Myfxbook AutoTrade: copying verified accounts only
Myfxbook began as an independent verification service for trading accounts, and AutoTrade grew out of exactly that: here you can only copy what the service has already verified. We look at what verification gives you and what it does not guarantee.
Verified statistics as the foundation of the service
The platform's main value is verified statistics. An account connects to the service and broadcasts its trades automatically, so the history is not drawn by hand and cannot be trimmed at the author's discretion. AutoTrade lets you copy such accounts onto your own trading account at a broker from the supported list.
What verification confirms. That the trades are real and were made on the account claimed. It does not confirm that the strategy is sound, that the author is not running ten other accounts in parallel, or that the result will repeat. It is a filter against forgery, not against a bad strategy.
Copying verified accounts and Myfxbook account analysis
Myfxbook AutoTrade: short answers
- Why Myfxbook is useful even without copying
- As an independent verification tool: connect a lead trader's account from another venue to it and look at the drawdown by equity and the distribution of trades.
- Can verified statistics be trusted
- They can be trusted as a fact about the trades on that account. But they say nothing about the author's other accounts or the strategy's future.
- Do you need a separate broker
- Yes, copying works through supported brokers — check the list before opening an account.
- Is it suitable for a beginner
- Probably not. The service's strength is analytics, and to get value from it you need to be able to read account metrics.
The list of supported brokers and the service terms change — check them on the platform's site before connecting.
Frequently asked questions
How AutoTrade differs from MQL5 Signals
MQL5 is a marketplace inside the terminal with a subscription paid to the author. Myfxbook is a layer on top of verified statistics: proof of the result first, copying second.
What to look at first in the report
Equity drawdown, how long it has been published, the number of trades and how profit is spread over time. If the entire result was made in one month, that is an episode, not a strategy.
Does verification protect against martingale
Indirectly: a verified history shows how size grew after losses and how many positions were held at once. The signs of averaging are readable if you know what to look for.
How does Myfxbook AutoTrade work?
The service broadcasts the trades of traders with verified statistics onto your account at a supported broker. Verification is its main distinction: the metrics are computed from the connected account.
What does verified statistics mean?
That the figures are taken from a trading account through a direct connection rather than entered by the author by hand. That rules out a drawn return, but it does not assess the strategy's risk.
Which brokers does AutoTrade support?
The list is limited and changes — check it on the venue itself. Without a supported account, copying will not connect.
How much does AutoTrade cost?
The broadcast itself usually charges the subscriber nothing directly; the cost arrives through the broker's terms and through the strategy author's fee, where one applies.
How does AutoTrade differ from MQL5 signals?
In the source of trust in the figures: at Myfxbook metrics are verified by connecting to the account, at MQL5 statistics are computed inside the terminal's own ecosystem. The copying mechanics are similar.
Can several strategies be copied at once?
Yes, but verified statistics do not save you from correlation: several authors on one set of currency pairs deliver the risk of a single position.
How connecting to AutoTrade works
AutoTrade grew out of a statistics verification service, and that determines its whole logic: confirmed figures first, copying only after.
The venue's main value is that metrics are computed from the connected trading account rather than entered by the author. That rules out a drawn return but does not remove the need to check track record and drawdown.
computed from the accountCopying does not work with any account: the broker list is limited. Execution terms remain the broker's — the venue does not improve them.
a limited listWhether your risk repeats the author's depends on whether you copy proportionally or at a fixed lot. Proportional mode is the only one that preserves it in per cent.
risk in per centA portfolio of verified accounts is still a portfolio: if the authors trade the same set of pairs, verified statistics will not save you from correlation.
correlation remainsWho Myfxbook AutoTrade suits and who it does not
Other copying venues
Nine services examined to one template: where the trade executes, whether a terminal is required, how the fee is computed and what happens with statistics verification.
An official app screenshot from the platform: the interface is real, the figures in it are illustrative and promise nothing. Colours mapped to the site palette, avatars blurred.
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