Free MT4 & MT5 Risk Management EA
Free MT4 & MT5 Risk Management EA built for modern traders who want cleaner execution, smarter position planning, faster order placement, and better overall risk control across their trading workflow.
Core capabilities
The expert is built around speed, risk clarity, and cleaner execution.
Open Positions Panel With Live P/L
See your exact risk and floating profit per position instantly, without doing mental math.
One-Click Break-Even and Risk-Free Stops
Move your stop loss to entry instantly to protect capital once a trade moves in your favor.
Partial Close at Three Configurable Levels
Scale out of positions automatically at predetermined levels to secure profits.
Auto Lot Size From Risk Percent, Dollar, or Fixed Lot
Calculate exact position sizing based on your account balance and risk tolerance.
Drag-Line Stop-Loss and Take-Profit on the Chart
Visually set your SL and TP levels directly on the chart before entering.
Live Performance Dashboard
Track your win rate, profit factor, and drawdown in real time.
Built-in Trading Tools Beyond Risk Management
Risk control is the core of the expert. These four tools sit alongside it inside the same MetaTrader attachment and remove the need for separate indicators, screenshot apps, or external journal software.
Trading Sessions Overlay
Visually identify London, New York, and Asian sessions directly on your chart.
Live Candle Countdown Timer
Know exactly when the current candle will close down to the second.
Auto Chart Screenshots
Automatically capture a screenshot of the chart the moment you enter a trade.
Trading Journal That Fills Itself
Every trade is automatically logged to your BrokerSift journal.
Every Trade Flows Into the Free BrokerSift Trading Journal
No more manual logging. The EA pushes your entry, exit, screenshots, and metrics directly to your private journal dashboard.
Why Forex Traders Use the Risk Management EA
A focused tool for speed, lower pressure, and cleaner trading decisions.
Fast Execution
Place trades with exact risk in seconds.
100% Free
No monthly fees or hidden costs.
Easy Setup
Install once and attach to any chart.
Safer Trading
Prevents accidental over-leveraging.
Who the Trading Risk Manager Is Built For
The expert is used daily by different kinds of MetaTrader traders. Here are the four most common workflows.
Discretionary Traders
For manual traders who want faster execution.
- Visual SL/TP placement
- Auto position sizing
Prop Firm Traders
For traders managing funded accounts.
- Strict risk limits
- Daily drawdown protection
Multi-Account Managers
For traders running multiple accounts.
- Consistent risk across accounts
- Streamlined logging
Statistical Edge Seekers
For data-driven traders.
- Automated trade logging
- Live performance metrics
Join BrokerSift
Create your free account to download the EA, access the live trading room, and use the automated journal.
Live Trade Room
Join our daily sessions.
Trading Journal
Automate your logs.
Economic Calendar
Track market events.
How the Expert Handles Your Trading Workflow
Market orders for instant execution
Buy/Sell Modes
Toggle instantly between market execution and pending orders.
Risk Management
Input your exact risk percentage or fixed dollar amount.
Staged Exits
Set up to three partial take-profit levels.
Simple Entry
Drag the lines on the chart and click execute.
Set Up the Money Management Expert in 5 Minutes
Follow these simple steps to get the EA running on your charts.
Download & Extract
Download the zip file and extract the contents.
Open Data Folder
In MetaTrader, go to File > Open Data Folder.
Copy Files
Place the EA in MQL4/Experts or MQL5/Experts.
Attach to Chart
Refresh Navigator, double click the EA, and allow algorithmic trading.
Training Videos and Tutorials
Add practical lessons that help users understand setup, risk calculation, and trade management.
PLATFORM WORKFLOW
Beginner: How to Calculate Stop-Loss and Lot Size With the Expert
A practical walk-through: pick a setup on EURUSD, decide where the stop-loss invalidates the idea, and let the expert size the position correctly.
BEGINNER
Platform Workflow: Trading the News With the Economic Calendar
How to read the BrokerSift economic calendar, plan around high-impact events, and use the expert.
BEGINNER
Risk Training: Break-Even vs Risk-Free | When to Use Each
The two buttons look similar but solve different problems. Break-even removes the trade's loss potential.
BEGINNER
Trade Management: Reading Your Dashboard | What the Numbers Mean
Win rate is half the story. Profit factor, R-multiple, and max drawdown finish it.
The Real Edge in Forex Trading Is Position Management
Most retail traders spend their time looking for the perfect entry signal. The traders who actually survive in the market spend their time on three things the entry barely affects: how much they risk per trade, where they place the stop-loss, and how they exit.
Calculators require manual input and constant adjustments. The EA reads live market data and sizes your position dynamically.
Session overlays, spread monitors, and trade loggers are all built into this single lightweight expert.
Integration with the BrokerSift journal ensures you never miss a logged trade.
Risk Management EA FAQ
Yes. Both the MT4 and MT5 versions are free to download from this page. There are no in-app purchases, time limits, or feature locks. One license key activates the expert on up to five MetaTrader accounts.
We offer dedicated versions for both MetaTrader 4 and MetaTrader 5.
It calculates lot size based on your account balance, account currency, instrument specification, and the risk percentage you set.
Yes, up to five accounts.
Yes, it is widely used by prop firm traders to manage strict drawdown limits.
It fully supports hedging accounts. Netting support is limited.
Any instrument offered by your broker on MetaTrader (Forex, Crypto, Indices, Commodities, Stocks).
Once a trade is placed, the SL and TP are stored on the broker's server, so they remain active. However, trailing stops require a live connection.
Stop Calculating Lot Size by Hand
Download the expert, attach it to a chart, and place your next trade with risk pre-calculated, stop-loss drawn on the chart, break-even one click away, and your performance landing in the dashboard automatically. Verified by BrokerSift Research Team.