MT5 automated forex trading, how to take it from simulation to live?

H

HobbyTrading

Due to the COVID-19 limited movement and stay-at-home rules in the country where I live did I have some free time on my hands and was looking for a hobby project. I ended up downloading MetaTrader and started experimenting with coding an Expert Advisor (a.k.a. trading bot) for forex, using the MQL language.
It is an interesting journey, seeing what functionality MQL offers and how I can use this. Also how I can use MT for backtesting and forward testing is interesting. I have meanwhile gone through a few iterations of my code and have ended up with a version which seems to work nicely in forward testing.

The good simulation results make me consider taking the next step: funding an account with some money (e.g. 3~5 k USD) and have it run live on some of the main currency pairs. I have a computer at home which is available to run this 24/7 (it is currently running automated trading at IB 24/5 and has space remaining).
So, in order to take this next step, I started to look at some websites of forex brokers. However, I notice that all of them mention that they provide their customers with MetaTrader 4. I have developed my EA with MetaTrader 5 and MQL5, so I fear that I can't use these brokers?
And I notice that these brokers promote VPS solutions a lot. As mentioned, I have my own computer and don't need a VPS service.
Any suggestions on how I can take my EA live?
 
Depends on what kind of EA you develop...
if it is a scalping bot, you need a very good broker with very low spreads etc.
[I think brokers like alpari, icmarkets, pepperstone, dukascopy, xtb are good...]
Have a look at forexpeacearmy.com

I have only run mt4 EAs online until now.
What was important here, was that you backtested with high quality data.
Either from provider tickdatasuite, or tickstory.

Otherwise you need a good and stable internet connection;
there are some good VPS services like forexvps.net or digitalforex.com
(Know, you don't need it).

And then of course, a good EA trading system ; )
The most difficult thing.
 
Fx-Game said:
Depends on what kind of EA you develop...
if it is a scalping bot, you need a very good broker with very low spreads etc.
[I think brokers like alpari, icmarkets, pepperstone, dukascopy, xtb are good...]
Have a look at forexpeacearmy.com

I have only run mt4 EAs online until now.
What was important here, was that you backtested with high quality data.
Either from provider tickdatasuite, or tickstory.

Otherwise you need a good and stable internet connection;
there are some good VPS services like forexvps.net or digitalforex.com
(Know, you don't need it).

And then of course, a good EA trading system ; )
The most difficult thing.
More...
The EA I made is not a scalping bot, so it does not need very low latency or HFT characteristics. Having a broker which offers low spreads is always nice. I will check that forexpeacearmy website.
As I am running automated trading from home for several years do I know how stable my internet connection is. The internet connection is tested every minute, and if it is not there it is measured how long it takes until it becomes available again. I am aware of the risk of having a disruption, and the potential financial consequences it might have.
 
ZBZB said:
Why not use IB for forex?
More...
The whole purpose of the experiment is to gain experience with MetaTrader, including their MQL programming language. Now that the program seems to work, also get some experience in how these forex brokers work.
I have the impression that (a) IB does not provide an interface to MetaTrader and (b) does not provide leveraged forex trading.
 
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