Alternative

Algo Studio vs MyFxBook

The legacy standard for public forex track records — broad adoption, stagnant feature set.

What is MyFxBook?

MyFxBook has been the default place to display a verified forex track record for over a decade. Its strength is ubiquity: almost every broker supports auto-import, and most prop firms and signal service subscribers expect to see a MyFxBook link. That adoption is real and worth acknowledging.

The weakness is that the product has barely evolved since the early 2010s. Features like drift detection, health scoring, and cryptographic proof are absent. Verification is honor-based — MyFxBook reads from your account via investor password and displays the results. There is no mathematical guarantee that the record is tamper-proof, and tampering incidents have been documented.

MyFxBook is the right choice if you need the wide adoption and do not need modern analytics. Algo Studio is the right choice if you need verifiable proof and statistical monitoring.

Feature comparison

Feature	Algo Studio	MyFxBook
Automatic trade tracking from MT5 Live trade ingestion from MetaTrader 5 without manual import.	✓ Full	✓ Full
Statistical drift detection CUSUM or equivalent statistical monitoring of live vs backtest.	✓ Full	✗ None
Composite health scoring Single-number score aggregating multiple performance dimensions.	✓ Full	✗ None
Monte Carlo analysis Trade-shuffled simulations to estimate drawdown distribution.	✓ Full	✗ None
Cryptographic hash-chain proof Tamper-evident track record verifiable without trust.	✓ Full	✗ None
Automated strategy halt System can automatically stop a drifting EA.	✓ Full	✗ None
Shareable public proof pages Verified track records with public URLs.	✓ Full	✓ Full
Free tier with full features All core features available on a free plan.	✓ Full	✓ Full
Telegram / Discord / email alerts Real-time notifications for important events.	✓ Full	~ Limited
Manual trade journaling + notes Structured trade annotations and review workflow.	~ Partial	~ Limited

Pricing

Algo Studio

€0/mo

Baseline plan: every feature, 1 account, no credit card. Control/Authority plans scale account count, not feature access.

MyFxBook

Free

Free core features; revenue primarily from broker affiliate integrations.

MyFxBook: the honest take

Where it wins

✓Industry-standard — widely recognized by prop firms and signal subscribers
✓Automatic broker integration for hundreds of brokers
✓Free core features with no paywall for basic tracking
✓Large community presence (forums, public track records)

Where it falls short

✗No statistical drift detection — just raw equity curve display
✗Verification is trust-based (investor password), not cryptographically proven
✗No Monte Carlo or backtest comparison analytics
✗Stagnant feature development — largely unchanged since mid-2010s
✗Affiliate-driven broker recommendations can create conflicts of interest

Which should you choose?

Choose MyFxBook when…

·You need the widest possible adoption — prop firms and signal subscribers are familiar with MyFxBook links specifically
·You want a purely descriptive track record without analytics overhead
·You have a portfolio of diverse broker connections MyFxBook already integrates with

Choose Algo Studio when…

·You want cryptographic proof that your track record cannot be edited after the fact
·You need drift detection to catch EA degradation before it costs you
·You run MT5 Expert Advisors and want governance tooling (auto-halt, health scoring)
·You want Monte Carlo analysis of your backtests for robustness verification

Migrating from MyFxBook

Export your MyFxBook trade history (account → Settings → Export to CSV)
Install the Algo Studio monitor EA on your MetaTrader 5 terminal
Upload your most recent backtest as the baseline for drift detection
Algo Studio begins tracking live trades from the moment the monitor EA connects
If you need MyFxBook adoption during transition, keep both running in parallel — there is no conflict

Frequently asked questions

Can Algo Studio import my existing MyFxBook history?

Partial import is possible via CSV export. However, imported history cannot be cryptographically signed retroactively — it enters the proof chain as 'imported, unverified'. Only trades that flow through the live monitor EA are cryptographically proven.

Is Algo Studio free like MyFxBook?

Yes. The free Baseline plan includes all features — drift detection, health scoring, cryptographic proof, auto-halt, alerts — with a 1-account limit. Paid plans scale the number of monitored accounts, not feature access.

Does Algo Studio work with the same brokers as MyFxBook?

Algo Studio connects via the MetaTrader 5 terminal, so any MT5-compatible broker works. Unlike MyFxBook's broker-by-broker API integration, this approach is broker-agnostic — if your broker supports MT5, Algo Studio monitors it.

Can I keep my MyFxBook account while using Algo Studio?

Yes, the two are fully compatible. Many traders keep a MyFxBook page for adoption and Algo Studio for analytics. The monitor EA does not conflict with MyFxBook's investor-password reader.

Try Algo Studio alongside MyFxBook

Free Baseline plan, no credit card, no conflicts with your existing setup. Most traders start by running both in parallel for a few weeks.

Start free See pricing

Last verified: 2026-04-13