Frequently Asked Questions

Frequently Asked Questions

Are the Expert Advisors really free?

Yes, 100% free. We earn a commission from XM when you open an account through our link. This allows us to provide the EAs at no cost to you. You pay the same spreads and fees as any other XM client.

Which broker do I need?

Our EAs are designed for XM (formerly XM Trading). You need to open a free XM account through our link to use the EAs. This is how we verify the IB relationship and keep the EAs free.

What is the minimum deposit?

XM allows accounts starting from $5. However, we recommend:

  • $500+ for SteadyPips EA (trend following)
  • $1,000+ for GridMaster EA (grid trading requires more margin)

Can I use both EAs at the same time?

Yes! Many traders run both EAs on different charts. A common setup:

  • SteadyPips EA on EURUSD and GBPUSD (trending pairs)
  • GridMaster EA on EURGBP and AUDCAD (ranging pairs)

Which EA should I choose?

  • SteadyPips EA — Best for trending markets. Lower risk, fewer trades, consistent returns. Good for beginners.
  • GridMaster EA — Best for ranging markets. More active trading, higher margin requirements. Better for experienced traders.

Do I need a VPS?

A VPS (Virtual Private Server) is highly recommended but not required. Without a VPS, the EA only trades when your computer is on and MT4 is running. With a VPS, it trades 24/5 uninterrupted. Read our VPS guide for details.

How do I install the EA?

  1. Download the EA file (.ex4)
  2. Open MT4 and go to File → Open Data Folder
  3. Navigate to MQL4 → Experts
  4. Copy the EA file into this folder
  5. Restart MT4
  6. Drag the EA onto a chart

For detailed instructions, see our EA installation guide.

Does it work on MT5?

Currently our EAs are MT4 only. MT5 support is planned for a future release.

What currency pairs are supported?

  • SteadyPips EA: EURUSD, GBPUSD, USDJPY, AUDUSD
  • GridMaster EA: EURUSD, GBPUSD, USDJPY, EURGBP, AUDCAD

How do I get support?

Is my data safe?

We only collect your MT4 account number (for EA activation) and optionally your email. We do not store passwords or trading data. See our Privacy Policy for details.

Can I get a refund?

The EAs are free, so there’s nothing to refund. If you’re unsatisfied, simply stop using the EA. You can also practice on a demo account first.

What if the EA loses money?

All trading involves risk. Our EAs include risk management features, but losses are possible. We strongly recommend:

  • Starting with a demo account
  • Using conservative risk settings (1% per trade)
  • Only trading with money you can afford to lose
  • Reading our risk disclosure

Disclaimer: The information provided on this website is for educational and informational purposes only. Nothing on this site constitutes financial advice, investment advice, trading advice, or any other sort of advice. You should not treat any of the website's content as such. SteadyPips does not recommend that any financial instrument should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Past performance is not indicative of future results. Trading results shown on this website are hypothetical and do not guarantee future performance.

Affiliate Disclosure: This website contains affiliate links. If you sign up with a broker through our links, we may receive a commission at no additional cost to you. This helps us maintain this website and continue providing free trading tools and educational content.