FX AlgoTrader products are licensed to specific MT4 numbered accounts. Customers can have up to 4 MT4 accounts registered on the server at any time and they can make changes to these accounts whenever they want to at no cost.

DO NOT BE PUT OFF! Some potential customers don't like the idea of having to disclose their MT4 numbers because they think someone could hack into their account. Well, it's not as easy as that. In order to access somebody else's MT4 account you would need to know the following information:-

• The MT4 account number
• The broker where the MT4 account is lodged
• The client username (NEVER disclose this to anyone)
• The client password (NEVER disclose this to anyone)

We ONLY need the MT4 account number to enable the FX AlgoTrader products to run. We don't want to know ANYTHING else about your MT4 account. Traders who are worried about disclosing their account numbers are worrying unnecessarily about account security.

What is the justification for license management?

When FX AlgoTrader was launched in 2009 we provided free demo software which traders could download for a limited trial period. Unfortunately certain individuals took advantage of this by decompiling the executable files, stripping out the copy protection code and then illegally distributing (and even selling) the software via download sites. It took about six months to get all the illegal software removed from the web! We would far rather spend our time developing better software than closing down download sites!

As a result of this unfortunate experience we felt it necessary to protect our intellectual property and also the investment in FX AlgoTrader made by our customers. Our goal is to develop long term relationships with successful traders as this is one of the cornerstones of our development model. Trader input from our install base is hugely important to us. It creates a virtuous circle of improvement for all parties.

How does the License Management work?

Since mid-2011 all FX AlgoTrader products use a web based license management system which cross references the client's MT4 account numbers with a license database hosted at our internet service provider in the USA.

After a customer purchases an FX AlgoTrader product(s) they will be automatically directed to a web page which asks them for details of the MT4 accounts they would like to run the software on. Existing customer do not need to bother filling in the form unless they want to make changes to their registered licenses.

As soon as we receive the MT4 account numbers we process the order and send the customer an email which looks similar to the one below:-

The email contains:-

• Confirmation of the licensed MT4 account numbers
• Confirmation of the customer's unique FX AlgoTrader reference number
• An HTML based installation guide with video support
• Download links for the product installer
• Technical Data Sheets specific to the product
• Link to the FX AlgoTrader technical support area
• Contact details

Essentially everything the trader needs to get themselves up and running.

What information is needed to set up the account on the web server?

All we need from our customers is their MT4 account numbers - nothing more. We only store the MT4 account numbers, a proprietary customer reference number and a proprietary customer identifier field. The database cannot be read by third parties as the login data is encrytped. As an additional security measure the database only grants read only access in the event the encrypted login data is compromised.

How many accounts can I register?

Currently FX AlgoTrader customers can register up to four (4) Metatrader accounts on the web server - they can be any combination of live or demo accounts. If there is enough demand for more than 4 registered accounts we would be happy to increase this limit by modifying the database schema. If traders need to run FX AlgoTrader products on more than four MT4 accounts at the same time please contact us to discuss this (everything is possible)

What happens if my account numbers change?

Your MT4 account numbers will change from time to time. This could happen if you open new brokerage accounts, set up new demo accounts, refresh expired demo account etc.

To register or change your existing registration details we have a special web page which is very easy to use. If we're online (we are generally for about 12 hours/day) we can update your account details within 5 minutes of receiving the change request.

Does the license Management effect system performance?

Hardly at all. The only times MT4 queries the web server to verify license data is:-

• When an FX AlgoTrader product is initially loaded on a chart. It takes roughly 1000 milli seconds (1 second) for MT4 to query the FX AlgoTrader license database. After this the indicator or EA will run at exactly the same speed as a normal clientside indicator or EA (that's exactly what it is anyway!)
  
  
• When MT4 is closed and re-launched. The same process described above takes place. Once the system verifies the account is registered the product performs at exactly the same speed as standard client side MT4 indicators or EAs.

Still not happy?

If you are interested in FX AlgoTrader products but still have concerns over our licensing model please don't hesitate to get in touch. We can put you in touch with existing customers and we can also work through any concerns you have.

Refund Policy

FX AlgoTrader operate a refund policy which is applicable within the first 5 days after purchase. The refund policy is valid where the licensed software does not perform to the quoted specification. The customer MUST first inform FX AlgoTrader of the non performance issue via email. If no satisfactory solution is provided by FX AlgoTrader within 5 days a refund will be issued. FX AlgoTrader reserve the right to deduct a 15% administration fee at their discretion.

SPECIFIC CIRCUMSTANCES WHICH FALL OUTSIDE THE REFUND POLICY

• LICENSE MANAGEMENT OBJECTION

Where a customer requests an immediate refund due to objections over FX AlgoTrader's license management model, a 15% administration charge will be deducted from the original purchase price. Licensing details are clearly displayed on all product pages.

• UNREALISTIC EXPECTATIONS

FX AlgoTrader have no contol over market dynamics, trade frequency, system profitability, configuration settings, trading timeframes or how traders use the licensed software. Where customers claim an FX AlgoTrader product does not meet their desired trade frequency or expecatations regarding system profitability - the refund policy will not apply.

• FAILURE TO FOLLOW SUPPORT GUIDANCE

Where customers fail to follow or choose to ignore technical support guidance provided by FX AlgoTrader - the refund policy will not apply.

• STRATEGY CHANGE

Where customers decide their trading style no longer suits the FX AlgoTrader products they purchased - the refund policy will not apply.

• PAYPAL DISPUTES

Customers must contact FX AlgoTrader's technical support department if they experience any problems with their licensed products. Where customers immediately open a Paypal dispute without first contacting FX AlgoTrader technical support - the refund policy will not apply.

Requests for Code Changes on cancelled subscription licenses

Customers who cancel an automated payment profile for a subscription based product will forfit the option to request free code changes or enancements to their licensed programs from the date of cancellation onwards.