Should I sell my EA in the MQL5 Market Place, and why?

#1

Hi All …

Firstly, I realise that it’s not allowed to discuss Market Place products in the forum, and so I hope it’s OK to ask some questions about a product that is not listed in the market yet.

I have been running my EA for some time, and it has never crossed my mind to sell it. To cut a long story short, a mistake made on a crypto exchange recently made me decide that selling my EA was perhaps a good way to make back some of my losses (up-front), even though there is a strong argument for just letting it trade and putting the profits back into crypto.

So I started off making people aware of it, but I was going to sell it independently by just providing the .EX4 file to those who purchased it. I would have hard-coded their account numbers to ensure that it could only work on the accounts provided.

I was then informed by a trader friend that this would not be a good idea, as it was possible to decrypt the .EX4 files, and that the safest thing to do would be to sell it on the market place.

My questions regarding selling on MQL5 are as follows:

  • I have seen some older posts about this on the forum, but can .EX4 files sold on the market-place ever be decrypted more recently, as far as we know anyway?
  • If you sell a product on MQL5, does it have to remain on the market forever, or can you sell a limited number of copies?
  • Although my EA has been running successfully for over a year, what kind of turn-around is expected those buying the product on MQL5 in case any bugs, or incompatibility issues were found? I am not asking because I think there are bugs, I am asking because I have had the product developed for me based on my specification - and so any enhancements may not have a guaranteed SLA.
  • Are sellers protected from buyers losing money when they misuse the product, or simply just when markets change and periods of drawdown / stagnation too place.
  • Is there a way to show performance without showing your account balance? I know most linked systems you can see this information. I appreciate it’s good for transparency, but just wanted to check.
  • Would be good to understand what level of purchases can be expected for a quality product on the MQL5 market place.

I was first consider selling the code (but obviously at a much higher price) - but depending on how the above questions are answered, still deciding on the best way forward.

I attach some screenshots of the EA’s performance to date.

Thanks

Performance

#2

just give out your myfxbook link so people can see performances ,

you can put everything private from trade history

so give it out and will check it out if its worth it

#3

OK thanks - you mean it’s acceptable to just put out your myfxbook link on the EA when selling it in the market place?

Otherwise I will give it out once / if I decide to sell.

Keen for some opinions on the other questions as well :slight_smile:

#4

First you have to regiested as a Seller, there is no other way here.

There you get some Infomations you looking for… your Profile… on the left side “Seller”

#5

Did you use your EA on the crypto exchange too?

#6

No … only FX.

My worry with MQL5 is I can already see content on the internet where MQL market .EX4s can potentially be decrypted.

I won’t post the link out of respect for others.

#7

I have no idea about the security of your EA if listed on the market, I had no idea that people would decrypt them. I would think that if the price is high enough, the buyers would have no interest in stealing your program. I do not really know the answer to that. In any event, no matter how you sell your EA there will be the risk that someone may take it apart.

An alternative to the market would be your own website and a marketing program, that would be time intensive, I think.

Myself, I buy from the market, I do not search on the net as I want to see what other purchasers are putting in the Reviews and Comments.