InteractiveBrokers offers several ways to automate trading, including copying orders from another trading platform such as MetaTrader. You’ll be able to copy all or some of your orders from MetaTrader to InteractiveBrokers and manage everything with the IB Trader Workstation software. Let’s get started!
Introduction
The process of copying orders from MetaTrader to InteractiveBrokers is a simple one and can be done in just a few steps. Here's how you do it:
- From the MetaTrader platform, go to the Transfer Market tab
- Select Interactive Brokers
- Enter your username, account number, and password.
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Compatibility
This plugin allows you to copy all your orders from MetaTrader 4, straight into your InteractiveBrokers account in a matter of minutes. With the click of a button, you can even choose which order type you would like to copy. There are three ways that this plugin can help with your trading needs:
-You can use this plugin if you are looking for a new broker because it will copy all of your orders over in seconds and there is no need for data input.
Execution
Here is a quick summary of the steps necessary to copy an order from MetaTrader to InteractiveBrokers.
- Log into Meta Trader with your credentials. 2) Select Trade in the top menu and then select Copy 3) Enter the account number and security ID for the account you want to copy your order from.
Limitations
There are many limitations, the biggest being that it is only possible to copy orders from one trading account in MetaTrader to another. It will not, for example, let you copy orders from MT4 terminal onto a separate MT4 terminal. You can also forget about copying orders between different brokers and exchanges. Finally, copying of orders is only available on the Meta Trader 4 platform and not on the Meta Trader 5 platform.
Conclusion
Copying orders between the two platforms used to be a tedious and time-consuming process. Now, with MetaTrader 4's new integration with InteractiveBrokers, copying an order is simple and quick.