An introduction to automated trading (EA) in overseas forex! We explain how to get started and introduce free MT4/MT5 EAs

With overseas forex trading, you can install and trade using automated trading systems (EAs) available on MT4 and MT5

「What is automated trading (EA)?」

「How do I use it?」

" I want to know about MT4 and MT5

You probably have many questions about automated trading systems (EAs). Therefore, this time, of overseas forex automated trading systems (EAs) . This article will cover everything you need to know about the mechanisms and features of EAs, so please use it as a reference.

For those new to overseas forex trading, we recommend Complete Guide to Overseas Forex Trading for

What is automated trading (EA) in overseas forex? Explanation of its features and mechanisms

In overseas forex trading, you can utilize automated trading systems called EAs (Expert Advisors)

EA stands for Expert Advisor, and it refers to automated trading systems included in MT4 and MT5. Any trader using MT4 or MT5 can freely install it, regardless of their broker.

First, let's clarify what MT4 and MT5 actually are

What is MT4 (MetaTrader 4)?

MT4 (pronounced "Em-Tee-Four") refers to MetaTrader4

the most popular trading tool in the world, used by everyone from individual traders to major financial institutions. It was developed for professional traders by the Russian software company MetaQuotes

A comparison list of recommended overseas forex brokers that support MT4 | Explanation of differences from MT5, as well as their advantages and disadvantages

What is MT5 (MetaTrader 5)?

MT5 ( pronounced "M-T-Five") is an abbreviation for MetaTrader 5 , and it is an upgraded version of the MT4 platform. Currently, MT5 is the latest version, and most overseas forex brokers offer both versions.

While MT5 and MT4 differ in specifications and features, there isn't a huge difference in their overall performance .

Whichever you choose, they are both high-performance tools

How MT4 and MT5 automated trading (EA) works

Automated trading systems (EAs) a feature of the platform and are not provided by FX brokers. EAs programmed by traders and developers around the world are publicly available on the MT4/MT5 marketplace (MQL5).

Automated trading systems usable with MT4 and MT5 are collectively called EAs (Expert Advisors)

Users can install publicly available Expert Advisors (EAs) from the MT4/MT5 marketplace (MQL5)

What is an EA (Expert Advisor)?

In automated trading (EA), are programmed based on algorithmic analysis

certain trading rules from a vast amount of data, such as past price movements, chart patterns, and technical indicators . Each developer has different trading rules and strategies, resulting in a variety of EAs (Expert Advisors).

The Expert Advisor (EA) automatically buys and sells according to a pre-programmed strategy

Automated trading (EAs) for MT4 and MT5 are popular worldwide

The reason MT4 and MT5 have become such popular platforms worldwide is not only because they are equipped with high-performance technical tools, but also they allow for programmed automated trading .

Automated trading was once a FX trading method adopted only by a few major financial institutions

However, thanks to the programming features provided by MT4 and MT5, even individual traders can now easily develop automated trading systems

the MQL5 marketplace, which allows providers and users to exchange goods, became popular, and MT4/MT5 quickly spread throughout the world.

You can create automated trading systems (EAs) using MT4 and MT5

provide their own programming languages ​​for development

• MT4 → MQL4
• MT5 → MQL5

By using these programming languages, anyone can create automated trading systems and indicators . Currently, there are no other tools that can rival MT4 and MT5. With their development capabilities, MT4 and MT5 are arguably the ultimate FX trading tools.

Japanese FX traders also use the MQL language to develop and provide automated trading systems and indicators for MT4 and MT5.

Recommended ways to use automated trading systems (EAs) for overseas forex for free

So, how can automated trading (EAs) be used in MT4 and MT5?

Here, I'll introduce some recommended ways to use EAs for free

What is the MQL4/MQL5 market?

can be obtained from an information site called "MQL5" which is linked to the MT4 and MT5 sites

MQL5 main screen

MQL4 (MT4) services are also available from the MQL5 website, and indicators and EAs can be installed from the MQL5 marketplace .

Developers can effectively utilize the MQL5 marketplace as providers, and users can effectively utilize it as acquirers

Is MQL5 registration free?

New registration for MQL5 is completely free . Creating or deleting accounts is easy and can be done online. You can install indicators and EAs from this marketplace into your trading tools.

We will explain the registration process in detail later

Types of MT4/MT5 Expert Advisors (Free/Paid)

The number of Expert Advisors (EAs) available for MT4 and MT5 overwhelmingly large, exceeding 12,000 . If you include those distributed by individuals, the number of EAs is even larger.

EAs (Expert Advisors) come in both free and paid versions

Paid EAs range from around $30 to $1,000. Expensive EAs can cost around $3,000

A higher price doesn't necessarily mean you'll win more. While paid EAs are generally designed to be more profitable, many high-quality free EAs available. You can search through the free EAs to find one that suits your specific needs.

What are overseas forex trading EA purchase sites and free distribution sites?

Automated trading systems (EAs) can be obtained from individual distribution sites or dedicated sales sites

Some of the commonly used automated trading (EA) websites include the following:

• GoGo Jungle
• EA-BANK
• TRADERS- Pro

that some developers and distribution sites charge membership fees for using free EAs they may be trying to sell their own EAs , which can be biased.

Originally, automated trading EAs (Expert Advisors) are designed to be freely selected from the MT4/MT5 marketplace. There are plenty of strategies available that you won't find on distribution sites

Recently, the increasing availability of Japanese language options , more and more traders are discovering things for themselves, like a treasure hunt. It's recommended to search directly from MQL5 and try out various types.

Comparing automated trading (EA) with domestic FX and other automated trading systems

Automated trading systems, particularly those offered by overseas forex brokers (EAs), are generally considered more user-friendly than those offered by domestic forex brokers.

Here, we will compare automated trading (EA) with domestic FX and other automated trading methods

Types of automated trading	Service Features	commission	platform
Overseas FX (EA)	• Compatible with both MT4 and MT5 • Strategies developed by developers/traders worldwide • Over 12,000 types to choose from • A wide variety of algorithm-based strategies	Free / Paid	MT4/MT5
Domestic FX automated trading	- Offered by each broker - Strategies developed by each broker or domestic traders - Dozens of types or more - Varies by broker, such as repeat type or strategy type	• Paid	Developed and provided by a domestic FX broker.
Copy trading	- Offered by specific overseas forex brokers - Allows you to copy professional discretionary trades - Dozens to hundreds of different strategies - The trading method varies depending on the trade you copy	• Paid	MT4/MT5
Mirror Trader	• Provided by Tradency Inc. Used by certain overseas and domestic forex brokers • Offers copy trading and pre-programmed options • Hundreds of different strategies available	Free / Paid	Dedicated platform

"overseas automated trading " and "domestic FX automated trading"

The biggest differences between automated trading systems for overseas and domestic forex brokers are ease of implementation and the variety of strategies available

anyone can freely use automated trading (EAs) by installing MT4 or MT5 this service is universally applicable regardless of the broker or account type .

On the other hand, in domestic FX trading, each broker offers automated trading services . However, it is necessary to open a dedicated account, and the types of automated trading services vary from broker to broker, with a limited number of strategies to choose from.

The difference between "copy trading" and "automated trading EA (Expert Advisor)"

Copy trading is a method where you link your account to a professional's account and copy the professional's discretionary trading . In other words, even beginners can make money by trading like professionals.

Image of copy trading

At first glance, it may seem no different from automated trading (EA), but copy trading differs in that it allows you to trade using the discretionary trading methods of professionals and advanced traders

An Expert Advisor (EA) is a pre-programmed FX system, while copy trading is FX trading performed by a human . However, some copy trading systems incorporate automated trading.

The difference between "Mirror Trader" and "Automated Trading EA"

Following the release of MT4's Expert Advisors (EAs) in 2005, Mirror Trader appeared a little later. Mirror Trader is an automated trading service that allows users to select trading strategies

The first automated trading system to arrive in Japan was Mirror Trader, back in 2013. Since then, other automated trading systems similar to Mirror Trader have also become available in Japan.

You can search for a strategy that suits your needs from hundreds of different options, including programmed strategies and discretionary trading strategies that can be copied

Because discretionary trading can be copied, copy trading is sometimes also called mirror trading

As this comparison shows, overseas forex automated trading systems (EAs) are not only user-friendly but also have an advantage in the number of strategies available to choose from .

Advantages and disadvantages of automated trading (EA)

The appeal of automated trading (EA) lies in the freedom to choose from a wide variety of strategies. However, despite its convenience, it also has several drawbacks

Next, let's look at the advantages and disadvantages of using EAs in MT4 and MT5

Benefit 1: Anyone can use it if they have MT4 or MT5!

Automated trading (EA) for overseas forex is a service built into MT4 and MT5. Its biggest advantage is that once you install MT4 or MT5, you can easily use it with your own overseas forex account.

You can find countless EA (Expert Advisor) strategies created by developers around the world . From these, you can choose a high-quality automated trading (EA). This is extremely convenient because it can be used universally regardless of the overseas forex broker or account type.

Benefit 2: No prior experience or expertise in FX trading is required!

Another advantage of automated trading (EA) is it doesn't require specialized knowledge or analytical skills . (Even beginners can use it.)

Once you set up an automated trading system (EA), it will automatically execute FX trades for you . Even with limited knowledge of FX, you have a chance to make money.

Even if you can't perform the technical and fundamental analysis essential for FX trading, you can leave it to an EA (Expert Advisor). significantly lowers the difficulty level of FX trading .

Benefit 3: You don't need to check the market in real time!

For busy professionals, housewives, and students, constantly monitoring charts while trading can often be difficult . Using an automated trading system (EA) allows you to simply set it up and trade 24 hours a day without needing to watch charts .

You don't need to check the market in real time. Even people who don't have much time can start FX trading with automated trading (EA)

Benefit 4: You won't have to worry about when to cut your losses or take profits!

In FX trading, the timing of stop-loss and take-profit orders is extremely important. However, you may struggle with deciding when to place an order , or be swayed by your emotions, which can result in missed opportunities.

With an Expert Advisor (EA), stop-loss and profit-taking timings are automated. The appeal of automated trading (EA) is that even beginners can engage in FX without experiencing mental stress.

Benefit 5: The EA testing function is excellent!

are equipped with superior backtesting capabilities that other automated trading systems lack

Before using an EA, you can perform multiple tests by changing conditions such as timeframe and currency pair. You can calculate the profit or loss when using historical charts. By comparing the performance of multiple EAs and selecting the one with the best results , you increase your chances of winning.

The method for backtesting is explained in detail in a separate article

Disadvantage 1: You are not guaranteed to win

Because trading rules and strategies differ among developers, the performance of an EA (Expert Advisor) will vary depending on which one you chooseIt's not guaranteed that you'll win with every EAThat's right

Contrary to expectations, losses can sometimes escalate , so it's crucial not to leave it completely unattended. Complete neglect is not possible.

Occasionally, check the performance and revise your EA (Expert Advisor)

Disadvantage 2: Difficulty trading in line with market trends

One disadvantage of automated trading (EA) is that it is difficult to respond flexibly to sudden market fluctuationsAutomated trading systems (EAs) can only perform actions according to their programmed instructions。

The stocks you hold may experience sudden price fluctuations, potentially leading to a rapid increase in losses

Depending on the situation, it may be necessary to temporarily stop the EA (Expert Advisor)

What are the trading hours for overseas forex? What are the most profitable times and points to be aware of?

Disadvantage 3: Each EA has market conditions in which it is suited or unsuited

Automated trading (EA) can basically be used for any stock, but..Suitable for specific stocks or market trendsThere is

For example, some strategies are more profitable when volatility is high and exchange rates fluctuate wildly, while others are strong in trending markets or suited to downtrends

The key to success is using an EA that is suited to the stock and market trends. Once you become more familiar with it, you can perform backtesting and forward testing yourself to check its compatibility with the market and its overall quality

Be sure to check reviews, user feedback, and recommended setup methods

Disadvantage 4: Some EAs are difficult to set up

Depending on the EA you want to use,Setting the rated items is quite complex and difficultthere is

To use automated trading (EA), you need to decide on the currency pair, timeframe, investment capital, and investment period yourself

While it's possible to use the default settings, changing the settings may improve performance, which can make the decision difficult

Before using automated trading systems (EAs), be sure to take ample time to understand how to set them up

Furthermore, overseas forex brokers offer a "zero-cut guarantee" that will cover any negative balances that occur if a stop-loss order is not executed in time. For more information on the "zero-cut guarantee," Explanation of the disadvantages and mechanisms of the zero-cut system ."

Tips and methods for winning with automated trading (EAs)

When you hear the term automated trading (EA)Some people associate it with a dangerous imageThere probably are. However, if you choose a good EA,There are also cases where profits can be obtained safelyMany people seem to be able to earn money from the very first day

This section explains the key points you should know when choosing a good automated trading system (EA)

Understand the key points for winning and then look for a good automated trading system (EA)

Check past trading performance

Highly effective automated trading systems (EAs) tend to have a track record of generating significant profits in past trades

The fact that it has a proven track record in the past suggests that the program is excellent

Be careful, as some EAs have little trading history or are of poor quality with significant losses. When choosing an EA, always check the trading history on a chart and select one with an upward trending chart

A trading history (chart) showing a steady upward trend

Perform backtesting and forward testing.

When using an Expert Advisor (EA), it's important to check it beforehand using backtesting and forward testing

Backtesting is a simulation that uses past data as a reference. Backtesting is considered important in determining trading performance

Forward testing shows the results when the system is operated outside of the test period. Automated trading systems (EAs) where the backtest and forward test results differ significantly have a higher risk of losses. A good EA is one that performs well in both.

By performing backtesting yourself, you can verify the true performance of the EA. Furthermore, it has the advantage of displaying test results in Japanese even for English versions of EAs

Avoid stocks with high drawdown rates

The drawdown rate is a metric that indicates how much the assets being managed have declined. Automated trading systems (EAs) with a drawdown rate of 30% or less have a low risk of further losses.

An EA with a high drawdown rate is more likely to trigger a

Check the Profit Factor (PF)

The profit factor is a measure of the ratio of total profit to total loss. a value in an Expert Advisor (EA), also known as PF . The profit factor is calculated as total profit ÷ total loss, and a value of 1.0 or higher indicates that a profit is being made .

It's said that achieving a profit factor (PF) of 1.0 or higher is difficult with discretionary trading. If an EA (Expert Advisor) has a PF of 2.0 or higher, you can expect significant profits .

For beginners using Expert Advisors (EAs), it's important to choose an automated trading system (EA) with a profit factor of 2.0 or higher

Also check the number of trades, win rate, and loss rate

Choosing an automated trading system (EA) with a high number of FX trades and a win rate of 60% or higher is also a key to success. If the win rate is high but the number of trades is low, it may not be reliable.

Furthermore, be cautious if the win rate is too high, such as over 90%. There's a possibility that the strategy details and trading history have been falsified

Choose products with good reviews and reputation

At first, it might be difficult to judge for yourself which EA is superior

On the MQL5 marketplace, you can check reviews for all EAs . Alternatively, you can also research the reputation of an EA through online searches.

Choose products that have received positive reviews and ratings

The most important thing is "fund management"

The most important aspect of automated trading (EA) is money management. No matter how high the performance of an EA, losses can still occur depending on the timing

To reduce risk, the basic principle is to use only surplus funds and start with a small amount .

using low leverage and adjusting the number of positions , low-risk automated trading can be achieved.

How to start and use automated trading (EA) in overseas forex trading

So, let's get started with automated trading (EA) in overseas forex

To start using automated trading (EA), you first need to open an overseas forex account . After opening the overseas forex account, install the EA .

The steps for setting up an automated trading system (EA) are as follows:

1. Downloading and installing MT4 and MT5
2. MQL4/MQL5 (EA Marketplace) Registration
3. Find and select the EA you want to use
4. Download an Expert Advisor (EA) and set it up on MT4

We will explain each step and method in an easy-to-understand way

Download MT4 and MT5 for free

You can download MT4 and MT5 from the trading tools page of your overseas forex broker, or from the official MetaTrader website

Regardless of the overseas forex broker you use, the download and installation process for MT4 and MT5 is the same. Since MT5 can be installed in the same way as MT4, let's look at the process using MT4 as an example

Step 1

When you press the download button, a file with the following filename will be saved in your browser

*The file name often includes the name of the overseas forex broker at the beginning

Step 2. Click the file to open it. An installation screen will appear. Click "Next" to proceed until the installation complete screen appears.

Step 3

Finally, when the completion screen appears, click the "Finish" button. MT4/MT5 will then be displayed on your PC

Log in to MT4 with your ID and password

log in using the ID and password sent to you by your overseas forex broker .

Select "File" → "Log in to trading account" from the MT4 menu bar. You can log in by entering your ID and password on the login screen

Now you're ready to install the EA

Create an EA account (MQL5)

Next, to install the EA from the marketplace, register a new MQL5 account .

• MQL4: Compatible with MT4
• MQL5: Compatible with MT5

Both MQL4 and MQL5 become available after registering as an MQL5 member

If you go to the official website and click the "New Registration" button, a screen will appear where you can enter your email address and ID name

Click here for the MQL5 official website

*Automatic login via Gmail, etc., is disabled

Please enter your email address and register as a member to obtain your ID

When you click the registration button, an email will be sent to your email addresspasswordand"Activation" emailYou will receive an email. Click the "Activate" button in the email to access the service

You will receive an email containing your password and an activation button

Once "Activation" is complete, log in to MQL5 using your ID and password

Now, you can use as many free EAs as you like

How to convert MQL5 to Japanese

Occasionally, MQL5 may appear in English. In that case, click the flag icon in the upper right corner and select Japanese to switch to the Japanese version.

How to find free and paid EAs for MT4

Next, let's look for an EA in the MQL4 market (MT5 uses MQL5) .

Step 1. Open "Market" from the MQL5 menu.

Step 2. The market page will be displayed. From the menu on the far left, select "MetaTrader4" and then "Expert".

• MT4 automated trading → MetaTrader4 Expert
• MT5 automated trading → MetaTrader5 Expert

Step 3. Select "Free" from the tags at the top of the list.

　All Expert Advisors (EAs) displayed on this page are available for free. Clicking on each EA's icon will allow you to view its features and details

List of free EAs

Some EAs (Expert Advisors) publish their backtest results, so check out the page of any EA that interests you

Translate EA details from English to Japanese

Even on the Japanese version of the site, some details about EA are written in English

Even if the EA is in English, you can rest assured that it can be displayed in Japanese as shown below

Click the small "language icon" in the upper right corner of the EA details page . Selecting "JP" from the language list will change the display to Japanese.

How to install a free Expert Advisor (EA) on MT4

There's no limit to the number of free EAs you can install, so you can install as many as you like. Install a few EAs that interest you on your MT4 or MT5

Installing on MT4/MT5 is very easy

Click the "Download button" on the left side of the EA's details page

This will bring up a pop-up screen where you can choose either "I have MT4" or "Download MT4". you select "I have MT4" , the selected EA will be automatically installed into MT4.

Installed EAs are stored in the "Expert Advisors" section of the MT4 Navigator menu

(For detailed installation instructions and how to run the EA, please see here.)

For full-scale operation of an EA, it's better to use a VPS

When you're seriously running an automated trading system (EA), you need to take precautions to prevent your PC from shutting down .

To run an EA (Expert Advisor), it's common to use a VPS (Virtual Private Server) to ensure the power doesn't cut off

A VPS (Virtual Private Server) is a virtual server that allows PCs to connect 24/7, 365 days a year . It is a type of rental server used for things like automated forex trading and gaming.

Using a VPS allows you to conduct FX trading in a stable communication environment, enabling efficient EA operationBe careful, as this can sometimes lead to unexpected losseslet's

A cheap VPS commonly used in EA (Expert Advisor) projects

Some overseas forex brokers offer free VPS if certain conditions are met, but the hurdles, such as the minimum deposit amount, are often high. Using a commercially available VPS will generally be more cost-effective .

VPS usage fees are charged on a monthly basis, with the cheapest options costing around a few hundred yen, and even the more expensive ones costing around 3,000 yen

commonly used, low-cost VPS options include the following:

Some EAs offer basic functions for free, so try them out before you start using them

Recommended Overseas Forex Trading Platforms (EAs) Ranking

If you use an overseas forex broker that offers MT4 or MT5, you can run automated trading (EA) regardless of which broker you use

However, since the quality of service and support varies among brokers, it's best to use a highly reliable and reputable overseas forex broker.

The following three companies are recommended

1. FXGT
2. AXIORY
3. XM Trading

We'll introduce the features and recommended points of each

① FXGT

• Compatible with MT4 and MT5

If you're new to automated trading (EA), FXGT is recommended as they offer an account opening bonus.

provides approximately 15,000 yen in margin when you open a new account

The amount of margin you can receive varies depending on the time of year, so be sure to check beforehand

FXGT Reputation and User Reviews | Independent Investigation into Safety and Rumors of Withdrawal Refusals

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② Axiory

• Compatible with MT4 and MT5

AXIORY is characterized by its extremely high account specifications. In particular, it has a reputation for its high execution speed, and as clearly stated on its official website, its execution speed is an impressive 99.9% .

They offer trust protection and rarely report any problems with deposits or withdrawals, so you can use them with peace of mind. They also boast the narrowest spreads in the industry, making them a popular choice among many short-term traders.

AXIORY Reviews and User Feedback | Thorough Investigation of Safety and Withdrawal Refusal Cases (AXIORY)

Opening an AXIORY account through a cashback website is the most advantageous!

Opening a new AXIORY account through our website, "Money Charger (Manecha)," is advantageous. You'll receive cashback every time you trade with AXIORY. Click here for instructions on how to open an account

③ XM Trading

• Compatible with MT4 and MT5

XM Trading an overseas forex broker that enjoys immense popularity among Japanese traders .

With our highly-regarded account opening campaign, you can get ¥3,000 worth of margin without making a deposit. High leverage, comprehensive support and educational content, and bonus campaigns are among its attractive features

it is highly reliable and supported by many traders , it should be easy to use even for those new to automated trading (EA).

XMtrading Reputation and User Reviews | Thorough Investigation of Security and Withdrawal Refusal Cases (XM Trading)

How to start trading forex overseas via cashback

You can also open an account with XM Trading through cashback offers. For information on how to receive cashback and how to earn money through cashback, please refer to this website.

Summary: Let's find a free EA that can make money on MT4/MT5!

This article explains the features and mechanisms of automated trading systems (EAs) in overseas forex trading , as well as key points for choosing a good EA and how to get started

EAs are automated trading systems that can be freely installed and used from MT4 and MT5 . You can choose from a wide variety of strategies to suit your needs.

The important point is that not all EAs guarantee profits. It's crucial to use surplus funds and trade in small amounts, and to carefully manage your funds

Opening an overseas forex account through our website, "Money Charger (Manecha) ," allows you to take advantage of attractive cashback offers. Take this opportunity to receive cashback and try automated trading in overseas forex.

Overseas Forex Account Opening Bonus & Deposit Bonus Comparison Ranking! [Latest January 2026] Broker List