From Forex Tester Software, Inc.
- Forex Trade Copier 3
- Test results of Forex Trade Copier 3 demo version
- Forex Trade Copier 3 analysis from public sources
- Conclusions
Forex Trade Copier 3
The website of Forex Tester Software, Inc. presents Forex Trade Copier 3 deal copier for $199. The demo version is available for download with the only difference from the full version being that the maximum number of trade source and trade recipient accounts is two. In the full version, the number of source and recipient trading accounts is not limited.
Forex Trade Copier 3 is software for local copying of trades. All trading platforms must be running on the same personal computer or VPS.
The advantages of the full version of the copier are indicated on the manufacturer’s website:
– support for trading with any forex broker;
– Management of user lots/risk management of local trades;
– possibility to use different leverage;
– price adjustment and stop loss and take profit settings;
– reverse mode to copy trades;
– symbol name adjustment function;
– lifetime license;
– an unlimited number of source and destination accounts on a local PC or VPS.
According to the manufacturer’s statement, Forex Trade Copier 3 is currently trusted by 4,972 traders in 122 countries. It seems that these figures are fictitious and do not change in different sources of information.
Forex Trade Copier 3 main features:
1. Support for MT4® and MT5®. Copying orders between any MetaTrader® terminal – from MT4® to MT4/5® and vice versa (managing multiple MT4® accounts, managing multiple MT4® and MT5® accounts, and managing various MT5® accounts);
2. Managing the copier problems. The copier software can find and fix problems by itself. All you need to do is use the “Fix” button. Sometimes you need manual confirmation: one click and you’re done!
3. Easy to use. Forex trades copying system saves traders precious time thanks to its simple and handy interface.
4. Additional settings for copying forex deals. The software provides the ability to fine-tune the multi-account forex copier. Lot/risk management, SL/TP settings, price adjustments, order filtering, emergency stop, comment management, and more.
5. Different lot multipliers for different currencies. For example, a trader can open orders on EURUSD with a trading volume twice as big as on the initial account, and on USDJPY – five times bigger.
6. Visual viewing of trades copying process in real-time. “Current Orders” for visual understanding and tracking of copied trades. Easily group trades by account name, current market price, symbol, stop loss, take profit, lot, time, and many other criteria.
7. Advanced copy-trade statistics on the chart in the terminal. Users of Forex Copier 3 can find the following information on the charts: the number of copied orders, their profit, leverage, spread, etc. In addition, the trader can change the copy settings directly from the chart in the copier.
Test results of Forex Trade Copier 3 demo version
My impressions of the Forex Trade Copier 3 demo version are mixed – there are both positive and negative impressions. But first things first.
Installing and configuring the copy manager did not take much time – there were no significant difficulties, and it took me about fifteen minutes in total for this process. However, the first drawback is that the interface language is only English and Japanese. In my opinion, it is not enough for a promising copy manager.
As stated by the manufacturer – on the chart in the trading terminal there are various statistics and the ability to produce settings for the copier directly from the chart. Everything works – there is nothing to complain about. At this point, there are only positive impressions.
Next, I tried copy trading on several pairs at market prices. It may be noted that this function works. Also, when take profit and stop loss are changed in the terminal of the copying source, these operations are automatically copied into the terminal of the copying destination. At this stage it turned out that the declared time of copying transactions of 0.1 second is not always adhered to – I did not measure the average copying time, but even the unaided eye can see that copying time is sometimes a few seconds. When using a scalping trading system – too much time to copy.
I have tested the copying adapter on pending orders and a puncture has occurred here. You can see in the screenshot that a deal has not opened at the copying source and the deal has already gone to the target recipient. You can add the trade with pending orders to the copier.
The copier contains, among other windows and functions, statistics on the current open trades and completed trades. It works correctly.
Forex Trade Copier 3 analysis from public sources
The company’s website provides detailed videos on the installation and use of the products offered in English. There is a FAQ with frequently asked questions. The demo version of the software the company has differed from the sold ones with the only difference from the full version being that the maximum number of source and recipient trading accounts is two. There is no possibility of a refund if the client is not satisfied with the purchased product.
The site has a “Blog” section where one can explore various articles on the subject of trading in the markets.
The age of the site at the time of writing the review is 12 years 2 months and 10 days. The site does not provide a history of the Forex Tester Software, Inc. development – there is only a history of the software and the opportunity to switch from Forex Trade Copier 2 to Forex Trade Copier 3 for a fee.
There are enough materials with a description of the copier in English on the video hosting site Youtube. There are reviews on topical sites and forums about trading. The reviews are exceptionally positive – it can be seen that the copier owners regularly order new positive reviews on the Internet. But I did not find any real reviews on the software in question.
Conclusions
Forex Trade Copier 3 software from Forex Tester Software, Inc. is a highly specialized purchase that cannot be used for a large number of trading systems. My preference would be to trade in the medium to long term by placing buy and sell orders. In this kind of trading, the purchase of the software in question makes sense. In faster trades and buy-limit and sell-limit orders, the Forex Trade Copier 3 copier may not live up to even the weakest expectations of its returns. When purchasing Forex Trade Copier 3, there is no refund for the purchase if the software does not suit the buyer for any reason. The decision to buy Forex Trade Copier 3 software is up to you – the strengths and weaknesses I described in the review.
Website: https://forexcopier.com/products/fcopier3
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