Copy trading is one of the fastest ways to grow a brokerage. Traders who do not have time to analyze charts can follow someone who does. It brings in a different type of client, one who might never open a manual trade but will happily deposit money to copy a profitable strategy.
If you are running an MT5 grey label, you have several options for offering copy trading. Some are built into the platform. Others require third-party tools. This post covers the three main approaches and which one fits different business models.
Option 1: MQL5 Signals (Built Into MT5)
MetaTrader 5 has a built-in copy trading system called MQL5 Signals. It connects to the MQL5.com marketplace where signal providers publish their trading strategies. Your traders can subscribe to a signal directly from the MT5 terminal and trades get copied automatically.
The good part: it works out of the box. No extra setup needed on your end. Your traders open MT5, go to the Signals tab, pick a provider, and start copying. The bad part: you do not control the signal marketplace. The providers are on MQL5.com, not on your platform. You also do not earn revenue from signal subscriptions directly.
For a grey label broker, MQL5 Signals is the easiest starting point. It gives your traders copy trading functionality without any development work. You earn from the spreads and commissions on copied trades, which can add up quickly if a popular signal provider has hundreds of followers on your server.
Option 2: MAM/PAMM Accounts
MAM (Multi-Account Manager) and PAMM (Percentage Allocation Management Module) are account structures where a money manager trades on behalf of multiple investors. The manager places one trade, and it gets distributed across all investor accounts based on their allocation.
This is different from signal copying. With MAM/PAMM, the manager has actual trading authority over the pooled funds. Investors deposit into the PAMM account and the manager handles everything. Profits and losses get split according to each investor's share.
Setting up MAM/PAMM on a grey label requires a plugin or module from your provider. Not all grey label providers include this, so ask before signing up. The ones that do will configure the allocation engine on the MT5 server side.
MAM/PAMM works well if you want to attract money managers and fund managers to your platform. It is a strong differentiator, especially in markets where managed accounts are popular.
Option 3: Third-Party Copy Trading Platforms
If you want full control over the copy trading experience, third-party platforms are the way to go. Tools like ZuluTrade, Myfxbook AutoTrade, and various white-label copy trading solutions connect to your MT5 server via API and provide a branded copy trading interface.
The advantage: you control the branding, the signal provider marketplace, and the fee structure. You can charge subscription fees, take a cut of performance fees, or both. It becomes a revenue stream on top of your trading commissions.
The downside: it costs more and takes longer to set up. You are adding another vendor to your stack. But if copy trading is a core part of your business model, the investment pays for itself.
Which Approach to Start With
| Approach | Cost | Setup | Best For |
|---|---|---|---|
| MQL5 Signals | Free | Instant | Getting started quickly |
| MAM/PAMM | Varies | 1-2 weeks | Attracting money managers |
| Third-Party | $500+/mo | 2-4 weeks | Branded copy trading product |
My recommendation: start with MQL5 Signals. It is free, it works immediately, and it lets you test whether your client base is interested in copy trading before you invest in a bigger solution. If you see traction, add MAM/PAMM or a third-party platform later.
The beauty of running on MT5 is that all three options are available to you. Platforms like cTrader have built-in copy trading too, but they lack the MQL5 ecosystem with thousands of existing signal providers. That existing marketplace is a real advantage when you are trying to offer copy trading from day one.
Key Takeaways
- 1.MQL5 Signals gives you copy trading out of the box with zero setup. Start here.
- 2.MAM/PAMM accounts attract money managers and work well for managed fund models. Ask your grey label provider if they support it.
- 3.Third-party platforms give you full branding control and extra revenue streams, but cost more to set up and maintain.