Keep Myfxbook when the job is connected-account analytics, a shareable verified system page, Community Outlook, or its new manual Backtest. Add or switch to a dedicated journal when you need a repeatable plan-versus-execution review, richer notes, mistake and lesson fields, or analysis across sources Myfxbook does not connect. Myfxbook now has Prop Shield, Strategy AI, trade tags, and support beyond MT4/MT5, so those are no longer honest reasons to leave.
The previous version described Myfxbook as a completely free, MT4/MT5-only tracker with no journaling, AI, prop-firm rules, or setup analysis. Current official documentation contradicts most of that framing. This update preserves the page's title and search intent while replacing those claims with dated, source-linked distinctions.
| Your primary job | Best starting point | Why |
|---|---|---|
| Publish a broker-matched track record | Stay with Myfxbook | Its Track Record and Trading Privileges badges have a defined verification process and a public system page. |
| Analyze connected account performance | Stay with Myfxbook | Advanced statistics, custom analysis, account portfolios, and broad forex-market tools are core strengths. |
| Run a structured private post-trade review | Add a dedicated journal | Choose the workflow whose fields match your process: plan adherence, execution grade, mistake, lesson, evidence, and setup. |
| Monitor a prop challenge | Compare exact implementations | Myfxbook Prop Shield is configurable and can use paid Live Update; TSB reviews exact cataloged rules and can replay your history. |
| Use public proof and private coaching | Run both | One account can remain the public evidence layer while an export or supported connection feeds a separate review workflow. |
What Myfxbook Actually Does Well
Myfxbook is strongest when a trader wants account-level performance analytics tied to a broker or platform connection. Its value is not limited to a basic win-rate chart: current help pages document advanced statistics, verified public systems, configurable prop-rule monitoring, manual market replay, and a large market-data ecosystem.
Verified trading records and public sharing
Myfxbook separates verification into two badges. Track Record means the history shown on Myfxbook matches the history supplied by the broker on the trading platform. Trading Privileges means the person adding the account can perform master-password-mediated actions and therefore has control or the ability to trade it. Full verification is required before a system can be made public, shared by link, or expose Trade Analytics.
That is useful evidence, but it is not an independent audit of strategy quality, ownership of every deposited dollar, future returns, or withdrawal reliability. Myfxbook's own terms disclaim guarantees about the accuracy, timeliness, completeness, and suitability of site information. Read a verification badge according to its stated scope, not as a universal seal of safety or profitability.
Analytics and market tools
The account page includes trade summaries, averages, profit factor, z-score, and other advanced statistics. Custom analysis can isolate a date range, and official product history documents trade tags, comments, magic-number analysis, and attachments. Myfxbook also offers calendars, spread data, correlations, market heat maps, and Community Outlook sentiment. Calling all of that “basic analytics” understates the product.
Community Outlook is a distinct reason to stay if you use positioning as context. The current GBP/USD page says its data comes from verified real accounts, but the same page contains conflicting freshness labels—one says 60 seconds and another says a 60-minute delay unless the paid indicator is used. Check the timestamp and product label visible when you make the decision; do not treat a sentiment percentage as a live order signal.
More than MT4 and MT5
Myfxbook's current connection guide lists MetaTrader 4, MetaTrader 5, cTrader, TradeLocker, MatchTrade, Oanda, and DxTrade. Connection methods differ by platform, broker, and account. If your platform is not listed, Myfxbook directs users to its suggestion box rather than promising a generic file import for every source.
Free manual Backtest
Myfxbook Backtest is now a free signed-in manual market-replay tool with more than 20 years of historical data, one-minute source resolution, hundreds of symbols, synchronized charts, simulated orders, analytics, saved tests, and shareable results. It is not tick-by-tick. Myfxbook explicitly warns that broker feeds, time zones, costs, slippage, partial fills, liquidity, and intraminute order sequence can make live results differ.
Is Myfxbook Free?
Registration and substantial Myfxbook functionality are free, but “everything is free with no paid features” is no longer accurate. The cost depends on the connection speed and optional product you choose, so compare the exact workflow rather than attaching one price to the whole platform.
| Myfxbook function | Current documented boundary | Decision impact |
|---|---|---|
| MT4 Auto Update | Free; server-side updates every 2–4 hours depending on load | Good when delayed account analytics are enough. |
| MT4 EA Publisher | Free; roughly five-minute publishing while the Windows terminal is running | Faster, but requires local software, credentials, and an open terminal. |
| Live Update | Paid annual subscription for one account at a time; the current verified amount is rendered from the canonical provider catalog on this page. Transfer is limited to once per 24 hours. | Needed for the documented real-time server workflow; concurrent accounts require separate subscriptions. |
| Manual Backtest | Free for a registered, signed-in account | A real alternative to paying solely for manual market replay. |
| Strategy AI | Separate monthly, credit-based plans | Budget by generation, coding, and server-backtest usage; do not confuse it with core account analytics. |
| Live sentiment indicator | Separate paid product is advertised from delayed Community Outlook | Check the visible delay and subscription terms before relying on freshness. |
The update intervals above come from Myfxbook's MT4 connection documentation and should not be copied to every supported platform. Before connecting, open the help page for your exact platform and broker.
What's Missing—and What the Old Comparison Got Wrong
The meaningful gap is not that Myfxbook “has no journal, AI, or prop tracking.” The real question is whether its implementation supports the review loop you intend to run. Several former objections are now false; others need narrower wording because public documentation does not establish the exact workflow.
| Old claim | What current evidence shows | Accurate decision test |
|---|---|---|
| “No trade journaling or emotional tags” | False as a blanket claim. Myfxbook's official product history documents per-trade tags, comments, attachments, and tags based on emotion, comfort, or system. | Verify the current account UI, then compare its fields and review cadence with the journal you would actually use. |
| “No setup-based analytics” | Too broad. Tags, magic numbers, comments, symbol, direction, time, and custom analysis have been documented. | Test whether the grouping is consistent enough for your own setup taxonomy and sample size. |
| “No AI” | False. Strategy AI generates MT5 Expert Advisors, code versions, and server backtests through credits. | Choose between strategy generation and retrospective coaching from your own journal; they are different jobs. |
| “No prop-firm rule tracking” | False. Prop Shield tracks configurable daily loss, max loss, targets, trading days, consistency, and warning thresholds. | Check exact rule math, update latency, account stage, and whether a manual configuration or reviewed catalog supplies the rule. |
| “MT4/MT5 forex only” | False. Seven platforms are listed in the June 2026 connection guide. | Confirm your precise broker/platform connection and instrument history rather than extrapolating from the platform name. |
| “No way to leave the ecosystem” | False as written. Myfxbook documents exporting full trading history from the account page. | Inspect the generated file and test compatibility; the official export page does not promise every target journal's schema. |
What remains unverified from the current official help set is a first-class, required plan → execution → grade → mistake → lesson → next rule workflow on each trade. That is not proof that no such screen exists. It is a reason to open your own account, perform one complete review, and compare the resulting record with a dedicated journal before moving data.
Myfxbook Trading Journal vs a Dedicated Journal
Myfxbook can function as a trade log and tagged analysis layer, while a dedicated journal is usually designed around deliberate review. The difference is workflow, not whether one product can store a text value. A useful trial asks whether the tool turns each closed trade into consistent evidence and a next action.
A seven-trade trial is better than a feature checklist
- Choose seven already-closed trades that include at least one loss, one rule break, and one normal trade.
- For each tool, record the setup, decision, execution evidence, outcome, mistake, and lesson without inventing substitute fields.
- Filter the seven trades by setup and by the behavior you want to change.
- Write one rule for the next session and note which screen provided the supporting evidence.
- Count minutes spent cleaning data and completing the review. Do not count time spent admiring dashboards.
If Myfxbook produces the decision cleanly, switching adds cost and migration risk. If it produces only an account summary while your review lives in scattered notes, a dedicated journal supplies a different job rather than a duplicate chart.
Side-by-Side: Myfxbook vs TSB
Myfxbook and Trader's Second Brain overlap in account analysis but are not exact substitutes. Myfxbook leads on public verified records and its forex community ecosystem. TSB is the publisher's own product and is built around private, structured review, supported multi-source ingestion, behavioral analysis, and prop-rule replay. That commercial relationship is disclosed here rather than hidden inside the verdict.
| Decision field | Myfxbook | TSB Full Access |
|---|---|---|
| Best primary job | Connected account analytics and shareable verification | Private journal, review, and evidence-to-rule workflow |
| Current platform/input scope | Connections listed for MT4, MT5, cTrader, TradeLocker, MatchTrade, Oanda, and DxTrade | Web |
| Public verified system page | Yes, after full Track Record and Trading Privileges verification | Not offered as a Myfxbook-equivalent verification product |
| Per-trade context | Tags, comments, attachments, and custom analysis documented; verify current UI | Setup, notes/evidence, plan adherence, grade, mistake, lesson, screenshots, and optional voice debrief |
| AI | Strategy AI creates and backtests MT5 EAs using credits | AI Coach explains patterns and evidence in the user's journal history |
| Manual backtest | Free market replay using one-minute historical data | Included |
| Prop workflow | Configurable Prop Shield; near-real-time rule status with Live Update | Exact reviewed catalog rules, challenge history, custom overrides, and historical replay |
| Export | Full trading-history export from the account page | Authenticated full-journal CSV or JSON export |
| Price boundary | Large free layer; paid Live Update, Strategy AI, and live sentiment products. The exact reviewed Live Update amount is rendered from the provider catalog. | $299 lifetime or $49/month |
The server-rendered provider component on this page binds the comparison to exact Myfxbook and TSB offerings, their current scope, sources, prices, and verified dates. A prop-firm firm_slug/program_id card remains intentionally not applicable because no exact challenge determines this software-workflow verdict.
Prop-Firm Rule Tracking Is No Longer a Reason by Itself to Leave
Myfxbook's April 2026 Prop Shield guide documents configurable profit target, daily loss, static or trailing max loss, minimum trading days, consistency, and warning/critical thresholds. With Live Update it can follow equity, floating P&L, and intraday limits in near real time. The old claim that Myfxbook has “no concept” of these rules is obsolete.
The remaining decision is about source and calculation integrity. A manual rules form is flexible but can reproduce a user's mistake. A reviewed catalog can reduce setup work but may lag a checkout change. In either system, match the exact provider, program, region, account size, phase, balance-versus-equity basis, reset time, trailing method, and restricted activity. Save the terms that applied when you bought the account.
Use the prop-firm rules cheatsheet to build the checklist, then validate it against the provider's own current terms. A monitor is a guardrail, not the contractual source of truth.
Myfxbook Has AI, but “AI” Does Not Name One Job
Myfxbook Strategy AI is an automated-strategy product. Its credit system covers generating strategies, creating code, running deeper analysis, and server backtests; the product outputs MetaTrader 5 Expert Advisors. That is materially different from asking why a trader's manually reviewed losses cluster after a plan break.
A journal coach should be judged on traceability to your own trades: which rows support the answer, what sample was used, whether fees and time zones are correct, and whether the conclusion changes after outliers are removed. A strategy generator should be judged on rule clarity, data resolution, costs, out-of-sample testing, and whether generated code behaves as described. Buying one because it has an AI label will not satisfy the other job.
Other Myfxbook Alternatives, Chosen by Job
There is no useful universal ranking because these options solve different problems. Start with the artifact you need at the end of the week, then choose the lightest workflow that can produce it reliably.
| Route | Choose it when | Main trade-off to test |
|---|---|---|
| Stay with Myfxbook | Verified sharing, connected account stats, sentiment, and free manual replay are the core jobs. | Confirm update method, paid add-ons, privacy, and whether tags support your review. |
| Myfxbook + TSB | You want Myfxbook as the public evidence layer and a private structured journal beside it. | Test export/import compatibility and reconciliation before assuming a seamless pipeline. |
| TSB Full Access | Public verification is unnecessary and your priority is review fields, supported multi-source history, AI Coach, or prop replay. | Verify the exact source connection and free/full access limit you need. |
| Spreadsheet or Notion | Your process is small, manual, custom, and you are willing to maintain formulas and data hygiene. | Measure entry time, broken formulas, backups, and the effort required to answer recurring questions. |
| Another dedicated journal | A broker integration, replay workflow, or review UI not covered above is essential. | Use a trial with your own export; verify current pricing and features on the vendor's official site. |
For narrower evaluations, see our current pages on an Edgewonk alternative, Tradervue alternative, TradeZella alternative, and Excel versus a trading journal app. Treat any price in a comparison as a dated snapshot and recheck the vendor before purchasing.
How to Switch From Myfxbook Without Losing the Audit Trail
A safe migration is a reconciliation exercise, not a five-minute promise. Myfxbook documents full-history export, but its help page does not guarantee a particular target schema or universal compatibility. Keep the source account intact until the destination reproduces the history you rely on.
- Export from the account page. Save the original file without editing it and record the export date, account, platform, and visible Myfxbook totals.
- Inspect before importing. Confirm the file type, delimiter, time zone, currency, open-versus-closed position treatment, deposits/withdrawals, fees, swaps, partial fills, and duplicate identifiers.
- Use a preview or copy. Upload only to a non-production preview or a new empty account in the destination. If the format is unrecognized, stop and request a supported parser rather than forcing columns into approximate fields.
- Reconcile counts and money. Compare closed-trade count, date range, net P&L, commission, swap, symbols, and account balance. Investigate every difference large enough to change a conclusion.
- Add review context prospectively. Historical broker data cannot reconstruct the plan, emotion, screenshot, or lesson you never recorded. Mark those fields Not verified instead of backfilling memories as facts.
- Run both through one review cycle. Keep Myfxbook connected while the new journal proves that updates, filters, and weekly outputs remain correct.
- Archive evidence. Retain the original export, reconciliation note, and the Myfxbook connection until you have a tested rollback path.
TSB supports multiple file families and provides import preview/guardrails, but this review did not find a dedicated Myfxbook parser contract in the local product code. Test the actual export first. Do not infer “supported” merely because the file extension is CSV.
Connection Security and Privacy Checklist
For MT4/MT5 Track Record verification, Myfxbook documents using an investor password, which is read-only. Trading Privileges verification is different: it requires actions performed with master-password control, such as changing the investor password or placing a distant pending order carrying an authorization value. Myfxbook says the pending order should be far from market and removed after verification.
- Use the exact connection method documented for your platform; do not reuse a broker master password on unrelated services.
- Enable Myfxbook's authenticator-app two-factor authentication.
- Keep the account private until every public permission is reviewed; public systems expose only the statistics you select, but the page and discussion become shareable.
- Read the current privacy policy before connecting. It covers information supplied through a trading-account connection as well as device, usage, and contact data.
- Revoke obsolete connections, rotate credentials where appropriate, and keep an export before closing an analytics account.
“Read-only” limits order execution; it does not mean the trading history is non-sensitive. Treat account numbers, broker identity, positions, balances, and strategy metadata as confidential data.
Our Approach and Evidence Date
This comparison was fact-checked on September 7, 2026 against Myfxbook's official help center, current product pages, privacy policy, and terms, plus TSB's local public product contract and shipped journal interface. TSB is our product. That conflict is why the verdict preserves Myfxbook's unique strengths, labels unverified gaps, and does not use invented user counts, performance lifts, or competitor prices.
The official sources establish features and stated processes, not a controlled comparison of user outcomes. No claim is made that one tool improves profitability, prevents a prop breach, or makes a generated strategy safe. Product UI, connection methods, prices, and limits can change; recheck the exact page before connecting data or paying.
Test the review job before you replace the proof layer
Keep Myfxbook connected, bring a small verified sample into a private review workflow, and compare the decision you can make after seven trades. TSB Free lets you test Journal, Dashboard, and Leak Map Starter on up to 30 new trades per month.
Try TSB FreeTSB is our product. No broker connection, journal, AI output, or rule monitor guarantees trading performance.
