Prop Firm EA MT4 v2.0 + SetFiles (Unlimited) Full Review (2026)

Prop Firm EA MT4 v2.0 + SetFiles (Unlimited) is an automated Expert Advisor (EA) built for the MetaTrader 4 platform. It is designed to execute trades automatically using predefined trading rules, technical indicators, price action analysis, and configurable risk management settings.

The package includes multiple optimized SetFiles for different currency pairs and timeframes, allowing traders to test and customize the EA according to their preferred trading style and broker conditions.

While the EA is marketed for traders participating in proprietary trading firm challenges, users should independently evaluate its performance through backtesting and demo trading before using it on a live account.

Product Name

Prop Firm EA MT4 v2.0 + SetFiles (Unlimited)

Version: v2.0

Platform: MetaTrader 4 (MT4)

License: Unlimited

DLL: No DLL Required

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What Is Prop Firm EA?

Prop Firm EA is an automated Forex trading robot developed specifically for MetaTrader 4.

The EA is intended to help traders automate their strategies while allowing them to customize money management, risk levels, and trading sessions. It combines technical analysis, trend detection, price action concepts, and algorithmic trading rules to identify potential market opportunities.

Its configurable settings are designed to support disciplined trading and provide flexibility for different account types and market conditions.

Why Use Prop Firm EA?

Automated Trading

Executes trades automatically based on predefined parameters, reducing the need for constant manual monitoring.

Risk Management

Includes configurable tools such as stop loss, lot sizing, and drawdown controls to help manage trading risk.

Flexible Configuration

Supports multiple trading styles with customizable settings and preset configuration files.

MT4 Compatibility

Works with the widely used MetaTrader 4 platform.

Multiple Currency Pair Support

Can be configured for various major and cross currency pairs.

Main Features

• Fully automated Expert Advisor
• MetaTrader 4 compatible
• Unlimited license
• No DLL required
• Multiple SetFiles included
• Drawdown management
• Risk percentage adjustment
• Automatic lot sizing
• Fixed lot option
• Custom Stop Loss
• Custom Take Profit
• Break-even function
• Trailing Stop
• Spread filter
• Session filter
• Magic Number support
• VPS compatible
• Multi-currency support
• Historical backtesting capability
• Beginner-friendly installation

Trading Specifications

Recommended Currency Pairs

The included SetFiles are designed for:

• EURUSD
• GBPUSD
• USDJPY
• USDCAD
• EURJPY
• EURGBP
• EURAUD
• EURNZD
• AUDUSD
• AUDCAD
• GBPAUD
• GBPNZD
• CADJPY
• CADCHF

Additional pairs may also be supported, but testing is recommended before live deployment.

Recommended Timeframes

• M5
• M15
• M30
• H1

Best Settings

Suggested conservative starting configuration:

Risk Per Trade:
0.5%–1%

Maximum Daily Drawdown:
3%–5%

Maximum Overall Drawdown:
8%–10%

Auto Lot:
Enabled

Fixed Lot:
0.01 per $1,000 balance (example)

Trading Sessions:
London and New York

Spread Filter:
20 points or less

News Filter:
Enabled (if available)

Trailing Stop:
Enabled (optional)

Break Even:
Enabled (optional)

VPS:
Recommended

These settings are examples only and should be optimized through testing.

Installation Instructions

Step 1

Download the complete Prop Firm EA package.

Step 2

Open MetaTrader 4.

Step 3

Select:

File → Open Data Folder

Step 4

Copy:

Prop Firm EA v2.0.ex4

into

Experts Folder

Step 5

Copy all indicator files into the Indicators folder.

Step 6

Copy every .set file into the Presets folder.

Step 7

Restart MetaTrader 4.

Step 8

Open your preferred currency pair chart.

Step 9

Select the recommended timeframe.

Step 10

Drag Prop Firm EA onto the chart.

Step 11

Enable AutoTrading.

Step 12

Load your preferred SetFile.

Step 13

Confirm the EA is active.

Included Download Package

Expert Advisor

• Prop Firm EA v2.0.ex4

Indicators

• EA_Prop_Firm_V1.ex4
• urdala_news_investing.com.ex4
• EA_Prop_Firm_V1_Indicator_Fixed.ex4

Included SetFiles

• USDJPY M15
• USDCAD M15
• GBPUSD M5
• GBPNZD M15
• GBPAUD M15
• EURUSD H1
• EURNZD M15
• EURJPY M15
• EURGBP M15
• EURAUD M15
• CADJPY H1
• CADCHF M5
• AUDUSD M30
• AUDCAD M15

Who Should Use Prop Firm EA?

This EA may be suitable for:

• Beginner Forex traders learning automation
• Experienced MT4 traders
• Algorithmic trading enthusiasts
• Traders preparing for prop firm evaluations
• Traders seeking configurable risk management
• VPS users
• Traders who prefer rule-based execution

Pros

• Easy installation
• Multiple optimized SetFiles
• Unlimited license
• Flexible risk settings
• Supports many currency pairs
• MT4 compatible
• No DLL required
• Beginner friendly
• VPS compatible
• Customizable money management

Cons

• Automated trading does not guarantee profits.
• Results vary depending on market conditions and broker execution.
• Regular monitoring and optimization are recommended.
• Historical performance does not guarantee future results.

User Review

Many traders appreciate the EA for its straightforward setup, customizable settings, and compatibility with MT4. Users often highlight the included SetFiles and risk management options as useful starting points. As with any automated trading system, experiences differ based on trading conditions, broker execution, and individual configuration.

Frequently Asked Questions (FAQ)

Is Prop Firm EA compatible with MetaTrader 4?

Yes.

Does it include SetFiles?

Yes. Multiple preset files are included.

Can beginners use it?

Yes, although understanding MT4 and basic risk management is recommended.

Which currency pair performs best?

Performance depends on market conditions. The included SetFiles cover several major and cross pairs for testing.

Can I use it on a VPS?

Yes. A VPS is recommended for uninterrupted automated trading.

Does it guarantee passing a prop firm challenge?

No. No Expert Advisor can guarantee success in proprietary trading evaluations or profitable trading.

Is backtesting recommended?

Yes. Always backtest and forward test before using the EA on a live account.

Complete Settings Overview

• Auto Lot Size
• Fixed Lot
• Risk Percentage
• Stop Loss
• Take Profit
• Trailing Stop
• Break Even
• Drawdown Protection
• Spread Filter
• Session Filter
• News Filter (if supported)
• Magic Number
• Slippage Control
• Maximum Open Trades
• Trade Direction Filters

Final Verdict

Prop Firm EA MT4 v2.0 + SetFiles (Unlimited) is a feature-rich Expert Advisor for MetaTrader 4 that offers automated trading, customizable risk management, and a variety of preset configuration files. Its flexibility makes it a tool worth evaluating for traders interested in algorithmic trading or preparing for prop firm evaluations.

However, automated trading involves significant financial risk. No EA can guarantee profits or successful completion of a prop firm challenge. Thorough backtesting, forward testing, and disciplined risk management are essential before using the EA on a live account.

Conclusion

Prop Firm EA MT4 v2.0 + SetFiles (Unlimited) provides traders with an automated trading solution for the MT4 platform. With multiple SetFiles, configurable settings, and support for various currency pairs, it offers flexibility for users who want to explore algorithmic trading. Traders should carefully test the EA, optimize settings for their broker and account type, and apply sound risk management practices to evaluate whether it meets their trading objectives.