I am new here in myfxbook. I tried to log into my MT4 account using the investor password. The system says that trades are not allowed, but I was quite shocked that I was enabled to remove an EA, or attach a different EA to the chart. My concern is, how will the new attachment work? Does it execute trades? (ie, other people can attaach their EA onto my account and their robot starts to trade on my account) If I put my EA to work, is the investor log-in path able to disable my EA, and prevent the robot from doing its work?
Another concern is, when someone else logs in using the investor password, is he able to open up the source code of the EA that is being used on the chart? Or scan my hard disk for information? For example, the myfxbook EA has the ID and password in the user input, if someone else can attach it to the chart, that person can literally steal my whole account here and impersonate me.
Investor password is completly safe - it provides a read-only access to your account. There is no access to the EA's working - the only information available is the trade history, open trades/orders and account's data (balance, profit, etc).
You were able to remove the EA since you've logged in using the same terminal you've used to attach the EA's with, so MetaTrader 'remembered' it, even though it had no effect on the real account.
I've asked my friend to install MT4 and gave him the investor password, try his best to mess up the EA or trade. His response was he can only see the trade details, history, and journal. That's about it.
I am not a programmer, so.... things like that are extremely difficult for me. Having said that, I do realize that perhaps it is better to use another software to link up and send orders as and when necessary. I've read about the virtual plug in and stuff like that, and other forum folks have mentioned that whatever platform the broker uses, they have tools to gather a lot of information.
Still, many good brokers are regulated in countries with strong legal framework, so even if tools are available, there's such a thing as code of ethics to comply with.
It will be really nice if there's some really easy human-level programming language to learn, that can attach to any broker's API and run smoothly 😀
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