The Trading Terminal vs Myfxbook — Honest Comparison
Myfxbook is a performance tracking platform with community features, primarily for automated/managed forex accounts. This page compares it to The Trading Terminal for discretionary traders who need journaling, analytics, prop firm risk management (Risk Desk, Do Not Trade) and strategy research. Updated 5 October 2026. Competitor data last verified: September 2026. Independently researched September 2026 and not rechecked on 5 October 2026. Confirm current features at myfxbook.com.
The Real Difference
Myfxbook is primarily a performance tracking and community platform — strong for displaying automated account results publicly, but not built for discretionary traders who need trade-by-trade journaling, setup tagging, mistake analysis and strategy research. The Trading Terminal is built specifically for discretionary traders: 16 modules across journaling, analytics, risk management and strategy research, with an A$0 free plan and no public display requirement.
The Trading Terminal is a trading performance platform — 16 modules across journaling, analytics, risk management and strategy research. The core difference is depth: Risk Desk with breach warnings, Mistake Cost Analysis that shows the net P&L of every tagged mistake, Trade Lab for named strategy tracking, and 60+ analytics views including Trader DNA and 0–100 Edge Score. The Free plan is a full journal with set limits and no trial period.
Feature Comparison
| Feature | The Trading Terminal | Myfxbook |
|---|---|---|
| Free tier | ✓ Full journal + dashboard | |
| Paid from | A$19/mo (Pro) | Free — no paid tiers for core features. |
| Analytics views | ✓ 60+ analytics views | Account-level metrics (win rate, drawdown, profit factor). No setup-level analytics, no psychology fields. |
| Mistake Cost Analysis | ✓ Net P&L per mistake tag | No — Myfxbook is performance display, not mistake analysis ( |
| Trader DNA | ✓ 9-dimension performance breakdown | Not listed |
| Edge Score (0–100) | ✓ Composite gauge from 6 signals | Not listed |
| Risk Desk / breach tracking | ✓ Distance-to-breach bars | |
| Do Not Trade rules | ✓ Data-driven rule engine | Not listed |
| Trade Lab (strategy tracker) | ✓ Named strategies, best conditions, comparison | Not listed |
| Broker import | ✓ cTrader OAuth, MT4/MT5 Expert Advisor | MT4/MT5 import ( |
| Position sizer | ✓ Free, 25 instruments | Not listed |
| Modules total | 16 modules | Auto-sync, community portfolio, system signals |
Myfxbook data independently researched September 2026. Features and availability change — verify at myfxbook.com. The Trading Terminal is not responsible for decisions made based on information that has since changed.
When to Choose The Trading Terminal
- You want a free plan that's a real product — full journal, dashboard, position sizer, no card required
- You need prop firm risk management — Risk Desk with breach warnings built in
- You want deep analytics — 60+ views, Mistake Cost Analysis, Trader DNA, Edge Score
- You're running multiple strategies — Trade Lab tracks each one independently
- You trade forex, gold, indices, crypto, oil or futures with multiple accounts