Based on research, it seems many prop firms that allow HFT bots, EAs and Algo trading for an evaluation account, but apply some restrictions to certain trading systems and strategies. These limitations make it difficult for traders to fully take advantage of the market by deploying any EAs of their choice to trade the challenge. Fortunately, we found prop firms that allow EAs, HFT, and Algo for fully automatic trading at any time, allowing traders to trade with any EA without limits.
Proprietary trading firms EAs have become a popular choice for traders who want to trade with ease and pass accounts without the need to do manual trading, making trading less stressful and faster. For example, I passed a $15,000 Phase Two evaluation today, in less than 3 hours of trading with the use of auto trading. It was so easy and fun, unlike manual trading.
Table of Contents
Importance of EAs in Passing Prop Firm Challenge
To get funded by a prop firm, traders are required to successfully pass the challenge phase which is a way to prove they can manage risks, except they opt for an instant funding option. However, not all traders have the required knowledge and skills to successfully pass a challenge.
As a result of this inefficiency, the use of automatic trading software known as Expert Advisor was introduced to help those who can’t do manual trading still benefit from the financial market.
To make this arrangement work, many prop firms started allowing traders to make use of Expert Advisors (EAs), to automate their trading activities, these software analyzes the markets and places/closes trades on behalf of the trader, giving them the same performance or even better as a manual way of trading.
This article will reveal the 10 best prop firms that allow EAs by traders of any type for their trading activities. We will briefly discuss the features and benefits of each prop firm including their trading rules, and fees. We will also discuss how EAs work and how they can help traders improve their trading results especially to pass the prop firm trading challenge and evaluation.
Whether you are a beginner or an experienced trader who prefers to use this automated system of trading, finding the best prop firm that allows EAs for full trading style is important. This article will help you find a prop firm that suits your auto trading system. So let’s go…
What Prop Firms Allow EAs Trading (HFT)
Several prop firms allow EAs and allow traders to make use of Expert Advisors to automate their trading strategies. These firms allow traders to apply automatic trading strategies to pass their evaluation process faster with the use of robots. In this section, we will provide a list of prop firms that support EAs.
First, we will list top prop firms that allow HFT EA trading, and then we will list other prop firms that support milder EAs that do not require high-frequency data for the execution of trades, nor tick scalping and reverse arbitrage strategies.
10 Best Prop Firms that Allow HFT EAs and Algo
If you are looking for the best proprietary firms that allow EAs of any type to pass the challenge and evaluation process, here we have them listed. These prop firms allow HFT EA bots that can open and close trades within seconds. They also allow the use of trading strategies like reverse arbitrage, latency arbitrage, hedge arbitrage, and tick scalping as well as copying trades from others.
1. Infinity Forex Funds (HFT Limited & Algo)
Number 1 on our list of prop firms that allow HFT EAs and Algo is Infinity Forex Funds, the firm has unique features including a robust drawdown and fast payout system. IFF just introduced a new trading model called HFT Limited. This new fully supported HFT Trading Model comes with no minimum trading days, more flexibility, and straightforward rules. Read our Infinity Forex Funds Review article.
- Infinity Forex Funds HFT Limited package is as follows:
– $100,000 account = $899
– $200,000 account = $1,769
– $500,000 account = $3,974
– $1.000,000 account = $7,799
– Minimum Trading Days: 0 days
– Profit target: 10%
– Daily drawdown: 5%
– Maximum Drawdown: 15%
– News Trading: Allowed
– Leverage: 1:100
– Broker: Eightcap
Use discount code: OCT35(expired) when you buy HFT Limited account of any size through this link. Example. Buy $1m, $500k, $200k, or $100k HFT Limited and get 35% off the cost using the discount code. Or 20% off with discount code: UNIQUE20on other packages.
Infinity Forex Funds (Algo) evaluation plans
This trading model allows the use of Algo or HFT bots to trade the challenge phase. The firm has different simulated account sizes for a trader to choose from. Their account sizes range from $25,000 for a fee of $249 up to $500,000 for a $2,649 fee.
- Infinity Forex Funds Algo 1 Phase Evaluation program account sizes, and fees:
– $25,000 account = $249
– $50,000 account = $379
– $100,000 account = $599
– $200,000 account = $1,179
– $300,000 account = $1,589
– $500,000 account = $2,649
– Profit target: 10%
– Daily drawdown: 5%
– Maximum Drawdown: 15%
– Minimum Trading Days: 10 days
– News Trading: Allowed
– Leverage: 1:100
– Broker: Eightcap
– Get 20% off with discount code: UNIQUE20 on all Algo and Standard Evaluation accounts at Infinity Forex Funds website.
2. Kortana Fx
Kortana Fx proprietary firm prides itself as one of the best HFT supported prop firms around, with just an 8% profit target, no minimum trading days, and up to 100% profit share making it a great choice for those seeking a more flexible firm.
Enjoy 20% OFF all Kortana Fx Challenge when you buy an account with Crypto, discount code: CRYPTOMARCH.
- Kortana Fx One-Phase Evaluation account types, sizes, and fees:
– $10,000 account = $135
– $25,000 account = $249
– $50,000 account = $379
– $100,000 account = $575
– $200,000 account = $999
– Profit target: 8%
– Max Daily drawdown: 5%
– Max. Drawdown: 10%
– Min. Trading Days: 0
– Max. Trading days: No limit
– Overnight Trading: Yes
– Weekend Holding: NO
– New Trading: NOT Allowed (profits made will be deducted)
– Leverage: FX 1:50, Indices % Gold 1:50, Oil % FX Exotics 1:20, Crypto 1:1
– Broker Partner: TAUREX, Blueberry Markets
– Get 20% OFF all Kortana Fx Challenge when you buy with Crypto, with discount code: CRYPTOMARCH. Valid until 1st April 2024.
3. Quantec Trading Capital
Quantec Trading Capital offers an advanced trading environment that gives traders confidence in their trading systems with the HFT and EAs-enabled challenge accounts. The account features and trading rules are listed below. Additionally, you will get 20% OFF the newly launchedHFT 1 Step Ultimate Trader Challenge,discount code:ULTIMATE20or 10% OFF 1 Step Standard Evaluation, discount code: STANDARD10.
- Quantec Trading 1 Step Ultimate Trader Account sizes and rules.
– $50,000 account = $488
– $100,000 account = $888
– $200,000 account = $1,748
• Challenge type: 1 Step
• HFT bots: Supported
• Profit target: 10%
• Max daily drawdown: 6%
• Max total drawdown: 12%
• Min trading days: 0 Days
• Max trading days: Unlimited
• High Impact News: Allowed
• Weekend Holding: Allowed
• Scaling Profit Split up to 80%
• Account leverage: 1:30
• Broker Partner: EightCap
Get 20% OFF the newly launched HFT 1 Step Ultimate Trader Challenge, with discount code: ULTIMATE20.
- Quantec Trading 1 Step Standard Trader Account sizes and rules:
– $25,000 Account = $125
– $50,000 account = $249
– $100,000 account = $499
– $200,000 account = $999
• Challenge type: 1 Step
• HFT bots: Supported
• Profit target: 10%
• Max daily drawdown: 5%
• Max total drawdown: 10%
• Min trading days: 0 Days
• Max trading days: Unlimited
• High Impact News: NOT Allowed
• Weekend Holding: NOT Allowed
• Scaling Profit Split up to 80%
• Account leverage: 1:100
• Broker Partner: EightCap
Get 10% OFF Quantec HFT 1 Step Standard Trader Challenge, with discount code: STANDARD10.
4. Msolution Forex Funds
MSolution FF allows fully automated trading in their 1-phase and 2-phase evaluation programs, this feature enables traders to pass the challenge stage quickly using whatever way or robot trading that they are comfortable with. However, M solution FF does not allow the use of such EAs trading during the funded account stage, traders need to follow manual trading to reach the payout stage
- Msolution Forex Funds 2 Phase Evaluation account types, sizes, and fees:
– $10,000 account = $170
– $25,000 account = $270
– $50,000 account = $370
– $100,000 account = $580
– $200,000 account = $1,160
– Profit target: 10%
– Daily drawdown: 5%
– Maximum drawdown: 10%
– Minimum Trading Days: 4 days
– Maximum trading days: Unlimited
5. Next Step Funded
Next Step Funded Two Phase Evaluation. As you can see in the picture below, we just passed the verification phase of the account using our 100% accurate HFT bot (contact us for more information). NSF prop firm offers two prop trading models that support HFT – The HFT Limited Edition and the Two Phase Challenge programs.
Both models allow the use of HFT, EAs, and any trading system to pass the Challenge Phases, there is no limitation to how a trader should trade as long as they don’t breach the daily and maximum drawdown. They also have a One-Phase Challenge program where they currently offer a 35% discount, on HFT Limited Edition with code: MAR35 valid till 31st March 2024.
To use robots for passing a challenge with the firm, traders need to create an account with Next Step Funded and choose the HFT Limited Edition or the Two-Phase Evaluation, after a successful payment through a card or cryptocurrency, they can deploy the trading bot of their choice to pass the challenge. There is an ongoing 20% OFF Two Phase HFT plan. Use discount code: MAR20 applicable to HFT Challenge programs during checkout only. The offer ends on 31st March 2024.
- NSF HFT Limited Edition Account sizes and fees:
– $50,000 account = $440
– $100,000 account = $890
– $300,000 account = $2,150
– Profit target: 10%
– Max Daily drawdown: 5%
– Max Overall Drawdown: 12%
– Minimum Trading Days: 0
– Maximum Trading Days: 0
– Weekend Trading: Cryptocurrency
– Broker: Eightcap
Sign up for the Next Step Funded HFT Limited Edition Challenge account.
- Next Step Funded Two Phase Challenge account sizes and fees:
– $15,000 account = $98
– $25,000 account = $152
– $50,000 account = $305
– $100,000 account = $503
– $200,000 account = $998
– Profit target: 10% and 5%
– Daily drawdown limit: 5%
– Maximum Drawdown limit: 12%
– Min. Trading Days: 5
– Max. Trading Days: 30 Step 1, 60 Step 2
– Weekend Trading: Cryptocurrency
– Broker: Eightcap
Sign up for the Next Step Funded Two Phase Challenge Account.
6. Nova Funding
Nova Funding prop firm provides a 1 Step evaluation program that allows the use of High-frequency EAs. This type of trading involves no risk and allows a trader to pass the challenge by taking advantage of demo conditions. Since the evaluation stage is demo trading, Nova Funding evaluation introduces a lack of slippage, and no delays of order execution delays, which in turn can be taken advantage of via HFT bots.
- Nova Funding 1-Step evaluation program account sizes, and fees:
– $25,000 account = $297
– $50,000 account = $397
– $100,000 account = $597
– $200,000 account = $997
– Profit target: 10%
– Daily drawdown: 4%
– Maximum Drawdown: 8%
– Minimum Trading Days: no minimum days
– Maximum Time: Unlimited
7. The Talented Trader
The Talented Trader 1 Step Program supports the use of HFT Bots to pass the challenge. This feature allows you to pass the challenge faster with any kind of robot trading that you are comfortable with.
However, HFT bots can be used for the evaluation phase, it is not allowed on the live funded account which is not a problem, the most important and challenging aspect of trading a prop firm is passing the challenge phase which the HFT Bot will do for you. December Sale promo, Buy 1 and get 1 account free, in the December sale: Promo code: SANTA
- The Funded Trader 1-Step challenge account types, sizes, and fees:
– $5,000 account = $99
– $10,000 account = $199
– $25,000 account = $299
– $50,000 account = $399
– $100,000 account = $599
– $200,000 account = $999
– Profit target: 10%
– Daily drawdown: 4% (equity-based)
– Maximum drawdown: 8%
– Min./Max Trading Days: NIL
– Profit Split: Up to 80%
– News Trading: Allowed
– Leverage: 1: 100
– HFT: Allowed
8. MDP Funding One Phase HFT
MDP Funding allows traders to trade the smarter way by making use of a fully automated trading system in their One Step HFT challenge. There are other challenge programs like Two Step and One Step no HFT, but for this post, we go for the One Step HFT challenge. MDP Funding programs come with no minimum trading days and virtual account balances that start from as low as $5,000 up to $200,000
- MDP Funding One Step HFT Challenge account sizes, and fees:
– $5,000 account = $99
– $15,000 account = $179
– $25,000 account = $299
– $50,000 account = $489
– $100,000 account = $939
– $200,000 account = $1,819
– Profit target: 8%
– Max Daily drawdown: 5%
– Max Total Drawdown: 8%
– Minimum Trading Days: 10 days
– Maximum Trading Days: 60 days
9. Next Level Funding HFT
Next Level Funding offers a $100,000 Two phase challenge program that allows you to trade the evaluation stage with EAs automatic trading software or any type of trading system. With Next Level Funding programs you can get funded up to $500,000 and earn up to a 90% profit split. The program has a low target of 8% profit in phase one and 5% in phase two, with no trading days limit.
- Next Level Funding HFT Model Two Step Evaluation account size, and fees:
– $100,000 HFT Model = €600
– Profit target: 8%
– Daily drawdown: 5%
– Overall Drawdown: 12%
– Minimum Trading Days: 5 days
– Maximum Time: Unlimited
10. Keeper Funded
Keeper Funded is one of the prop firms that allows EAs HFT bots to pass their phase one and phase two evaluation processes as long as the trader did not breach the rules. The firm accepts any type of strategy in the challenge phase (Steps 1 and 2). That includes HFT bots, arbitrage, latency, grids, martingales, and so on, with no restrictions or limitations.
But in the funded stage traders can only use any type of manual trading strategy they like, but no EAs, bots, or copy trading is allowed.
- Keeper Funded 2 Phase Evaluation program account sizes, and fees:
– $25,000 account = $149
– $50,000 account = $269
– $100,000 account = $539
– $200,000 account = $1,069
– $500,000 account = $2,399
– $1 million account = $4,999
– Profit target: 8% and 5%
– Daily maximum loss: 5% (relative)
– Maximum loss: 8% (relative)
– Minimum Trading Days: 5 days
– Maximum Trading Days: Unlimited
11. FundedChoice (Automated)
Funded Choice 1 Step Automated verification allows the use of any kind of trading style with no limitations. Traders can use HFT bots or manual trading to pass the assessment stage and there are no lots sizing rules attached. However, traders need to trade for a minimum of 20 trading days before they will get to the funding stage.
- Funded Choice 1 Step verification process account sizes, and fees:
– $20,000 account = £290
– $50,000 account = £490
– $100,000 account = £940
– $200,000 account = £1,440
– $350,000 account = £1,940
– Profit target: 9%
– Daily maximum loss: 8%
– Maximum loss: 10%
– Minimum Trading Days: 20 days
– Maximum Trading Days: 45 days
12. BXF Funding $5,000 Account
BFX Funding allows HFT EA on the evaluation phase of the $5,000 account only. It’s prohibited on funded (Live) accounts and other account sizes. Note: When purchasing the evaluation package you need to check the box for the use of HFT otherwise you won’t be able to use it. Use discount code: BFX30 for 30% off, first accounts only.
BFX Funding also has other evaluation accounts that allow all manner of trading styles and strategies as long as it is not an HFT and Algo trading system.
- BXF Funding $5,000 One Step Evaluation program account and fee:
– $5,000 account = $49
– Profit target: 10%
– Daily maximum loss: 4%
– Maximum loss: 7%
– Minimum Trading Days: 0 days
– Maximum Days limit: Nil
13. Limitless Forex Funds
Just like the name, Limitless Forex Funds allow the use of Expert advisers and any type of robot trading tools on your account during the challenge and evaluation stages. However, these automated trading tools are not allowed during the funded account stage.
- Limitless Forex Funds Two Step evaluation account sizes, and fees:
– $10,000 account = $99
– $25,000 account = $150
– $50,000 account = $290
– $100,000 account = $500
– $250,000 account = $1,250
– $500,000 account = $2,500
– Profit target: 8% and 5%
– Daily loss limit: 5%
– Maximum loss: 10%
– Minimum Trading Days: 4 days
– Maximum Trading Days: Unlimited
14. RecessionProofFunds One Step
RecessionProofFunds One Step evaluation allows the use of HFT bots for passing the challenge, this avails traders the opportunity to employ the help of an automatic trading system to manage their trading activities.
www.rpffx.com one-step evaluation accounts range from $37,500 to $500,000 with a 5% daily loss limit and a 12% maximum loss limit.
- RecessionProofFunds One Step Evaluation program account sizes, and fees:
– $37,500 account = $375
– $75,000 account = $750
– $125,000 account = $1,250
– $250,000 account = $2,500
– $500,000 account = $5,000
– Profit target: 10%
– Daily loss limit: 5%
– Maximum loss: 12%
– Minimum Trading Days: 10 days
– Maximum Trading Days: Unlimited
Other 10 Top Prop Firms that Allow EAs.
In this section, we want to introduce other prop firms that allow traders to make use of EAs for challenge trading activities. Although these prop firms allow the use of EAs, it is not every type of trading bot can be used.
For example, they do not allow Algo and HFT bots that perform trading activities like reverse arbitrage, hedge arbitrage, latency arbitrage, tick scalping as well as copying trades from other traders as compared to the first 10 prop firms we listed above.
The Funded Trader
The Funded Trader prop firm allows the use of Expert Advisors for their Royal challenge and Knight challenge programs, the auto trading bots can be used for both challenge and funded account stages. However not as the ones mentioned above as there are limits to the type of Expert Advisor a trader is allowed to use. So before making use of auto trading bots, make sure to read their rules and find out the type of systems that are allowed.
The Funded Trader offers an evaluation program where traders can trade with an account of $25,000 up to $300,000 in capital with an unlimited trading period.
Instant Funding
Instant Funding prop firms allow traders to use the assistance of automated trading systems to speed up their trade activities. They are known for offering one of the best instant funding packages as well as one phase and two phase evaluation programs where traders can trade with up to $200,000 trading balance and enjoy up to 90% profit split. Additionally, traders can save an extra 10% off fees by applying the discount code: PTP10OFF when buying a challenge package on the website.
Funded Trading Plus
Another of the top prop firms that allow EAs is Funded Trading Plus. FTP prop firm is known for its faster funding, fast payout features with no minimum or maximum trading days. They offer funding trader programs where traders can trade with up to $200,000 simulated balance and scale up to $2 million. The simulated profit share is 80% and the minimum withdrawal is just $50. Funded Trading Plus supports both MT4 and MT5 platforms that are powered by Eight Cap broker. Applying discount code PTP10 will reduce the cost by 10%.
True Forex Funds [TFF]
One of our preferred choices on the list of prop firms that allow EAs is True Forex Funds, also known as TFF prop firm. True Forex Funds appear on the chart based on their unique offerings and features such as:
- Capital is scalable up to $2,500,000
- Unlimited free retries for evaluation
- They have no minimum trading days
- They offer unlimited trading days option
- Their spread starting from 0.0 pips (0.16 for US30)
- They offer 1:100 leverage
- They have a profit target of 8% for phase one and 5% for phase two
- They have no consistency rule
- There is no lot sizing range
- Compulsory use of stop loss: No
- News Trading: Allowed
- The profit split is 80/20
- Refund of evaluation fee and lastly,
- True Forex Funds allows the use of EAs, copy trading, and any trading strategy on their funded account except HFT bots.
True Forex Funds Two Phase Evaluation package is as follows:
– $10,000 account = €89 (refundable)
– $25,000 account = €189 (refundable)
– $50,000 account = €299 (refundable)
– $100,000 account = €499 (refundable)
– $200,000 account = €998 (refundable)
– Min Trading Days: 0 days
– Max Trading Time: No time limit
– Profit target: 8% step one, 5% step two
– Max daily loss: 5%
– Max overall loss: 10%
– Profit Split: 80/20 split
– Leverage: 1:100
Register an account with Trus Forex Funds through this link.
True Forex Funds One Phase Evaluation package is as follows:
– $10,000 account = €89 (refundable)
– $25,000 account = €189 (refundable)
– $50,000 account = €299 (refundable)
– $100,000 account = €499 (refundable)
– $200,000 account = €998 (refundable)
– Min Trading Days: 5 days
– Max Trading Time: 30 days
– Profit target: 10%
– Max daily loss: 3%
– Max overall loss: 6%
– Profit Split: 80/20 split
– Leverage: 1:100
FTMO
FTMO is one of the most popular prop firms that allow EAs usage. They offer challenge programs that traders need to pass to qualify for the funding program. Once a trader passes the challenge, they can trade with up to $2 million in capital and keep 70% to 90% of their profits. FTMO supports both MT4 and MT5 platforms.
E8 Funding
E8 Funding is one of the top prop firms that allows EAs trading. The question of whether you can use EAs on E8 Funding has been answered, you are allowed to use headings within the same account and automatic trading bots as long as it doesn’t copy the trades of others or replicate the same trades within different accounts.
They offer different types of trading evaluation programs, traders can choose between the E8 account which offers 2 step challenge, or the E8 Track which comes with 3 Phase challenge. and account sizes.
Smart Prop Trader
Smart Prop Trader allows EA of all types for trading as long as the trading system doesn’t exploit the system. They don’t allow EAs that martingale or perform grid trading, HFTs, and latency arbitrage trading. They offer a trading evaluation program where traders can demonstrate their skills and receive funding if they pass the assessment stage. Read more about Smart Prop Trader and its offerings, features, discount codes, and promotions.
Funded Next
Funded Next allows the use of Expert Advisors for its Stellar Challenge, Evaluation, and Express Trading Models. The prop firm offers both 1 step challenge and 2 step challenge programs with accounts of different sizes to meet every trader’s needs. Their challenge program starts from a balance of $6,000 up to a balance of $200,000. See this post for the Funded Next discount code and other offers.
FXIFY
With FXIFY prop firm, traders can choose to use automated software to manage their trading activities. Also, FXIFY allows the customization of accounts to suit each trader’s trading strategy and style. They offer a trading evaluation program where traders can start with an account of $5,000 or trade with up to $400,000 capital and keep up to 80% of their profits. See our FXIFY review post and 20% discount code.
OneUp Trader
If you are looking for a prop firm that supports the NinjaTrader platform, OneUp Trader is the right choice. They offer a free NinjaTrader license to traders who subscribe to their evaluation programs, where traders can trade with up to $500,000 in capital and keep up to 80% of their profits.
Maven Trading
Maven Trading prop firm is great for offering cost-effective challenge accounts that support the use of Expert Advisor. The firm offers challenge account programs allowing traders to choose from a balance of $5,000 for as low as $45 and up to $500,000 balance for just $2,995 which comes with no minimum trading days as well as unlimited trading time. Additionally, traders can use Maven Trading discount codes found here to reduce costs by up to 25% or more.
What Are Prop Firms EAs (Expert Advisors)
One such trading tool that many traders are interested in using is Expert Advisors or EAs. EAs are automated trading systems that use pre-programmed algorithms to execute trades on behalf of the trader. This can be especially useful for traders who want to take advantage of market opportunities but don’t have the time or expertise to do so manually.
There are different types of EAs available for managing trading activities. Some of them are hedge arbitrage, reverse arbitrage, latency arbitrage, and tick scaling tools. However, not all prop firms allow the use of EAs, and many of those that allow it have limits to the type of EA a trader can use. To use EAs for trading, traders need to find the right prop firm that supports their preferred trading strategies and tools.
Some prop firms may have specific requirements or limitations on the use of EAs, like allowing only certain types or requiring prior approval.
What is HFT Bot or Algo Trading?
Algo trading of HFT refers to the use of computer programs and algorithms known as EAs to execute trading strategies in financial markets. This type of trading can process large volumes of data, such as price movements, market indicators, and other relevant factors, to make trading decisions.
High-Frequency Trading or HFT in short form, is a trading strategy that uses advanced computer algorithms and high-speed networks to execute a large number of trades in a very short time, sometimes times within seconds
Using HFT or Algo trading strategies offers several advantages, like increased speed of execution, reduced human error, and the ability to backtest strategies using historical data.
Why Choose Prop Firms that Support EAs
In terms of a simple trading strategy, using Expert Advisors can be a game-changer. These EAs automated trading systems can analyze the market and execute trades without the trader’s intervention. This means that the trader can focus on other aspects of trading, such as risk management and strategy development.
Proprietary trading firms that support EAs can be a great option for traders who want to take advantage of this technology. Here are a few reasons why you should choose prop firms that support EAs:
Faster Funding
Trading with prop firms that allow EAs often gives traders faster access to funding in the sense that a trader doesn’t need to spend much time trading the challenge. This can be an advantage for traders who want to start trading a funded account and making profits without delays. Once funded, traders can take advantage of more trading opportunities and make more profits faster.
Reduced Risk
Using an EA bot can help reduce the risk of human error in trading. EAs are designed to follow a set of rules and execute trades automatically based on those rules. This means that traders can avoid making emotional decisions that could lead to losses.
Faster Execution
Prop firms that allow EAs often have advanced technology and infrastructure that can execute trades faster. This can be a significant advantage in volatile markets where the speedy execution of trades is very required.
Stress-Free Trading
Trading forex with prop firms that support EAs can help traders make stress-free trading activities. Since these tools can analyze the markets, open, close and manage trades on behalf of the trader for better performance. The trader does not need to stress out with charts and analysis to find a good entry or other stress that comes with manual trading.
Choosing a prop firm that supports EAs can be a smart move for traders who want to take advantage of fully automated trading systems. These firms can provide traders with faster funding, reduce risk, offer faster execution, and stress-free strategy.
Evaluating Prop Firms for EAs
When evaluating proprietary trading firms that support EAs, there are several factors that traders should consider. Here are some of the important factors to keep in mind:
1. EA Restrictions and Guidelines
Before choosing a prop firm that allows EAs hands-free trading, traders should carefully read the firm’s rules concerning automated trading. Some firms may have strict rules on which EAs are allowed, while others may not allow EAs at all. It is important to read and understand the restrictions and guidelines before committing to a firm.
2. Trading Capital and Profit Split
Traders should also consider the amount of trading capital that is available and the profit split offered by the prop firm. Some firms may offer higher capital amounts, but may also take a larger percentage of profits. It is important to find a balance between the amount of capital available and the profit split.
3. Fees and Costs
The fees and costs of buying a prop firm challenge should be considered. Some firms that support automated trading systems may charge high fees for the evaluation accounts, while others may offer more affordable options. It is necessary to review all fees and costs before choosing a firm.
4. Platform and Broker
The prop firm’s broker partner and trading platform are also important when considering a firm. Traders should look for proprietary firms that offer reliable and user-friendly platforms like MT4 and MT5 backed by reputable brokers, as well as advanced tools and features that can help to improve trading performance.
5. Support
Another important factor to consider is the level of support the prop firm provides. Traders should look for firms that offer comprehensive support, including access to communities, training materials, technical support, and other types of support like functional customer care service. This can help traders to improve their skills and become successful in their trading careers.
By carefully evaluating these factors, traders can find a prop firm that supports EAs and offers the best possible trading experience.
Conclusion
In conclusion, there are many proprietary trading firms that allow traders to make use of Expert Advisor for their trading activities, but not all of them allow all types of trading bots like HFT and Algos. Traders who prefer algorithmic trading can benefit from the use of EAs, which can help them achieve success in trading.
Please note that not all firms allow the use of every EAs, and traders should check with the desired firm before using such trading systems. Additionally, traders should thoroughly test their EAs in a demo account before using them in a live trading environment.
10 of the best prop firms that allow EAs have been listed in this post. These firms provide traders with a challenge account and allow them the opportunity to pass it using any type of trading style including software. And proceed to the funding stage as long as they didn’t break the trading rules.
