Mytradr vs Myfxbook — Free Trading Journal Comparison

Myfxbook has been a go-to for forex traders since 2009. Mytradr is the newer alternative built specifically around automated journaling and privacy. Both offer free plans. Here’s how they compare.

Auto-Journaling: How Trades Get Tracked

Myfxbook connects to your broker account using your investor (read-only) password. It pulls trades from your broker’s server. This works, but it means sharing your broker credentials with a third-party service.

Mytradr journals trades directly from your trading account using a read-only connection. Your deal history is read and closed trades are sent to your journal over encrypted HTTP. Your broker credentials never leave your machine. Currently supports MT5.

Winner: Mytradr — same automation, better privacy.

What You Get for Free

Myfxbook free plan:

• Basic trade tracking and analytics
• Community features (forums, strategy sharing)
• Portfolio analysis
• Limited historical data
• Ads in the interface

Mytradr free plan:

• One journal with table view and trade details
• Manual trade entry
• Five notes with rich text editor
• One pre-saved risk calculator strategy
• Weekly notes and reports summary
• No ads, no time limit

Winner: Depends on what you need. Myfxbook gives broader analytics for free. Mytradr gives a cleaner journaling experience with notes and risk calculator included.

Position Size Calculator

Myfxbook does not include a position size calculator. You’d use a separate tool or website.

Mytradr has a built-in calculator with 4+ strategies (Fixed, Adaptive Growth, Double-Pulse, Reset-on-Loss), compounding projections, drawdown analysis, and prop firm tracking. Available on all plans including free.

Winner: Mytradr — built-in vs nonexistent.

Notes and Analysis

Myfxbook is focused on trade stats and community features. There’s no dedicated notes system for trade analysis, session plans, or strategy documentation.

Mytradr includes an offline-first rich text editor with folders, search, image embedding, and automatic sync. Capture your pre-trade analysis, mark up charts, and organize notes by strategy or session.

Winner: Mytradr — Myfxbook has no equivalent.

Privacy and Security

Myfxbook requires your broker’s investor password to auto-sync trades. While this is a read-only password, you’re still sharing credentials with a third party. Your trading data is visible on their platform (you can set it to private, but it’s public by default).

Mytradr never asks for broker credentials. The connection is read-only and runs locally. Data is encrypted and stored with strict per-user isolation — each user can only access their own records. Nothing is public by default.

Winner: Mytradr — no credential sharing, private by default.

Community and Social Features

Myfxbook has a large community with forums, strategy sharing, trade copying, and public portfolio profiles. If social trading features matter to you, Myfxbook has years of network effects.

Mytradr is focused on individual journaling and doesn’t have social features. No public profiles, no community forums.

Winner: Myfxbook — this is their core strength.

Analytics

Myfxbook provides extensive portfolio-level analytics: growth curves, drawdown charts, monthly returns, and statistical analysis. Good for tracking overall account performance.

Mytradr provides trade-level analytics: calendar heatmaps, per-trade details, psychology tracking, and performance reports. Better for reviewing individual trades and identifying behavioral patterns.

Winner: Tie — different focus areas. Myfxbook for portfolio-level, Mytradr for trade-level.

Pricing Comparison

The Verdict

Choose Mytradr if:

• Privacy matters — you don’t want to share broker credentials
• You want a built-in position size calculator
• You need offline notes for trade analysis
• You want psychology tracking and discipline scoring
• You prefer a modern, clean interface without ads

Choose Myfxbook if:

• Community and social features are important to you
• You want public portfolio tracking for investors
• You need broad broker compatibility beyond MT5
• You want free portfolio-level analytics

Both work for free. Try Mytradr if you want a modern trading journal with privacy-first auto-journaling. Stick with Myfxbook if social trading features are your priority.

Start journaling for free — create your Mytradr account in 30 seconds. No credit card required.