Can a broker forbid to use EAs?

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I have two questions, thanks in advance ...


1. Can my MT broker interfere or completely forbid EA usage?

2. Can my MT broker reach to my EA code on my client terminal in any way? I mean ... is there any chance for my code working on my client terminal to be stolen by someone?

 
kemalturgay:

I have two questions, thanks in advance ...


1. Can my MT broker interfere or completely forbid EA usage?

2. Can my MT broker reach to my EA code on my client terminal in any way? I mean ... is there any chance for my code working on my client terminal to be stolen by someone?

 

1. Yes broker can forbid EA trading. The broker can disable EA trading from the MT4 Server settings.

2.No broker cannot reach your EA code. Its impossible. The only way someone can access your EA is by hacking your computer hardrive. Broker cannot do this but your close friend can do this.

Other hackers can use hidden FTP servers that can upload your EAs and indicators to a private server , So just be careful. Do not use any free VPS. Trust no one! 

 
kemalturgay:

I have two questions, thanks in advance ...


1. Can my MT broker interfere or completely forbid EA usage?

2. Can my MT broker reach to my EA code on my client terminal in any way? I mean ... is there any chance for my code working on my client terminal to be stolen by someone?

you must give protection to your EA, with a password that is connected with the account number, and do not show the indicator on the EA, so that your strategy is not readable
 
What is EA? If I suppose that it is trading robot written Mql5 then is it correct?
 
SteelAce:
What is EA? If I suppose that it is trading robot written Mql5 then is it correct?
EA means Expert Adviser. yes. I think all mql members use this word for automated trading. But now i am too confused. Everything automated trading they call ea or excluding signal copying??
 

Thanks a lot Kebaya and İsmail ...

 
SteelAce:
What is EA? If I suppose that it is trading robot written Mql5 then is it correct?
Expert advisor ... you are right that it is a trading programme written in MQL.
 
A broker that forbids an EA is most likely a market maker, and if you ever plan on being a profitable trader you don't want to use a market maker anyways.  Shop around for a better broker.  There are dozens of great ones.
 
and remember to set hidden take profit and stop loss
 
imtav:
A broker that forbids an EA is most likely a market maker, and if you ever plan on being a profitable trader you don't want to use a market maker anyways.  Shop around for a better broker.  There are dozens of great ones.

Not exactly, a broker may forbid automated trading as a security measure for the client...

I've already seen some cases where the broker shuts down a client's automated trading feature in order to protect the client's account. It's easy to imagine a poor-programmed EA, which might send dozens of orders on a short period of time. If the broker identifies it as being a probable EA failure, it might take action in order to protect the client's account.

Regards,
Malacarne 

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