Prop Trading Firms 
Expert advisors or EAs for short, are automated trading strategies that have been developed to trade automatically in the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. They are often referred to as trading robots, with forex robots being some of the most popular expert advisors for prop trading. Aspiring prop traders are looking to use prop firm EAs such as the Forex Flex EA to pass trading challenges and get a funded account.
Prop firm expert advisors can analyse the trading instrument charts that you attach them to in the MetaTrader platforms for trading signals. Each EA will have a unique trading strategy that is programmed into its algorithm. When the EA finds a buy or sell signal according to the built-in strategy, it can place and manage trades on behalf of the user. We have tried and tested some of the best prop firm EAs if you are looking for some inspiration.
FTMO Review
The Funded Trader Review
SurgeTrader Review
My Forex Funds Review
E8 Funding Review
FTMO is our top prop firm that allows EA trading. You have total control over your trading approach with them. They have no justification for limiting or restricting your trading approach, including algorithmic trading, EAs, hedging, discretionary trading, etc. There are no restrictions on your trading style or plan as long as it is legal, complies with current market circumstances, and can be replicated on real funded accounts. FTMO provide funded accounts up to $2,000,000 with an industry leading 90% profit split. You can use the MT4, MT5, and cTrader trading platforms with liquidity provider data if you also trade as a retail trader.
Even your choice of trading instruments or position size is unrestricted by FTMO. All the instruments and resources that are accessible on your trading platform (forex, indices, commodities, stocks, cryptocurrencies, etc) can all be traded with expert advisors. You have total freedom with this prop firm and they will be pleased to see you benefit alongside them if your system is successful while adhering to the trading rules.
If you plan to employ trading robots (also known as expert advisors, or EAs) be aware that if you use an EA from a third party, other traders may already be utilising the same EA and, consequently, the exact same method. If you use a third-party EA and go above the maximum capital allocation limit, you can run the risk of having your FTMO Account rejected.
Please be aware that platform servers can only handle 200 orders at a time and a maximum of 2000 positions per day, as well as restricted server communications (orders and order revisions such updating TP/SL and updating limit orders). They may notify you and request that you modify the EA logic or strategy settings if your EA produces excessive activity on a platform server.
You should also be cautious of risky trading strategies that have little in common with consistent and informed trading. FTMO retain the right to take the necessary steps to reduce risk if they discover deliberate actions or a Modus Operandi being used on numerous accounts. This might take the form of eliminating the opposing positions, rebalancing the account, lowering leverage, or closing the account entirely and stopping all of their collaboration. As with any prop firm, you should trade ethically and demonstrate your competitive advantage and exemplary consistency for them to give you a funded account.
FTMO Editor choice
Whether it be algorithmic trading, expert advisors, hedging, or discretionary trading, E8 Funding do not restrict or limit your trading approach. You may use whatever trading tools you choose and have complete total control over your trading strategy. There is no restriction on your trading style or method as long as it is legal, complies with current market circumstances, and can be replicated on live funded accounts.
Even your choice of trading instruments and position sizes are unrestricted by this prop firm. There is just one prohibition on using high frequency expert advisors or abusing the market feed. To ensure that the risk is dispersed, they only let individual strategies to be developed by each trader Therefore, they do not permit many traders trading for E8 to employ the same EAs or algorithms.
As long as you use proper risk management and abide by all trading goals and rules, you are free to trade any instruments or assets that are offered by your trading platform. E8 Funding currently offer MT4/MT5 web trader, IOS and Android app as well as MT4/MT5 desktop applications. You will need the desktop MetaTrader platform to run expert advisors. You could also rent a virtual private server (VPS) to run your automated trading strategies 24/7 without needing your own computer running.
E8 Funding provide global Forex and CFD traders with funding using a cutting-edge technology. They are also traders that are passionate about finding undiscovered trading talent that want to pass trading challenges to qualify for a funded account. E8 Funding has made an effort to develop distinctive financing alternatives as well as a user-friendly path to become a qualified, funded trader, allowing prop traders to remotely manage their capital from any location in the globe. You can get access to trade up to $1,000,000 with a healthy scaling plan and 80% profit share.
E8 Funding
SurgeTrader are another prop trading firm that do not limit your trading style or strategy, in any way. Whether your strategy involves discretionary trading, hedging, algorithmic trading, or anything else, you can use it with SurgeTrader. The only requirements are adherence to the trading rules which are simple and fair. They have realistic profit targets with generous maximum drawdowns and daily loss limits.
Traders can execute trades on a variety of CFD market instruments — including Forex, cryptocurrency, metals and energy, stock indices and lots of individual stocks. You can choose between Eightcap MT4 and Eightcap MT5 — all offered through their partner broker EightCap, which are considered the universal platforms in the over-the-counter trading industry. MT4 and MT5 accounts trade on the Raw account types at Eightcap which have excellent trading conditions including tight spreads, low fees and quick trade execution speeds.
SurgeTrader provides funding to traders, allowing them to increase their trading profits. Trades must first pass an audition to prove they have the knowledge and discipline to be successful traders in order to become funded by SurgeTrader. Traders will receive a funded account of up to $1 million when the transaction is completed. 90% of the profit that traders make is kept in their funded account. All of this and more make SurgeTrader one of our top forex prop firms.
SurgeTrader Best seller
One of the top forex prop trading firms is My Forex Funds. It has established itself as the industry leader with more than 300 employees worldwide and more than 2000 clients every day from all around the world. In order to provide Funded trading accounts to more people who want to take use of their abilities, My Forex Funds provide a great choice of trading challenges with favourable trading conditions and achievable profit targets.
Using third party expert advisers is allowed with My Forex Funds so long as it is not managed or traded by another party. All signals must be your own and based on your own set up. You are allowed to use a trade copier as long as you are copying your own trades from your own accounts. You can use EAs as long as they are not used in the following ways:
- Account management services
- Copy trading of other persons signals
- Tick scalping
- Arbitrage trading
My Forex Funds provide both the MT4 and MT5 which is ideal for anyone who is looking to pass a prop firm challenge using expert advisors. They have high leverage all the way up to 1:500 which is rare to find with any prop firm. You can get a refund of the registration fee if you pass the evaluation process. The profit share of 90% is very generous and you can choose from weekly or bi-weekly payouts.
My Forex Funds
Expert advisors (EA’s) are permitted on The Funded Trader Royal account. You can use as many indicators as you want for manual trading because indicators are not expert advisors. Although one indicator is completely acceptable, no EA or script may follow more than one indicator.
| 50K | 100K | 200K | 400K | |
|---|---|---|---|---|
| Account Balance | $50,000 | $100,000 | $200,000 | $400,000 |
| Challenge Leverage | 1:200 | 1:200 | 1:200 | 1:200 |
| Minimum Trading Days | 5 | 5 | 5 | 5 |
| Phase 1 Target (35 Days) | $4,000 USD (8%) | $8,000 USD (8%) | $16,000 USD (8%) | $24,000 USD (8%) |
| Phase 2 Target (60 Days) | $2,500 USD (5%) | $5,000 USD (5%) | $10,000 USD (5%) | $15,000 USD (5%) |
| Max Loss | $5,000 USD (10%) | $10,000 USD (10%) | $20,000 USD (10%) | $30,000 USD (10%) |
| Max Daily Loss | $2,500 USD (5%) | $5,000 USD (5%) | $10,000 USD (5%) | $15,000 USD (5%) |
| Expert Advisors | Yes | Yes | Yes | Yes |
| Profit Split | 80% | 90% with Scaling | 80% | 90% with Scaling | 80% | 90% with Scaling | 80% | 90% with Scaling |
| Drawdown Type | Equity & Balance | Equity & Balance | Equity & Balance | Equity & Balance |
| Refundable Fees | $289 USD | $489 USD | $939 USD | $1,399 USD |
It’s crucial to remember that when using prop firm EAs on the Royal Account, you must also adhere to all of the Terms of Service’s other rules, including but not limited to:
- Prohibited Trading Strategies
- Copy Trading from Third Party Signals
- Account Management Services
- Arbitrage Trading (Latency or Reverse)
- Grid Trading
The Funded Trader Best price
If you are thinking about passing a prop firm trading challenge to get a funded account, then expert advisors can be a great way to try and to it automatically. This can save you the time and money it requires to learn how to become a profitable manual trader. That being said, you should always check to make sure that the prop trading firm you are considering does allow automated trading with EAs. If they do, you will want to make sure that the prop firm EA has the relevant settings that can be adjusted in order to make sure that it complies with the trading rules and can reach the challenge objectives.
If you want to try a prop firm challenge with an EA, please feel free to download our free prop firm EA. It is designed specifically with prop trading in mind, including adjustable settings for money management, trading days, trading hours, maximum drawdown and much more. Whatever prop firm EA you choose, it is important to make sure that you understand exactly how it works. You can always test the expert advisor on a demo account to begin with before using it for a trading challenge or trading on a funded account.
