Myfxbook vs TradesViz

Myfxbook and TradesViz both attract forex traders with free access, but they are fundamentally different products. Myfxbook is a social portfolio tracker built around verified performance sharing — it was never designed as a journal. TradesViz is a genuine trade journal with AI-powered analytics that happens to offer a free tier. The question is not which one is cheaper, but which one actually helps you trade better.

Quick Comparison

Myfxbook Overview

Myfxbook is one of the oldest forex analytics platforms, launched in 2009 and now used by over 5 million registered accounts. It connects to MT4/MT5 via a publisher EA and automatically imports your trade history. The platform then displays statistics — win rate, profit factor, drawdown, average trade duration — alongside a public-facing profile you can share with others.

Key features:

• Automatic broker sync via MT4/MT5 EA (no manual exports needed)
• Public performance profiles with verified badge
• Community leaderboards and signal copying (AutoTrade)
• Session analysis showing performance by trading session
• Basic statistics: win rate, profit factor, average pips per trade
• Economic calendar integration

Pricing: Free for all features.

Pros:

• Zero cost, no hidden tiers
• One of the fastest broker connection setups available
• Strong community for social proof and verified track records
• Genuine forex-session data (Asian, London, New York breakdown)

Cons:

• Accounts are public by default — you must actively set privacy
• No journaling tools whatsoever (no notes, tags, setup labels)
• No AI or behavioral analysis — purely descriptive statistics
• Ad-supported model means your data has commercial value to the platform

TradesViz Overview

TradesViz launched in 2020 and has grown to over 100,000 users by offering a level of analytical depth that most paid competitors cannot match. The platform supports stocks, futures, crypto, and forex, with a free tier that covers core journaling and a paid plan (up to $19.99/mo) that unlocks AI pattern detection and advanced reporting.

Key features:

• AI-powered trade clustering and pattern recognition
• Setup tagging, notes, and emotion tracking per trade
• Advanced statistics: R-multiple distribution, expectancy, time-of-day performance
• Equity curve visualization with drawdown overlays
• Customizable dashboards and report templates
• CSV import plus direct integrations with select brokers

Pricing: Free tier with limited trades/month; paid plan at $19.99/mo or roughly $15.99/mo billed annually.

Pros:

• Exceptional analytical depth even on the free tier
• AI features surface patterns that manual review would miss
• Private by default — data stays yours
• Supports traders who trade multiple asset classes

Cons:

• Multi-asset focus means forex is not the exclusive priority
• Interface has a steep learning curve for new users
• Free tier limits trade history depth, pushing active traders toward paid
• No direct MT4/MT5 broker sync — CSV-based import adds a manual step

Feature-by-Feature Comparison

Journaling and Behavioral Tools

This is where the two products diverge most sharply. Myfxbook has no journaling capability. You cannot add a note to a trade, tag a setup as “breakout” or “reversal,” record your emotional state, or mark whether you followed your rules. The platform records what you did but provides no tools to analyze why or to build discipline over time.

TradesViz takes the opposite approach. Every trade can carry notes, custom tags, setup categories, and emotional state markers. The AI then aggregates these tags to find patterns — for example, identifying that 73% of your losses carry the “FOMO entry” tag, or that trades you marked “high conviction” have a 2.1R expectancy versus 0.4R for “uncertain” entries. This is the kind of feedback loop that changes behavior.

Analytics Depth

Myfxbook shows the basics: win rate, profit factor, maximum drawdown, average pips per trade, and session performance. These are useful for a quick portfolio summary but insufficient for strategic improvement. Myfxbook does not calculate R-multiples, does not show expectancy, and does not break performance down by setup type because there are no setup types to analyze.

TradesViz calculates expectancy automatically (average R-multiple per trade), plots R-multiple distributions, and shows performance sliced by any tag or setup type you define. If you want to know whether your Monday trades underperform your Wednesday trades, or whether your London session entries outperform New York entries, TradesViz answers both questions in seconds. Myfxbook answers only the second one.

Privacy and Data Ownership

Myfxbook’s model is built around public sharing. New accounts default to public visibility, which means your broker, equity curve, drawdown history, and trading patterns are visible to anyone unless you change the setting. Many traders miss this default. TradesViz stores data privately by default — sharing is an opt-in feature, not the platform’s core purpose.

Broker Connectivity

Myfxbook’s EA-based sync is genuinely convenient. Install the publisher EA in MT4 or MT5, authorize the connection, and trades appear in your dashboard within minutes — no manual exports, no CSVs. TradesViz relies on CSV imports and a smaller number of direct integrations, which means active traders export trade history from their broker on a regular schedule. Neither approach is technically complex, but Myfxbook’s sync removes more friction.

Pricing Breakdown

Myfxbook is free indefinitely. TradesViz’s free tier covers basic use, but traders running more than a few hundred trades per month and wanting AI analysis will need the paid plan. At $19.99/mo, TradesViz paid costs $239.88/year — more than some dedicated journaling tools that offer lifetime pricing.

Who Should Choose Myfxbook vs TradesViz

Choose Myfxbook if:

• You want to share a verified performance track record with a prop firm community, social following, or accountability partner
• You trade exclusively on MT4 or MT5 and want zero-friction broker sync
• You only need descriptive statistics and have no interest in behavioral journaling
• You want a completely free platform with no upgrade pressure

Choose TradesViz if:

• You want to understand why your trading produces the results it does, not just what the results are
• You trade multiple asset classes and want one platform for all of them
• You value AI-driven pattern detection across hundreds of trades
• You are comfortable with CSV-based import and a more complex interface

Our Verdict

TradesViz is the better trading tool for anyone serious about improvement. Its AI analysis, behavioral journaling, and statistical depth give traders actionable feedback that Myfxbook simply cannot provide. Myfxbook remains genuinely useful in one specific scenario: public performance verification. If you need to prove your track record to someone outside your account, Myfxbook’s verified badge and shareable profile are hard to replicate.

That said, neither platform was designed exclusively for forex traders. If forex journaling is the primary goal — with session-aware metrics, pip-based P&L tracking, and an AI that understands currency-specific behavior — PipJournal and PipJournal vs TradesViz are worth reviewing before committing to either of these tools.

Frequently Asked Questions

Is Myfxbook actually a trading journal?

Myfxbook is primarily a portfolio tracker and social platform. It records your trades automatically via broker sync but offers no journaling tools — no notes, no setup tagging, no emotion tracking, no behavioral analysis. It tells you what happened, not why, and not how to improve.

Is TradesViz free?

TradesViz has a free tier with core journaling and basic statistics. The paid plan (up to $19.99/mo) unlocks advanced AI analysis, trade pattern clustering, and deeper behavioral reports. Most active traders will eventually need the paid tier to get full value.

Can Myfxbook connect directly to my broker?

Yes. Myfxbook connects to MT4 and MT5 accounts via a publisher EA that runs in your terminal, syncing trades automatically. This is one of its genuine strengths — setup takes under 10 minutes and requires no manual CSV exports.

Which is better for prop firm traders?

Neither is purpose-built for prop traders, but TradesViz is the more useful tool for actual challenge preparation — it can surface patterns like overtrading on Fridays or poor performance during news events. Myfxbook is occasionally used to share verified track records with prop firm communities. For a deeper look at prop firm journaling tools, see the Edgewonk vs TradesViz comparison.

Does TradesViz support instruments beyond forex?

Yes. TradesViz supports stocks, futures, options, and crypto in addition to forex. This broad asset coverage means it is not as forex-optimized as Myfxbook, but it works well for traders who operate across multiple markets.

What does Myfxbook cost?

Myfxbook is entirely free. It is ad-supported, and the advertising model means your trading data has commercial value to the platform. There are no paid tiers — all features are available to all users at no charge.

If I want the best forex trading journal, should I use either of these?

Both tools have meaningful gaps for serious journaling. Myfxbook is not a journal at all. TradesViz is strong on analytics but was built for multi-asset traders. If forex journaling is the priority, a purpose-built tool like PipJournal offers forex-specific metrics and an AI behavioral co-pilot that neither platform provides at a $179 one-time price.