Hi, I make forex robots :)

Hi all, been aware of babypips for a while / read many an article, but didn’t realise you had a forum so thought I’d sign up :slight_smile:

I starting teaching myself to code about 10 years ago, and over the past three have turned that to coding EAs / forex bots

I’ve launched several successful Experts, but always on the look out for new strategies to adapt, connect with people and learn about everyone’s experiences. I guess that’s about it!


Welcome to the Forum! I have some experience with EA’s and know it takes alot of time to get right with all the backtesting needed. I’m from the US so wasn’t able to stick with it because metaquotes pulled the plug on US residents. good luck with your trading journey :slight_smile:

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Hi, thanks! Yes it taken a lot of backtesting and live testing to get a true feel for what makes something work vs not - what do you mean by metaquotes pulled the plug on US residents - you can’t open an mql5 account?

MT pulled the license on unregulated brokers. I think it may just be MetaTrader Mobile… I can still use the desktop app fine.

yeah, i use prop firms that are non-CFTC regulated and they can’t use mql5 for US residents

Interesting - all I knew about was Apple temporarily pulling MT mobile apps for a while then re-enabling them. The global regulation around forex is really interesting, as an algo trader that’s one thing I haven’t really figured out e.g. UK legislation says spread betting is gambling so is tax free, where other countries wholly disagree and charge taxes. I mean, what does it say that different countries classify the same thing in different ways?

US taxed on gambling profits as well, reported by casino. Added to earned income for that year.

Global regulation is all over the place… Except on Forex were the standard for Regulated Brokers is 30.1 leverage on Currencies… 5.1 on Stocks… 2.1 on Crypto… Along with zero balance protection…

In Australia and New Zealand… Casino wins are not taxed… Although if you were making a living (say ~$30k plus pa) out of this enterprise… I’m sure the Taxman would be knocking on the door…

CFD trading… No matter what the instrument is classified here as Sophisticated Investing… If you are a fulltime trader (me) you only pay the standard income tax rate (~27%) with costs (Spread/Commissions, SWAP) and losses claimable against taxable earnings…

If you just trade on the side of a full time career… Expect to be slugged the Capital Gains tax rate of around 50% of funds drawn out from your Brokers account…

Most players with small(ish) accounts don’t bother informing the ATO… Profits and losses are swings and roundabouts… It could get ugly if the Tax Office every feels the need to audit your finances…

oh that has quite gotten my attention. So, can we order a robot with specific functions and you create for us?

The facts have become a little confused, it seems, in this thread.

US residents can open MT4 and/or MT5 forex accounts with no problem at all, provided that the broker offering the platform is CFTC-regulated.

Contrary to the impression given in several posts above, this issue is actually about regulation.

Brokers like Oanda and forex.com are offering MT4/MT5 to US residents, because they’re both CFTC-regulated.

The US futures brokers offering MT5 (of which there are several) are all continuing to offer it.

The problem arises (understandably enough) only in the case of non-CFTC-regulated CFD “brokers”.

Thanks for clarifying :+1:

@S_Jane_M The OP was about EA’s in these markets… But since we are still off topic…

For traders playing this game using MT4 or even MT5 you are already starting way behind the 8 ball… MetaTrader have already started winding down support for both these clunky, slow, feature devoided platforms…

Tradingview and the information available with it is a far better option for CFTC-regulated traders than Metatrader’s Win95 based offerings.

Ctrader from Spotware is another superior option for those that Trade these markets who are outside of the US…

Hey there, welcome! How long have you been trading? Or do you trade at all?

Hi, about three years, what about you?

Welcome! Looking forward to hearing more about your trading experiences. See you around!