Company

Spread

for EUR/USD

Min.

Deposit

Platforms

Offered

Account

Types

Spread

Type

Funding

Methods

Customer

Support

Execution

Details
CFDs are leveraged products and can result in the loss of your capital. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Myfxbook

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:

Ready?

Part 1

Why Choose
For Myfxbook?

scored best in our review of the top brokers for myfxbook, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • + years in business
  • Offers + instruments
  • A range of platform inc.
  • 24/7 customer service
  • Tight spreads from pips
  • Used by 0+ traders
  • Offers demo account
  • 0 languages
  • Leverage up to

offers one way to trade: . If you wanted to trade EURUSD through copy trading or other means, skip to part two.

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

have a trust score, which is . This is largely down to them being regulated by , segregating client funds, being established for over years, and much more. For comparison:

Trust Score comparsion

Trust Score
Year Established
Regulated by
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We've compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: .

Suitable for:

  • Spread Betting
  • CFD Trading
  • Forex Trading
  • Social Trading

Not Suitable for:

To trade with , you'll need a minimum deposit of $. offers a range of different account types for different traders including a , .

Finally, isn't available in the following countries: . They do not offer islamic accounts either.

Part 3

A Comparison of vs. vs.


Want to see how stacks up against and ? We've compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread
GBP/USD Spread
USD/CAD Spread
USD/JPY Spread
DAX Spread
FTSE 100 Spread
S&P500 Spread

Comparison of account & trading features

Spread type Fixed
EUR/USD Spread
EUR/GBP Spread
Crude Oil Spread
Gold Spread Private Private Private
DAX Spread

Part 4

Myfxbook Review

Myfxbook is a web-based portal that provides tools for Forex analytics and also Forex social trading. With a selection of over 1000 brokers available to connect with, Myfxbook can be used to compare, track, analyse, and share the trading activity of Forex accounts on these brokerage platforms.

With Myfxbook, the following specific functions can be performed:

  • Any Forex account can be analysed using advanced statistical analysis.

  • Up to date market information can be accessed from the dashboard.

  • Analytics can be published to attract new copy trade clients.

Platforms that support Myfxbook include cTrader, MT4/MT5, Strategy Trader and TradeStation.

Myfxbook - features

Myfxbook – Features

Forex Myfxbook: The Interface

Myfxbook presents a dashboard that features tabs and drop down boxes for each tab, revealing all that can be done with the portal.

Myfxbook - Menu

Myfxbook – Menu

Here are the basic features that traders who use Myfxbook will encounter in their daily trading activity.

Charts

It is possible to view a variety of charts using this tab. Myfxbook is also a social trading community where experienced traders discuss price setups on charts. Use this function to engage with accomplished technical analysts.

Myfxbook - Charts

Myfxbook – Charts

It is possible to view the most followed, most viewed or recently updated charts. Below is an example of one of the most viewed and recently updated charts.

Myfxbook - Most Viewed Chart

Myfxbook – Most Viewed Chart

Portfolio

This function indicates the portfolio of the account holder linked to Myfxbook. Users can add as many different accounts as they like to view and analyse the activity from all their platforms in one place.

AutoTrade Service

Traders also get access to an Autotrade service from Myfxbook. Myfxbook works with several brokers to deliver a copy trade service. After opening a new account with the supported brokers, users can link their Myfxbook Copy Trade account within 30 seconds and start copying trades of other experienced and profitable traders immediately.

Several functions can be executed with Myfxbook. These are as follows:

  1. Demo Account Opening

Use the demo account to get a feel of the Autotrade Service. Click on AutoTrade -> Open Demo to open a demo account.

  1. Copying Trade Systems

To copy a trade system, use the following instructions:

  • Open a demo or live account.

  • Go to the AutoTrade section, then click ‘Manage’. This takes you to the management screen of the trading account in question.

  • Click ‘AutoTrade’ on the trade system you are interested in to start copying that system.

Myfxbook - Autotrade Systems

Myfxbook – Autotrade Systems

Alternatively, click the orange ‘AutoTrade’ button at the top of system page to start copying a system.

Myfxbook - Systems

Myfxbook – Systems

Systems

The systems tab enables the user to visualise all systems that are available to be copied, and presents an evaluation section on the left side of the screen. This can be used to filter what strategies or systems are displayed.

Reviews

The reviews page enables the reader to get unbiased and objective reviews about all kinds of services and service providers in the Forex market. These services/providers include brokers, PAMM accounts, EAs, signal provider services, trading platforms, rebate services, etc.

Connecting a MetaTrader Account to Myfxbook

One of the primary functions on Myfxbook is connecting a MetaTrader account to the Myfxbook portal. This function is the first step in being able to add trading history and perform other account analytics on Myfxbook.

The following instructions are for users of MT5.

Step 1: The first step is to download and install the Myfxbook EA installer.

Myfxbook - EA MT5 Installer

Myfxbook – EA MT5 Installer

Alternatively, the installation can be done manually by downloading the Myfxbook.mq5 file. Go to the MT5 platform, then click on File->Open Data Folder ->MQL5 -> Experts. Then copy the downloaded Myfxbook EA source file to this location. Once this has been done, restart the MT5 platform for the Myfxbook EA to appear.

Step 2: It is assumed that the MT5 platform from any of the supported brokers has been downloaded. Restart the MT5 platform, then click on Tools -> Options -> Expert Advisors. This shows up as shown below:

Myfxbook - Installer Options

Myfxbook – Installer Options

Myfxbook - Installer Options

Myfxbook – Installer Options

Check on the appropriate check boxes, then click the OK button. Next, go to the MT5 Navigator by clicking on View -> Navigator, then locate the Myfxbook EA in the ‘Experts Advisors’ tab:

Myfxbook - Navigator

Myfxbook – Navigator

Alternatively, you can simply go to the left-hand side of the MT5 platform and extract this file from there.

Step 3: When you have located the Myfxbook EA, double-click on the Myfxbook EA icon to activate it. A dialog box pops-up as shown and the Input parameters should be as is displayed below:

Myfxbook - Diaglogue Box

Myfxbook – Diaglogue Box

Step 4: The next step is to change the settings in the Input field of the dialog box with the following Input values:

  1. Myfxbook_Email: Here, enter the email that was used to register on Myfxbook as the login email.

  2. Myfxbook_Password: In this section, enter the Myfxbook login password.

  3. Publish Interval Minutes: This is set by default to 5, meaning that the account is published every 5 minutes. A different timeframe can be selected if preferred.

Click the OK button when to save these settings.

Myfxbook - EA Icon

Myfxbook – EA Icon

Once the settings have been saved, the Myfxbook EA icon is displayed at the top right corner of the active chart. Click the Experts tab in the Terminal Window to confirm that the Myfxbook EA has been loaded properly and is ready to work.

Myfxbook - Experts Tab

Myfxbook – Experts Tab

Wait until the markets are open for the Myfxbook EA to automatically update and publish all of the accounts on Myfxbook.

This provides users with a system for providing verifiable trade results from an MT5 account straight to Myfxbook for others to see and possibly follow.

Similar processes exist for connecting other platform types to Myfxbook.

Brokers

With around 1500 FX brokers available to work with, many of the leading broker platforms can be connected to Myfxbook. A few examples include City Index, FXCM, LCG and Pepperstone.


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