How to Read a MyFXBook Account Like an Auditor

A MyFXBook page contains a dozen numbers, and only about five of them tell you anything useful. Here is how to read one properly.

Gain vs absolute gain

Gain is time-weighted and adjusts for deposits and withdrawals. Absolute gain is the raw change in balance. When the two diverge widely, money has been moving in and out — check the deposits column before drawing conclusions.

Drawdown

Maximum drawdown is the largest peak-to-trough equity decline in the account's history, measured at that account's leverage. A low figure is meaningless if you intend to trade at a higher multiple.

Profit factor and expectancy

• Profit factor below 1.0 — the account loses money overall
• 1.0–1.5 — thin edge, sensitive to costs
• Above 2.0 — strong, if sustained over a large sample

Trade history is where the truth is

Sort by loss size. Look for the worst individual trades and check whether stops were used or whether losers were simply held until they recovered. A record of very long losing holds and very short winners is a warning sign.

Monthly analytics

Consistency across months matters more than a single spectacular month. Check whether the average is driven by one outlier.

Apply all of this to our account, linked on Proof — we would rather you audit it than take our word for it.