MyFxBook Kicks it Out of the Park: Why This Publishing Service is the Best for Metatrader Accounts

If you are an Asirikuy member you should already be familiarized with MyFXBook. This publishing service is used in Asirikuy to keep members informed about the performance of our more than 70 live trading accounts, updated frequently and with the “peace of mind” that comes from knowing that the accounts are verified, actual live accounts trading REAL money. Today I want to give this great publishing service a little bit of space, especially talking about its newest and greatest feature which was released a little bit less than 48 hours ago. On the following few paragraphs you’ll see why MyFXBook is the BEST publishing service for MT4 brokers and why their latest implementation simply “kicks it out of the park”.

When you want to know the results of your MT4 trading accounts and share them with other people it becomes essential to be able to publish them in a way which allows them to be analyzed in great detail. There are a myriad of websites that offer this service but none of them can even come close to MyFXBook. What makes this publishing service so great amongst its competitors? What separates MyFXBook from the hoard? In reality the only thing that makes MyFXbook so superior is their ability to interface directly with Metatrader 4 servers. Yes, MyFXBook staff have an MT4 server API.

Why is it so important to have an API for a publishing service? Up until now MyFXBook had used this to their great advantage by making this the only service available online which allowed users to VERIFY their accounts. Their system took the users investor access information and checked it against a statement downloaded directly from the MT4 server, effectively checking that the trading results published by the user were REAL and not doctored in any way. The MyFXBook investor access and trading privilege services are unique amongst the industry and make them the only service where true transparency can be had. Other websites have attempted to compete with them through the inclusion of more ellaborate charts and statistics but they simply CANNOT compete with the fact that MyFXBook is the only service which provides TRUE account verification. Statements on other websites can be just fancy smoke and mirrors while in MyFXBook verified accounts you know you’re getting the real deal.

This had been an important advantage for them against their competitors but they fully kicked it out of the park almost 48 hours ago with the introduction of their new publishing mechanism. Through this new feature you can now publish account results WITHOUT the need to run the MT4 platform or run an EA on a chart, the system automatically logs into your account DIRECTLY using read-only access (through investor password) and retrieves your account history directly. This means automatic updating of your platforms every 5 minutes without the need to have any MT4 platform open! Oh boy was I happy when I learned that I could turn off all those 70+ publishers I had running on my servers :o) Accounts updated in this way are also instantly verified as getting the info requires a DIRECT connection with a broker server (since MyFXBook knows which servers are demo or live it also allows for an instant and transparent distinction between demo and live accounts).

So no more publishing delays, no more platform crashes due to publishing experts, no more failures of the FTP publisher needing restarts, just easy-to-use constant updating of accounts with direct connections to MT4 broker servers. Could you ask for anything else? Well certainly not from a publishing and verification perspective but it is quite intriguing to note that MyFXBook has a direct MT4 connection API which opens up the way to trading outside the MT4 platform through a direct connection with these servers. Certainly no one – besides them – knows how far they have taken their API (or if they are interested in trade execution at all using it) but it seems tempting to think that MyFXBook has made this possible.

Another very interesting thing is the fact that MyFXBook is very committed to the transparency of the results shown on their website. Due to this MyFXBook has recently decided to make broker information show on ALL public accounts – regardless of privacy settings – therefore making people who show extremely profitable trading accounts on shadowy brokers unable to fool anyone. People have noticed that this is a common tactic used by bad brokers or shadowy managers and EA sellers to get their hands on people’s money and this broker transparency decision will make this impossible as users will be able to notice that the results are irrelevant or highly suspicious.

So to sum it up MyFXBook’s transparency policy and new publishing mechanisms are the BEST amongst all the MT4 publishing website and none of their competitors can even come CLOSE unless they develop their own API to give access to the same convenience and level of verification. Thanks a lot MyFXBook for making publication and verification such a breeze! :o)

If you would like to learn more about my work in automated trading and how you too can get a true education dealing with system design and evaluation please consider joining Asirikuy.com, a website filled with educational videos, trading systems, development and a sound, honest and transparent approach towards automated trading in general . I hope you enjoyed this article ! :o)

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6 Responses to “MyFxBook Kicks it Out of the Park: Why This Publishing Service is the Best for Metatrader Accounts”

  1. Jon says:

    Just checking MyFxBook’s strategies, and this is what I find first in the ranking. How can they keep such a thing there? This makes them loose all their credibility for me.

    Gain: +2195853.72M%
    Daily: 531426359.29%
    Monthly: 15941441053.96%
    Drawdown: 0.78%
    Balance: $65875677.4K
    Highest: (Apr 15) $65882179.5K
    Profit: $65875677373.61
    Deposits: $3.00
    Test Started:Jan 04, 2000
    Test Ended:Apr 15, 2011
    Timeframe:15 Minutes
    Model Type:Every Tick
    Added:Apr 19 at 05:41

    • admin says:

      Hi Jon,

      Thank you for posting :o) Well the problem is that they allow anyone to upload ANY backtest to the strategies section so simply ignore this whole section as it provides no valuable information. Backtests as the one you show are simply the product of taking advantage of backtesting shortcomings in simulation accuracy. In my opinion MyFXBook is the service with the best Live publishing features amongst all MT4 providers, however just from a point of publishing live, verified results, the strategy section – as you have noted – is obviously garbage. Thanks again for posting,

      Best Regards,

      Daniel

  2. Skyline says:

    Also forexfactory started in february a service called Trade Explorer which has a direct mt4 api connection, I guess there’ll be more and more site in future that will offer this kind of useful service.

    Cheers,
    Giacomo

  3. Jeff says:

    Hi Daniel,

    Yes, I can see from what you say that MyFxBook is very useful for establishing a credible history of trading.

    But if one wants an easy an quick way to look at and anlyse one’s own trading results then MyFxBook is somewhat limited whereas a site such as MT4i.com has many more features for quick and visible insights into what is performing well and what isn’t without the need to resort to importing all the data into Excel.

    Best wishes and thanks for all your efforts,

    Jeff

  4. jonny says:

    Myfxbook was king. But no longer. MT4i publisher EA is far superior! It gives you more control to analyze specific portion of your account. You can choose start date to begin analyzing your new EA or new strategy. Myfxbook pulls up the entire history of your account. This is not an advantage!

    • admin says:

      Hi Jonny,

      The main advantage of myfxbook is their MT4 direct connection API. No need for any EA loaded on your charts, plus you have direct investor access confirmation (so you know that accounts are really live). You can also analyse custom dates in myfxbook (see custom date option on the top). Definitely no other platform that doesn’t offer a direct API can be compared to myfxbook (this is simply a great feature, automatic updating directly from the account plus direct confirmation of the account (real account, broker, etc)). Thank you for posting!

      Best regards,

      Daniel

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