Home / Setup Guide

How to Install Forex Master Pro EA on MetaTrader 5

This guide walks you through downloading, installing, backtesting, and running Forex Master Pro EA v4.0 on MT5 — even if you have never used a trading robot before.

What you need before starting

• MetaTrader 5 installed (any broker — OctaFX ECN recommended for lowest spreads)
• Minimum $100 account balance for live trading (demo accounts are free)
• A chart open on EURUSD, GBPUSD, USDCAD, USDCHF, or XAUUSD
• Timeframe: M15, M30, or H1

Step 1 — Download from MQL5

Go to the official MQL5 product page and choose your plan:

• Free Demo — test in Strategy Tester, no payment
• $30/month or $75/3 months — live rental
• $149 — full license with 5 MT5 activations

Download on MQL5 →

Step 2 — Install the EA file

1. Open MetaTrader 5
2. Go to File → Open Data Folder
3. Navigate to MQL5/Experts/
4. Copy the downloaded .ex5 file into this folder
5. Restart MT5 or refresh the Navigator panel

Step 3 — Enable automated trading

Click the Algo Trading button in the MT5 toolbar until it turns green. Without this, the EA cannot open or manage trades.

Step 4 — Attach to chart and configure

1. Open a chart (e.g. EURUSD M15)
2. Drag Forex Master Pro EA from Navigator onto the chart
3. In Inputs, set risk per trade (default 0.5% recommended)
4. Enable Allow Algo Trading in the EA settings popup
5. Click OK — a smiley face in the corner confirms it is running

Backtest before going live

Open Strategy Tester (Ctrl+R), select Forex Master Pro EA, choose EURUSD M15, and run a visual or fast test on at least 1 year of data. Look for stable equity growth and controlled drawdown — the published backtest shows ~72% win rate and 1.85 profit factor on historical data.

Past performance does not guarantee future results. Always test on demo first.

Recommended settings summary

• Pairs: EURUSD, GBPUSD, USDCAD, USDCHF, XAUUSD
• Timeframes: M15, M30, H1
• Risk: 0.5% per trade
• Broker: Low-spread ECN (optimized for OctaFX). Use M5/M15 for Gold/XAUUSD
• Min balance: $100