Default is in the case you have multiple masters; you can define a default value and inherit for all slaves.
You can define the Copier Status at multiple levels (Global Settings, Default, per account, or per symbol), and the most restrictive value is considered.
Only one Risk Factor, Copy Pending/SL/TP, is considered. If you define them at multiple levels, it will override the previous one in the following order: 1) Default, 2) Per Master, 3) Per Symbol