Myfxbook is a verification service that people keep trying to use as a journal. It connects to your MT4 or MT5 account, publishes a public page of verified statistics, and that page is genuinely useful when a prop firm, a signal buyer, or a copy-trading follower wants proof you are not inventing your numbers. Ask it why your Tuesday London trades keep giving back Monday's gains and it has nothing to say. That is not a flaw. It was never built to answer that question. It is just the wrong tool for the job a lot of traders are actually trying to do.
What Myfxbook is genuinely for
Broadcasting a verified track record. You link your account through a read-only investor password or an Expert Advisor, and Myfxbook stamps your equity curve, drawdown, profit factor, and monthly returns as independently tracked. That badge has real value in a world full of screenshotted balances that mean nothing. It is free, it is forex-native, and around it sits a whole community layer: AutoTrade for copying systems, the Community Outlook sentiment showing how the crowd is positioned, an economic calendar, and a set of position-size and pip calculators that plenty of traders keep bookmarked.
If your goal is to prove your results to someone else, or to keep a public, tamper-proof scoreboard, Myfxbook does that better than most paid tools, precisely because it is read-only and public by design.
It is worth giving credit where it is due, because a free verified track record is a genuine public good. Before Myfxbook, judging a forex record meant trusting screenshots, and screenshots are worthless. It made a whole category of claims checkable, which is why prop firms, signal marketplaces, and cautious copiers still treat a Myfxbook link as the baseline proof. Any honest alternative has to concede it is not trying to replace that. It is trying to do the different job that begins after the proof is filed.
Where it runs out
Myfxbook reports. It does not review. The distinction is the whole reason traders go looking for an alternative once they are past the "prove it" stage.
The read-only link that makes verification trustworthy also means the data is thin. It captures fills and results, not intent. There is no clean way to note why you took each trade, no screenshot of the chart at entry, no tag for the mistake, no custom field for the setup so you can break performance down by strategy rather than by symbol. The analytics tell you what happened to your account. They do not tell you what to change. The interface has aged, there are ads, and the manual journaling that does exist is an afterthought bolted onto a tool whose real purpose is public statistics.
None of that is a knock on Myfxbook doing its actual job. It is just that "here is a verified equity curve" and "here is why you keep losing on Fridays" are different products, and the first one cannot quietly become the second.
The ads and the ageing interface are minor irritations next to the deeper one, which is that verification and improvement pull a product in opposite directions. To be trustworthy, verified data has to be read-only and hard to edit. To be useful for review, a journal has to let you attach rich, subjective, editable context to every trade. You cannot maximise both in the same tool, and Myfxbook correctly picked the first. That single choice is why it is the right home for a public track record and the wrong home for a private one you are trying to fix.
The copy-trading angle, briefly
A lot of people arrive at Myfxbook through AutoTrade, either to copy a system or to publish one. If that is your world, be clear about what the platform optimises for. It is a marketplace built on the verified track record, so its incentives point at broadcasting performance, not at helping the person behind the account improve it. Copiers get a scoreboard, publishers get a shop window, and neither role needs a review workflow. That is a coherent product. It simply is not a journal, and leaning on it as one leaves the improvement work undone.
What a replacement actually needs to add
Before shopping for an alternative, write down what Myfxbook is missing rather than which logos look nicest. For most traders it comes down to four things: a place to record why each trade was taken, the chart at entry stored next to the result, custom tags so performance breaks down by setup and not just by symbol, and statistics aimed at behaviour (expectancy, R-multiple distribution, session and day breakdowns) rather than at a public equity curve. A tool that adds those to the verified data you already trust is a real upgrade. A tool that just presents the same numbers more prettily is not.
The alternatives, honestly
If all you need is verification, do not switch. Stay on Myfxbook, or add FXBlue alongside it. Nothing beats a free, public, independently verified track record, and paying for a journal will not give you a better version of that specific thing.
If you want deep manual review and psychology tracking , look at Edgewonk, TradeZella, or TraderSync. Edgewonk is forex-first with the deepest mistake and rule tracking in the category. TradeZella and TraderSync are more polished and lean towards US markets, with strong replay and plan-adherence features. All three are built around the review workflow Myfxbook lacks, which is the reason to reach for a dedicated journal in the first place.
If you trade forex on fundamentals and want the context in the same place you journal , TradeSave+ is the closer fit. It syncs MT4 and MT5 through a lightweight Expert Advisor and captures a chart screenshot and timeframe at entry, then sits that next to a fundamentals workspace built for currency traders: weekly COT positioning data , a currency strength read , and an economic calendar. The honest caveat is that it does the opposite of Myfxbook's headline feature. A journal like this is private analysis, not a public verification badge. If what you need is a shareable, independently verified track record to show a prop firm or a follower, that remains Myfxbook's job, and no amount of journaling replaces it.
Which one is you
Pick by the question you are actually asking. If it is "how do I prove this to someone", Myfxbook already wins and an alternative is a step sideways. If it is "how do I get better", you have outgrown verification and you want a review tool, and the right one depends on whether you trade discretionary forex, US futures, or systems you want to broadcast. Traders who journal MT4 and MT5 specifically will find a fuller comparison in our guide to the best journal for MT4 and MT5 , since the way each tool pulls your terminal data matters more than any feature list.