In the foreign exchange market, trading can be completely automated using an EA (Expert Advisor).
In particular, there are many benefits when downloading and using an EA for free. (Reference article: Advantages of free EA)
There are many websites where you can get free EA, but there are also many dangerous ones.
This page explains how to understand the risks hidden in free EAs and how to safely find and use good free EAs.

Free EA has a high risk of errors and bugs occurring

EAs (Expert Advisors) that operate on MetaTrader (MT4 or MT5) are programmed using the MQL language (MetaQuotes Language).
If there are any deficiencies in the program description, unexpected failures may occur, resulting in large losses.
In the example below, the account crashes due to a large number of positions being held due to the lack of a filter for whether or not positions are already held.

This is an example of the simplest program deficiency.

Free EA tends to be less complete than paid sales EA

When getting an EA for free, in addition to backtesting, it is also important to check whether the EA provider performs forward testing.
Since forward testing involves real-time trading, it may reveal defects that do not appear in backtesting.
It is important to check whether the EA provider is willing to release forward tests.

Free EA may lead you to expensive fraudulent products

Be wary of websites that give away EA as a gift or bonus to their visitors.

Such websites may obtain information such as your email address and sell you high-priced EAs or direct you to completely different fraudulent investment products.
Please do not apply for EA’s gift plan easily.
An EA given for free will not bring good results in trading.

Malicious programs may be lurking

Since the EA is a program that only works with MetaTrader, it is unlikely that the EA itself contains malicious programs such as viruses.
However, there are websites that pretend to be distributing EA for free and try to trick you into downloading completely unrelated files.

EA files have an .ex4 or .ex5 extension.
If a non-EA file such as .exe or .txt is downloaded, it is best not to open it.
The .dll file may need to be downloaded at the same time as the EA and set in MetaTrader for authentication and exchange of information with external sources.
However, .dll files can also contain malicious programs. If you need to use a .dll file, check the reliability of the provider.

How to get free EA safely

Below we will explain how to use the EA safely.

1. Download from trusted websites

When using a free EA, it is important to download it from a reliable website.
Reference article: Website where you can download free EA

This site (FOREX FREE EA DOWNLOAD PROVIDERS) specializes in providing free EA.
Rather than sample EAs like those posted on forums, EAs created with the aim of providing benefits to users will be distributed.
Reference article: Why do we provide free EA?

On this site, we check the EA program (source code), compile the EA so that it can only run on MetaTrader, and then distribute it to users.
The EA distributed on this site does not contain any malicious programs.

Also, this website does not direct you to paid EA or other sales  websites. All available for free.

Users can safely get and operate the EA.

2. Avoid bonus EAs and decompiled paid EAs

There are websites where third parties distribute popular paid EAs for free.
But be wary of websites like this.
Using the name of a high-profile EA, they may try to recruit users into downloading malicious programs.

There are also websites that decompile paid EAs, remove license authentication settings, and distribute them for free.
Decompiling and distributing an EA is clearly illegal.
There are various risks involved in using an EA that has been decompiled without permission.

3. Check if sufficient tests have been performed

If there is a deficiency in the program, the EA may execute unexpected trades, resulting in large losses.
To avoid this, it is important to check whether the EA provider has conducted sufficient testing.

The EA distributed on this website is backtested using real tick data in advance, and forward tests are also actively published, so there is a low possibility of trading errors occurring.

Conclusion

Free EAs have many benefits, but it’s important to get them from reliable sources.
The EA on this website does not contain any malicious programs and can be used safely.
We also carry out various tests to ensure that there are no unexpected losses due to program deficiencies.