Description
Account Watcher for MT4 & MT5 – Real-Time Forex Account Monitoring Tool
FRZ Account Watcher is a free account monitoring tool designed for MetaTrader 4 and MetaTrader 5 users who want real-time visibility and control over their automated trading activity.
In automated trading, especially when running EAs continuously, it is critical to monitor account performance to ensure everything is functioning as expected. This forex account watcher helps you stay informed by sending automated email alerts based on predefined account conditions.
The tool allows traders to monitor equity, drawdown levels, and overall account status — helping reduce risk and maintain better oversight of automated systems.
Key Features of FRZ Account Watcher
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Real-time MT4 and MT5 account monitoring
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Automated email alerts based on custom conditions
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Daily account summary emails
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Drawdown alert notifications
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Option to disable trading after current trades are completed
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Works with any broker
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Compatible with all timeframes
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Suitable for monitoring trading robots and manual accounts
This MT4 trade monitoring EA ensures you remain in control of your trading account even when not actively watching the platform.
FRZ Account Watcher Setup and Installation Guide
Installation Steps
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Download the EA file.
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Open MetaTrader 4 or MetaTrader 5.
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Go to “File” → “Open Data Folder.”
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Copy the EA file into the “Experts” folder.
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Restart your MetaTrader platform.
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Attach the EA to any chart.
SMTP Configuration (Required for Email Alerts)
To enable email alerts, you must configure your SMTP server:
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Go to MetaTrader → Options → Email.
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Enable email notifications.
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Enter your SMTP server details.
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A free email provider such as Gmail can be used.
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Test the configuration before going live.
Video Tutorial (Older Version)
For complete setting explanations and parameter details:
Official User Manual of FRZ Account Watcher
How to Use Real-Time Equity Alerts
Once configured, FRZ Account Watcher continuously monitors:
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Account equity
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Free margin
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Drawdown levels
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Balance changes
You can define specific thresholds that trigger alerts. For example:
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Receive email when drawdown exceeds a set percentage
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Get daily performance summary
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Automatically disable trading after current trades close
This helps traders monitor MT4/MT5 equity drawdown and maintain disciplined risk control.
Who Should Use FRZ Account Watcher?
This monitoring tool is suitable for:
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Traders running automated EAs
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Traders managing multiple MT4/MT5 accounts
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Prop firm traders requiring drawdown supervision
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Traders who want automated risk alerts
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Users seeking a real-time MT4/MT5 account watcher
Technical Specifications
| Specification | Details |
|---|---|
| Product Name | FRZ Account Watcher |
| Platform Supported | MT4 / MT5 |
| Brokers Supported | Any |
| Timeframes Supported | Any |
| Current Version | 5.0 |
| Cost | Free |
Frequently Asked Questions
Is this tool free to use?
Yes. FRZ Account Watcher is available completely free for MT4 and MT5 users.
Does this work on MT5?
Yes. This product includes both MT4 and MT5 versions.
What metrics does the Account Watcher track?
It monitors equity, free margin, drawdown levels, balance changes, and sends customizable real-time email alerts.
Can it disable trading automatically?
Yes. The tool can disable trading after current trades are completed based on your configured conditions.
Recommended Broker & VPS
We recommend using a low-spread broker and a reliable VPS.
- Recommended Broker: IC Markets. If ICMarkets not available in your country, please use IC Trading.
- Recommended VPS Provider: Contabo VPS.
You may contact us on live chat in case you need any support in this regard.
Licensing & Usage Policy
Our software is licensed based on your trading account number.
Each license is linked to one trading account at a time.
✔ One-time payment = This is a one-time payment. Not a subscriptions.
✔ One license = Unlimited non-simultaneous accounts
✔ Free license transfer to new accounts online
✔ Only simultaneous usage requires multiple licenses
This means even with a single license, you can use the software on unlimited accounts (one at a time) without extra cost.
Initial licensing is handled manually. All future transfers are done via our self-service portal.
You may check out our full License Policy for more details.
Support & Updates
All paid customers receive:
✔ Access to detailed user manuals
✔ Free remote installation support for first installation (within 30 days)
✔ General live chat and email ticket support
✔ Free lifetime updates (as per policy)
You may check out our full Support Policy for more details.
Refund Policy
We offer refunds in accordance with our official refund and terms policy.
You may check out our full refund conditions before purchasing.
Risk Disclaimer
Trading in financial markets involves substantial risk and may not be suitable for all investors. Our software is provided “as is” without any guarantee of profit. You are advised to test thoroughly on demo accounts before trading live. Please review our full terms and conditions before purchasing.
Jacob H –
A handy free tool. thanks for offering it for free
Marin –
It took a while to get emails working but still a nice piece of software to keep track of your account on a vps