Myfxbook review: can free verified statistics prove a strategy is real?
Myfxbook links to a broker account with a read-only password and publishes the history it finds. We tested what the Verified badges prove, what they miss, and whether the free tools justify a login.
7.7/10
Myfxbook is the closest thing forex has to an independent audit trail, and it costs nothing. Linking an account gives you an equity curve, drawdown, and a trade log that matches the broker's own records. It does not prove skill: a verified demo, a lucky month or a padded deposit can all look good. Treat a Verified badge as the start of due diligence, and skip AutoTrade unless you accept the provider's drawdown as your own.
Best for
Traders who want a free journal, or need to check a signal seller's claims
Free tracking of any linked MetaTrader account, with equity, drawdown and full trade history
Track Record and Trading Privileges badges separate real accounts from pasted screenshots
Public systems directory lets you filter sellers by gain, drawdown and age
Economic calendar, sentiment outlook and calculators sit on the same login
AutoTrade providers must show 3 months of history and a drawdown under 50%
What does not
Verification proves the data matches the broker, not that the account is a live one
Gain percentages swing with deposits and withdrawals unless you read the transaction log
The interface looks dated and the site is heavy with banner adverts
AutoTrade has only around 160 providers and works best with partner brokers
Specs
Price
Free; ad-supported
What it tracks
MetaTrader accounts via investor (read-only) password
Verification badges
Track Record and Trading Privileges
Gain method
Time-weighted return, plus a separate Absolute Gain
AutoTrade entry rules
3 months verified history, drawdown under 50%, return-to-drawdown above 1.1
AutoTrade exclusions
Martingale styles and trades held under 5 minutes
AutoTrade trial
30-day demo, virtual balance from $1,000 to $1,000,000
Extras
Economic calendar, community outlook, systems directory
Every signal seller has a screenshot of a green month. Myfxbook exists because a screenshot proves nothing, and that alone makes it worth understanding. We linked our own accounts, browsed hundreds of public ones, and checked how much the badges can actually carry.
What the site does when you link an account
You give Myfxbook the account number, broker server and the investor password, which lets it read history but never place a trade. Several times a day it pulls the broker's own record and compares it with what you have shown. If nothing differs, the account earns a Track Record Verified badge. A second badge, Trading Privileges Verified, appears once you prove you also hold the master password, by placing a pending order with a key the site provides or by swapping in a password it supplies (Myfxbook help).
Read that again. Both badges say the numbers came from a broker server and belong to someone who controls the account. Neither says the money was real, or that the trader will repeat the result.
Reading a system page without being fooled
The public directory lists every shared account with gain, drawdown and age. This is where the tool earns its keep.
myfxbook.com
The Forex systems list, where each row is a linked account with its own verified statistics.
Our checklist, in the order we apply it:
Both badges present, and the account type reads live, not demo. Myfxbook says it detects demos, yet critics note it can miss one, so click through to the broker name.
Gain against Absolute Gain. Gain uses a time-weighted return that ignores deposit timing, per Myfxbook's own definition, while Absolute Gain counts net deposits minus withdrawals. A big withdrawal late in the run can flatter the first figure. Open the transaction log.
Drawdown next to the return. A 200% gain with a 70% drawdown is a coin flip that landed well.
Age. Three months of history means little in forex, where a grid or martingale system can look flawless until the day it does not.
That last point matters more than any badge. Nothing on the page tells you the strategy sizes up after losses; you have to spot it in the trade list.
What a good profile looks like, and a bad one
We sorted through the systems list looking for patterns. The healthy accounts were dull: modest monthly gains, drawdown that rose and fell in proportion to the return, and a trade list with varied lot sizes and holding times. The suspicious ones had a near-vertical equity line, a tiny number of losing trades and lot sizes that doubled after every loss, which is the classic martingale signature. A verified badge sat on both kinds.
One habit helps more than any filter. Ask the seller for the same account number and check the broker's name and server on the profile against what they told you. A live account at a regulated broker is harder to fake than a demo with a friendly server name.
The free extras, and one we would keep open
The account is free and the site pays for itself with advertising. A large wallpaper banner covered most of the viewport when we captured these pages, so an ad blocker is a practical necessity.
Beyond statistics you get an economic calendar and a community sentiment outlook. The outlook shows what share of Myfxbook members are long or short a pair, which is a crowd reading rather than a signal.
myfxbook.com
The community outlook page, which explains forex sentiment from member positions.
The calendar is the more useful of the two: a plain list of scheduled releases, including business confidence and credit data for the day we looked.
myfxbook.com
The economic calendar, listing the day's releases, including a Canadian national holiday.
AutoTrade: the paid-for-by-risk part
AutoTrade copies a provider into your own broker account. Entry rules are stricter than the open directory: providers need at least three months of verified history, drawdown under 50% and a return-to-drawdown ratio above 1.1, and martingale styles and trades held under five minutes are barred (TradingBrokers). The catalogue is small, around 160 providers, and the search tools are basic. A 30-day demo lets you test with a virtual balance before committing money.
The filters are sensible. They also mean a 49% drawdown is acceptable to the platform, and it may not be acceptable to you.
Who should use it
Use Myfxbook if you trade and want a free, broker-independent journal, or if you are about to pay a stranger for signals and want their claims checked first. Skip the community forums for advice. Do not treat a Verified badge as a recommendation, and do not size a position on the strength of somebody else's chart.
A closing reminder from the desk: leveraged products can lose you more than a bad week, and nothing here is advice for your own situation. A profile's past return promises nothing about next month.
