Position Sizer: Pricing, Features and Trading Checks

Position sizing and risk

EarnForex Position Sizer is a free, open-source Expert Advisor for MT4 and MT5. It calculates trade size from entry, stop-loss and chosen risk and can place orders from its chart panel.

This profile describes vendor documentation, not hands-on testing or approval by any trading firm.

Vendor-source profile · Sources read 18 October 2026 · No rating assigned

Visit Position Sizer official site

Pricing and billing

The official page describes Position Sizer as completely free and open source. Broker trading costs and the underlying MetaTrader account are separate.

Position Sizer for MT4/MT5

Free / EA download

No software subscription described

Sizing panel and optional trade execution; MT5 has additional functions

Free software does not remove broker fees, spreads, commissions or trading risk. Source: official pricing.

Check calculations on the actual account and test order handling before live use. A calculated stop-loss risk is not a guaranteed maximum realised loss.

Who Position Sizer suits

Consider it for stop-based sizing

The on-chart workflow can reduce repeated manual lot calculations when entries or stop distances change.

Do not confuse size with loss control

Sizing estimates do not prevent gaps, slippage or multiple positions exceeding a firm-wide loss rule. Trade execution means EA permission matters even without automated signals.

Position Sizer features

Capabilities below come from the linked official material. Availability can depend on plan, connection or account permissions.

Risk-based lot calculation: Calculates lots using entry, stop-loss, risk tolerance, account size, currency and conversion rates.
Chart lines and ATR: Drag entry, stop-loss and take-profit lines or use point distances and ATR multiples.
Margin and swaps: Separate tabs show margin information, potential maximum size based on free margin and instrument swaps.
Order execution: The EA can place the calculated trade and split positions across multiple take-profit levels.
MT5 additions: The vendor documents stop-limit orders and automatic commission fetching on MT5.
Manual testing: The page documents manual strategy backtesting through Strategy Tester and requires no DLL imports.

Platforms and market access

Position Sizer is an EA installed in a compatible MetaTrader terminal. It can calculate sizes for broker-provided currencies, CFDs, equities, indices, commodities, futures and crypto symbols; coverage depends on the broker.

MetaTrader 4MetaTrader 5

Check platform and connection requirements ↗

Before connecting Position Sizer to a prop firm account

Check the exact account, data access and operating rules before using this tool with live trading.

Check EA permission. Ask whether the firm permits an EA that calculates size and can submit orders.
Verify symbol specifications. Check tick value, lot step, contract size, minimum volume and account currency against the broker.
Test the risk basis. Confirm whether balance, equity or a custom account amount is used. Check commission and spread assumptions.
Check existing exposure. Review open and pending orders alongside daily loss and trailing drawdown limits before submitting another trade.

Compare tools before choosing

For more tools, browse the trading tools directory.

Position Sizer questions

Is Position Sizer free?

Yes. EarnForex describes it as completely free and open source, with no DLL imports required.

Is it an indicator or an EA?

The current tool is an Expert Advisor. It evolved from the Position Size Calculator indicator and includes order-execution functions.

Can it trade automatically from the calculation?

The panel can submit orders based on the calculated size. That does not make it a documented autonomous signal strategy.

Does it work on MT4 and MT5?

Yes. MT5 has extra functionality, including stop-limit orders and automatic commission fetching.

Sources and disclosure

Source record: 18 October 2026. Vendor documentation supports product claims, not independent performance validation. Based on official sources read on 18 October 2026. No hands-on performance results, review rating or firm approval is claimed. No product rating or hands-on testing is claimed.

Position Sizer official documentation · Read 2026-10-18