What Is Myfxbook and How to Use It?

If you’ve ever wanted to track your forex performance like a pro, or compare your trading stats with others, Myfxbook is probably the tool you need. It’s one of the most popular web-based platforms used by traders around the world to analyze, monitor, and share their trading accounts.

But what exactly does it offer, and how can you make the most out of it—especially if you’re new to the world of trading? In this guide, we’ll walk through what Myfxbook is, how it works, and why so many traders rely on it daily.

 1. What Is Myfxbook?

Myfxbook is an automated online analytical tool that connects to your forex trading account (on platforms like MetaTrader 4, MetaTrader 5, or cTrader) and displays detailed statistics on your performance.

This includes:

-         Profit and loss history

-         Win/loss ratios

-         Risk exposure

-         Drawdowns

-         Average trade duration

-         And more

Essentially, it helps traders see what they’re doing right—and what needs improvement. It’s also commonly used to verify results in a transparent way, especially by signal providers and Expert Advisor developers.

 2. Key Features of Myfxbook

Here are some of the most useful tools and sections Myfxbook offers:

• Performance Analytics 

 Myfxbook breaks down your trading data into visual charts and statistics. You can see which pairs are profitable, which days are better for you, and how consistent your results are over time.

• AutoTrade Feature 

 This is Myfxbook’s copy trading platform, where you can follow top-performing systems and mirror their trades in your own account automatically.

• Economic Calendar 

 A reliable calendar of upcoming financial news and events, with expected impact levels, which helps traders prepare for market volatility.

• Community Insights 

 You can explore systems shared by other traders, compare strategies, or discuss market trends on their forums.

• Verification System 

 Myfxbook uses multiple layers of verification (trading privileges, investor password, etc.) to ensure the stats shown are real and not manipulated.

 3. How to Set Up Myfxbook (Step-by-Step)

Here’s how to get started:

• Create a Free Account 

 Head to myfxbook.com and sign up for an account.

• Connect Your Trading Platform 

 Choose your platform (MT4, MT5, or cTrader), and follow the instructions to link your account. This usually involves entering your account number and investor password—not your master password—so it’s secure.

• Verify Your Account 

 For full access and trust, go through the verification steps. It ensures your stats are credible if you ever plan to share or promote your trading.

• Explore Your Dashboard 

 Once connected, you’ll see your portfolio dashboard. You can analyze performance, export reports, or share links with clients or friends.

• Use AutoTrade if Desired 

 If you want to follow successful systems, browse through AutoTrade and pick one based on risk, return, and verified performance.

 4. Why Myfxbook Matters for Traders

Using Myfxbook is like holding up a mirror to your trading habits. Whether you're winning or losing, it tells the truth—and helps you make data-driven improvements.

Some benefits include:

• Objective Feedback 

 No more relying on "feelings" about your performance. Myfxbook shows actual numbers.

• Better Risk Management 

 Tools like drawdown tracking and position size calculators help reduce emotional decision-making.

• Track Progress Over Time 

 Compare months, strategies, or instruments and fine-tune what works best.

• Professional Presentation 

 If you plan to attract investors, manage accounts, or sell EAs/signals, a verified Myfxbook account builds trust.

 Final Thoughts

Whether you're a beginner trying to understand your habits, or a seasoned trader looking to present your stats professionally, Myfxbook is an invaluable tool. It's not just about showing off profits—it's about staying accountable and continuously improving.

And if you're someone who wants to optimize your trading systems further, using a smart automated solution can take your strategies to the next level. Tools like these—already being used successfully in gold, forex, and other markets—can be a powerful complement to platforms like Myfxbook. To discover what’s possible, take a look at our main trading hub or reach out for expert support to help align the right tools with your goals.