Q. What level of account balance is required to trade FourLeafClover?

A. The minimum recommended starting balances are :-

  • $30 (or equivalent account base currency) for a Cent account trading ONE pair
  • $3,000 (or equivalent account base currency) for a Standard account trading ONE pair
  • $80 (or equivalent account base currency) for a Cent account trading ALL pairs
  • $8,000 (or equivalent account base currency) for a Standard account trading ALL pairs

Q. How much does FourLeafClover cost and are there any recurring fees or charges?

A. Please refer to the  Purchase  page for the current annual cost.  There are no auto-recurring fees or charges and you are free to renew after the year if you wish.

Q. Does FourLeafClover work on both 5 digit and 4 digit brokers?

A. Yes.

Q. Which currency pairs can FourLeafClover trade?

A. All of the following pairs are supported, so it covers quite a number of bases :-

  • USDCAD (US Dollar v Canadian Dollar)
  • AUDCAD (Australian Dollar v Canadian Dollar)
  • AUDNZD (Australian Dollar v New Zealand Dollar)
  • EURGBP (Euro v Great Britain Pound)
  • AUDUSD (Australian Dollar v US Dollar)
  • GBPUSD (Great Britain Pound v US Dollar)
  • EURUSD (Euro v US Dollar)
  • NZDUSD (New Zealand Dollar v US Dollar)

Q. Do I have to pay for future updates?

A. No, all future updates will be free of charge (this includes additional features, additional pairs, trading strategy updates, rework for MetaTrader updates, etc.)

Copyright © FourLeafClover FX 2019.  All Rights Reserved.

Q. Broker selection - which broker should I choose?

A. Select a broker having considered the following :-

  • Safety of Funds – Choose a broker where you consider your trading funds will be safe. Ensure you are happy with their regulatory status and that they are not a ‘bucket shop’. Websites such as www.forexpeacearmy.com can help you choose a reputable broker.
  • Leverage – Choose a broker that offers sufficient leverage. Leverage of 1:500 is ideal, but not essential - lower levels of leverage are acceptable, but this has a bearing on minimum recommended account balance (a detailed settings table with information related to leverage, account balance and trading modes is included within the FourLeafClover Installation & Setup Guide ).
  • Spreads – Choose a broker that does not have excessively high spreads.  The lower the spread the better, as it makes it easier (quicker) for FourLeafClover to reach its profit targets and close trades. However, having exceptionally low spreads is not a requirement as the EA is not a scalper. Some brokers do have rather high spreads on particular pairs (e.g. AUDNZD & AUDCAD) so an alternative broker offering better spreads is preferable.
  • ECN v non-ECN – An ECN (or STP) broker typically offers very tight spreads in return for a commission charged on every trade.  FourLeafClover works with both ECN and non-ECN brokers so you have a choice.  Please also note the next point though regarding minimum lot size.
  • Minimum Lot Size – To use FourLeafClover with a trading mode setting less than 10, requires your broker to support lot sizes less than 0.1 – i.e. opening of trades with the minimum lot size of 0.01 must be supported. This is important as it is also linked to required account balance. Typically, most true ECN brokers only support a minimum lot size of 0.1 so that may rule them out depending on your available account balance. However, there are some ECN brokers such as Pepperstone that do support lot sizes from 0.01 upwards.
  • Hedging – some brokers do not allow hedging (i.e. trading the same currency pair in both directions simultaneously).  FourLeafClover is more profitable on brokers where hedging is allowed, so choose one of those if possible (this may be easier / more difficult depending on your physical country of residence).
  • Account Type: CENT v Standard – Depending on your level of capital, you may wish to use FourLeafClover on a CENT account rather than a Standard account. Some brokers offer both account types, and others only offer standard accounts. The definition of a Standard account is one where 1 lot is equivalent to 100,000 units of base currency. The definition of a CENT account is one where 1 lot is equivalent to 10,000 units of base currency. Depending on your available account balance, choose a broker that supports an appropriate account type.
  • Swap Free – some brokers offer swap free (sometimes known as 'Islamic' accounts) where there is no swap (positive or negative) applied to your trades. Sometimes it is as simple as clicking a ‘swap free’ option when opening your account. If this option is available, it is recommended to select it as FourLeafClover normally has trades open for a reasonable period of time and brokers swap rates can eat into profits. However, a swap free account is far from essential (NB. Swap is accrued [positive or negative] when your trades 'rollover' each day and depend on your brokers swap rates).

Q. What types of MetaTrader 4 accounts can I trade FourLeafClover on?

A. FourLeafClover will happily trade on Cent or Standard accounts and can be used with 'market maker' or pure ECN / STP broker accounts.  It will also trade on spreadbetting MetaTrader 4 accounts, but please be aware that these usually have different pip values and higher minimum lot sizes so you will need to tailor risk settings accordingly.

Q. Do you have a refund policy?

A. Yes - If after receiving the EA, it has not made a profit after 30 days (from date of receipt) then you are entitled to a full refund.  The conditions of this refund are that you have setup the EA correctly on your live trading account with the recommended minimum balance and appropriate risk setting for that balance as specified within the Installation and Setup Guide and that your MetaTrader terminal has a stable connection to your broker.

Refer to the Account Type info within the Broker selection section below regarding Cent v Standard trading accounts.  Account funding, account types and risk settings are covered in detail within the FourLeafClover Installation & Setup Guide that you will receive with the EA.

Q. How many trading accounts can I use FourLeafClover on?

A. Your licence entitles you to trade on one live account and unlimited demo accounts.  You may buy additional licences at a reduced price under the same account holder name.  Please refer to the  Purchase  page for more details.

Q. Can I trade FourLeafClover on the same account as other EAs or where I place trades manually?

A. Yes.  FourLeafClover will open, monitor, manage and close it's own trades.  It will not interfere with other trading being performed  on the account.  However, it is important to be certain that any other EAs in use on the same account do not interfere with FourLeafClover trades or tie up all your available margin.

FourLeafClover Forex Trading Robot (Expert Advisor). Automated Profitable FX Trading Solution for MetaTrader