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General Information

Important keywords​

  • Forex Market (Foreign Exchange Market): The trading market where you can buy/sell/exchange currencies
  • Broker: A company that allows you to place trades on the Forex Market
  • MetaTrader: Name of the software to use to place trades on the Forex Market through the Broker
  • Expert Advisor (or trading bot): A small piece of code that you load into MetaTrader and that will place trades automatically
  • Virtual Private Server (VPS): A server that runs 24/7 that you rent from a Hosting Provider and on which you run MetaTrader

Requirements​

Requirements to automatically trade Forex using MetaTrader 5 and an Expert Advisor:

  • A Windows Server (or a Desktop Computer) running 24/7 and configured properly
    • You can rent a VPS with the Windows Server operating system from different Hosting Providers
  • A trading account with a Forex Broker, which will consist of:
    • A customer account, from which you can manage one or more MetaTrader accounts
    • One or more MetaTrader accounts, on which you will deposit money to and run the trading bot
  • The software MetaTrader version 5
    • It can be installed multiple times if you want to use multiple accounts at the same time
  • The Expert Advisor file (extension ".ex5")
  • (Optional) The Indicators files (extension ".ex5")
  • (Optional) The Scripts files (extension ".ex5")
  • (Optional) The configuration files (extension ".set") to configure the Expert Advisor

This documentation will walk you through all those steps.