An automated trading program or bot that executes trades based on pre-programmed rules, commonly used in MetaTrader.
An Expert Advisor (EA) is an automated trading program that runs on a trading platform and executes trades without manual intervention. The term originates from MetaTrader (MT4/MT5) but applies broadly to all trading bots.
How EAs Work
- The EA monitors market conditions based on coded rules
- When conditions are met, it automatically places trades
- It manages stop losses, take profits, and position sizing
- It runs 24/7 as long as the platform is connected
Prop Firm EA Policies
Firm policies on EAs vary significantly:
- Allowed: Apex, some forex firms — you can run any EA
- Restricted: Some firms allow EAs but prohibit certain strategies (martingale, grid, high-frequency)
- Prohibited: TopStep and others ban all automated trading
- Partially allowed: Manual entry required, EA can manage the trade after entry
Common EA Restrictions
Even when EAs are allowed, firms may prohibit:
- Tick scalping / HFT: Extremely short-duration trades (< 1 minute)
- Martingale / grid: Strategies that increase position size after losses
- Latency arbitrage: Exploiting price delays between brokers
- Copy trading EAs: Running the same EA on multiple accounts simultaneously
Important Warning
Using a prohibited EA will result in an account breach and forfeiture of any profits. Always verify your firm's specific policy before deploying automation.