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Can my broker steal my expert advisor?

October 17, 2013 by Shaun Overton 4 Comments

I get this question often enough that it’s time to put this out on the internet. There are plenty of reasons for traders to remain wary or suspicious of their broker. If you’re using the broker’s software, can they steal the expert advisors in your account that are making money?

Steal MT4 expert advisor

Can the broker steal your EA for MT4 or MT5?

The answer is an emphatic no. I started my career working as a broker and have been involved with forex for 7 years this month. I’ve seen the backend systems and tools that the MT4 brokers use to manage clients and their positions. I’ve also seen them on the floor of one of the MetaTrader bridge companies.

The brokers use a piece of software called the MetaTrader Manager. The manager is basically a database that tracks the open positions and equity for clients. It does not have a button for sucking MT4 expert advisors from client accounts.

Filed Under: MetaTrader Tips Tagged With: broker, expert advisor, metatrader, MetaTrader Manager, mt4

Comments

  1. WhiteSage says

    November 30, 2016 at 00:13

    What about cTrader?

    Reply
    • Shaun Overton says

      November 30, 2016 at 09:59

      cTrader is safe.

      Reply
      • Caio says

        February 17, 2017 at 21:50

        how can you possible be so sure?

        Reply
        • Shaun Overton says

          February 21, 2017 at 14:24

          Because I’ve worked for brokers and used the MT4 Manager. There’s nothing in there for stealing code.

          Reply

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