Expert Advisor (EA)

Detailed Explanation

Expert Advisors (EAs) are scripts that run on MetaTrader platforms and can automatically open, manage, and close trades without manual intervention. In the prop trading context, EA policy varies significantly between firms: some allow all EAs freely, others restrict certain types (like high-frequency or arbitrage EAs), and some ban EAs entirely. Traders using algorithmic strategies should verify a firm's EA policy before purchasing a challenge. Firms that allow EAs often attract copy-trading and algo-trading communities.