The MetaTrader Interactive Brokers Orders Copier (MTIBOC), copies orders from one or more existing MetaTrader 4/5 (demo- or live-) accounts to
an Interactive Brokers (IBKR) account. This IBKR account can also be a Financial Advisor account.
All ordertypes are supported. Stoploss and Take Profit are copied as well. Ordersiz can be scaled for IBKR account. MT symbols can be assigned to any IBKR
Software made for Windows operating system. MacOS Users please use Wine or Parallels. For more information please read the answers below.
How the copier works?
Where to buy the MT-IB Copier?
Our expert advisor (EA) reads out all orders placed for your MetaTrader 4/5 account.
You need to attach this EA to only ONE chart. It will detect all orders from all other charts, EAs, scripts, Indicators, etc.
(So, if you attached our EA to EUR.USD and you like to run an EA on EUR.USD, just open a 2nd EUR.USD chart. If you like to run or trade USD.JPY or any other symbol,
no need to attach our EA again.)
The properties of the detected orders, like symbol, price, size, SL, TP are sent to the copier software that creates orders for your interactiveBrokers account. That’s it.
Do i buy a subscription ?
Yes. Except the first options for a one time payment of EUR 10 for 10 days,
you buy a 1-,3,6- or 12 month subscription with autorenewal. You can
cancel this subscription at any time.
Does the price depends on # of managed accounts (visible) in my TWS / Gateway login ?
Yes. As each account can have a benefit by the software, you need a license for each account.
In our shop you just select an according number of licenses.
60 days right of return applies
Is there a test version available ?
Yes. For EUR 10 you can buy a 10 days test version. 1 EUR per day.
Where to get the software ?
Once purchased, you get a download link in our digistore24.com store.
Why should i get it, what are the benefits?
The copier makes MetaTrader available for IBKR at all. There is no such product in the market at this price, as far we know.
When you like MetaTrader but you think commissions are too high or executions prices too far from market, then using a MT demo account or placing low sized orders and scale up for IBKR, using the MTIBOC, can save much money for you, depending on how good executions are with IBKR.
Can the copier feed my MetaTrader charts with IBKR data?
No. This is not possible at all. There is no market data API or broker API in the MetaTrader client. The MetaTrader business concept requires control about market data. They charge you by artificial spread.
Never mind, you can expect very good execution prices on your IBKR account, because there is no artificial spread.
This way, the copier can even save money for you, because IBKR has no dealing desk in between. MetaTrader ECN broker usually charge more than IBKR.
Usually, the market data have the identical sources (the exchange or Interbank FX) and just differ by the artifical spread imposed by MetaTrader broker.
Can i use MetaTrader demo account?
Yes. You can use MetaTrader demo or live accounts. You can also connect to IBKR paper account.
It is also possible to scale orders for your IBKR account, for instance to turn 0.01 lot MetaTrader order into a 10 lot IBKR order.
How to link MetaTrader symbols to IBKR contracts?
You do the symbol mapping. There are default mappings, for the most typical MetaTrader symbols, like EURUSD, etc.
The mapping is done in a table. You can add, delete and change mappings in this table.
It all starts to select the IBKR contract. Then you define which MetaTrader symbols are linked to this contracts.
As you can connect multiple MetaTraders 4/5 to the copier, you can link multiple MetaTrader symbols to an IBKR contract.
The mapping is free, if it makes sense or not. For instance, you can link the MetaTrader EURUSD to the IBKR XAUUSD. This makes it possible to link
MetaTrader stock CFD to IBKR real stocks.
When link a symbol to an IBKR contract, you can also define how many shares are placed for the IBKR account when you place 1 lot for the MetaTrader symbol.
Can i trade options, stocks, futures?
Options, Futures usually not. Generally it depends on your MetaTrader broker. Remember, this is a copier. All starts with an order for your MetaTrader account, so with a MetaTrader symbol. So you need an existing MetaTrader account, demo or live.
If this MetaTrader broker has options, futures, stocks, you can link them to the IBKR options, futures, stocks.
Usually MetaTrader broker just have CFD on stocks, metals, commodities but not options or futures.
No problem: You can link a MT stock CFD to an IBKR real stock, or IBKR stock CFD, etc..
Can i scale the ordersize for my IBKR order copies?
Yes. There are various methods.
- Shares per lot multiplier. Per symbol linkage (mapping) you define how many shares are placed for my IBKR order when i place 1 lot for my MetaTrader account.
By default, for forex symbols, this value is 100.000. One hundered thousand. That means, that 1 lot MetaTrader order is copied to a 100.000 shares IBKR order.
- Instance multiplier. You can define a size multiplier per connected MetaTrader instance. Let’s say this multiplier is 10, then the order copy is 10 times higher on IBKR side. (It is muliplied subsequently to the shares per lot multiplier).
- Balance relation multiplier. This multiplier is on or off and calculated automatically. When enabled, it multiplies each ordersize by the relation between IBKR account balance and MetaTrader account balance. Example: MetaTrader account balance is 10.000. IBKR account balance is 100.000. So 10 times higher. Then each IBKR order copy is 10 times higher then the MetaTrader original order. The balance ration multiplier, if enabled, is set on top of the prev. multipliers.
Can i be long and short in EUR.USD on IBKR account?
No. Interactive Brokers accounts are net accounts. When you place a 1 lot buy EUR.USD order in MetaTrader and a 1 lot sell order in EUR.USD you are flat in your IBKR account.
If you then close the 1 lot buy order in MetTrader, your are short in your IBKR account.
If you then close the 1 lot sell order in MetaTrader, you are flat again in your IBKR account (and MetaTrader account).
Does it support IBKR Financial Advisor (Familiy) accounts?
Yes. Financial advisor accounts are fully supported. You can set the allocation per MetaTrader intsance connected.
This way, you can server different groups of customers with different strategies.
Do i need to run the copier and MetaTrader and TWS / Gateway all the time?
Yes. We have no backend access to your MetaTrader broker or Interactive Brokers. Therefore, to maintain copy, you need to run all the components involved
all the time, when you like to copy.
IBKR forces TWS / Gateway to close every day. What can i do to keep copying running?
In the TWS / Gateways API settings is an option to autorestart TWS / Gateways at the specified time. The copier can deal with restart.
You just need to login once per week. Do the login with login device at weekend. So during the week, TWS / Gateway just restarts and no login required.
The copier automatically reconnects to TWS / Gateway once they are up again.
Do you recommend a specific TWS / Gateway version?
Can the copier run on a VPS?
Yes. We recommend to run all components: The copier, TWS or gateway and all MetaTraders on a VPS.
VPS has to be Windows 10 compatibel system. (Windows 10, Windows 2016, Windows 2019).
Attention: Be careful with MetaTrader VPS. They sometimes do not allow to load DLLs into MetaTrader.
But this is essential for our copier, because a DLL makes the communication between MetaTrader and the copier.
What are the system requirements?
We recommend a machine with at least 2 Cores >= 3.0 GHhz and >= 6 GB RAM.
Windows 10, Windows 2016 or Windows 2019 required.
Can you recommend a good MetaTrader broker?
No. The MetaTrader broker depends on your requirements. Mainly, what symbols you like to trade.
Demo accounts with free quotes are available from nearly all MetaTrader brokers. Either when you fund some money
for a real account and then request a demo account or just get a demo account for testing the broker.
The manufactor of MetaTrader, MetaQuotes offsers demo accounts with most forex pairs, some metals.
(scroll down for MetaTrader 4 download options)
Do you provide any support?
After installation a setup and configuration explainer video is started, that explains nearly all.
There is also a help accessible from the copier, with trouble shooting page.
We also have forum where you can register and post your questions for free:
Once registered, please write an email to email@example.com
so we can approve your user.
In exceptions we help via TeamViewer.
You also can buy support hours. Please send us a request.