myFXbook...safe to use ? | Forex Factory

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myFXbook...safe to use ?

  • #1
  • First Post: Apr 4, 2010 12:12pm Apr 4, 2010 12:12pm
Need some inputs from more savvy guys here. Services provided by myfxbook or similar websites such as currensee, are they safe to use ? Any privacy issues similar to other social networking sites ? How about the integrity of the trading account, will it be compromised ? I find the features attractive however I have some concerns as stated above.

Thanks
  • #2
  • Apr 4, 2010 12:24pm Apr 4, 2010 12:24pm
I thought the same but since I don't need to provide them with any password, I feel safe.
Measure twice, cut once
  • #3
  • Apr 4, 2010 12:32pm Apr 4, 2010 12:32pm
I've used them near since they went live, July of 2009 I believe.
My listed account is with Oanda, which basically only requires us to update the account history to myfxbook. I feel pretty safe with that.

I know MetaTrader accounts are a bit different. Personally, I find them reputable and use them. Though honestly, I'm no internet security expert.

I haven't heard of any security issues posted on Forex Factory. There are quite a few locals here (well known members) who have also used them to track their accounts.

Xaron, M.A.C.Doug, TheFool, SSherwood, aediaz1 are some that come to mind.
  • #4
  • Apr 4, 2010 12:44pm Apr 4, 2010 12:44pm
Quoting aediaz1
I thought the same but since I don't need to provide them with any password, I feel safe.
Quoting Intu
I've used them near since they went live, July of 2009 I believe.
My listed account is with Oanda, which basically only requires us to update the account history to myfxbook. I feel pretty safe with that.

I know MetaTrader accounts are a bit different. Personally, I find them reputable and use them....
Thanks guys, I am likely to give it a try as it is so convenient, beats doing it on excel.
  • #5
  • Apr 4, 2010 1:03pm Apr 4, 2010 1:03pm
If you have doubts about them, you should open a smaller acct with your broker and connect that acct to myfxbook. As time goes along and you feel they can be trusted then move you main acct over to them.

Just a thought: Anytime you connect ANY personal information/trading acct to a company you have no knowledge of, can be a bad thing.Just because they have a "flashy" site doesn't mean they can be trusted. Unless you know the owners personally, always use caution when giving out/connecting to unknown forex participates.
  • #6
  • Apr 4, 2010 1:50pm Apr 4, 2010 1:50pm
Quoting Jhig
If you have doubts about them, you should open a smaller acct with your broker and connect that acct to myfxbook. As time goes along and you feel they can be trusted then move you main acct over to them.

Just a thought: Anytime you connect ANY personal information/trading acct to a company you have no knowledge of, can be a bad thing.Just because they have a "flashy" site doesn't mean they can be trusted. Unless you know the owners personally, always use caution when giving out/connecting to unknown forex participates.
I agree with you. Personally I think it is only a matter of time before problems starts surfacing. The "risk" involved would be the magnitude of the problem, but its kind of hard to imagine the worst case scenario given the infancy of such websites.

The other thing that came to my mind is that why main stream forex brokers do not provide such analytic tools, its should be easy for a broker to do so and shouldn't cost much. Big advantages for the trader/customer, maybe it is an advantage brokers don't want clients to have.

Will keep your advise in mind, thanks, now looking thorugh the website, I can't seem to find instructions on what to do if I don't want to use the service anymore.....
  • #7
  • Apr 4, 2010 2:19pm Apr 4, 2010 2:19pm
I don't know about other countries, but in the U.S. when you call in regarding your account you need to provide information like social security number, mailing address, mothers maiden name, birth date, etc, etc. There really isn't much one can do with just your account number.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #8
  • Apr 4, 2010 6:55pm Apr 4, 2010 6:55pm
What privacy issues? You only give them investor password. They can't do shat with it.
  • #9
  • Edited Jul 2, 2010 2:01am Jul 1, 2010 2:02am | Edited Jul 2, 2010 2:01am
anybody still using myfxbook?
I'm trying it out on my demo account, just started new account so its all new data I'm using.


http://www.myfxbook.com/widget?id=38...pe=1&color=red

http://www.myfxbook.com/widgets/38741/medium.jpg
"There's a big difference between looking successful and being successful"
  • #10
  • Jul 7, 2010 2:24am Jul 7, 2010 2:24am
Hello. I would like to load my Oanda full history to establish new myfxbook, but i cant find full history in Oanda, there is only sinc beggining of the year. And i tried it 3X, and nothing. I was loading it for 12hours... Thank you
  • #11
  • Jul 7, 2010 2:47am Jul 7, 2010 2:47am
Quoting Fana
Hello. I would like to load my Oanda full history to establish new myfxbook, but i cant find full history in Oanda, there is only sinc beggining of the year. And i tried it 3X, and nothing. I was loading it for 12hours... Thank you
below is from help page
--------------------------------------
My account is missing some trading history and charts(FxGame)
Since Oanda deletes from time to time account's history (FxGame) from their servers, you might notice the yield is different value than what you've come up with.
This happens because of the fact that yield factor relies on account deposits. If we couldn't locate a deposit in your account, our system uses the first balance found as a deposit.

http://www.myfxbook.com/widget?id=38...pe=1&color=red
"There's a big difference between looking successful and being successful"
  • #12
  • Jul 7, 2010 2:57am Jul 7, 2010 2:57am
i think its better dont connect with real accounts with big amount
  • #13
  • Jul 7, 2010 2:57am Jul 7, 2010 2:57am
Quoting oldmaster
below is from help page
--------------------------------------
My account is missing some trading history and charts(FxGame)
Since Oanda deletes from time to time account's history (FxGame) from their servers, you might notice the yield is different value than what you've come up with.
This happens because of the fact that yield factor relies on account deposits. If we couldn't locate a deposit in your account, our system uses the first balance found as a deposit.

http://www.myfxbook.com/widget?id=38...pe=1&color=red...
Oldmaster, thank you, but this doesnt solve the problem. It is nice from them to write, that Oanda have something they cant handle...
  • #14
  • Jul 7, 2010 3:09am Jul 7, 2010 3:09am
Quoting Fana
Oldmaster, thank you, but this doesnt solve the problem. It is nice from them to write, that Oanda have something they cant handle...
have you tried searching the forum in myfxbook. they might have some topics on it there fana

http://www.myfxbook.com/widget?id=38...pe=1&color=red
"There's a big difference between looking successful and being successful"
  • #15
  • Jul 7, 2010 3:19am Jul 7, 2010 3:19am
Quoting oldmaster
have you tried searching the forum in myfxbook. they might have some topics on it there fana

http://www.myfxbook.com/widget?id=38...pe=1&color=red
No, i dont have time for such research, i trade 15hours daily live. So at weekend.
Forum? Why do you think i ask straight?:-)
  • #16
  • Jul 7, 2010 3:40am Jul 7, 2010 3:40am
Quoting Fana
No, i dont have time for such research, i trade 15hours daily live. So at weekend.
Forum? Why do you think i ask straight?:-)

wowo, 15 hours daily


http://www.myfxbook.com/widget?id=38...pe=1&color=red
"There's a big difference between looking successful and being successful"
  • #17
  • Jul 7, 2010 3:44am Jul 7, 2010 3:44am
Quoting oldmaster
wowo, 15 hours daily


http://www.myfxbook.com/widget?id=38...pe=1&color=red
? Why to comment this... It is normal when one want to reach something. Do you want easy money? Me not.
This is not normal... 2X15hours. Only if you hacve light-speed "airplane?", or cyrcling stlill somewhere near the time border in ocean...:-)... Dont be easy prey. regards
  • #18
  • Jul 7, 2010 3:51am Jul 7, 2010 3:51am
Quoting Fana
? Why to comment this... It is normal when one want to reach something. Do you want easy money? Me not.
This is not normal... 2X15hours. Only if you hacve light-speed "airplane?", or cyrcling stlill somewhere near the time border in ocean...:-)... Dont be easy prey. regards
I trade long hours too but couldn't imagine doing 15hrs daily as I have other commitments to balance life.

It's serious business but enjoy the journey
"There's a big difference between looking successful and being successful"
  • #19
  • Jul 7, 2010 3:54am Jul 7, 2010 3:54am
Quoting oldmaster
I trade long hours too but couldn't imagine doing 15hrs daily as I have other commitments to balance life.

It's serious business but enjoy the journey
Yes, not good for eyes, but i do sport after trading(in-line and running in the evening or night), it helps...
  • #20
  • Jun 25, 2011 9:39am Jun 25, 2011 9:39am
Hi
I am using myfxbook for keeping the trading record . Though its functionality is quite good; I am worried about its credibility(So many trolls and all) for any future reference (Be it investor or just interviews) if required.

Is there any reliable website to keep trading records which can give credibility and at the same to help me give analysis.
Zulutrade and all only keeping track of pips, which is quite useless for any shrewd investor.
Collective2 asks for money upfront.Does it worth money?

Please enlighten!!
Thanks
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