Why? Because MetaQuotes has continuously improved obfuscation and encryption in EX4 files since build 600 (released in 2014). Most public decompilers on GitHub are:
, or outdated tools that only work on EX4 files built with very old versions of MetaTrader 4 (typically pre-build 600). Current State of EX4 Decompilation ex4 to mq4 decompiler github verified
If you still insist on using a free decompiler, treat every GitHub result as unverified until you complete the testing steps above. The risk of malware and wasted time is simply too high in an industry where one malicious EA can drain a brokerage account. Current State of EX4 Decompilation If you still
Some useful tools on GitHub (e.g., Ex4-Info ) don’t decompile but read metadata: compilation time, required build, and whether an obfuscator was used. These are legitimate and open-source. These are legitimate and open-source