{"id":60970,"date":"2025-12-08T20:45:36","date_gmt":"2025-12-08T12:45:36","guid":{"rendered":"https:\/\/mister.forex\/?p=60970"},"modified":"2025-12-09T17:53:25","modified_gmt":"2025-12-09T09:53:25","slug":"myfxbook-tutorial-verify-account","status":"publish","type":"post","link":"https:\/\/mister.forex\/en\/myfxbook-tutorial-verify-account\/","title":{"rendered":"Myfxbook Beginner's Guide: How to Verify and Track Your Trading Account"},"content":{"rendered":"
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\nHave you ever felt that a trade \"should win,\" only to end up with a loss? Or perhaps you believed a strategy was effective, but at the end of the month, your account balance showed no significant growth?

\nFor forex beginners, the biggest enemy is often not the market, but the subjective judgment of \"feeling good.\" We lack a set of objective data to review performance, leading to repeated mistakes or blind confidence.

\nThis is the purpose of Myfxbook.

\nMyfxbook is a professional online trading account analysis tool that automatically syncs with your MT4 \/ MT5 account and converts your trading records into in-depth statistical charts. This article will walk you through the most critical step\u2014\"Account Verification\"\u2014to start your journey of improving through objective analysis.

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Why do you need Myfxbook? It's not for showing off, it's a trader's \"Dashboard\"<\/strong><\/h3>\nMany people mistakenly believe Myfxbook is just a tool to \"show off\" performance to others, but its true core value lies in \"self-review.\" It acts like a precision dashboard, faithfully reflecting the health of your trading strategy.

\n\nFeature 1: Objective Performance Analysis and Tracking<\/strong>
\nMyfxbook automatically calculates all key performance indicators (KPIs), such as Gain, Drawdown, Profit Factor, etc. This helps you move away from the subjective \"this trade feels good\" judgment to a more scientific, data-driven mindset like \"is the expectancy of my strategy positive?\"

\n\nFeature 2: Transparency is the Cornerstone of Trust<\/strong>
\nIn trading communities or Copy Trading, words are cheap. A trading statement \"Verified\" by Myfxbook is the gold standard for proving the authenticity and profitability of a strategy. If you want to become a strategy provider in the future, Myfxbook is your first step to building authority and trust.

\n\nFeature 3: Powerful Self-Review Tool<\/strong>
\nThrough Myfxbook's \"Advanced Statistics,\" you can analyze the performance of specific currency pairs, profit and loss during different trading sessions, average holding time, etc. This precisely helps you identify your strengths and weaknesses, such as: \"Do I always trade impulsively and lose money during the US market opening?\"

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Pro Story: How Myfxbook Burst the \"Gold Expert\" Illusion<\/strong><\/h3>\nI have a friend who was obsessed with trading Gold (XAUUSD). He loved the huge volatility of Gold and indeed caught a few big trends, so he always claimed to be a \"Gold Expert.\"

\nBut the brutal truth only surfaced after he started using Myfxbook.

\nThe data showed that although he had a few amazing profits on Gold, his losses were equally staggering. Overall, he was actually losing money on his \"specialty,\" Gold.

\nIronically, the data showed that the currency pair where he made a steady profit was actually EUR\/GBP, which he found \"boring.\" Myfxbook acted like an honest mirror, allowing him to objectively see for the first time: what he thought was his \"strength\" was actually his \"blind spot,\" and what he ignored was his true \"edge.\"

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Myfxbook Registration and Account Verification: Complete Tutorial<\/strong><\/h3>\nThis is the core of this article; we will take you through the setup step by step.

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Pro Tip: Why do we demonstrate using the English Interface?<\/strong><\/h4>\nIn the following tutorial, we will use the \"English Interface\" for screenshots. This is because Myfxbook's multi-language translations often have imprecise terminology, which can lead to misunderstandings. To ensure you learn the correct financial terms and align with international trading standards, we strongly recommend switching your Myfxbook language to \"English\" and following the instructions in this guide.

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Step 1: Sign Up for a Myfxbook Account<\/strong><\/h4>\nGo to the Myfxbook official website (myfxbook.com<\/a>) and click on \"Sign Up\" in the top right corner. Enter your email, set a username and password. This step is very simple; just follow the prompts.
\n\n\"Myfxbook\n\u00a0\u00a0\n

Step 2: Add an Account in Myfxbook<\/strong><\/h4>\nAfter logging in, find the \"Portfolio\" section on the dashboard and click \"Add Account\".
\n\n\"Select\n\nOn the \"Add Account\" page, the platform will ask for the platform type you want to connect. Please select \"MetaTrader 4 (Auto Update)\" or \"MetaTrader 5 (Auto Update)\".

\n\n\"Myfxbook<\/a>
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Step 3: (Critical) Get the MT4 \/ MT5 \"Investor Password\"<\/strong><\/h4>\nThis is where beginners get stuck most often. For security reasons, Myfxbook does not need your \"Master Password\" (used for placing orders) but requires the \"Investor Password\" (also known as Read-Only Password). This is a password that only allows viewing trades and cannot perform any operations.

Myfxbook must use this password to safely sync your trading records.
\n\u274c Master Password (Tradable) \u2714\ufe0f Investor Password (View Only)\n<\/span><\/div>\n\t\t
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How to set the \"Investor Password\" on your trading platform?<\/strong><\/h5>\nSince the settings differ between MT4 and MT5, and between PC and mobile versions, we have prepared complete guides. Please click on the corresponding guide below for your platform:\n<\/span><\/div>\n\t\t\t\t
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PC Version Tutorial:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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