Good-day MQL5 community,
I'm new around here and hope my question isn't too ridiculous.
I recently decided to look into using robots to trade. My concern, above and beyond the robot losing all my money, is the safety of my trading account. Is it possible for providers of these EAs to use them to hack user's accounts?
Thanks in advance for any input,
No it's not allowed to build in external connection.
It's safe to use items purchased through the MQL5.com market place via your MT4/MT5 client application.
If you purchase a third party application (EA, Script, Indicator...) from someplace other than the official marketplace, then YES absolutely it is a security risk.
Any programmer than understands how .dll files are built, can easily hack your system if you install malicious code for them.
Custom .dll files are a security risk and should be avoided.
Much obliged Jack.
https://www.mql5.com/en/articles/586 Very important!
And not only test for profitability (probably slim to none, otherwise it would not be sold). But to confirm the functions do what you expect them to do. Though EA's are subject to a testing procedure. The functionality itself is not tested. There could be bugs in the EA. For example the trailing stop does not work correctly.
If you want to have complete control and 100% knowledge about the workings of an EA, you have to code your own.