Trading Monitor vs Myfxbook:
Which do you need?
Both are valuable tools for MetaTrader traders, but they solve different problems. This comparison helps you choose the right one — or use both.
Feature comparison
| Funcionalidad | Trading Monitor | Myfxbook |
|---|---|---|
| Real-time drawdown monitoring | ||
| Drawdown push alerts | ||
| Per-strategy DD (magic number) | ||
| Native mobile app | Web only | |
| Auto sync every 60s | Manual/periodic | |
| Detailed historical analysis | Basic | |
| Social trading community | ||
| Public/verified portfolio | ||
| Prop firm DD monitoring | ||
| Manual drawdown reset | ||
| Free | Free plan available |
When to use Myfxbook
Myfxbook is a mature platform with over a decade in the market. It has clear strengths that Trading Monitor doesn't aim to replace:
- Deep historical analysis: Detailed performance charts, equity curves, and advanced metrics like Sharpe ratio and recovery factor.
- Verified public portfolio: Ideal for proving your track record to investors or for others to copy your trades.
- Social community: Forums, rankings, and the ability to discover and follow other traders.
- Completely free: All analysis features at no cost.
When to use Trading Monitor
Trading Monitor is designed for a specific problem that Myfxbook doesn't solve: proactive protection against drawdown violations.
- Instant push alerts: Get a notification on your phone before you cross your drawdown limit, not after.
- Drawdown by magic number: Know exactly which EA or strategy is costing you money. Myfxbook doesn't offer this.
- Prop firm monitoring: Set your prop firm's exact limits and get alerts when you're approaching. Avoid losing evaluations.
- Native mobile app: Check all your accounts from your phone anytime, without opening a browser.
Conclusion: They're complementary
You don't need to choose one or the other. Many traders use both tools because they solve different problems.
Myfxbook for analysis
Analyze your historical performance, share your track record, and connect with the community.
Trading Monitor for protection
Protect your accounts in real time with drawdown alerts and per-strategy monitoring.
Add the missing piece
Whether you use Myfxbook, another tool, or none — Trading Monitor adds the real-time protection layer your account needs.
5-minute setup. No credit card required.
Free forever with 1 account. No credit card.