The Account Settings is used to link your Masters and Slaves accounts and to specify which Masters will copy to which Slaves and with which order size (Risk Factors). You can also define the Maximum Order Size per Masters/Slaves and the Copier Status of the Master/Slave link (On/Off, Open Only, Close Only).
Setup from the Master view
When you manage many slaves with a master account, the easiest is to set the Risk Factor going in the tab “Masters -> Accounts” and click on the “Slaves Settings” button for the master of your choice. In the popup window, you can assign the risk factor of your choice for each slave account separately.
Setup from the Slave view
From the Slave perspective, you can define from which Master and with which risk factor the Slave will copy trades, just go in “Slaves -> Accounts” and click on the “Account Settings” button for the slave of your choice.
In the popup window, you can either define a “Global Risk Factor” that will be used for all the registered masters or you can set risk factors for specific masters only, this setting is located in the "By Master" section.
The “Global Risk Factor” will be used for all masters that you don’t set a specific risk factor.
Setup from the Group view
If you are managing dozen of clients with the same risk factor settings you can use our group management tool in order to set up risk factor in a single place for all your slaves accounts.
First you need to create a new group with the name of your choice, and then define the risk factor in the “Group Settings” and/or “Symbols Settings”.
In the “Advanced Account Settings” popup window, you can either define a “Global Risk Factor” that will be used for all registered masters or you can set risk factors master by master. The “Global Risk Factor” will be used for all masters that you don’t set a specific risk factor.
If you want to copy some symbols with a specific risk factor, you can use our “Symbols Settings” tool and define which risk you would like to take for each symbols separately. It will override any risk factor already defined and if you are trading others symbols not specified in this list the default risk factor will be applied.
Once the configuration of your group settings done, just define this group for all the slaves accounts you want, for this go in “Slaves -> Accounts” and click on the “+” button in the “Group” column next to the account settings.
Setup from the Symbols Settings
If you want to copy some symbols with a specific risk factor, you can use our “Symbols Settings” tool and define which risk you would like to take for each symbols separately. It will override any risk factor already defined and if you are trading others symbols not specified in this list the default risk factor will be applied.
You can also apply this filter for all masters or only for one function of your strategy.
For this, just go in “Slaves -> Accounts” and click on the “Symbols Settings” button for the slave of your choice.
Risk Factor type
The Risk Factor defines the size of the trades that will be copied on your Slave accounts that are linked to your Master Account(s). This can be set using different methodologies depending on your preferences.
Click here to learn more about risk factors management : Risk Factors
Max Order Size
The "Max Order Size" in the "Account settings" is the maximum number of lots that can be copied for a single order (not for accumulated positions). This caps the order size.
If you set a Max Order Size to 10, the maximum lots copied is 10 if there is enough margin, but, of course, if the computed number of lots to copy is smaller than 10, it will copy only this order size computed.
This value does not work like a filter. It means that if the min order size allowed by your broker is bigger than this max trade size, the trade copier copies the min trade size. In this particular case, the system always tries to copy the trade with the minimum allowed value.
If you don't set any Max Order Size (default), the system copies the number of lots computed using the Risk Factor, no matter the order size as long as there is enough margin.
Max Account Position Size
“Max Account Position Size” and “Max Symbol Position Size”: if the cumulated position size on the account or per symbol would exceed this value it prevents the Trade Copier to copy new open orders.
If you combine “Max Account Position Size” and “Max Symbol Position Size”, the most restrictive value will be applied.
For example, if you have defined the “Max Account Position Size” to 0.5, you will be able to open a maximum of 0.5 lot in one direction either buy or sell, that means that you could have at the same time 0.5 lot buy and 0.5 lot sell at the same time, however you will not be able to open a new trade.
In the case you have already a buy position of 0.4 lot and you copy a new trade of 0.3 lot, this new trade will be capped to 0.1 lot in order to have maximum account position size of 0.5 lot.
The max position size includes all orders on the account, from any source, not just those created by the Trade Copier.
Max Account Open Count
“Max Account Open Count” and “Max Symbol Open Count”: if the number of open or pending orders on the account or per symbol would exceed this value, it prevents the Trade Copier to copy new open orders
If you combine “Max Account Open Count” and “Max Symbol Open Count”, the most restrictive value will be applied.
For example, if you have defined the “Max Account Open Count” to 3, you will be able to open a total of 3 positions no matter the trade direction either buy or sell, that means that you could NOT have at the same time 3 buy positions and 3 sell positions.
The max open count includes all orders on the account, from any source, not just those created by the Trade Copier.
Max Risk %
The Max Risk % will define the maximum percentage of your balance to risk per trade.
If no Stop Loss is defined, the Trade Copier will compute the Stop Loss to add according to the trade size and "Max Risk %" defined.
If a Stop Loss is defined at the creation of the order on the master and if that Stop Loss leads to a higher potential loss than the "Max Risk %" defined, the Trade Copier will override that Stop Loss in order to respect the "Max Risk %" defined.
In the case you place a pending order and update the limit price before execution, the Stop Loss will be adjusted accordingly.
Copier status
The copier status will define if the copy of trading is currently active or not, you can choose to copy all trades, or copy open trades only (Open Only) or close a position (Close Only), or to deactivate the copy (Frozen).
