Trademetria vs Myfxbook

Trademetria and Myfxbook solve different problems for traders, which makes comparing them tricky. Trademetria is a paid, multi-asset trade journal built around structured post-trade analysis. Myfxbook is a free forex analytics platform that auto-syncs with MT4/MT5 and layers on social trading features. Traders exploring both are usually asking one question: do I need to pay for journaling, or is free analytics good enough?

Quick Comparison

Trademetria Overview

Trademetria is a web-based trade journal and analytics platform supporting forex, stocks, futures, crypto, and options. Its core value proposition is bringing structure to post-trade review: traders log trades, add notes, tag setups, and review aggregated stats over time.

Key features:

• Unlimited trade journal entries with notes and screenshots (paid plan)
• Setup and strategy tagging to track what works
• Analytics dashboard: win rate, average R:R, drawdown, profit factor
• Session and time-of-day performance breakdown
• CSV import and select broker integrations
• Multi-asset support for traders running multiple markets

Pricing: Free plan (limited trades), paid at $10/month or $100/year.

Pros:

• Genuine trade journaling with notes, tags, and setup tracking
• Clean analytics dashboard covering the metrics most traders need
• Multi-asset support for diversified traders
• More affordable than many competing journals at $100/year

Cons:

• No MT4/MT5 auto-sync — relies on CSV import for most brokers
• No AI, behavioral coaching, or pattern recognition
• Not built specifically for forex — pip-based reporting is not native
• No mobile app for reviewing trades on the go

Myfxbook Overview

Myfxbook is a free, forex-focused analytics and community platform. It connects to MT4/MT5 accounts via an Expert Advisor (EA) installed on your terminal, then syncs trades automatically. Beyond analytics, Myfxbook runs a social ecosystem with public performance pages, broker spread comparisons, an economic calendar, and an Autotrade copy trading service.

Key features:

• Automatic trade sync from MT4/MT5 via EA (no manual import)
• Account performance stats: equity curve, drawdown, session stats, win rate
• Broker spread monitoring and comparison tool
• Public portfolio pages with community benchmarking
• Autotrade copy trading (subscribe to signal providers)
• iOS and Android mobile apps
• Economic calendar integrated with trade data

Pricing: Free. Ad-supported with no paid tier for core analytics.

Pros:

• Completely free for all core analytics features
• Auto-sync removes manual data entry entirely
• Best-in-class broker connectivity for MT4/MT5 traders
• Mobile apps available on both platforms
• Community benchmarking helps contextualize your performance

Cons:

• No trade journaling — cannot add notes, tags, or setup categories
• Limited to MT4/MT5; proprietary broker platforms are unsupported
• Ad-supported interface with promotional noise
• No behavioral coaching, AI, or pattern detection
• Social features can distract from personal performance improvement

Feature-by-Feature Comparison

Trade Journaling and Post-Trade Analysis

This is the sharpest divide between the two platforms. Trademetria is built around the journaling workflow: you can annotate each trade with written notes, attach screenshots, assign setup tags (e.g., “breakout”, “retest”), and review performance segmented by those tags. Over 100 trades, this compounds into actionable pattern data — which setups have a 55% win rate vs 38%, which sessions drain your account.

Myfxbook does not offer journaling. There is no field for trade notes, no setup tagging, and no way to attach a screenshot to a specific trade. The analytics reflect what happened but provide no space for capturing why you took a trade or what you planned for it.

Consider a swing trader who holds positions for two to five days and takes roughly 30 trades per month. After six months, Trademetria gives them a breakdown of performance by setup tag — enough data to identify whether their trend-continuation entries outperform their reversal attempts. Myfxbook shows the same trader a clean equity curve and monthly return grid, but cannot answer which trade type is dragging down the average. Without that segmentation, the review process stalls at “I had a bad month” rather than “my reversal setups cost me 2R in Q2.”

Winner: Trademetria. Myfxbook has no equivalent journaling layer, and traders who skip post-trade annotation consistently struggle to isolate what is and is not working.

Analytics and Performance Stats

Both platforms produce meaningful performance data, but with different emphases. Trademetria covers win rate, profit factor, average R:R, drawdown, and session-by-session breakdowns. Analytics are populated manually via CSV import, so data quality depends on how consistently you import trades.

Myfxbook’s analytics are automatically populated and include equity curve visualization, drawdown percentage, monthly return grids, and live broker spread data. The auto-sync means the data is always current — there is no import step to skip. Myfxbook also shows how your stats compare to the community average, which adds a benchmarking layer Trademetria lacks.

One underappreciated limitation with Trademetria’s CSV-reliant workflow is how easily it degrades the journaling habit itself. A trader who misses their monthly export for two or three months does not just lose the data — they lose the momentum of consistent review. Rebuilding a 60-trade backlog is tedious enough that many traders simply never do it, so the journal becomes a selective record of good weeks only, which systematically overstates performance and masks problem patterns. Myfxbook eliminates this failure mode entirely by syncing in the background regardless of whether the trader logs in.

Winner: Tie on analytics depth overall. Myfxbook has the edge on data completeness for MT4/MT5 traders; Trademetria has the edge on segmented insight for traders who maintain consistent import discipline.

Broker Connectivity

Myfxbook connects to MT4 and MT5 accounts across more than 200 brokers via an Expert Advisor installed in the terminal. Once set up, sync is automatic and continuous with no manual export step required.

One less-discussed caveat: Myfxbook’s EA sync depends on the terminal being open and connected to the broker server. Traders who carry positions over weekends, or who hold swap-bearing overnight trades with MT4/MT5 running on a local machine, sometimes find that trades opened or modified while the terminal was offline are not captured cleanly. The EA catches up on reconnect, but partial data windows during downtime can create gaps in equity curve continuity — a subtle but real reliability issue for position traders and swing traders whose terminals are not always running. For traders running MT4 on a VPS, this concern largely disappears, but it is worth knowing before assuming the data is always complete.

Trademetria relies primarily on CSV import. For traders who export their trade history consistently, this works but requires discipline. Trademetria does offer direct integrations with select brokers and platforms, but the breadth is narrower than Myfxbook’s auto-sync network.

Winner: Myfxbook by a clear margin for broker connectivity — the auto-sync advantage is substantial for most retail traders despite the terminal-uptime caveat.

Pricing and Value

Myfxbook is free, which makes it the obvious choice for budget-conscious traders. Trademetria costs $10/month or $100/year. The question is whether the journaling layer justifies the cost.

If you are already consistent about reviewing trades, Trademetria’s structured journaling environment can replace a messy spreadsheet and deliver better insight per hour of review time. If you only want to track raw performance stats, Myfxbook’s free analytics are hard to argue against.

A useful frame: if Trademetria’s setup tagging helps you identify and eliminate one losing pattern per quarter — say, cutting out a setup that costs 0.5R on average across 15 trades — the $100/year cost pays for itself in avoided losses on almost any account size. That return on process improvement is realistic for traders who commit to the review workflow. For traders who will not log trade notes consistently, the same $100 buys nothing Myfxbook cannot provide for free.

Pricing Breakdown

Over 3 years, Trademetria costs $300 in subscription fees. There is no break-even point against Myfxbook since Myfxbook is free. The comparison is entirely about value: does Trademetria’s journaling depth deliver $100/year in improvement that free analytics cannot?

Who Should Choose Trademetria vs Myfxbook

Choose Trademetria if:

• You trade multiple asset classes (stocks, futures, crypto alongside forex) and need a single journal
• You want to tag setups and track which strategies perform best over time
• You are willing to spend $100/year on structured journaling that replaces ad-hoc spreadsheet tracking
• You do not rely exclusively on MT4/MT5 and need flexible CSV import

Choose Myfxbook if:

• You run an MT4 or MT5 account and want zero-setup, automatic trade tracking
• Free analytics is your priority and you do not write trade notes
• You are interested in social features, copy trading, or broker spread comparisons
• You want mobile access to your account stats

Our Verdict

Trademetria and Myfxbook are not direct substitutes. Trademetria is a trade journal; Myfxbook is a free analytics and social platform. If structured journaling with trade notes and setup tracking matters to you, Trademetria justifies its $100/year cost. If you only want automatic performance stats connected to MT4/MT5 at no cost, Myfxbook is an obvious starting point.

Neither platform offers AI behavioral coaching, forex-specific insights, or features designed around prop firm trading. Traders who want journaling depth combined with AI pattern analysis and a one-time price should look at PipJournal vs Trademetria or PipJournal vs Myfxbook to see how the platforms compare directly.

For related comparisons, see Edgewonk vs Myfxbook and Trademetria vs Edgewonk.

Frequently Asked Questions

Is Myfxbook a trading journal? Myfxbook is primarily a forex analytics and social platform. It tracks performance statistics from your MT4/MT5 account automatically, but it does not offer trade notes, setup tagging, or structured journaling features the way Trademetria or dedicated journals do.

How much does Trademetria cost? Trademetria offers a free tier with limited trades, and a paid plan at approximately $10/month or $100/year. The paid plan unlocks unlimited trade imports, advanced analytics, and full journaling features.

Does Trademetria support forex trading? Yes. Trademetria supports forex alongside stocks, futures, crypto, and options. The analytics are not forex-specific, so pip-based reporting and session analysis are less tailored than platforms built exclusively for forex.

Can Myfxbook track trades from any broker? Myfxbook works with MT4 and MT5 accounts via an Expert Advisor (EA) or CSV export. It supports over 200 brokers but is limited to MT4/MT5-based accounts. Brokers using proprietary platforms are not supported.

Which is better for prop firm traders? Neither is ideal for prop firm traders out of the box. Trademetria offers better journaling discipline tracking, but lacks prop firm-specific rule monitoring. Myfxbook’s free analytics are useful for reviewing overall performance but do not track daily loss limits or challenge rules.

Is there a free version of Trademetria? Yes, Trademetria has a free plan that allows a limited number of trades. Most serious traders will need the paid plan to import a full trading history and access the complete analytics suite.

What is a better alternative to both Trademetria and Myfxbook for forex traders? PipJournal is built exclusively for forex traders and combines structured journaling with AI behavioral coaching at a $179 one-time price. Unlike Trademetria’s subscription or Myfxbook’s ad-supported model, PipJournal has no recurring fees and is purpose-built for the forex workflow.