EA trading Forex Brokers

  1. What is Expert Advisor in Trading?
  2. Best Expert Advisor Forex Brokers
  3. What is a Good EA for Forex Trading Australia?
  4. EA Trading Brokers List

What is Expert Advisor in Trading?

Expert Advisor — also known as a trading robot or an automated trading system — is software that automates and manages trades. EAs are typically used for MT4 and MT5 platforms.

  • Expert Advisors or EAs are edited through MetaEditor interface available on MetaTrader4 or MetaTrader5 platforms and are suitable to create a programmed algorithm of any level, even without any knowledge about the programming itself.
  • Typically EAs or Expert Advisors available at any Broke who offer MT4 or MT5 platforms, see our listing by the links. While EAs in Particular can be either created or purchased through MarketPlace.

Read MT4 page on Wikipedia, also see the official MetaTrader website.

📈Trading InstrumentsAll, as offered by the Broker.
💰 FeesSpread or Commission as defined by Broker
💻 PlatformsMetaTrader4 and MetaTrader5

What is Expert Advisor Platform?

In fact, Expert Advisors are common for MetaTrader Platforms, while many brokers in the forex market offer MetaTrader platforms since are industry-standard and most used software.

See some important notes on EAs Trading below:

  • Since Forex markets are active 24h the robots are sufficient in many cases, than the humans are, especially when it comes to keeping track of price action the entire time along with no involved worries or emotions.
  • Each EA can be designed according to each individual user’s preferences and needs. A well-designed EA can be very helpful with faster order execution and identification of potential setup. It can detect trading patterns and execute them based on the instructions given by the trader.
  • However, EA should be used with caution, because they do not consider time-sensitive market moves based on events or news, so none of Robots can guarantee profits along time.
  • MT4 and MT5 both provide automated trading opportunities, but it’s essential to be aware that there are unique Expert Advisors for each platform. While they have similar functions, the specifics of their operation vary significantly.
  • VPS or Vitural servers are widely used on MT4 EAs, while MT5 platform already features VPS included allowing to run Robots around the clock with no interruption
  • Lastly, many EAs sold on MarketPlace might not be as alluring as it seems, besides to run scams, so it is important to backtest strategies on Demo Account and choose only among reliable providers
EA Trading AdvantageEA Trading Disadvantage
Fast Order Execution Technical Failures Can Occur
Economy of TimeMostly EAs work on one currency pair
Eliminates EmotionsAdditional Cost of VPS
EAs works 24 hours on daily basisDoesn't enhance Traders' tradign Skills
Makes Backtesting EasierEAs do not work during important news and economic events
EAs are good for Beginners

Top 5 Best Expert Advisor Forex Broker

Here is our selection of Best Brokers offering MetaTrader suit with EA trading selected by category and consists of only Regulated Brokers with the highest rankings and good conditions for EAs:

What is a Good EA for ForexTrading Australia?

There are many different Expert Advisors available and offered by brokers. The best EA will still depend on your own needs. For the Australian ones, here are the brokers that offer EAs in Australia: XM, FP Markets, Pepperstone, and AvaTrade.  

Which is the Best Free Expert Advisor for MT4?

There are many Expert Advisors for MT4 available both for free and paid. Among some of the best Expert Advisors for MetaTrader4 are FX Fortnite Expert Advisor, Forex Gump, ForexVPS, and Forex Diamond.

Is an EA Good for Forex Trading?

EAs can be programmed to automatically generate trading signals and notify you of trading opportunities. So, either way, EAs are useful for traders in terms of saving time and finding the best possible solutions for trading. 

Brokers List for EA Trading

Here is the list of Regulated Forex Brokers offering EAs Trading selected by and recommended by our experts:

Broker Detail
HFM Logo HFM
Min. Deposit: 0 US$
Max. Leverage: 1:30 | 1:2000
Trading Platforms: MT4, MT5, HFM Trading App
Regulation: CySEC, FCA, DFSA, FSCA, FSA, CMA
1
HFM Review
BlackBull Markets logo BlackBull Markets
Min. Deposit: 0 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5
Regulation: FMA, FSA
2
BlackBull Markets Review
FPM logo FP Markets
Min. Deposit: 100 US$
Max. Leverage: 1:30
Trading Platforms: IRESS, MT4, MT5, cTrader
Regulation: ASIC, CySEC, St. Vincent and the Grenadines, FSP, CMA
3
FP Markets Review
Eightcap
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, TradingView
Regulation: ASIC, SCB, CySEC, FCA
4
Eightcap Review
BDSwiss Review BDSwiss
Min. Deposit: 100 US$
Max. Leverage: 1:500
Trading Platforms: MT4, MT5, BDSwiss Webtrader and App
Regulation: FSC, FSA
5
BDSwiss Review
GO Markets
Min. Deposit: 0 US$
Max. Leverage: 1:30, 1:500
Trading Platforms: MT4, MT5, cTrader, WebTrader
Regulation: ASIC, CySEC, FSC, FSA
GO Markets Review
HYCM
Min. Deposit: $20
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4, MT5, HYCM Trader
Regulation: FCA, CySEC, DFSA, CIMA
HYCM Review
Pepperstone Review Pepperstone
Min. Deposit: 200 US$
Max. Leverage: 1:30 to 1:400
Trading Platforms: MT4, MT5, cTrader, TradingView
Regulation: ASIC, FCA, DFSA, SCB, CMA, CySEC, BaFIN
Pepperstone Review
JustMarkets Review Logo JustMarkets
Min. Deposit: $10
Max. Leverage: 1:30 | 1:3000
Trading Platforms: MT4, MT5
Regulation: FSCA, CySEC, FSA, FSC
JustMarkets Review
FXCC Review FXCC
Min. Deposit: No minimum deposit
Max. Leverage: 1:30 | 1:500
Trading Platforms: MT4
Regulation: CySEC, SVG FSA
FXCC Review