5. Have the EA trade a PAMM account. Your clients accounts will get the same trades scaled by their deposit size as the Master account. EZ - You trade 1 account and keep the EA secret on your VPS and can support any number of clients.
Fulltime247 posted: 5. Have the EA trade a PAMM account. Your clients accounts will get the same trades scaled by their deposit size as the Master account. EZ - You trade 1 account and keep the EA secret on your VPS and can support any number of clients.
Indeed this is another solution, however in this case you're limited to one broker with each PAMM account, so working with many clients from multiple brokers would be an impossible task.
It's really a shame MetaTrader do not make a solution for this issue - that's also another source of revenue for them if they were to build a professional platform for managers which aggregates all of their brokers; a lot of managers would defenitely use it.
Won't be practical. The different broker are to different. For example if Varengold won't take a trade with levels like a SL or a TP - you have to modify afterwards, where IBFX will. IBFX allows daily hedges until rollover, where Varengold allows hedges.
For each broker I have to adjust my strategy. And each needs their own EA.
If it ever gets to that level, better to write an EA for that broker and use the MM software. Hire someone to handle the clients.
I take each broker on their own. But ultimately the goal is not to have clients. Each client is like a boss. One thousand bosses. The idea makes me shiver in fear...
6. If your EA is TRULY good (and I don't know how much probable it is, considering that at this time there are something like less than 10 EAs that 'truly' work against hundred of scams), then the money will still come (and then, if your EA truly worked, perhaps you wouldn't need to sell it). If we look at three of the most successfull EA, Megadroid, FapTurbo and DP, the first two have a DLL with part of the engine and the third (if I remember correctly) doesn't have anything (simple .ex4 file).
If you 'use' a dll, there are some dll encryptors to make it more difficult to unscramble/crack it.
I know of an option where you can have your EA provide signals to client accounts at many different brokers. The client accounts receive your signals at their brokerage account and the trades are automatically placed. You can charge clients a subscription fee, or per trade fee, etc.
This is the best way to protect your EA since you never give any code to anyone. The worst that could happen is they study your trades and reverse engineer a similar EA but, someone could do that anyway and, that's a lot of trouble to go to.
I'm not familiar with myfxbook's policy on posting links so, I'm not going to post it right now.
If this sounds like it might be a good option, message me and I'll send you the info.
Basically me experience is that if you can really do this, money arrives and it arrives fast. People can tell if you know what you're doing or not. No need to sell EA's.
You can not trust a client not to fiddle with EA's. You'll always get a genius that wants double the money and goes double the trade sizes, then when he wipes out it's all over the forums and internet. You can't even trust them to always have internet or electricty so they're online at least. Or even understand what they have to do.
And you definitely cannot trust a third party tool to be reliable. Not when someone trusts you to do the best you can not to lose their money. What happens if that tool starts doing doubles trades? What if it's offline? And how would you monitor it?
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