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Based in Exeter - working across prop trading firms worldwide

Glossary · Evaluations

EA policy

  • Also called
  • expert advisor policy
  • bot policy
  • algorithmic trading rule

What it means

In a prop firm, an EA (expert advisor) policy covers automated strategies running on MetaTrader and equivalent bots on other platforms. Most firms allow trade management tools and personal strategies, and ban strategies that exploit the simulated environment, such as latency arbitrage, tick scalping and high-frequency order placement.

Many firms also ban third-party EAs sold to many traders, because hundreds of accounts running the same bot behave like one trader with many accounts and concentrate payout liability.

Enforcement depends on the risk engine: identical trade timing across accounts, very short hold times and abnormal order rates are typical flags.

Related terms

Read these next.

Evaluations

Copy trading policy

A copy trading policy sets whether a trader may copy trades between their own accounts, from others, or from signal services, and what limits apply.
Risk and drawdown

Risk engine

A risk engine is the software that watches every prop firm account in real time, enforces loss limits and rules, and flags prohibited trading behavior.
Risk and drawdown

Multi-accounting

Multi-accounting is when one person controls several prop firm accounts under different identities, or several people coordinate trades, to bypass allocation and risk limits.
Platforms

MetaTrader 4 and 5

MetaTrader 4 and MetaTrader 5 are MetaQuotes' retail trading platforms, long the default for forex and CFD prop firms, with access now subject to MetaQuotes' own licensing decisions.
The website

Rules page

A prop firm rules page is the single, canonical explanation of every evaluation and funded-stage rule, with definitions, worked examples and an update date.

On your website

Where this shows up on a prop firm site.

Feature

Challenge pricing table

The table traders compare first: program, size, price, target, daily and maximum loss and split, readable in ten seconds on a phone.
Feature

Rules pages

Rules a trader can read one way: one page per rule, worked examples from your own numbers, and a table of which rules apply to which plan.

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