EA Policies and Risks:
At MyFundedFX, we understand that traders may choose to utilize Expert Advisors (EAs) to automate their trading strategies and enhance their trading experience. We do allow the usage of EAs on all our accounts and at every phase. However, to ensure fair and compliant trading, there are certain restrictions on the types of EAs that are allowed. Please find the detailed description below:
Prohibited EA Types:
1. High-Frequency Trading EA: EAs that execute a high volume of trades within short time frames, typically aiming to exploit minor market inefficiencies, are not permitted.
2. News Scalping EAs: EAs designed to capitalize on price fluctuations during news releases or economic events by executing rapid scalping trades are prohibited.
3. Arbitrage EAs (Reverse and Latency): EAs that exploit price discrepancies between different markets or brokers, whether through reverse trading or latency-related strategies, are not allowed.
4. Multi-Account Reverse Trading EAs: EAs that mirror trades from one account to multiple accounts in the reverse direction are prohibited.
5. Tick Scalping: EAs that engage in rapid-fire trading based on tick-level price movements are not permitted.
6. EAs Designed to Abuse Demo Servers: Any EAs specifically created to manipulate or take advantage of the functionalities of demo servers are not allowed.
Additionally, it's important to note that using third-party EAs obtained from the open market increases the risk of violating our copy trading rules. If you decide to use a third-party EA, we strongly recommend adjusting the set files or settings to ensure that each trader using the EA has different entry and exit points. This helps maintain fairness and avoids potential conflicts.
Any bots or EAs that mask trades or engage in activities commonly known as arbitrage are strictly prohibited, and failure to comply with this rule will result in disqualification.
If you have any questions or concerns regarding the specific EA you plan to use, we encourage you to reach out to our support team at support@myfundedfx.com. They will be able to provide you with further information and guidance to ensure compliance with our EA usage policy.
Disclaimer:
All content published and distributed by MyFunded Solutions LLC out of Delaware, MyFundedFX, and its affiliates (collectively, the “Company”) provided for general informational and instructive purposes only. None of the information provided by the Company or contained herein is intended as investment advice, an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of, any security, investment, company, or fund. Leveraged products such as CFD’s and FX trading are complex instruments with a high risk of losing money. Please note; The information on the website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Copyright (c) 2023. All right Reserved. MyFunded Solutions LLC out of Delaware.