How to read a Myfxbook account: what “verified” means and what to check before you trust it

A “verified” account on Myfxbook has had two things checked: that its history matches the broker’s data, and that whoever publishes it controls the account. It doesn’t tell you whether the strategy is any good, or even whether the money is real. To judge it, you have to read its numbers: Gain, which deposits don’t move; Abs. Gain, which they do; a drawdown that Myfxbook calculates its own way; and the trade statistics, which is where martingale and grid systems tend to give themselves away.

What “verified” means on Myfxbook: Track record, Trading privileges and Live update

Myfxbook is a third-party service that connects to a trading account, a MetaTrader 5 one for example, copies its history and calculates statistics. Many robot sellers, signal providers and copy trading managers use it as a shop window, because an account checked by a third party is worth more than a screenshot, as we said in what to check when choosing an Expert Advisor for gold. It pays to know exactly what it checks. The account header carries three labels, and each one is only ticked if the condition is met:

According to Myfxbook’s help pages, an account now has to be fully verified (the first two labels) before it can be made public or shared through a private link. Even so, its public listing includes accounts with one of the two unticked, so check on the Myfxbook page itself, not in a screenshot or on the seller’s website: an image can be edited in a minute.

What none of the labels tells you is whether the money is real. That’s in the line next to the account name, where Myfxbook shows whether the account is Real or Demo, its currency, the broker, the leverage and the platform. A demo can be verified and still be a demo, with near-perfect execution and costs that aren’t the real ones, as we saw in demo or live account.

Gain, Abs. Gain, Daily and Monthly: how much it has really made

The return figures are at the top, in the Stats tab of the Info block, and each one answers a different question:

• Gain. A time-weighted return. Myfxbook divides the result of each trade by the balance the account had when the trade was opened and chains those percentages together, so deposits and withdrawals don’t move it. It’s for judging the strategy, not your wallet.
• Abs. Gain (absolute gain). Total profit divided by total deposits, times 100. Every new deposit changes it.
• Daily and Monthly. The daily and monthly compound rate you’d have to chain over the life of the account to reach the Gain. They’re averages, not what it made each day or each month.

A made-up example. You deposit $1,000 and the first trade makes $500: +50%. You deposit another $10,000 and the next trade loses $1,000 on a balance of $11,500: −8.70%. Gain chains the two: (1 + 500/1,000) × (1 − 1,000/11,500) − 1 = +36.96%. But in money you’ve lost $500, and Abs. Gain shows it: −500 ÷ 11,000 = −4.55%.

Both figures are correct. Gain says that, in percentage terms, the strategy made more than it lost; Abs. Gain says you lost money because the bad trade came with more capital in the account. That’s why you read them together, alongside Deposits and Withdrawals (in the same Stats tab) and the Deposit and Withdrawal markers on the chart.

Daily and Monthly depend heavily on how long the account has been running: with only a few weeks of history, any streak, good or bad, turned into compound interest produces very high or very low averages. They become more representative as the account adds months.

Drawdown, balance and equity on Myfxbook

Drawdown is the fall from a peak to the low that comes after it; we explain it in what is drawdown. According to its help pages, Myfxbook calculates three and shows the largest:

• End of day. If trades are still open, it takes the equity and records the floating losses.
• Intraday. It does the same every time the account updates.
• Growth. It compares each day’s Gain with the previous high and records the falls.

So it includes losses that were never closed, and it depends on how often the account updates. Don’t compare it directly with a backtest’s drawdown: the MetaTrader 5 Strategy Tester report separates the drawdown on balance from the drawdown on equity (how to read that report, in profit factor and the Strategy Tester report).

Next to it are Balance (the money in the account, not counting open trades), Equity (the balance plus or minus what open positions are making or losing) and Highest (the highest point the account has reached, with its date). If equity is well below balance, there are open losses that don’t show in the closed history yet. What happens if they keep growing, in margin call and stop out.

The Myfxbook statistics that matter: Trades, Win% and Profit Factor

Further down, in the Trading and Advanced Statistics blocks, are the numbers on the trades. To start with, these are all you need:

• Trades. How many closed trades sit behind the figures. The more there are, the more weight all the other numbers carry.
• Win% and Profitability. The percentage of winning trades. Longs Won and Shorts Won split it into buys (longs) and sells (shorts).
• Average Win and Average Loss. The average winning and losing trade, in pips and in money. One divided by the other gives the risk-reward ratio actually achieved.
• Profit Factor. Gross profit divided by gross loss. Above 1, it makes money; and the more trades behind it, the more reliable it is (see profit factor).
• Expectancy. What each trade makes on average. How the win rate and the ratio shape it, in trading expectancy.
• Pips. They’re useful within a single symbol, but on gold each platform counts pips its own way, and Myfxbook can show thousands on a single trade. Look at the money and the percentages first (why, in how to calculate lot size in gold).

Advanced statistics, for later

Myfxbook adds others that help less at first; each one is explained when you hover over it. AHPR and GHPR are the average return per trade, arithmetic and geometric: a negative GHPR means that, with profits reinvested, the system would lose money. The Sharpe Ratio measures whether the return makes up for the risk taken, and Standard Deviation, how far results stray from the average. The Z-Score looks at whether winning and losing streaks follow a pattern or are random. And the Risk of Ruin tab estimates the probability of losing 10%, 20%… up to 100% of the account. They all come from the same history, so they become more reliable as trades build up.

Red flags in a Myfxbook account

None of them proves on its own that something is wrong, but each one deserves a question to the seller. When several show up together, the answer is usually clear:

• Without both ticks, or only in screenshots. If Track record or Trading privileges aren’t verified on the Myfxbook page, you don’t know whether the history is the broker’s, or whether the account belongs to the person showing it to you.
• A demo account. Verified or not, it doesn’t show the execution or the costs of a live account.
• Deposits and withdrawals that dress up the numbers. A high Gain with a low or negative Abs. Gain: check when the money went in and when it came out.
• Hidden history, lots, balance or equity. Whoever publishes the account chooses which statistics are public. Lots can be hidden separately, and hiding the balance also hides the equity, deposits and withdrawals. Without the history you can’t review the trades; without the lots, you can’t see whether they double after a loss; and without the equity, you can’t see what the open trades are losing. Hiding only open trades is common practice for robots and signals, so they can’t be copied in real time: with equity in view, you can still see how they’re doing.
• A very high win rate with an average loss far bigger than the average win. It’s the fingerprint of martingale (doubling the lot size after every loss), grid and averaging down: many small wins and, every so often, a loss that wipes out months. With a 90% win rate and losses ten times bigger than the wins, expectancy is already negative (the math, in why a high win rate can be a trap). More in red flags of a trading robot scam.
• Jumping lot sizes. In the History tab, the Lots column should move little, or in line with the balance. Lots that double after a loss, or positions in the same direction that keep piling up, are the same fingerprint.
• Equity well below balance. There are large floating losses that the closed history doesn’t reflect yet: the balance can keep rising while the account sinks.
• A custom start date. Myfxbook doesn’t allow trades to be deleted, but whoever publishes the account can have it analyzed from a date of their choosing. If the account is public, you can see that the date has been set and look at the earlier history too: check that part as well.

A checklist for reviewing a Myfxbook account

Before you pay for a robot or a signal, run the account through this list, in this order:

• Open it on myfxbook.com, not in a screenshot, and check that Track record and Trading privileges are verified.
• Read the line under the name: Real or Demo, currency, broker and leverage.
• See how many trades there are (Trades) and since when (Started, in the General tab): the more trades, the more reliable the other figures. Check, too, whether the analysis starts from a custom date.
• Compare Gain and Abs. Gain, and check Deposits and Withdrawals (in the Stats tab).
• Read the drawdown and ask yourself whether you could sit through that fall with your own money.
• Put the win rate, the average win and the average loss side by side.
• Go through the lot sizes of the latest trades in History.
• Compare equity with balance.
• If the history, lots, balance or equity are private, ask why.

If the account passes the list, what you have is a genuine, readable history, not a guarantee. And if you’re also shown a backtest, bear in mind that the two measure different things: once the live account has plenty of trades behind it, a brilliant backtest that it looks nothing like points to overfitting or to costs the simulation didn’t include.

AUREUM’s live account on Myfxbook

AUREUM has a live account connected to Myfxbook, with its history (Track record) and its trading permissions (Trading privileges) verified. We link to it from the Transparency section of the home page, and you can open it directly on Myfxbook. We don’t summarize its figures here because they change with every trade: on Myfxbook you see them as of their latest update.

The home page also shows its backtest, which is something else: a simulation on XAU/USD, on the 1-hour chart, from 2020 to 2026, with 439 trades and a maximum drawdown on balance of 21.84%. It isn’t a live account, and that drawdown isn’t calculated the way Myfxbook’s is, which also counts floating losses.

Frequently asked questions about Myfxbook