Signal Magician is for independent signal services.
Signal Magician is a remote trade copier that can copy trades between an unlimited number of MT4 accounts located on different computers anywhere on the internet. Trade copying, in this case, happens through the internet. MT4 accounts can be located in different countries or on the same computer. This means your clients do not need to give you their MT4 password but receive trades directly to their MT4 anywhere in the world by running Client EA on MT4.
Signal Magician also has a control panel that comes in the form of a website where you can manage your client access. We do the hosting of this web panel, so you do not have to worry about this. You only have to take care that each MT4 is running with the Client EA to receive trades. You can host each MT4 platform on your Windows VPS servers or leave this to the customer, and they will have their MT4 running on their computer.
Signal Magician was built for those who want to have an independent trade copier service (signal service) and run it as a real business. If you’re selling trading signals on social trading networks, you don’t actually have customers but only followers. The moment you have to switch accounts, create a new signal, or your account gets shut down for whatever reason, you won’t be able to contact those followers and invite to another place for a new service or product. But with Signal Magician, it is different. Every client you connect will come with their email address and even phone number if you prefer. This means you can contact them anytime regarding any question or offer.
Signal Magician can also send email and SMS trade alerts to notify about trading signals. Also, users can be notified by email when MT4 goes offline.
Signal Magician connects with payment systems like PayPal and Stripe, which means you won’t have to pay 20% commissions (or more) to your signal network and receive payment directly to your account. You can charge your customers a recurring fee, and there’s also a possibility to charge monthly performance fees too.
Signal Magician also allows clients to follow unlimited Signal Provider accounts and receive all trades to the same MT4 account with an option to set different risk size for each Provider they follow. This is not possible with most social trading platforms where only one signal can be copied on the client-side per MT4 account. It is very inconvenient to have 10 MT4 accounts to follow 10 signals, and Signal Magician solves that problem.
Local Trade Copier is for retail traders and small-signal services.
Local Trade Copier is a copier that copies trades between MT4 accounts on the same computer. It means your friends and clients will have to give you their MT4 login and password.
LTC does not have a web panel to control user access, but since you will have MT4 client account passwords to run them on your computer, you will still control who is receiving your trades.
Local Trade Copier price is affordable nearly for anyone and can be set up in minutes.
Also, Rimantas have created an MT5 Trade Copier that can copy trades between MT5 accounts. It is also compatible with the Local Trade Copier for MT4. Both trade copier programs come as separate products, but if you buy both, you can also copy trades from MT4 to MT5 and MT5 to MT4.
|Functionality||Signal Magician||Local Trade Copier|
|Web panel on your sub-domain||Yes||No|
|Copy trades when MT4 accounts are on different computers||Yes||Yes (with limitations)|
|Automatic access creation after payment (PayPal, Stripe)||Yes||No|
|Control user access (with a password and expiry date)||Yes||No|
|View MT4 trading history online||Yes||No|
|Integrates with MailChimp email marketing software||Yes||No|
|Forex signals by email and SMS||Yes||No|
|Monitoring status of each and every Server EA & Client EA (notifications by email)||Yes||No|