Setup Guide
Get Started with PipReaper
Follow this step-by-step guide to go from download to live automated trading. Most users complete setup in under 10 minutes.
Video Tutorials
Watch & Learn
Prefer watching over reading? These video guides cover everything you need.
Step-by-Step
Complete Setup Guide
Follow these 9 steps in order. Steps marked as critical must be done exactly as described.
1
Get a Forex Broker Account
You need a forex broker account with MetaTrader 5 (MT5) support. If you don't have one yet, here are our recommended brokers:
IC Markets: Raw spreads from 0.0 pips, fast execution. Best for experienced traders.
Pepperstone: Excellent MT5 support, regulated in AU/UK/CY. Great for all levels.
XM: $5 minimum deposit, 1000+ instruments. Good for beginners.
Exness: Instant withdrawals, very low spreads. Popular in Africa/Asia.
Pro Tip: Choose a broker regulated in your region. A demo account is fine for testing PipReaper — you can switch to live when ready.
2
Download & Install MetaTrader 5
3
Login to Your MT5 Account
4
Enable Algorithmic Trading in MT5
Critical5
Download & Install PipReaper
6
Activate Your License
7
Connect PipReaper to MT5
Critical8
Configure Your Trading Settings
9
Start Trading!
Pro Feature
Telegram Integration
Get trade alerts, monitor your bot, and control trading remotely through Telegram.
1
Create a Telegram Bot
- Open Telegram and search for @BotFather
- Send /newbot and follow the prompts
- Choose a name (e.g., "My PipReaper Alerts")
- Copy the API token — you'll need it in PipReaper
2
Get Your Chat ID
- Search for @userinfobot on Telegram
- Start a conversation — it will reply with your Chat ID
- Copy the numerical Chat ID
3
Configure in PipReaper
- In PipReaper, go to Settings → Telegram
- Paste your Bot Token and Chat ID
- Click "Test" to send a test message
- Enable the notification types you want
Telegram Commands
/statusCheck bot running status and connection health/balanceView current account balance and equity/positionsList all open trading positions with P&L/startStart the trading bot remotely/stopStop the trading bot remotely/helpShow all available commandsTrade Alerts
Signal Notifications
Daily Summaries
Error Alerts
Remote Commands
Common Questions
Why isn't the bot trading?
What risk setting should I use?
Can I run PipReaper on multiple computers?
How do I get support?
What happens when my trial expires?
Ready to Start?
Download PipReaper and follow this guide. You'll be trading in under 10 minutes.