What Is Myfxbook? How to Connect Your Forex Account and Track Trading Performance Automatically

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Investment and Financial Freedom › What Is Myfxbook? How to Connect Your Forex Account and Track Trading Performance Automatically

Myfxbook is an online platform that helps Forex traders automatically analyze and track their trading performance. It provides detailed statistics such as profit rate, drawdown, risk-to-reward ratio, win/loss ratio, and other key investment metrics.

Functions of Myfxbook

• Track Trading Performance – Displays detailed trading statistics.
• Analyze Data – Includes tools for trend and strategy analysis.
• Copy Trading (AutoTrade) – Allows users to copy successful traders automatically.
• Share & Compare – Share your portfolio publicly or compare it with other traders.
• Verify Credibility – Check the performance of signal providers before investing.

How to Connect a Trading Account to Myfxbook

1. Sign Up – Go to Myfxbook and create a free account.

2. Add a Trading Account

• Log in and go to Portfolio > Add Account.

3. Set Up the Connection

• Platform: Choose MetaTrader 4 or 5 (Auto update – free version available).
• Account Name: Set any portfolio name that represents your trading account.
• Broker: Select your broker.
• Server: Choose your broker’s server.
• Account Number: Enter your trading account number.
• Investor Password: Enter your read-only password for viewing only.

4. Confirm and Wait for Connection

• The system will take a few moments to fetch your data and display it on Myfxbook.

5. Verify Data

• Once connected, you can view real-time trading statistics instantly.

What Is an Investor Password?

The Investor Password is a read-only password used to view account information on MetaTrader 4 (MT4) or MetaTrader 5 (MT5). It allows monitoring of trading activity without being able to trade or change settings.

Investor Password Features

• Secure Account Viewing – Allows you to view trade history, profits/losses, and statistics safely without trading access.
• Share Account Information – Ideal for sharing your results with investors or other people.
• Platform Integration – Can be connected to analytics platforms like Myfxbook for automatic performance tracking.

How to Find the Investor Password in MetaTrader

1. Open MetaTrader 4 or 5.
2. Go to Tools > Options (shortcut: Ctrl + O).
3. Select the Server tab.
4. You’ll see Login (account number), Server, and Password (trader password).
5. To change the Investor Password, click Change.
6. Select Change investor (read-only) password.
7. Enter your main password and set a new Investor Password.

What Can the Investor Password Be Used For?

• Share your trading account safely without giving out your main password.
• Connect your trading account to Myfxbook or other analytics platforms.
• Allow a trading coach to review your strategies or performance.

The Investor Password is safe since it cannot be used for trading. However, if you need someone to manage your portfolio, you should use your Master Password or grant access through your broker instead.

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