In Forex copy trading, manually replicating trades can be cumbersome and ineffective. For instance, even if you can easily copy the trades of a successful trader using the Best Trade Copier, there’s no guarantee you will be able to execute them in time.
This is because traders often open and close trades within minutes or seconds, making it almost impossible to replicate their activity accurately without automated tools. One such powerful tool is the DX Trade Copier.
This guide explores the DX Trade Copier and how it can help you automate and streamline trade replication effortlessly, ensuring accuracy and maximizing trading efficiency.
One way to achieve your goals with the DX Trade Copier is by using a trading VPS, like the one QuantVPS offers. This solution can help you automate and streamline trade replication by providing a reliable server that ensures your trade copier can run 24/7 without interruptions.
What is DXtrade?
DXtrade is a cutting-edge trading platform for brokers and traders. Developed by Devexperts in 2020, this ultra-modern software-as-a-service platform is responsive, intuitive, and customizable. The multi-asset trading platform provides access to various asset classes, including Forex, CFD, stocks, commodities, SB, futures, options, and cryptocurrencies.
It is designed for proprietary firms, brokers, and dealers to provide brokerage services to the traders. They get several proprietary trading tools in DXtrade, which help them configure custom layouts for their clients. So, it has become a preferred choice among institutional and retail traders.
Why Choose DXtrade?
When choosing a trading platform, every trader wants one that combines advanced technology with user-friendly features and 24/7 support. You want to copy and automate telegram trading signals directly to your trading platform. So you don’t always have to stay in front of the computer screen. Then why not choose DXtrade? Here are some key reasons to choose DXtrade:
Web Trader
Whether you’re executing trades, analyzing market trends, or adjusting your portfolio, DXtrade’s web trader dashboard provides a smooth and intuitive experience through a responsive and intuitive web interface.
Mobile App
Now, connecting and managing trades anytime, anywhere with DXtrade’s dedicated mobile application, designed for iOS and Android devices, is possible.
Brokers Tools
This platform equips brokers with a comprehensive suite of tools to enhance operational efficiency and client satisfaction. Whether you’re a brokerage firm optimizing trading operations or a trader seeking a broker with robust broker support, DXtrade’s broker tools cater to diverse needs reliably.
Instrument Coverage
This platform also allows you to enjoy a wide range of instruments available for trading, ensuring comprehensive market coverage. So why not diversify your portfolio and capitalize on market opportunities confidently and efficiently?
Prop Trading
Another fantastic thing about this platform is that it supports proprietary trading firms with tailored solutions to provide their clients professional experience. It also maximizes profit when trading FX, crypto, CFDs, and spread bets.
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How to Use a MetaTrader to DXTrade Copier
What Is a Trade Copier and Why Use One?
A trade copier is a simple tool that lets traders automatically copy trades from one account to another. The accounts can be on the same platform or different trading platforms. For instance, if you have a MetaTrader account and a DXTrade account, a trade copier can mirror your trades from MetaTrader to DXTrade in real time.
How to Connect MetaTrader to DXTrade Using a Trade Copier
Connecting MetaTrader to DXTrade with a trade copier is straightforward.
Step 1: Install the Copier on MetaTrader
Begin by downloading a trusted copier, such as the one DaneTrades offers, which supports MT4 and MT5. Installation is as easy as adding it to your MetaTrader platform as an Expert Advisor (EA).
Step 2: Configure the Copier Settings
Next, configure the settings based on your needs. Some necessary configurations include adjusting lot size multipliers to reflect the different balances between your MetaTrader and DXTrade accounts, setting stop losses, and ensuring that any custom parameters, such as risk limits, are also applied to the copier.
Step 3: Input DXTrade Account Details
Next, input your DXTrade account credentials to ensure the copier can transfer trades between platforms successfully. This step is crucial for linking MetaTrader with DXTrade.
Step 4: Test on a Demo Account
As with any new trading strategy, robot, or platform, always test with a demo account before copying trades in a live environment. You need to know how well the copier mirrors trades and whether the parameters like stop-loss and take-profit are correctly duplicated. Running a few simple trades on a demo account will help you confirm everything is set up correctly. Once you’ve seen it working on your demo account, you can transition to live trading with small trades to ensure the demo and live servers work similarly.
Why Use a MetaTrader to DXTrade Copier?
MetaTrader has been the platform most traders have preferred using for a long time. And for good reason. It offers automated trading integrated into the platform itself. In addition, custom indicators, many charting tools, and the ability to customize every one of your charts to your liking. Prop firms or brokers are moving to new platforms like DXTrade. Many traders, myself included, have become used to working on MetaTrader to the point where we would consider ourselves experts.
We would prefer to stick to what we know and feel comfortable with, and that’s where a trade copier comes in handy. A MetaTrader to DXTrade copier allows you to keep trading on MetaTrader as usual. The copier automatically copies your trades to DXTrade in real time. This is useful for the reasons mentioned. Plus, if you manage multiple accounts or work with a prop firm that requires DXTrade, you can continue as you have been and focus on trading rather than mastering a new trading app.
The benefits of this are easy to understand. You continue using a platform you’re already an expert on. You don’t have to worry about the stability or usability of an unknown platform. Your choice of prop firms and brokers expands, and most importantly, unnecessary emotions (frustration!) don’t creep into your trading.
Benefits of MetaTrader to DXTrade Copiers for Prop Firms
For traders moving over to, or at least adding the very popular prop firm trading, a MetaTrader to DXTrade copier can be a handy tool. Many prop firms now require traders to use DXTrade, but this doesn’t mean you can no longer use your MetaTrader setup.
A copier lets you continue executing trades on MetaTrader while following the prop firm’s requirement to use DXTrade. For those of you, like myself, who manage multiple accounts, the copier automates the entire process, reducing the chances of (the ever-common) human error and ensuring trades are consistent across all platforms.
Managing Risk
While using a trade copier can simplify your trading, it’s crucial to continue managing risk appropriately. For example, many copiers, like the one from DaneTrades, offer the ability to set maximum daily losses or maximum profit targets, which are invaluable tools for risk management. What this adds is an extra layer of protection.
If, for any reason, the copier gets the protection settings wrong, you have the peace of mind of knowing your capital is safe. It’s also important to regularly monitor your copier to ensure it’s functioning correctly. Don’t become complacent because it automates the process—ensure you’re still checking that trades are being executed as expected.
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8 Best MetaTrader to DX Trade Copiers
1. Effortless Trading with the Telegram Signal Copier for DXtrade
The Telegram Signal Copier automates trade signal execution from your preferred channel to DXtrade. It helps you quickly execute ultra-fast trade signals to DXtrade, reducing manual effort and minimizing potential error. You can access and manage trades remotely to mitigate risks, setting predefined parameters such as lot size, stop-loss, and take-profit levels. The Telegram Signal Copier ensures secure and reliable transmission of trade signals, saves you time and money, and allows customization to make your trading strategies.
2. Traders Connect: The Cloud-Based Solution for Trade Copying
Traders Connect is the premier cloud-based trade copier partnered with DXtrade, a white-label trading platform from software developer Devexperts. It offers smooth cross-platform trade copying with high-speed execution and advanced analytics, providing traders and brokers with a reliable copy trading solution. Due to its cloud-based functionality, Traders Connect does not require software installation and allows smooth trade copying across multiple platforms. The integration means Traders Connect’s services are now available via the DXtrade CFD platform, enabling subscribing brokers to offer its copy trading benefits to their clients.
3. Duplikium: The Fastest Trade Copier for Multiple Platforms
Duplikium is the best trade copier for MT4, MT5, cTrader, DXtrade, TradingView, and more. Copy trades with ultra-low latency between thousands of brokers worldwide across all markets your broker offers, including Forex, stocks and indices, crypto, commodities, futures, synthetic index, and more. Based on the cloud, there is no copy trading software or tools to install, no PC to run, and no VPS to pay. Traders can connect to the Duplikium trade copier anytime, anywhere, and on any device.
4. DaneTrades: Reliable Trade Copying for MetaTrader to DXtrade
DaneTrades offers an excellent option for copying trades between MetaTrader and DXtrade. Their copiers support MT4 and MT5, meaning you can choose the version that best suits your platform. Key features of DaneTrades include unlimited account syncing, real-time execution, and custom symbol mapping. With unlimited account syncing, you can sync trades across multiple accounts, making it an ideal solution for prop traders or portfolio managers who need to mirror trades on various accounts.
The copier transfers trades instantly between MetaTrader and DXtrade, ensuring you don’t miss any market movements. With custom symbol mapping, you can map symbols accurately between MetaTrader and DXtrade, ensuring trades execute correctly even if the asset names differ. DaneTrades also provides comprehensive user guides and video tutorials, making it easy to set up even for beginners.
5. MetaCopier.io: A Simple Solution for Trade Copying
MetaCopier.io is a simple and affordable solution to copy trades between various trading platforms like MetaCopier 4, MetaCopier 5, and DXtrade (cTrader and TradingView coming soon). Unlike some competitors, MetaCopier.io is backed by a registered company, ensuring accountability and trustworthiness in all its endeavors. They offer dedicated instances for each user, guaranteeing optimal performance and reliability.
With up-to-date SDKs available for various programming languages, MetaCopier.io allows developers to integrate smoothly and customize their trading experience. MetaCopier.io isn’t limited to a single platform. With integrations for DXtrade and cTrader, you can connect with the platforms that best suit your trading preferences.
6. Local Trade Copier: A Reliable Trade Copying Solution
The latest Local Trade Copier (LTC) version has been released and now offers integration with DXtrade. Traders can now smoothly copy trades from MetaTrader 4 (MT4) to DXtrade, removing the friction and time costs associated with transitioning between platforms. Many brokers and prop firms switching to DXtrade, Forex, and gold traders have forced themselves to migrate from MetaTrader platforms, leading to challenges for those who have spent years fine-tuning their custom trading bots and indicators.
This transition often involves reprogramming these tools for DXtrade, which is time-consuming and costly. However, with Local Trade Copier’s latest update, traders no longer need to worry about starting over. They can continue using their trusted MT4 setups and trading strategies while having all trades automatically copied to their DXtrade account. This enables traders to use their favorite bots, indicators, and tools on MetaTrader without interruption.
7. Pelican Copy Trading: A Vast Network of Trading Signals
Pelican, known for its white-label copy trading platforms used by major global brokers, will integrate its multi-asset copy trader engine into DXtrade. The new partnership is expected to benefit brokers and traders by providing access to a vast network of trading signals. The integration of copy trading functionality responds to demand from brokers and traders for expanded features within the DXtrade environment. Moreover, it comes as DXtrade reports growth in its user base.
8. Copygram: Unique Features for Copying Telegram Signals
Copygram goes beyond traditional trade copiers by allowing you to copy trades from Telegram channels to multiple trading accounts, including DXtrade, MatchTrader, TradeLocker, MT4, and MT5. Our unique Telegram connector utilizes ChatGPT to analyze signals from channels, ensuring accurate and reliable trade replication. Additionally, it is the first remote Telegram copier that can be installed on both Mac and Windows systems, enabling flexibility in managing your trading accounts across different devices. Enhanced with Copygram’s money and risk management tools, it’s the ultimate solution for your DXtrade accounts.
Key Features to Look for in a MetaTrader to DXTrade Copier
Real-Time Execution: Why Speed Matters for Trade Copiers
Speed is everything in Forex trading. The faster you can execute your trades, the better your chances of capitalizing on price fluctuations. It’s no different for trade copiers. A good trade copier should mirror trades from one platform to another instantly. Any delays could lead to missed opportunities, especially in fast-moving markets, so selecting a copier that executes with real-time precision is essential.
Lot Size Multipliers: Adjusting for Account Size Discrepancies
When using a trade copier, having two differing accounts is common. For example, you may copy trades from a MetaTrader demo account to a live DXTrade account. Because the account sizes may differ significantly, you must adjust the incoming trades’ lot sizes to reflect the accounts’ balance accurately. A lot size multiplier will automatically scale your trades to fit the balance of each account, ensuring proportional risk exposure.
Multiple Account Support: Managing Client Accounts with Ease
A trade copier with multiple account support is essential if you manage multiple Forex accounts, whether for clients or as part of a prop firm. This feature allows you to sync trades across all accounts simultaneously, simplifying the process and helping keep trades consistent across portfolios.
Risk Management Tools: Protecting Your Capital
A good trade copier will also come equipped with built-in risk management features. Some tools include maximum daily loss limits, maximum profit limits, and even symbol-specific limits designed to help you manage risk effectively.
Symbol Mapping: Ensuring Proper Trade Execution
If the same asset has different symbols on MetaTrader and DXTrade, the copier should allow you to map those symbols to ensure proper trade execution. This is particularly important when trading on multiple brokers that use different symbol names for the same assets.
Related Reading
- Replikanto
- Ninjatrader Trade Copier
Deploy a Trading VPS Today
QuantVPS provides high-speed, reliable virtual private servers (VPS) that help traders run automated strategies. Most traders seek a VPS for a copy trading solution to minimize latency and maintain consistent performance. QuantVPS offers ultra-low latency of 1 millisecond. This ensures fast copy trading execution so you can mirror trades in real-time.
The VPS for Forex trading also supports all major trading platforms, including MetaTrader and cTrader. Your copy trading solution will have an optimized environment to run efficiently. You’ll also have access to 24/7 support to help with any issues.