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How to audit an MT5 backtest — the free QuantKit checklist

Audit the report before you pay. Work through the checks below on any MT5 Strategy Tester report, yours or a seller’s. It is free, and you only need the paid tools if the checklist isn’t enough.

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The checklist

Embedded from the QuantKit method host. If the frame does not load, open the checklist in a new tab. A clean audit means the arithmetic and structure were checked, not that the EA will make money. Not financial advice. See also the full article and VerifyEA. See the sample report.

12 checks before you trust an equity curve

Free. Print it, use it on any MT5 report — ours or anyone’s. Each check says what to look for and how to verify it, using only the report and the files behind it.

  • Checks12
  • PriceFree
  • Works onAny MT5 report
  • Version1.0, 15 Oct 2026

Use your browser’s print command; the page prints as a checklist with a box beside each check. If a check cannot be run because the evidence is missing, mark it unverified, not passed.

Derived from the method behind every figure on this site. Escalate when the hand checklist isn’t enough: Free VerifyEA, Honesty Screen · $19 or VerifyEA Core · $149 (plans & details).

  1. Bar indexing

    Look for
    Entries that open on a different candle from the one the signal formed on.
    Verify
    Take the first ten trades and compare each open time with the MT5 report. The EA decides on the last completed bar; a re-run that reads the forming bar is off by one. Example finding

  2. Trade-count parity

    Look for
    An independent re-run that produces fewer or more trades than MT5 over the same dates.
    Verify
    Count trades in both over identical dates. Treat any gap beyond a stated tolerance as a fault in the re-run until it is explained. Example finding

  3. Lot sizing

    Look for
    Position sizes that do not follow the stated risk per trade.
    Verify
    Recompute the first trade: (balance × risk %) ÷ (|entry − stop-loss| × value per price unit per lot). Take the value per unit from the broker’s symbol specification. Example finding

  4. Commission and swap accounting

    Look for
    Results shown before costs, commission assumed at a rate the broker does not charge, or swap ignored on overnight holds.
    Verify
    Rebuild one closed trade: gross result minus round-turn commission minus swap. Compare the commission with the broker’s published rate.

  5. History quality

    Look for
    A history-quality figure below full coverage, or ticks and bars that look too few for the period.
    Verify
    Read it in the report header. If coverage is partial, treat every other conclusion as limited by it.

  6. Model choice

    Look for
    A tester model that does not match how the EA trades, such as open-prices-only for an EA that acts mid-bar.
    Verify
    Read the model in the header. Every-tick enters at the first tick after the bar closes, not at the close price, so a bar-based re-run differs by design; know which one you are comparing.

  7. Spread assumption

    Look for
    A spread in the test that is not the spread the broker charges at the times the EA trades.
    Verify
    Compare the tester’s spread setting, or the data vendor’s spread, with the broker’s published or measured spread for that instrument.

  8. Cooldowns and filters

    Look for
    Guards that block new signals while a trade is open, or cooldowns the EA does not have.
    Verify
    List every filter in the re-run and find its counterpart in the EA’s inputs. A filter with no counterpart is a finding.

  9. Parameters against trades

    Look for
    Many tuned inputs fitted to few trades.
    Verify
    Count the inputs that were optimised and divide the trade count by that number. The fewer trades per input, the less the result shows.

  10. Walk-forward sanity

    Look for
    An out-of-sample claim made by splitting one optimised run after the fact.
    Verify
    Look for separate, dated in-sample and out-of-sample runs and a written boundary for parameter selection. If a Monte Carlo is quoted, find its method; shuffling trade order tests sequencing, not independent validation.

  11. Data-source note

    Look for
    A report that does not say where its prices came from, which server, or which symbol specification.
    Verify
    Find the data source, broker server and time zone stated beside the result. If they are missing, mark the check unverified.

  12. Reproducibility hash

    Look for
    A result you cannot tie to a specific EA file, settings file and report file.
    Verify
    Check that hashes are recorded for all three, then re-hash your copies and compare. A result that cannot be run again is a claim, not evidence.

quantkit.co/verify/audit-checklist/#twelve-checks · Free to print. A passed checklist is not a profitability verdict or financial advice.

A passed checklist says the arithmetic holds. It does not say the expert advisor will make money, and nothing here is financial advice. Claims policy: how QuantKit is paid and what it claims.

Keep reading

Same method — audit the report before cash leaves your account.

FAQ

Is the free checklist enough?

For a first pass on any seller HTML/PDF, yes. Use it to decide whether the report is even worth automating. Escalate to free VerifyEA, Honesty Screen · $19, or Core when the deal list is long or you want mechanical red-flag helpers.

Do I need VerifyEA Core if I’m only buying an EA?

Not always. Start free. Core helps when you need full-report tooling, out-of-sample comparison, Monte Carlo-style path checks, or prop-firm rule presets before you pay.

Does an audit mean the EA will be profitable?

No. A clean audit means the arithmetic and structure were checked. It does not predict forward returns or certify a file wasn’t edited.

Why is checkout on Whop and Gumroad?

VerifyEA lives on the QuantKit Whop store. The Trader Complete Toolkit and other workflow tools check out on Gumroad. Same QuantKit brand — use the ladder above so you don’t buy the wrong thing first.

Is my MT5 report uploaded?

VerifyEA’s offline framing is local/CLI for the free tier and Core as documented on the product page — confirm on Whop before you buy. The free checklist is a hand method (and the on-site wrap); it does not require uploading a report to QuantKit.

What about prop firm rules?

Always re-read the firm’s current page and date it. Balance-only replays can miss equity-based breaches. Treat “no breach on balance” as a screen, not a pass forecast.