Introduction


Are you tired of overpriced trading robots eating into your small account? Meet the Forex Free MT5 Prop Firms EA V1.0, a genuinely free forex EA designed to help you smash prop firm targets without breaking the bank. Whether you’re aiming for FTMO, The5ers or any other prop challenge, this MT5 expert advisor comes with all the bells and whistles—yet costs nothing beyond the $200 minimum deposit most firms require. In this post, we’ll walk you through what this EA does, why it’s tailor-made for prop traders, and exactly how to get it up and running on your MetaTrader 5 platform. Ready to trade smarter, not harder? Let’s dive in.


What Is Forex Free MT5 Prop Firms EA V1.0?


Forex Free MT5 Prop Firms EA V1.0 is a specialized algorithmic trading tool built for prop firm conditions. Unlike traditional EAs that cater to account-blowing grid or martingale tactics, this one focuses on consistency and low drawdown—key metrics for passing prop firm evaluations. Powered by a mix of trend-following filters, volatility breakouts, and adaptive risk management, it aims for steady gains of 1–2% daily, with a maximum drawdown capped at 5%. All you need is the MT5 expert advisor file, a MetaTrader 5 account, and a minimum deposit of $200 to get started.


Forex Free MT5 Prop Firms EA V1.0 MT5


Key Features



  • 1–2% Daily Profit Target – Designed for consistent growth, not explosive but risky returns.

  • Max Drawdown 5% – Keeps your equity curve smooth enough to satisfy prop firm rules.

  • No Martingale or Grid – Pure trend-based logic avoids compounding losses.

  • Adaptive Volatility Filter – Uses ATR to adjust trade entry thresholds in real time.

  • Timeframe Flexibility – Optimized for M15 and M30, but works on H1 too.

  • Multi-Pair Support – Preconfigured for EUR/USD, GBP/USD and USD/JPY, with customizable pairs.

  • Built-In News Filter – Halts trading around major economic releases.

  • Position Sizing Algorithm – Calculates lot sizes based on account balance and risk percentage.

  • Trailing Stop Logic – Locks in profits as trades move in your favor.

  • 30-Day Free Updates – Ongoing improvements from the YoForex development team.


How It Works



  1. Trend Detection – The EA scans multiple EMAs (21, 50, 100) to confirm trade direction.

  2. Volatility Confirmation – ATR-based breakouts signal genuine market moves, filtering out noise.

  3. Entry Execution – Once trend and volatility align, it enters with a fixed risk percentage (1–2%).

  4. Risk Management – A strict stop-loss at recent swing highs/lows, with dynamic trailing stops to protect gains.

  5. Exit Strategy – Profit targets scale with volatility; if the market stays calm, it takes partial profits early.


This combination of trend-following and volatility filtering makes the Forex Free MT5 Prop Firms EA particularly suited for the tight risk parameters of prop firms.


Benefits for Prop Firm Traders



  • Compliance with Evaluation Rules
    Prop firms often enforce strict drawdown and daily loss limits. This EA’s 5% max drawdown ensures you stay within those boundaries, so you can qualify for funded accounts faster.

  • Minimal Monitoring Required
    Set it up and let it run. The integrated news filter means fewer surprise blow-ups during high-impact events.

  • Low Barrier to Entry
    With just $200, you can meet most prop firms’ minimum deposit requirements. And since the EA is free, your capital stays where it belongs—in the market.

  • Scalability
    Once you pass the evaluation, simply increase your lot sizing settings to scale your profits on a larger funded account.


Installation & Setup



  • Download the EA



  1. Grab the ForexFreePropFirmsEA.ex5 file from your dashboard or download page.

  2. URL: https://fxcracked.org/downloads/ForexFreePropFirmsEA.ex5



  • Copy to MT5



  1. In Metatrader 5, go to File → Open Data Folder → MQL5 → Experts.

  2. Paste the .ex5 file here.



  • Restart MT5



  1. Close and reopen MT5 so it recognizes the new expert.



  • Attach to Chart



  1. Open a EUR/USD M15 chart (or your chosen pair/timeframe).

  2. Drag the “Forex Free MT5 Prop Firms EA” from the Navigator onto the chart.



  • Configure Settings



  1. In the EA’s Inputs tab, set RiskPercent to 1–2.

  2. Ensure UseNewsFilter = true.

  3. Adjust MaxDrawdown to 5.

  4. Click OK and enable AutoTrading.


Pro tip: Save your template: right-click the chart → Template → Save Template. Next time, just load it on any chart.


Forex Free MT5 Prop Firms EA V1.0 MT5Tips & Best Practices



  • Demo First – Always test the EA on a demo account for at least two weeks before going live.

  • Avoid Low-Liquidity Pairs – Stick to major pairs like EUR/USD to ensure tight spreads.

  • Mind the Spread – Disable trading when spreads exceed your threshold.

  • Regular Updates – Check for EA updates at least once a fortnight to benefit from refinements.

  • Risk Control – Never exceed 2% risk per trade, even if you feel confident.


Conclusion & Call to Action


If you’re chasing funded account status at prop firms, the Forex Free MT5 Prop Firms EA V1.0 could be your ticket. With solid risk controls, no hidden fees, and a $200 minimum deposit, it’s everything you need to meet evaluation rules without sacrificing capital. Ready to give it a spin?


Download your free copy now and start putting prop firms’ rules in your favor!


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Happy Trading