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.
  • Spreads – Choose a broker that does not have excessively high spreads.  The lower the spread the better, as it makes it easier (quicker) for the EAs to reach profit targets and close trades. However, having exceptionally low spreads is not a requirement as the EAs are not scalpers. Some brokers do have higher spreads on particular pairs (e.g. EURNZD can vary across brokers) so an alternative broker offering better spreads is preferable.
  • Swaps - these are overnight trade carryover amounts added to open trades (can be both positive or negative) which differ between pairs and brokers. Compare swaps for the traded pairs and choose a broker that does not have excessive negative swaps. Some brokers offer swap free (sometimes known as Islamic accounts) where there is no swap applied to your trades. Sometimes it is as simple as clicking a ‘swap free’ option when opening your account, or you have to provide some proof as being eligible. If you are eligible for this option, it is recommended to select it.
  • ECN v non-ECN – An ECN (or STP) broker typically offers very tight spreads in return for a commission charged on every trade. EuroHammer works with both ECN and non-ECN brokers so you have a choice.
  • Minimum Lot Size – Historically some brokers (usually ECN) did not offer lotsizes below 0.1. This is important as it is also linked to required account balance to support trading of FourLeafClover / EuroHammer.  However, nearly all brokers now offer lotsizes from 0.01 upwards.which is perfect and allows full flexibility,
  • Leverage – Choose a broker that offers sufficient leverage. Leverage of 1:500 is ideal, but not essential - lower levels of leverage are acceptable, but you may wish to increase your minimum account balance or trade with a smaller lotsize to compensate.  Details are included in the Installation & Setup Guides).
  • 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, but can operaate in an environment that does not allow it and has a setting for this.  EuroHammer requires Hedging to be enabled (much more profitable),  Therefore choose a broker that allows this (this may be easier / more difficult depending on your physical country of residence).
  • Account Type: Standard v CENT + Spread Betting – Depending on your level of capital, you may wish to use 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. The EAs can also trade on MT4 spread betting accounts where any profits are not subject to tax. Choose a broker that supports an account type which suits your available balance and requirements.

Q. Which currency pairs can FourLeafClover / EuroHammer trade?

A. FourLeafClover supports the following pairs, so it covers quite a number of bases :-

  • AUDCAD (Australian Dollar v Canadian Dollar)
  • USDCAD (US 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. How many trading accounts can I use FourLeafClover / EuroHammer 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.

Copyright © FourLeafClover FX 2021.  All Rights Reserved.

Lower balance startup with funds top-up (if required) is also an option.

A. For EuroHammer the minimum recommended starting balance is :-

  • $30 (or equivalent account base currency) for a Cent account
  • $3,000 (or equivalent account base currency) for a Standard account

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

A. For FourLeafClover the recommended minimum 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. 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.)

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

A. Please refer to the Purchase page for the current annual / one month cost.  There are no auto-recurring fees or charges and you are free to renew your subscription if you wish.

A. EuroHammer trades the following pairs :-

  • EURAUD (Euro v Austrailian Dollar)
  • EURCAD (Euro v Canadian Dollar)
  • EURNZD (Euro v New Zealand Dollar)

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

A. Yes.

Q. Do you have a refund policy?

A. Yes - If the EA has not made a profit within 30 days of receipt, then you are entitled to a full refund of the purchase price.  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 respective Installation and Setup Guide and that your MetaTrader terminal has a stable connection to your broker.

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

A. Yes.  FourLeafClover / EuroHammer will open, monitor, manage and close their own trades.  They 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 / EuroHammer trades, or tie up all available margin.

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

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

Lower balance startup with funds top-up (if required) is also an option. 

Account funding, account types and risk settings are covered in detail within the Installation & Setup Guides that you will receive with the EAs.

FourLeafClover and EuroHammer Forex Trading Robots (Expert Advisors). Automated Profitable FX Trading Solution for MetaTrader