We do offer an Expert Advisor with our MetaTrader offering! You might be interested in learning more about it and can do so using the following link:
https://www.forex.com/en-us/trading-platforms/metatrader/metatrader-apps/
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Hmmmm, doesnât answer the question.
Do brokers know youâre using an EA
There were multiple âyesâ answers.
So yes, brokers know. Because many brokers offer, for instane, MetaTrader, which has a lot of EAâs installed.
They might not see, which specificly you are using, but they offer them soâŚ
that should answer the question.
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Why not get the answer from the horseâs mouth? The question was about broker practices. A broker actually answered, but not correctly.
@FOREX.com Care to try again for the readers?
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The use of an EA is independent to the client and FOREX.com does not actively monitor EA usage. However, any EAs used would have to adhere to the regulatory polices of that region. In addition, EAs typically contain a unique signature which is visible in the client history. If you have any additional questions or require additional details on this, you can always reach out to our support team by phone (1-877-367-3946), live chat, or email [email protected]. Hope that helps!
Thanks for the detailed answer!
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Sounds like a yes. Maybe not actively, but they know.
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metatrader sends encrypted communications in both directions. i think that only metatrader knows what these messages contains, but i could be wrong about this⌠they could easily download your trading bot sourcecode.
Of course, a broker can see from the activity whether there is a human or a bot. But that is not the point. The question is whether the broker interferes with my trades to my detriment? If the bot goes crazy (e.g. because I have installed a loop where none should go) and therefore the account is blocked for a short time, then this is rather for my protection. So for security reasons, every broker must and should be able to intervene. Otherwise not.
Nevertheless, this happens sometimes. But then that depends on your broker: A broker that offers ECN and STP accounts would not affect your profitable bot. He would harm himself. Because he is interested in you making profit. Only then he also makes profit.
Your orders are passed through directly to the exchange.
The situation is different with a market maker. This type of broker always wins. No matter if you lose or win. Because you buy and sell your orders at the market maker. Sometimes the prices deviate minimally from the real prices. But this minimal decides whether your StopLoss is triggered or not. In any case, the winner is the market maker.
And how should they do that? They should have remote access to your file system?! Metatrader itself sends only order actions to the broker.
how could you possibly know what metatrader does or doesnt do? i am not trying to be rude and i am not suggesting that i know what it does or doesnt do, but i have read comments online where people have had their antivirus flag metatrader as a keylogger, but they usually just blow it off.
who knows?
it is usually better to err on the side of caution.
i am always willing to listen to someone that knows more than myself.
if you can show me something that i am not aware of, i am eager to accept your findings.
kudos.
I have never heard and never experienced that any antivirus meant that metatrader had a keylogger. No software from established antivirus vendors on my servers has sounded the alarm?!
But even big banks use, among many other programs, metatrader. Donât you think that they might pay special attention to what metatrader is doing?
Otherwise, you can also install Wireshark and see what goes in and out there. You will not find anything that would be really strange.
But I see that there is a big knowledge gap in terms of programming and authorization and security levels.
In this respect, you are certainly right that one must be careful in particular. But in the big picture, you can see that illegal activities would be exposed quite quickly.
i enjoy programming, but i never familiarized myself with wiresharkâŚ
Why are you trying to reinvent the wheel? I do not understand. Metatrader is the defacto industry standard. Every broker and trader knows and trusts it. What you can not say about your tinkering. Nobody knows what else you have built into it.
How are you going to explain THAT to an investor? (Remember, he has no idea about programming).
If an investor has to decide between an industry standard and something home-made. What do you think he will take? He will play it safe and take Metatrader.
And if you are afraid that a line should fail⌠You donât really run bots at home over your internet connection, do you?! For demo accounts, this may still be okay. But not real accounts. Because if you want to be sure, you rent a VPS from a provider and there the server is usually connected to a tier 1 line.
Runs so far very well! 
My broker gives the option for a VPS. Upon further reading I found out theyâve partnered with FXVM (an IT service provider) for a monthly service promising 1ms latency times.
Point is there should be similar solutions provided by other brokers out there.
Sounds good! 1ms is extremly fastâŚbest what you can get! Normaly you pay a lot for a Server wich connects to the exchange in 1 ms. Or is your broker a marketmaker?
I donât believe so. Mineâs a small, new & cheap upstart. Itâs Fusion Markets based in AU. They look like completely separate entities though and FXVM claims to be partnered with 100s of brokers and has a dropdown for selection on itâs homepage. The interesting bit is it looks like I get a discount code mentioned on my broker page. Thatâd make sense seeing itâs a broker referral. Itâs possible other brokers have similar codes too. Worth checking out.
Hope it doesnât sound like Iâm promoting FXVM though. There are probably other service providers like this and the 1ms latency could be marketing hype.
Donât think Iâve seen a similar offering been mentioned in the forums and figured it might be helpful to heavy EA users.
Latest update: Oh heck today my brokerâs referring another one with a timed discount. Iâm a bit confused. Note the referral URL with my brokername. Clicking on a URL on my broker page led me here.
Ah, nycservers.com seems good. Iâm at icmarkets and theyâre partnered with nycservers. Here https://broker-checker.newyorkcityservers.com/ you can test the speed to e.g. icmarkets-live server. 3.8 ms is really good! But I donât agree with their plans: 1-3 MT4 Terminals with a Single Core and 2 GB??? Thats a little bit too optimistic for me 
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some brokers now mention that they allow the use of EA so if using 1 of them it would be fine. i also think depending on the type of EA and how often and how it trades would be the only way for them to know if you were using 1
Answer yes: How?
- The function OrderMagicNumber() by default, stores and identifies your EAâs magic number on their server whenever itâs placed a trade.
- The function OrderSend() uses your EAâs magic number to ascribe this number to a trade on their server, it then assigns said number to the âPool of Tradesâ in the Terminal.
- OrderSelect() uses the current and historical data from trades listed currently in the Terminal and those historically listed under your Magic Number and any other trades taken exclusively of your EA. Historical Data contains a history of your EAâs activity.
- Once you enable âAutoTradingâ, the function named âTerminalInfoInteger()â stores the EAâs accessibility data using the constant, âTERMINAL_TRADE_ALLOWEDâ. This function communicates directly with your EA program to grant it access to trade.
So does your Broker know that youâre using an EA? Obviously yes, according to the Mql4 documentation and book, and simply by your EA programs need to communicate with the server and terminal. I canât even fathom why users on this thread are engaging in debates about this question, assuming every programmer here read the Mql4 book and documentation.
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