The Personal Trade Copier duplicates orders between two (or more) instances of MetaTrader 4 running on the same computer. It is trusted by tens of thousands of traders all over the world, and is even used by brokers to offset risk and liquidity from one server to another.
Communication between the copies of MT4 is almost instant. The speed of trade placement, and any slippage, will depend almost entirely on the latency to your broker and the quality of their trade execution.
The trade copier has a wide range of features. These are covered in greater detail in the user guide:
The sending copy of MT4 does not need the ability to place trades. It can be logged in using the read-only MT4 "investor" password.
The trade copier is based on our QuickChannel library, providing sub-millisecond data transfer between copies of MT4.