EAs no longer work with prop firms, solution?

[Hemmy]

All my prop firms I’m with are forcing me to move to DXtrade including FTMO. Will there be a way to get EAs working on there? What do we do?

[Alan Northam]

Hi Hemmy,

The Expert Advisors will not work with DXtrade. What you will need to do is to find a forex broker that uses MT4/Mt5, open a demo account and put your EAs there. Then you will need to use a copy trader to copy the trades from the forex broker to FTMO or other prop firms. The only copy trader I know of you can use is TradersConnect. com. However, the app to copy trade from a forex broker to DXtrade is not available at this time but should be available within the next few weeks. What I did with my 5 FTMO challenges was to request a refund which they did honor. So now I am not going to use any new prop firms until all this stuff settles down.

Can you let me know if you are in the United States? I am trying to figure out if this migration only applies to US traders. Thanks!

Alan,

[Hemmy]

thanks for your reply yes good idea and I’m happy you got your refund. I got 2 challenges with Skilled Funded Trader trading bots on and not in the negative in balance or equity and this is their reply to me about getting a refund.

Regarding your request for a refund, we deeply empathize with any inconvenience you might be experiencing during this transition. However, as per our agreed terms and conditions, once an account has been actively traded on, we are unable to offer a refund based on changes to the rules or migration processes. But if your account is upgraded and you do not place any trades, we recommend awaiting the ability to switch platforms, if desired.

[aaronpriest]

If you can’t trade with the platform you BOUGHT it with, then it is no longer the SAME product you purchased. It has substantially changed to something you did NOT purchase, and you don’t have the tools and experience to desire to use a diminished product. If they refuse, call your bank and look into a charge back (but that would be a very last resort). Usually if you are a bit more stern and put it in those terms, IF they are a reputable prop firm, they should give you a refund.

[Hemmy]

thanks, thats a good response. i’ll use it with them and see.

[aaronpriest]

I got refunds of all my MT5 prop firm accounts too. And I’m trying to get a refund of every indicator and EA I have bought from MQL5’s store as well, but that will probably require a class action law suit against Metaquotes. It’s only a matter of time, probably 1-3 months, before DXTrade bans US citizens or the US government shuts them down. cTrader already did years ago, and the new Match Trader just banned US citizens as well this week. The only prop firms that US citizens can use are the futures market, it’s the only market that the CFTC (Commodity FUTURES Trading Commission) and the NFA (National FUTURES Association) want US citizens trading–do you see the conflict of interest here?!

[Steve-M]

I contacted FTMO regarding the use of EAs on both challenges and funded accounts with them, and here is their reply…
————–
Be informed that EAs are allowed at FTMO.

We do not interfere nor give advice on that, we just want to make sure traders understand the maximum allocation per trader/strategy of 400 000$.

As long as your trading is legitimate, conforms to the real market conditions and we can replicate your trades on our live corporate accounts, there is no limitation to your trading style or strategy. If you intend to use trading robots (Expert Advisors – EAs), keep in mind that if you use an EA from a third party, you run into a risk of being denied the FTMO Account if you exceed the maximum capital allocation rule.

[Alan Northam]

Hi Steve,

I have also contacted FTMO with regard to using third party EAs. There response was they only apply the third party rule to funded accounts and not to Challenges / Verification accounts. Petko has also stated you can change the magic number to make your EA unique. You can also change the indicator perameters by the smallest amount allowed in the EA properties box to also make your EAs unique. However, you do not need to do this until your account is funded. I would recommend you contact FTMO again and verify the third party rule only applies to funded accounts.

Alan,

[Hemmy]

so if petko changed his EA number and comment then they would have never known I guess. Or his trades matched other people. Just trying to think how to get around it if we did get funded

[Alan Northam]

Hi Steve,

Adding response you your statement “Be informed that EAs are allowed at FTMO.” In the United States and in the UK FTMO no longer allows the use of MT4 or MT5. So in these countries FTMO has migrated accounts of a web based trading platform called DXtrade. With this platform you cannot trade with Expert Advisors.

Alan,

[Hemmy]

How do they know what a 3rd party EA is though? All EAs are made and we buy and use them. Also if we just change the comment to a random number then how are they going to know what the EA is?

[Alan Northam]

Hi Hemmy,

When funded just change the indicator perameters slightly and then the EAs will not trade the same. Also change the magic number.

Alan,

[costigator]

Hi Hemmy, I was in the same situation and in the end I started using MetaCopier.io where I have my master MetaTrader Account with my EAs and the slave are my prop firms with DXtrade. They have also a trial to test it. Br

[Author]

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