Myfxbook Frequently Asked Questions

Myfxbook Subscriber FAQ

  • How do I set up a MyFXbook AutoTrade account?

    First you need to establish an account with AxiTrader. Once your account is live and funded with minimum $1000 USD you will need to connect your account with AutoTrade by following this link. You will need both your master and investor password handy (they can be found in your “Live Account is Ready” email from AxiTrader).

  • Is there a minimum amount I need in my account to use AutoTrade?

    There is a minimum deposit amount of $1000 USD.

  • Can I connect my existing account AxiTrader account?

    No, you need to open a sub-account of your existing account to connect to AutoTrade. You can set up a sub-account via the client request panel. You can then deposit funds to the new account or transfer funds from an existing account. If you prefer, you can contact us for assistance.

  • Can I set up a Myfxbook for free?

    Yes, although once you start to trade using the live AutoTrade service, a part of the spread you pay on your trades will be paid to the AutoTrade provider (up to half a pip per profitable trade).

  • Can I use a pro account to connect to Myfxbook AutoTrade?

    No. You can only connect to Myfxbook with a standard account.

  • Can I use a demo account?

    Yes, you can use a demo account. You can set up a Myfxbook demo account by clicking on the “Open Demo Account” button at the top of the AutoTrade page on the Myfxbook website.

  • Can I still trade in my account if it is following a provider in AutoTrade?

    Yes, you may still place trades in your account.

  • How long will it take to approve my account for trading once it is added to Myfxbook?

    Once your AxiTrader account is set up you can apply for a Myfxbook AutoTrade account. Once you apply for an AutoTrade account it can take up to 48 hours for Myfxbook to approve your account.

  • Need more info?

Myfxbook Provider FAQ

  • How do I become an AutoTrade provider?

    Simply connect your account to Myfxbook. If you have a proven track record, you will be able to offer your system for others to follow.

  • What is a proven track record?

    • A connected, real and verified MetaTrader 4 account with Myfxbook with least 3 months history.
    • Drawdown of no more than 50%.
    • Return of at least 10% more than drawdown
    • Average pip-win per trade of at least 10.
    • Average trade time over 5 minutes.
    • System must not use any martingale/grid techniques.
    • An account balance of at least $1000.

    If you have a connected AutoTrade account, you can check if it is eligible. Follow this link and click “Check Accounts” at the bottom of the page: http://www.myfxbook.com/autotrade/faq

  • What can I earn as a provider?

    You can earn up to half a pip for each winning trade.

  • How do I get paid my earnings?

    They will be deposited into your trading account.

  • Can my AutoTrade account be a demo account?

    No, Myfxbook requires it to be a real account.

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