Glossary
EA (expert advisor)
An EA, or expert advisor, is an automated program that runs inside a trading platform such as MetaTrader and places or manages trades by set rules.
What it means
An EA can open and close trades on its own, or only assist the trader, for example by setting stops or calculating position size. EAs are written for a specific platform. MetaTrader 4 and 5 call them expert advisors, while other platforms have their own versions, often called bots or algos. Traders can build one themselves or buy one from a marketplace.
Prop firm rules on EAs vary widely. Some allow any EA, some allow only trade management tools, and many ban EAs that exploit the simulation, such as latency arbitrage, or that run the same strategy for many traders at once. Traders should ask before using one, and firms should state which uses are allowed and how they check.
Worked example
Illustrative case: a trader uses an EA that adds a stop loss to every trade and closes all positions when the day's loss reaches 1% of the account. That is a risk tool. A bought EA that opens identical trades on hundreds of accounts at the same moment is the kind of use firm rules are written to catch.
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