the EA on MetaTrader 5 / MetaTrader 4 chart, because nothing happens, why?
- First, make sure you have the latest versions of the platforms installed. The Expert Advisor may not work at all on builds less than 1260 on MT4 and builds less than 2450 on MT5. Second, make sure you are using decent version of OS Windows, i.e. at least Windows 7 and your windows version is up-to date.
25. I have troubles purchasing the EA via Paypal, nothing happens on page or payment page does not work, what may be the cause?
- Most probably the reason is in your ad-blocking software. Try to disable ad-blocking
temporary or add both www.paypal.com and www.algotradekit.com in the whitelist in ad-block's settings. Also try to clear your browser's cache and restart it afterwards. If this does not help, the next possibility is that you may be trying to access Paypal via Tor browser/Tor proxy or other IP address, which may be blocked by Paypal. Disable the Tor proxy and try again.
If none of the above works, you may want to contact me for the details about alternative payments - i.e. SEPA bank transfer or payment with cryptocurrency.
26. What is the "License Number" in EA settings?
- Once you purchase the expert advisor, you will receive an email confirming the successful payment. You will find your license number in this email, keep it safe. You will need to enter it in the settings field "License Number" in order for the EA to become usable on real trading accounts, not only DEMO ones. If the system detects malicious activity on your end (see Terms and Conditions for more details) the license number will be revoked and become obsolete. So play fair and the system will play fair too.
27. Do you provide assistance in installation and setting up of the EA?
- Yes, we can arrange installation and setup procedure, it will be free. You have to provide us more details about the software/hardware and operating system, so we can be prepared for the installation. Usually we are available for assistance Monday-Friday (08:00 GMT - 18:00 GMT).