Myfxbook.com Review 2025: Trusted Trading Analytics or Risky Copy Trading?

[Evgeny Lebedev]

Regulatory Status and Licensing

Myfxbook.com is not a broker in the traditional sense—it functions as a third-party analytical platform designed for automated trading analytics, portfolio tracking, and social trading. However, the company has evolved in recent years to include broker-affiliated services, such as AutoTrade (a copy trading network) and broker partnership integrations.

As Myfxbook does not execute trades or hold client funds directly, it is not regulated as a financial broker. Instead, it acts as an intermediary that connects user trading accounts (primarily from MetaTrader 4, MetaTrader 5, and cTrader platforms) to its analytics engine.

This operational model removes the requirement for regulatory licensing but introduces data privacy and transparency concerns, especially since users link their real brokerage accounts to Myfxbook's servers. The lack of formal regulatory oversight means users should be cautious with data sharing and ensure secure API integrations.

Trading Conditions and Specifications

While Myfxbook.com does not offer direct trading or account execution, its key product—AutoTrade—enables users to mirror the strategies of other traders. To access AutoTrade, users must open an account with one of Myfxbook's partner brokers.

Trading conditions, therefore, depend entirely on the selected partner broker. Some brokers listed on Myfxbook's AutoTrade page are regulated (e.g., IC Markets, Pepperstone), while others may not be. This introduces a variable risk factor depending on which broker the user chooses to execute mirrored trades. Key concerns include:

• Lack of transparent risk disclosures on AutoTrade signal providers
• No enforced vetting system for strategy quality or drawdown history
• Limited control over execution parameters and slippage from partner brokers

This setup can potentially mislead less experienced users into assuming platform-endorsed strategies are safe or consistently profitable.

Technological Infrastructure and Platform Features

Myfxbook.com is best known for its advanced portfolio analytics tools, which include:

• Automated trading statistics and equity curve tracking
• Real-time trade analysis, drawdown, Sharpe ratio, and trade history visibility
• Customizable widgets and social sharing options
• Broker spread monitoring tool
• Economic calendar and market sentiment tools

The user interface is web-based, highly customizable, and integrates smoothly with popular trading platforms via investor password or read-only API. However, there are no desktop or mobile apps, which may limit accessibility for on-the-go users.

In terms of platform security, the lack of two-factor authentication and limited control over connected brokerage data raise moderate cybersecurity concerns.

Financial Operations: Deposits and Withdrawals

Since Myfxbook.com does not handle client funds, it is not directly responsible for deposits or withdrawals. However, through its AutoTrade system, the platform acts as a referrer to partnered brokers, who may offer Myfxbook-exclusive accounts or bonuses.

All funding and withdrawal operations are performed via the associated broker. This creates fragmented user accountability, as disputes over trade execution or fund access must be directed to the external broker rather than Myfxbook itself.

Some users have reported difficulty resolving issues due to the platform acting as an intermediary with no direct oversight over actual fund management.

Reputation Analysis and Community Support

Myfxbook.com has been active since 2009 and enjoys a strong reputation among forex traders for its analytics and transparency tools. It is one of the few platforms that allows for public portfolio verification, which is valuable for distinguishing real trading performance from manipulated records.

That said, some AutoTrade users report performance discrepancies between advertised and actual strategy results. Other concerns include:

• Delayed support responses
• Inconsistent moderation of strategy providers
• Dependence on broker integration for full functionality

The forum and community sections of Myfxbook are active but occasionally plagued by spam and low-quality promotional content, which could affect user trust.

Conclusion: Analytical Tool with Broker-Affiliated Risks

Myfxbook.com is an advanced and reputable trading analytics platform, offering substantial value for traders who seek portfolio insights, public verification, and strategic tracking. However, its AutoTrade feature introduces third-party brokerage risk, especially when used with unregulated partners or poorly vetted strategies.

Recommendation: Use Myfxbook as an analytics and verification tool only. Exercise caution with its AutoTrade system, ensuring all partner brokers are regulated and strategy risks are clearly understood.