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This article takes a look at the best trade copiers on the market for MT5. Forex traders and prop firm enthusiasts, get ready to max out accounts and reduce your workload by copying from one account to other accounts at the click of a button.

Copier Python

Python is a coding language that is clean and object oriented. It can be fast and easy to use with an easy format and logic behind how it is used. Python can be used for a wide array of projects such as trade copying. This python copy trader can send a trade from MT5 over the internet to another MT5 platform or even send a message to something like telegram.

Python MQL5

Python integrates with MQL5 through the MetaTrader module which holds a range of functions including send an order and read account data once you log into your MT5 account.

MQL5 vs Python

MQL5 is the native language to MT5 however python is a fast and easy to code language with a lot less effort required to perform certain tasks. As an example (from a non-coder), many of the variables in MQL5 must be initialised and called, external to the functional program before being used, while python allows you to simply write a couple of lines and be done with it.

There was an argument in the mql5 forum where the person answering a question suggestion to learn MQL5 instead of python. Sometimes you are simply told to ‘go learn’ from this forum so looking for helpful videos on the topic may be more helpful.

MQL5 Python

To access the ability to code an MT5 program using python, you need to run the pip install using the command prompt in your computer.  Installing the pip install for MetaTrader5 will download the required files.

You can see more information on MetaTrader5 · PyPI or simply run pip install MetaTrader5 in the command prompt, assuming you have already got python installed.

MQL5 Socket Python

A socket is a way to transfer information or data from one device to another. Using a socket is a fast way to send specific information over a platform you control rather than waiting on a service like Telegram or messaging app, like in this example.

MQL5 with Python

Using MQL5 with python makes coding some concepts far easier than using the native language (in my opinion). There may be some lost speed in terms of functionality, however outsourcing the processing of code external to the MT5 platform may have some benefits too.

By running python code outside of the MT5 environment, it may help keep the trading platform running smoother so that when it comes to placing or modifying orders, it will be ready to process.

MQL5 Trade Copier

There are a range of options when it comes to trade copiers for MT5 using MQL5 language. From paid options to free options, here’s a list of trade copiers on the market:

FX Blue Trade Copier

Fast Copy MT4 MT5

Python vs MQL5

As mentioned earlier, the reason the Python copier is great is that it operates outside of the MT5 environment, allowing the trading platform and the copier to use separate resources and not combine too much into one place. This seems to help with execution speed. Also, the python copier is easier to work with and make custom outcomes and risk settings, for those more familiar with python over MQL5.

Python Copier

Separating the python copying process from the MT5 platform may help to speed up trading processes. It is also easier to work with which is amazing, where as MQL5 can be a bit clunky to work with. This python copier and video shows how a socket receives trade data from an MQL5 script, then allows python to place that information into a trade on another MT5 platform.

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