How to Automatically Copy Orders from MetaTrader to InteractiveBrokers

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How to Automatically Copy Orders from MetaTrader to InteractiveBrokers

If you are an active trader using both MetaTrader and InteractiveBrokers platforms, you may find it helpful to copy your trades from MetaTrader to InteractiveBrokers. This can save you time and effort, as well as help you to stay on top of your trades and manage your portfolio more effectively. In this blog post, we will discuss how to copy orders from MetaTrader to InteractiveBrokers.

Step 1: Download and Install MTIBBridge

MTIBBridge is a software that allows you to copy trades from MetaTrader to InteractiveBrokers. You can download MTIBBridge from the developer's website and install it on your computer. Once you have installed MTIBBridge, open it and follow the instructions to configure the settings.

Step 2: Connect MTIBBridge to InteractiveBrokers

To connect MTIBBridge to InteractiveBrokers, you will need to provide your InteractiveBrokers account credentials. Once you have entered your credentials, MTIBBridge will establish a connection to InteractiveBrokers.

Step 3: Connect MTIBBridge to MetaTrader

To connect MTIBBridge to MetaTrader, you will need to add the MTIBBridge EA to your MetaTrader platform. Open your MetaTrader platform and go to File > Open Data Folder. This will open the folder where your MetaTrader platform stores its data. Look for the MQL4 folder and open it. Inside the MQL4 folder, look for the Experts folder and open it. Copy the MTIBBridge EA file into the Experts folder.

Step 4: Set Up the MTIBBridge EA in MetaTrader

To set up the MTIBBridge EA in MetaTrader, open your MetaTrader platform and go to the Navigator panel. Look for the MTIBBridge EA in the Expert Advisors folder and drag it onto the chart you want to use it with. This will open the MTIBBridge settings window. Follow the instructions in the settings window to configure the MTIBBridge EA.

Step 5: Start Copying Trades

Once you have set up MTIBBridge in both MetaTrader and InteractiveBrokers, you can start copying trades. Whenever you open a trade in MetaTrader, MTIBBridge will automatically replicate that trade in your InteractiveBrokers account.

In conclusion, copying orders from MetaTrader to InteractiveBrokers can save you time and effort, and help you to manage your portfolio more effectively. By following the steps outlined in this blog post, you can set up MTIBBridge and start copying your trades from MetaTrader to InteractiveBrokers in no time.

How to Setting up an account with InteractiveBrokers

Setting up an account with InteractiveBrokers is a straightforward process that can be done entirely online. Follow these steps to set up your account:

Step 1: Go to the InteractiveBrokers website

Open your web browser and go to the InteractiveBrokers website

Step 2: Click on "Open an account"

On the InteractiveBrokers homepage, click on the "Open an account" button located in the top right corner of the page.

Step 3: Choose the type of account you want to open

InteractiveBrokers offers several types of accounts, including Individual, Joint, IRA, Trust, and more. Choose the type of account that best fits your needs.

Step 4: Provide your personal information

Provide your personal information, including your name, address, date of birth, and social security number (or other identification number).

Step 5: Choose your trading experience level

Choose your trading experience level and answer a few questions about your investment goals and risk tolerance.

Step 6: Set up your account preferences

Set up your account preferences, such as the type of account you want to open, the currency you want to use, and any trading permissions you require.

Step 7: Verify your identity

To comply with regulatory requirements, InteractiveBrokers will ask you to verify your identity. You can do this by uploading a copy of your government-issued ID and proof of address.

Step 8: Fund your account

Once your account is approved, you can fund it by transferring money from your bank account. InteractiveBrokers supports several funding methods, including wire transfers, ACH transfers, and online bill payment.

Step 9: Start trading

Once your account is funded, you can start trading using the InteractiveBrokers platform.

In conclusion, setting up an account with InteractiveBrokers is a simple process that can be completed entirely online. By following these steps, you can open an account with InteractiveBrokers and start trading in no time.