A Guide to Myfxbook Autotrade – All You Need to Know About the Copy Trading Platform

There are several reasons why many novice traders are choosing copy trading over other methods of trading. Whether it is its simplicity or convenience, there’s no doubt that copy trading has become popular in recent years. That explains why most trading platforms now support this type of trading.

However, not all are reliable. So, doing your due diligence to identify trusted copy trading platforms is key. One such platform is Myfxbook Autotrade. It is probably among the top 10 copy trading platforms in the world today. If you wish to copy trades on Myfxbook Autotrade, then we advise you to continue reading this guide to learn more about the platform.

Exploring Myfxbook Autotrade

With Myfxbook Autotrade, users are able to follow the strategies of profitable traders, thus gaining profits as well. Before copying any trader, the platform provides the necessary information you need to analyze in order to pick the right lead trader.

Myfxbook is the brainchild of two Israeli brothers, Pavel and Alexa Rekun. They launched the platform in early 2009 with the goal of creating a social trading community for professionals and newbies. The idea was to give new traders a smooth entry into the trading world.

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Myfxbook Autotrade does not charge you a fee. However, depending on your broker, you might incur a commission fee. The platform has been adopted by several brokerage firms that seek to offer copy trading services to their users.

Here are the advantages and Disadvantages of copy trading on Myfxbook Autotrade.


  • Myfxbook gives users access to multiple markets.
  • Offers sufficient information to allow users to select the right traders.
  • Provides a demo account to let you test its copy trading service before committing actual funds.


  • High minimum investment. You need $1,000 or more to start copying trades on Myfxbook Autotrade.
  • It is impossible to filter your search for traders.
  • Compared to its competitors, Myfxbook Autotrade has a limited number of professional traders.

How Myfxbook Autotrade Works

Before going any further, it is important to understand that Myfxbook Autotrade is not a broker. So, you need to have an account with a broker compatible with this platform to start copy trading. Here is how to get started with Myfxbook Autotrade:

Step 1: Select a Broker

The first step requires you to identify a broker that offers access to Myfxbook Autotrade. Some of the reliable brokers include IC Markets, Pepperstone, XM, FXOpen, and Tickmill.

Step 2: Register a Broker Account

After selecting your preferred broker, it is time to create an account by providing basic details such as your name, email, phone number, and country of residence.

Step 3: Fund Your Account

Before a regulated broker allows you to fund your account, you will be required to verify your identity by providing your identification document. Upon verification, your broker will make several deposit methods available to fund your account. The most supported payment methods include bank transfers, credit/debit cards, and crypto transfers.

Step 4: Pick Your Ideal Strategy

To choose your preferred trader on Myfxbook Autotrade, you will first need to link your broker account with the platform. To do this, your broker will provide you with login details that you will enter on Myfxbook Autotrade to access your trading account from the copy trading platform.

After you have successfully linked your broker account with Myfxbook Autotrade, you can start exploring traders on the copy trading platform to find the one that aligns with your investment objectives. To help you pick your ideal trader, Myfxbook Autotrade gives you access to critical information like the traders’ win rate, average loss, number of trading days, maximum drawdown, and profit-share ratio.

Step 5: Start Copying Trades

After finding the trader you like, you can start copying their strategy. To do this, allocate your desired trading capital to the trader and select the trading pair you would love to copy. Remember to set your take profit and stop loss levels. Once done, click “Copy” to begin your copy trading journey.

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