This is the complete, step-by-step guide to setting up an MT5 trade copier with MetaToolsLab — from a fresh account to your first copied trade. MetaToolsLab is a cloud copier: it mirrors trades from one master account to any number of slave accounts across different PCs, VPS providers, brokers, and continents, with no broker password, no shared machine, and no config files. Each account connects with a single EA Key. Built exclusively for MetaTrader 5.
Watch the full setup first
How the copier works
MetaToolsLab uses a publisher–subscriber model over a secure cloud relay:
- The Master EA sits on the account you copy from. On any trade event — open, close, modify, SL/TP change, partial close — it posts the signal to the cloud using its EA Key.
- The cloud relays each signal only to the slave accounts you've linked to that master in your dashboard.
- Each Slave EA polls the cloud and executes incoming signals with that slave's own settings — lot multiplier, reverse mode, SL/TP copying, slippage guard, and symbol mapping.
- One-way: the master only sends; slaves only receive.
- Per-account keys: every account has its own unique, revocable EA Key — your broker password never leaves your machine.
- Cross-broker: symbol mapping and automatic lot-step correction handle broker differences.
- Manual freedom: close a copied trade by hand on a slave and it is never re-opened.
What you need
- MetaTrader 5 (any build) on each machine or VPS involved.
- A MetaToolsLab account with a verified email — the EA downloads unlock after verification.
- A stable internet connection. A VPS is optional; the accounts do not need to be on the same machine.
Step-by-step setup
1. Create your account
Sign up at metatoolslab.io and verify your email. The free 14-day trial includes every feature — no card required.
2. Add your master account
Dashboard → Master Accounts → Add. Enter a name plus the account's broker, server, and login, then copy the EA Key it generates.
3. Install the EAs and whitelist the cloud URL
Do this on every terminal, master and slave alike:
- Download both EAs from Dashboard → Download EAs.
- In MT5: File → Open Data Folder → MQL5 → Experts — drop the
.ex5files in, then restart MT5 (or right-click the Navigator → Refresh). - Tools → Options → Expert Advisors → tick "Allow WebRequest for listed URL" → add exactly:
https://app.metatoolslab.io
Without the WebRequest entry the EA cannot reach the cloud — this is the single most common setup mistake.
4. Attach the Master EA
Drag MetaToolsLab Master EA onto any chart, paste the master's EA Key into the single input, click OK, and enable AutoTrading in the toolbar. The dashboard will show the account as online within seconds.
5. Add a slave account and set its copy rules
Dashboard → Slave Accounts → Add → pick which master it follows → copy its EA Key. Configure the slave's behaviour in the dashboard — nothing is typed into the EA:
| Setting | What it does | Example |
|---|---|---|
| Lot multiplier | Scales the master's lot size for this slave | 2.0 doubles, 0.5 halves |
| Reverse trades | Mirrors in the opposite direction (buy ↔ sell) | on / off |
| Copy SL/TP | Inherit the master's stop-loss and take-profit | on / off |
| Max deviation | Skip an entry if price moved more than X points since the master's fill | 0 = no limit |
| Symbol mapping | Translate symbol names across brokers | GOLD → XAUUSD |
6. Attach the Slave EA
On the slave's terminal: drag MetaToolsLab Slave EA onto a chart, paste the slave's EA Key, click OK, enable AutoTrading.
7. Test with a small trade
Open a 0.01-lot trade on the master. It should appear on the slave in under a second. Check the Experts tab in either terminal for log messages, and the dashboard's trade history for per-slave copy status.
8. Go live
Start small, watch the first hour, and scale up once symbol mapping and lot sizing are confirmed. Your dashboard shows a live online/offline indicator for every account.
Troubleshooting
| Problem | Likely cause | Fix |
|---|---|---|
| Trades not copying | WebRequest URL missing or wrong | Add exactly https://app.metatoolslab.io under Tools → Options → Expert Advisors |
| Trades not copying | Wrong EA Key or unverified email | Re-copy the key from the dashboard; verify your email |
| Trades not copying | AutoTrading disabled | Enable the AutoTrading toolbar button and "Allow Automated Trading" in options |
| "Symbol not available on this broker" | Broker uses a different symbol name | Add a Symbol Map for that slave (e.g. GOLD → XAUUSD) |
| Wrong lot size | Multiplier or broker lot step | Check the slave's multiplier; lot-step differences are corrected automatically |
| Account shows offline | EA not running | Keep the EA on a chart with AutoTrading on — online means it checked in within 2 minutes |
Frequently asked questions
Do my accounts need to be on the same PC or VPS? No — that's the point of a cloud copier. The master can run at home and the slaves on brokers or VPSs anywhere in the world.
Does MetaToolsLab need my broker password? Never. Each account authenticates with its own EA Key; your credentials stay in your terminal.
Can I copy between different brokers? Yes. Symbol mapping translates naming differences and lot-step correction handles sizing differences automatically.
What happens if I stop paying? New trades stop copying, but closes and modifications keep flowing for 72 hours so no position is left unmanaged. Your accounts, settings, and history are kept.
Ready to set yours up? MetaToolsLab is a cloud MT5 to MT5 trade copier with sub-second delivery, no VPS, and no broker credentials — just an EA key. Free 14-day trial, no card required.
MetaToolsLab is trade-copying software — not a broker, signal provider, or financial advisor, and nothing here is financial advice. Trading carries a high risk of loss. You are responsible for your broker's and any prop firm's terms; many restrict copy trading.