Ilan ProTrader EA MT4 – Free Download

Introduction

The Ilan ProTrader EA has long been a mainstay among automated trading tools. This forex advisor, with its adaptable settings and user-friendly interface, remains a popular choice for both beginner and experienced traders. In this article, we’ll explore its key features, evaluate its advantages and disadvantages, and assess its performance as a trading tool.

Technical Specifications

Version: 6.1
Year of issue: 2025
Working pairs: Any
Recommended timeframe: M15
Minimum Deposit: $1000
Average of account: 1:30 To 1:1000

Best Brokers List

Ilan ProTrader EA System works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

 Ilan ProTrader EA Settings

Performance Results 

The performance of the Ilan ProTrader EA largely depends on how it is configured, the market conditions, and the level of trader intervention. Below is a detailed breakdown of its results based on typical usage scenarios:

1. Backtesting Results

Backtesting provides valuable insights into how the Ilan performs under historical market conditions. Here are some common observations:

• Ranging Markets:
  The Ilan tends to perform well in ranging (sideways) markets where price movements oscillate within defined boundaries. Its martingale-like strategy capitalizes on frequent reversals to recover losses and lock in profits.
  • Win Rate: Often exceeds 70% in such conditions.
  • Drawdowns: Moderate, as the market does not trend strongly in one direction.
• Trending Markets:
  Performance declines significantly in trending markets, particularly when trends persist without sufficient retracements. This is due to the increasing position sizes dictated by the martingale strategy.
  • Win Rate: Drops to around 50% or lower.
  • Drawdowns: Can become severe, potentially wiping out accounts without strict risk management.

2. Live Trading Results

Live trading outcomes may vary based on real-time conditions, execution speed, and broker settings. Some typical findings include:

• Profitability:
  • Short-Term Results: Many users report initial success due to favorable market conditions or luck.
  • Long-Term Results: Sustainability depends on market type and risk management. Poorly configured settings often lead to account drawdowns.
• Return on Investment (ROI):
  Users employing conservative settings with low lot sizes and strict risk management report steady but modest ROI.
  High-risk configurations with aggressive lot multipliers may yield large short-term gains but significantly increase the risk of account loss.

3. Risk and Drawdown Analysis

One of the biggest challenges with the Ilan advisor is managing drawdowns:

• Maximum Drawdown:
  • Ranging Markets: Typically below 20-30% when configured correctly.
  • Trending Markets: Can exceed 50% or lead to margin calls if unchecked.
• Risk of Ruin:
  The martingale strategy increases the risk of ruin during prolonged losing streaks, especially if no stop loss is used.

4. Scalability and Account Size

The Ilan advisor is scalable across account sizes, but the results vary:

• Small Accounts:
  High-risk settings on small accounts often result in quick profits but also quick losses.
• Large Accounts:
  Better suited for low-risk configurations, as larger account balances can absorb drawdowns more effectively.

What is the Ilan ProTrader EA?

The Ilan ProTrader EA is an automated trading advisor (also known as an EA or Expert Advisor) designed for the MetaTrader 4 platform. It employs a martingale-like strategy to generate profits by capitalizing on market movements. Its reputation precedes it, as even novice traders are likely to have encountered or heard about its capabilities.

Key Features of the Ilan ProTrader EA

The Ilan advisor provides a robust set of features and settings that make it adaptable to various trading strategies and market conditions. Below is a breakdown of its key functionalities:

1. Comprehensive Advisor Settings

The Ilan’s settings are designed for flexibility and control, allowing users to customize their trading strategies to match their preferences and risk tolerance. Key settings include:

• MagicNumber: A unique identifier for transactions, ensuring no interference between multiple advisors or manual trades.
• Trade Direction: Options to trade only buy positions, only sell positions, or both directions simultaneously.
• Step and TakeProfit: Adjustable parameters for transaction intervals and profit targets, automatically calibrated for 4- and 5-digit quotes.
• Lot Settings: The starting lot size and a lot coefficient for scaling positions, making it suitable for accounts of all sizes.
• Risk Management Tools: Includes a limit on the number of trades in one direction and a stop loss for the last trade in the series to mitigate risks.

2. Multiple Advisors on One Account

The  Ilan ProTrader EA supports running multiple instances simultaneously on the same account or even the same trading instrument. Each advisor operates independently, managing its trades without interfering with others.

3. Manual and Automated Trading Compatibility

Traders can manually trade alongside the Ilan without disrupting its operations. Users can also start or stop the advisor at any time, even when positions are open.

4. Specialized Operating Modes

• CloseAndStopNow Mode: Allows users to close all positions and halt the advisor’s operations immediately.
• Selective Closing Modes: Traders can prevent the opening of new series while waiting for existing series to close in profit.

Advantages of Using the Ilan ProTrader EA

1. Customizability: The Ilan’s settings are versatile, making it easy to tailor strategies to different market conditions or trading goals.
2. Hands-Free Trading: Automation eliminates the emotional element of trading, ensuring that trades are executed based on predefined rules.
3. Scalability: The adjustable lot settings and step sizes allow traders to use the Ilan effectively on accounts of varying sizes.
4. Risk Management: Built-in tools such as stop loss for the last trade and maximum trade limits help reduce potential losses.
5. Independence: Running multiple advisors or manually trading alongside the Ilan ensures flexibility for diverse strategies.

Disadvantages and Risks

Despite its advantages, the Ilan advisor has notable drawbacks and risks that traders should carefully consider:

1. Martingale Strategy Risks: The Ilan relies on a martingale-like approach, which involves doubling down on losing trades. While this can recover losses, it also amplifies risks, potentially leading to significant drawdowns during market trends.
2. Market Dependency: The Ilan performs best in ranging markets. In strongly trending markets, its effectiveness diminishes, and risks increase.
3. Complex Settings for Novices: While customizable, the variety of settings may overwhelm beginners unfamiliar with forex trading principles.
4. No Guaranteed Profitability: Like all trading tools, the Ilan does not guarantee profits. Success depends heavily on market conditions and proper configuration.
5. Manual Intervention Required: In volatile markets, users may need to intervene to prevent runaway losses, undermining the “hands-free” aspect.

Is the Ilan ProTrader EA Worth It?

The Ilan ProTrader EA is a powerful tool with broad appeal. Its adaptability, risk management features, and compatibility with manual trading make it a versatile choice. However, its reliance on a martingale strategy means it’s not without risks, particularly in trending markets.

While it is not a recommendation to use the Ilan, traders intrigued by its features should approach with caution, ensuring proper backtesting and risk management practices before deployment.

Conclusion

The Ilan ProTrader EA is a double-edged sword: it can yield substantial rewards in the right conditions, but it also carries significant risks. Its success hinges on thoughtful configuration, understanding of market dynamics, and disciplined risk management.

For those willing to invest time in learning its nuances and adapting it to their needs, the Ilan can be a valuable tool in a trader’s arsenal. However, it is essential to remember that no advisor, no matter how advanced, is a substitute for careful planning and sound trading principles.