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?
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.
What about cTrader?
cTrader is safe.
how can you possible be so sure?
Because I’ve worked for brokers and used the MT4 Manager. There’s nothing in there for stealing code.