Violating these terms can lead to legal action from the software vendor.
There are limited circumstances where decompilation might be legally permissible:
If you are stuck without source code, there are safer ways to proceed than using a 15-year-old decompiler: Ex4 to Mq4 Decompiler is a scam - Forex Peace Army 20 Feb 2021 — Ex4 To Mq4 V4 Decompiler Version 4.0 5 Full Version
This is the human-readable format written by developers. It contains the logical conditions, mathematical formulas, and custom trading strategies that drive an automated bot or technical indicator.
The final MQL4 code is written to an .mq4 file. Violating these terms can lead to legal action
Variables lose their names and are replaced by generic placeholders (e.g., g_ibuf_240 or d_var_12 ).
However, this tool comes with :
An is the compiled binary executable format for MQL4 programs. When you write an indicator, EA, or script in MetaEditor and compile it, the software generates the corresponding .ex4 file. This file contains machine-readable code that the MetaTrader 4 terminal can execute directly. Importantly, it does not contain the original source code in a human-readable form .