How to test an XAUUSD EA on an MT5 demo account

1. Prepare a suitable MT5 demo account

Create a MetaTrader 5 demo account with the broker conditions you expect to use later. Note the exact MT5 login number and broker server name; both are used for GrowWise licence validation. Confirm that XAUUSD is visible in Market Watch. Some brokers use a suffix such as XAUUSDm, so symbol naming should be checked before testing.

Choose a realistic starting balance and leverage. An oversized demo balance can hide margin pressure and make results look easier than they would be on the intended live account.

2. Install the compiled EA

1. In MT5 select File → Open Data Folder.
2. Open MQL5 → Experts.
3. Copy the protected GrowWise EX5 file into the Experts folder.
4. Return to MT5 and refresh Expert Advisors in Navigator.
5. Open the XAUUSD chart and select the timeframe specified for the EA.

Use the compiled EX5 supplied through the official GrowWise Algo download page. The source MQ5 file is not required for customer installation.

3. Allow online licence verification

Open Tools → Options → Expert Advisors. Enable “Allow WebRequest for listed URL” and add https://growwisealgo.in. This permission lets the EA confirm whether the licence is active for the current account. It does not give the website your broker password or withdrawal access.

If MT5 returns WebRequest error 4014 or a server error, check the allowed URL, internet connection and whether automated trading is permitted. If the EA shows HTTP 403, verify that the licence key belongs to the exact MT5 account and broker server currently shown in MT5.

4. Activate and attach the EA

Submit the trial form with the same MT5 login and broker server. After approval, copy the issued licence key into the EA’s licence input. Attach the EA to the chart and enable Algo Trading. A valid trial should show an active licence and enabled orders; an expired, blocked or mismatched licence should prevent new entries.

GrowWise Algo checks licence status regularly. The protected file can remain installed after expiry, but it should not open new trades without active access.

5. Keep the first test controlled

• Use a small fixed lot such as 0.01 while verifying behaviour.
• Test one EA version and one settings profile at a time.
• Do not change direction or risk inputs after each individual loss.
• Keep MT5 connected and record any rejected orders or platform errors.
• Confirm that every entry receives the intended stop-loss and take-profit.

A demo test should cover enough trades and market conditions to expose both winning and losing periods. Avoid judging the system from a single day.

6. Review results that matter

Measure net profit after commissions, maximum drawdown, total trades, win rate, average win, average loss and the largest losing sequence. Compare the actual risk-reward on closed trades with the configured setting. Also note spread, slippage and whether trades occurred during unusually volatile news periods.

Demo execution is useful for functional testing but is not identical to live execution. Before using real money, decide a maximum acceptable loss, start with the smallest practical exposure and monitor the first live trades closely.