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Supporting more than 100 brokers, Myfxbook delivers a professional online automated analytical tool for Forex traders. Recently celebrating 10 years of service, the software is now considered a household name in retail foreign exchange trading (Forex trading).
Among other features, Myfxbook can be used to do the following:
- Improve trading skills and trading experience by analysing trading systems and monitoring trading activity.
- Share trading strategies employing different timeframes (common trading styles: day trading, scalping, swing trading and investing), and verify past performance using real-time trading results (track record).
- Locate and compare money managers (some money managers focus on the broader Forex market; others may concentrate on one or two currency pairs, such as EUR/USD and GBP/USD).
While Myfxbook offers a market-leading service, all technology companies experience issues every now and then. The following lists three of the most common problems along with some handy Myfxbook troubleshooting tips.
Website Layout and Functionality
Myfxbook’s website layout and functionality is a common issue.
Myfxbook state their website is fully compatible with the following web browsers: Firefox 3, Firefox 3.5, Internet Explorer 7, Internet Explorer 8, Safari and Google Chrome. They specifically recommend Firefox, a free and open-sourced web browser developed by Mozilla Foundation.
Should performance issues continue, despite using the recommended web browsers, downloading the latest flash version is suggested. To help avoid a conflicting issue, Myfxbook also recommend you do not have any browser plugins running. Additionally, try to avoid running flash content in other browser tabs (or browsers), such as YouTube videos.
If performance still suffers, Myfxbook provides a Report A Bug! feature. Alternatively, you can contact them via their dedicated Contact Us page. Be sure to state the issue clearly and inform them what web browser you use.
Missing Account History
With MetaTrader platforms, another common issue frequently reported is missing trading history.
Generally, traders view their historical transactions through the trading terminal (Ctrl T) by selecting the Account History tab. To view the entire history, right click on the history panel and click All History (you also have the option of customising the period), as shown in figure 1.
If your historical transaction data is not added to MetaTrader’s history panel, you must contact your Forex/CFD provider directly as Myfxbook cannot recover lost data.
(Figure 1 – MetaTrader 4 Account History)
Adding Another Account
Establishing additional accounts (whether that be live accounts [real accounts] or demo accounts [simulated accounts]) on Myfxbook is exciting. If the account is set up correctly, it should take no longer than a minute to process. Accounts that are set as Pending, therefore, often leave users frustrated.
A pending account can result from a number of things – most common is users entering incorrect account numbers or investor passwords. In addition, lack of trading history can cause account opening to be delayed – initial trades must be made in order for Myfxbook’s system to analyse and publish data. Some users have also had success after restarting their trading platform.
To add another trading account to Myfxbook, click on the Portfolio tab and select Add Account. You’ll then be greeted by an Accounts page, as in figure 2. Following this, select Add Account and enter the necessary details (figure 3) and click Create Account. Once details are entered correctly (investor password is a read-only access password to your account – If you’re not sure what your investor password is you can reset this from your MetaTrader account via Tools > Options > Change [Server tab]), it will take the system a few seconds create your new account (figure 4).
(Figure 2 – Account Settings Myfxbook)
(Figure 3 – Account Settings Myfxbook)
(Figure 4 – Account Settings Myfxbook)
- The vouching system is unique to Myfxbook. It allows users to recognise trusted traders, those that have demonstrated skill and experience. You will not be able to vouch until you’ve received three vouches yourself.
- Finding a system. Two primary ways of locating a trading system to suit your trading style and preferences are available. If you know the name of the trading system you can search it in the Search function located in the menu. Should you wish to specify the search criteria by parameters, such as Gain, Drawdown, Profitability and System Age, you must click on Systems, located in the menu, and work from there.
- Rating Forex brokers. This feature helps the Myfxbook community identify which providers offer the best services from things such as Platform, Fees and Customer Service. This service is also anonymous.
Disclaimer: The information contained in this material is intended for general advice only. It does not take into account your investment objectives, financial situation or particular needs. FP Markets has made every effort to ensure the accuracy of the information as at the date of publication. FP Markets does not give any warranty or representation as to the material. Examples included in this material are for illustrative purposes only. To the extent permitted by law, FP Markets and its employees shall not be liable for any loss or damage arising in any way (including by way of negligence) from or in connection with any information provided in or omitted from this material. Features of the FP Markets products including applicable fees and charges are outlined in the Product Disclosure Statements available from FP Markets website, www.fpmarkets.com and should be considered before deciding to deal in those products. Derivatives can be risky; losses can exceed your initial payment. FP Markets recommends that you seek independent initial investment advice. First Prudential Markets Pty Ltd trading as FP Markets ABN 16 112 600 281, Australian Financial Services License Number 286354.