How to rate an expert advisor before buying: 6 checks
An EA sales page is built to sell, and the numbers on it are chosen by the seller. Before you pay, rate the EA yourself with the same six checks every time, so two EAs can be compared fairly.
The 6 checks
- Where does the record come from? Best: a live account that reports straight from MetaTrader (a read-only link or a reporting EA). Weaker: a third-party page the seller can reset. Weakest: screenshots and backtests. See How to check an EA track record.
- How long, and in which markets? Count the months of live trading. A few weeks proves very little. Look for at least one bad period and see what the EA did in it. For gold EAs, check that the record covers both calm months and big-move months.
- Which drawdown is shown? Closed drawdown can look small while losing trades are still open. Ask for equity or floating drawdown, and read return and drawdown together. See Gold EA drawdown: how to read it.
- How does it manage risk? Find out if it uses a stop loss, a fixed or percent lot, and a limit on open trades. Grid and martingale EAs add trades to losers; they can look smooth for months and then fail in one move. Ask how far price can move against it before the account is at risk.
- Are costs and conditions realistic? Check the spread, commission and swap in the record, the broker and the account type. A scalping EA that works on a raw-spread account may lose on a standard account. Test it on the same broker and account type you will use.
- Is the seller open? Do they show all accounts, including stopped ones? Do they answer questions about losing months? Can you test on demo first? A seller who hides bad periods is a red flag on its own.
Quick score sheet
Give each check 0, 1 or 2 points: 0 = missing, 1 = partly shown, 2 = clear and checkable.
- 10–12 points: worth a demo test.
- 6–9 points: ask more questions first.
- Under 6: skip it.
How we do it
Every account on our leaderboard reports through our AT Reporter EA, straight from MetaTrader. Demo, cent and real accounts are labelled, and drawdown sits next to every return. You can publish your own account the same way for free with AT Reporter.
FAQ
Can I trust an EA with a high Myfxbook gain?
Not on gain alone. Check the record type, its length and the equity drawdown first.
Is a backtest enough to rate an EA?
No. A backtest is a model of the past. Use it for research, then ask for a live record.
How long should I demo test an EA?
Long enough to see at least one losing period, usually several weeks or more, on the same broker and account type.