Live signal EAs: how to follow an EA’s trades before you buy
A live signal EA is an expert advisor whose trades on a real account are published as they happen, usually on MQL5 Signals or Myfxbook. Follow one for a few weeks before you buy and you’ll see how it really trades: its losing runs, its drawdown and how it handles news. Check that the account is real, the settings match yours and the broker’s costs are similar.
A backtest shows how an EA’s settings fit the past; a live signal shows what it is doing with real money right now. That makes a live signal EA one of the most useful things to look for before you buy, as long as you know what a signal can and can’t tell you. This guide covers where real signals are published, what to check, and why copying a signal is not the same as running the EA yourself.
What a live signal is
- MQL5 Signals is MetaQuotes’ signal service, built into MT4 and MT5. Signals can only be created from real accounts; demo, contest and cent accounts aren’t allowed. Providers can charge a subscription, and MQL5 keeps a 20% commission.
- Myfxbook tracks a trading account through its investor (read-only) password and can verify that the history matches the broker’s records.
- Investor password access lets you watch the account directly in your own MetaTrader, the most direct check of all.
Live signal vs backtest vs track record
| Evidence | What it shows | Can it be edited? | Main weakness |
|---|---|---|---|
| Backtest | Simulated trades on past prices | Yes, settings can be tuned to fit | No real costs or fills |
| MQL5 live signal | Real trades as they happen | No, it comes from the broker account | The provider chooses which account to publish |
| Verified Myfxbook record | Real account history and statistics | Not once the track record is verified | Check for cent accounts and deposits after losses |
| Investor password | The live account in your own terminal | No | You only see the account the seller shares |
What to check in a live signal
- Real money and the broker name. Note the broker, account type and leverage.
- Age. At least a few months, ideally a year through calm and fast markets.
- Growth next to drawdown. Strong growth with a deep equity drawdown is a high-risk signal, whatever the headline figure.
- Lot sizes over time. Lots that rise after losing trades point to martingale; many same-direction trades at even steps point to a grid. See how to spot both.
- A recent losing stretch. How far did equity fall, and how long did it take to recover?
- The settings behind it. Ask which set file and risk level the signal runs, and whether that matches the version you would buy.
- Trading costs. A signal on a raw-spread account can look better than the same EA on a standard account.
For a deeper look at reading statistics, see our guide to checking results on Myfxbook and FX Blue and our explanation of what counts as low drawdown.
Copying a signal vs running the EA yourself
| Copying a signal | Running the EA yourself | |
|---|---|---|
| Where trades come from | The provider’s account, copied to yours | The EA on your own terminal |
| Prices and fills | Copied with a small delay; slippage can differ | Your broker’s prices, your execution |
| Settings | The provider’s; you set deposit load and stop limits | Yours, including risk and trading hours |
| What you need | A subscription; MetaTrader or a VPS online | The EA, a set file and a VPS |
When you copy a signal in MetaTrader, the platform’s signal settings let you limit how much of your deposit it may use and stop copying if equity falls below a level you set. When you run the EA yourself, put the same limits in place with its risk inputs or an equity guard.
Red flags in a live signal
- A short history with very high growth.
- Gaps, restarts, or a new signal appearing after an old one stopped.
- Deposits added after losing months to keep the account alive.
- Many signals from one provider, with only the best one promoted.
- Settings or broker that differ from what you would be sold.
Live signal EA FAQ
What is a live signal EA?
An expert advisor whose trades on a real account are published as they happen, usually on MQL5 Signals or Myfxbook, so buyers can watch it before paying.
Are MQL5 signals real accounts?
Yes. MQL5’s rules allow signals only from real accounts; demo, contest and cent accounts aren’t accepted.
Why are my results different from the signal?
Different broker prices and costs, start dates, settings, account size and execution delay. Small differences add up over many trades, especially for scalpers.
How long should I watch a signal before buying?
At least a few weeks, and ideally until you have seen a losing stretch. EAs that trade rarely need longer.
Is copying a signal better than buying the EA?
Neither is better in general. Copying is simpler but gives you less control; running the EA lets you set risk and hours but needs your own terminal or VPS. Either way, size the risk with the position size calculator.
Risk warning. Trading forex and CFDs on margin carries a high risk of losing money. A live signal shows past and current trades only; it does not guarantee future results.
Sources, checked 6 November 2026: MQL5 Signals rules · Myfxbook verification help