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    • Forex CFDs

      Get great rates on majors like EUR/USD, plus minors and exotics

    • Commodity CFDs

      Trade on metals, energies and softs, with spreads from 2 cents on oil

    • Cryptocurrency CFDs

      Speculate on Bitcoin, Ether and more, with a trusted broker

    • Shares CFDs
    • ETF CFDs
    • Index CFDs
    • Currency Index CFD
    • Dividends for index CFDs
    • Dividends for share CFDs
    • CFD forwards
    • TradingView

      Trade through the world-famous supercharts with great pricing

    • MetaTrader 5

      Explore the apex in trading automation with our execution tech

    • The Pepperstone platform
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    • CopyTrading
    • cTrader
    • Trading tools
    • Navigating markets

      Latest news and analysis from our experts

    • The Daily Fix

      Your regular round-up of key events

    • Meet the analysts

      Our global team giving your trading the edge

    • Who we are

      Pepperstone was born from the dream of making trading better

    • Company news
    • Company awards
    • Protecting clients online
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Beginner

What should you look for in a good EA?

Everyone will have their own preferences for which EA they would like to trial and put to use, but there are a few things that you could look out for from the outset.

  1. Past performance: how has the EA performed in the past? Over what time period is the performance shown? And what level of risk and return has it exhibited?
  2. What is the maximum drawdown on the EA? This is very important, as you need to determine if higher levels of drawdown suit your risk appetite. Fluctuations of 70-80% of the value of your account could be dangerous and you need to consider what your risk appetite is.
  3. Cost: if you’re buying an off the shelf EA, it should be within your budget. Just like any investment, no EA can guarantee future performance. While past performance may prove an EA’s reliability, you need to consider how quickly the cost of the EA will be recouped given your account size and the EA’s forecasted trading performance.
  4. Developer support: are the contact details of the developer or company easily found, and can you find tutorials or guides on how to troubleshoot issues with the EA? It’s important to find this out, as it could prove costly if they don’t work as intended.
  5. Reviews: does the EA have a very good rating (how many stars it has been given) and are there sufficient, legitimate reviews available to determine whether the EA does in fact perform as described?
  6. The MQL5 marketplace (for MT4 & MT5 EAs) and the cTrader algos marketplace are most popular among traders , given the platform providers will monitor them for any suspicious behaviour. While you can purchase EAs outside of these marketplaces, it is best to do rigorous research on the EA you intend to buy, and ask for a free trial where possible so you can conduct your own analysis.
Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information provided here, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.

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© 2025 Pepperstone Markets Limited | Company registration number 177174 B | SIA-F217

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.

81.1% of retail investor accounts lose money when trading CFDs with this provider.

You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

You don't own or have rights in the underlying assets. Past performance is no indication of future performance and tax laws are subject to change. The information on this website is general in nature and doesn't take into account your or your client's personal objectives, financial circumstances, or needs. Please read our RDN and other legal documents and ensure you fully understand the risks before you make any trading decisions. We encourage you to seek independent advice.

Pepperstone Markets Limited is located at

#1 Pineapple House, Old Fort Bay, Nassau, New Providence, The Bahamas

and is licensed and regulated by The Securities Commission of The Bahamas,( SIA-F217).

The information on this site and the products and services offered are not intended for distribution to any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.