All You Need to Know About Telegram Trade Copier

Popular messaging app Telegram hosts multiple channels that provide users with trading signals. However, the biggest challenge is that as a member of the Telegram channel, you must constantly keep an eye on the channel’s activities to ensure you respond to the trading signals at the right time. Moreover, even after getting the signals, you will spend several minutes creating an order, which could lead to missing the perfect entry point. Telegraph Copier intends to solve these problems by automating the process of copying trading signals from Telegram to Meta Trader 4 or 5. If you wish to learn more about this innovative tool, then continue reading.

Exploring Telegram Copier

As mentioned, Telegram Copier automates the copying of trades to Meta Trader. This allows the copy trader to execute trades at the price provided by the signal provider. In addition, the service lets you set parameters for risk management before copying a trade.

Notably, Telegram Copier supports a wide range of languages, so it is able to interpret trading signals written in any language. So, as a copy trader, you do not have to monitor the Telegram channel to receive signals on time if you have this copier. Once you configure it, it will do the work for you.

So, does Telegram Copier support copy trading on a demo account? Yes! If you registered with a broker that offers demo trading, you can use the copier to execute trades without risking your money.

Functions of Telegram Copiers

Automatic Copying of Trades

For Telegram Copier to execute a specific trade, the trading signal must have the following elements: type of operation, current price, stop loss, take profit, and a trading pair. For example, the signal provider should share something like this: Buy EURUSD @1.098, take profit 1 at 1.189, take profit 2 at 1.265, and stop loss at $1.008.

Setting Up Meta Trader Signal Copying

After Telegram Copier recognizes a trading signal, it executes it on a Meta Trader platform. Even after opening the trade, the copier still allows you to make adjustments where necessary.

It is worth mentioning that if you have subscribed to several channels for trading signals, you can limit the number of trades the Telegram Copier can execute within a specific time period.

Backtesting

Backtesting or historical testing lets you project the parameters of a particular trade at a specific time when a similar situation happened on the trading pair. It is advisable to go deeper into the past so you can get results that are more accurate.

Telegram Copier has this function to allow professional traders to conduct proper research before trading. To use this feature on the copier’s website, select a trading pair and a historical date and then set trading parameters. It will seem like you’re trading on a demo account from your broker; the only difference is that the backtesting functionality has the capability to project trades into the past.

Advantages and Disadvantages of Telegram Copier

Before we take a look at the pricing policy of Telegram Copier, here are the advantages and disadvantages of the service.

Advantages

• Telegram Copier has an easy-to-use interface and offers video guides for beginners.
• It’s compatible with various Telegram versions and lets you copy trades on well-known trading platforms, Meta Trader 4 and 5.
• Automates the copying of trades so you don’t have to monitor a Telegram channel throughout the day.
• It allows you to backtest trades. Moreover, you can adjust trading parameters as part of risk management.

Disadvantages

• Telegram Copier does not execute stock trades.
• It doesn’t have a free trial window.

Telegram Copier Pricing

Here are the pricing plans for Telegram Copier:

Monthly ($49) – This plan allows you to connect Telegram Copier to one Meta Trader account. However, you can still copy signals from multiple Telegram channels.

Lifetime ($120) – This plan has the same offering as the previous one, but you don’t have to pay for it every month. Just make a one-off payment, and you will be set to use Telegram Copier for life.

Lifetime ($180) – This plan lets you connect Telegram Copier to two Meta Trader accounts. You only pay for it once.