- You want AI coaching that finds behavioral leaks automatically
- You need structured journaling — notes, emotions, screenshots
- You trade more than forex (stocks, futures, crypto, options)
- You use Notion and want your journal embedded in your workflow
- You run prop firm challenges and need rule monitoring
- You just want to see your MT4/MT5 P&L without paying anything
- You need a verified portfolio link for a prop firm or investor
- You're not ready to invest in trading tools yet
Myfxbook Is Not a Trading Journal
This is the most important thing to understand before comparing. Myfxbook is a free portfolio tracker with social features. It connects to your MT4/MT5/cTrader account via read-only access, pulls your trades automatically, and shows account-level stats: balance, equity, drawdown, win rate.
What it does not do: structured trade notes, emotional tagging, screenshot attachments, setup classification, AI coaching, behavioral analysis, pattern detection, prop firm rule tracking, backtesting, or multi-market journaling beyond MT4/MT5 assets.
Comparing Myfxbook to a trading journal is like comparing a step counter to a personal trainer. The step counter tells you how far you walked. The trainer tells you why your form is off and how to fix it. Both useful — but only one actually improves your performance.
What Each Tool Actually Does
| Capability | TSB App ($149 once) | Myfxbook (Free) |
|---|---|---|
| Price | $149 one-time | $0 (ad-supported) |
| What it is | Trading journal + AI coaching system | Portfolio tracker + social network |
| AI coaching | LLM-based: revenge trading, tilt, overtrading detection + weekly reports | None |
| Structured journaling | Trade notes, emotions, screenshots, setups | None — no manual entry at all |
| Markets | Forex, stocks, futures, crypto, options | MT4/MT5/cTrader only (forex + broker CFDs) |
| Notion integration | 23+ embeddable widgets | None |
| Prop firm tracking | Built-in rule monitor + drawdown alerts | Prop firm directory (no tracking) |
| Backtester | Included | None |
| Analytics depth | AI-driven behavioral + performance analytics | Account-level stats (balance, drawdown, win rate) |
| Public portfolio verification | None | Yes (industry standard for forex) |
| Social / copy trading | None | AutoTrade + follower system |
| Broker spread comparison | None | Yes |
| Mobile app | No (responsive web) | Android + iOS (monitoring only) |
| Privacy | Private by default | Private by default, but history not deletable |
Notice the pattern: Myfxbook's strengths — portfolio verification, social trading, broker comparison — are social and public-facing. TSB's strengths — AI coaching, journaling, behavioral analysis, prop firm tracking — are about private improvement. They solve different problems.
Why Tracking Performance ≠ Improving Performance
This is where most Myfxbook users get stuck. Myfxbook shows your win rate is 45%, your drawdown hit 8%, and you lost money on Tuesday. Useful data — but completely useless for improvement unless you know why.
What Myfxbook Can't Tell You
- That you revenge traded 3 times after your first loss on Tuesday
- That your win rate drops to 28% when you take more than 5 trades/day
- That your losses cluster during the Asian session — outside your edge
- That your average loss is 2.3× bigger than your plan allows (you're moving stops)
- That your tilt pattern starts after 2 consecutive losses, not 3
What TSB's AI Coach Does With the Same Data
TSB's LLM-based AI scans your complete trade history and surfaces these patterns automatically. It doesn't wait for you to ask the right questions — it finds the answers you didn't know to look for. Weekly coaching reports tell you exactly what to focus on. Psychology grading shows whether you're improving or repeating mistakes.
The Myfxbook trap: Many forex traders use Myfxbook for years and wonder why they're not improving. The answer is simple: a dashboard that shows your stats is not a tool that fixes your behavior. Tracking steps doesn't make you a better runner. Tracking P&L doesn't make you a better trader. You need analysis of decisions, not just outcomes.
Use our position size calculator and drawdown calculator alongside your journal to make data-driven risk decisions — something Myfxbook's stats alone can't drive.
Who Needs What (Honest Assessment)
Myfxbook is enough if...
- You only trade forex on MT4/MT5
- You just want to see your P&L stats without paying anything
- You need a public verified portfolio link
- You're not actively trying to fix behavioral patterns
But be honest: if you've been using Myfxbook for 6+ months and your results haven't improved, the tool isn't the problem — the type of tool is.
You've outgrown Myfxbook if...
- You know your stats but keep making the same mistakes
- You want to understand why you lose, not just how much
- You trade stocks, futures, crypto, or options (not just forex)
- You're in a prop firm challenge and need rule tracking
- You want AI to find patterns you can't see yourself
- You use Notion and want your journal embedded in your workflow
TSB costs $149 once. That's less than 5 months of most subscription journals — and infinitely more useful than free stats you've been staring at without improving.
You Can Use Both (For Different Purposes)
If you need a public portfolio link AND private improvement tools, use both:
- Myfxbook → verified portfolio for investors or prop firms, broker comparison
- TSB → private journaling, AI coaching, behavioral analysis, prop firm tracking
Combined cost: $0 + $149 = $149 total. One is your public resume, the other is your private training system.
Common Complaints
| Complaint | Severity | Who It Affects | Workaround |
|---|---|---|---|
| Myfxbook: Shows stats but can't explain why you lose | High | Traders trying to improve | Add a journal with AI coaching (TSB) |
| Myfxbook: MT4/MT5/cTrader only | High | Stock, futures, options, crypto traders | Use a multi-market journal |
| Myfxbook: No manual trade entry or notes | High | Anyone who wants to journal decisions | Use a dedicated trading journal |
| Myfxbook: Trade history not deletable once imported | Medium | Privacy-conscious traders | Use custom start date to hide old data |
| TSB: Not free | Low | Zero-budget traders | Free tier available; $149 one-time is cheaper than subscriptions long-term |
| TSB: Newer platform (since 2024) | Low | Risk-averse traders | Try free tier first; 7-day refund window |
How We Made This Comparison
- TSB pricing — $149 (TSB App), $199 (TSB Complete). Features verified through hands-on testing.
- Myfxbook features — verified on myfxbook.com/features. Free, ad-supported, no feature tiers.
- Connection methods — MT4/MT5/cTrader via investor password or EA publisher. Per myfxbook.com/faq.
- Privacy — accounts private by default; trade history not deletable, only hideable via custom start date.
Read our editorial methodology for how we compare trading tools.
Bottom Line
Myfxbook is a fine starting point — it's free and it works. But if you've been using it and your trading hasn't improved, that's not a coincidence. A tracker shows you the scoreboard. A journal with AI coaching shows you the game tape and tells you what to fix.
TSB costs $149 once. AI coaching, structured journaling, Notion integration, prop firm tracking, backtester, multi-market support — all included. No subscription, no ads, no public-by-default privacy concerns.
For journal comparisons, see our best trading journal comparison. For specific alternatives: TSB vs TraderSync, TSB vs Tradervue, TSB vs Edgewonk.
