NakedPnL vs MyFXBook: Verified Track Records Compared
MyFXBook verifies forex MT4/MT5 accounts via investor password. NakedPnL publishes a multi-venue, hash-chained registry. Here's how they actually differ.
- MyFXBook is a forex-focused track record verifier that connects to MT4/MT5 via the broker's read-only investor password.
- NakedPnL is a publisher that connects to crypto exchanges, IBKR, and prediction markets via read-only API keys, then publishes a SHA-256 hash-chained, append-only registry anchored daily to Bitcoin.
- If you trade only forex through MetaTrader, MyFXBook is the obvious incumbent. If you trade across crypto exchanges, equities at IBKR, or prediction markets, NakedPnL is the only multi-venue option with cryptographic re-verifiability.
Verdict at a glance
MyFXBook and NakedPnL both exist to answer the same question: 'is this trader's track record real?' They answer it in fundamentally different ways for fundamentally different audiences. MyFXBook has been the de facto verifier for retail forex traders since 2009 and is tightly coupled to MetaTrader. NakedPnL is a multi-venue registry whose verification model is cryptographic, not procedural — anyone can re-compute every published return from raw broker responses without trusting NakedPnL's servers.
Choose MyFXBook if you want the largest forex-only public community and you trade exclusively through an MT4/MT5 broker. Choose NakedPnL if you want a single verified record that spans Binance, Bybit, OKX, IBKR, Kalshi, and Polymarket — and if you want viewers to be able to programmatically verify your returns without trusting either you or the publisher.
What they do differently
MyFXBook authenticates a trader by asking them to enter the MetaTrader investor password (a read-only credential) and a server name. MyFXBook then connects to the broker's MT4/MT5 server several times a day to pull trade history. The verification it offers is a public 'verified' badge stating that the data came from the broker, not from a manual upload.
NakedPnL authenticates the venue connection differently for each platform: read-only API key + signature for Binance, Bybit, OKX; Flex Web Service token for Interactive Brokers; RSA-PSS signing for Kalshi; wallet signature plus on-chain reconciliation against The Graph subgraph for Polymarket. Daily NAV snapshots are reduced to a time-weighted return with Decimal.js precision, then each row is hashed (SHA-256 over canonicalized broker payload) and chained into the previous day's hash. A daily Merkle tree of all chain heads is anchored to Bitcoin via OpenTimestamps.
Feature comparison
| Criterion | NakedPnL | MyFXBook |
|---|---|---|
| Category | Publisher / verified-data registry | Forex track record verifier and community |
| Custody model | None (read-only connections only) | None (read-only investor password) |
| API access model | Read-only exchange API keys; wallet signatures | MT4/MT5 investor password (read-only) |
| Verification mechanism | SHA-256 hash chain + daily Bitcoin OpenTimestamps anchor | Direct broker connection; procedural 'verified' badge |
| Independent re-verification | Yes — browser-side SHA-256 re-hash from raw payloads | No — trust placed in MyFXBook's connection |
| Public registry / leaderboards | Public registry filtered on opt-in consent | Public Outlook / Markets / Systems leaderboards |
| Supported asset classes | Crypto, equities (IBKR), prediction markets (Kalshi, Polymarket) | Forex, CFDs, indices via MT4/MT5 |
| Performance metric | Time-weighted return (TWR), GIPS-recognized geometric chain-linking | Gain, drawdown, profit factor, pips; multiple stats published |
| Cost to traders | Free tier; paid tiers for advanced features | Free for basic accounts; some premium services |
| Cost to viewers | Free public read | Free public read |
| Regulatory category | Publisher of verified data; not an adviser, broker, or copy-trading platform | Information service / social network for forex |
| Open-source methodology | Hash + TWR algorithm published at /methodology and /docs/verification | Verification approach documented; calc not reproducible from raw inputs |
| Privacy model | GDPR-aligned opt-in via PublicConsent; consent withdrawable | Account public/private toggle |
| Past underperformance | Append-only — historical NAV rows cannot be silently removed | Account-level deletion possible; resetting visible to viewers |
| Geographic restrictions | Binance routes pinned outside the US; broader registry globally accessible | Globally accessible; broker-side restrictions vary |
Use cases
- MetaTrader-only forex trader building a public retail audience: MyFXBook's footprint and community size are unmatched.
- Multi-venue trader (e.g. spot crypto on Binance + perps on Bybit + IBKR equities): NakedPnL is the only path to a single verified record.
- Allocator who wants to programmatically re-verify a track record before due diligence: NakedPnL exposes raw responses + hash chain so the viewer can re-derive every TWR row.
- Forex signal seller pointing to a long-running track record: MyFXBook remains the conventional choice in the forex marketing ecosystem.
- Prediction-market trader (Kalshi, Polymarket) wanting public proof of returns: NakedPnL is currently the only registry that ingests both venues under a single TWR.
Pricing
Both platforms have a free tier for basic public profiles. MyFXBook offers free verification of MT4/MT5 accounts and monetizes through autotrading, signal services, and broker partnerships. NakedPnL offers a free FREE tier for trader profiles and registry inclusion; PRO and FUND_DESK tiers add features such as alerts, custom domains, LP-link sharing with watermark, and outbound webhooks. Public viewers do not pay on either platform.
Why this comparison is hard
MyFXBook and NakedPnL are in different categories. MyFXBook is a forex track record service plus social network: it has signal copying, autotrading widgets, broker partnerships, and a discussion forum. NakedPnL is a publisher of verified performance data — it doesn't route trades, doesn't host signals, doesn't sell broker leads, and doesn't allow copy trading. The closest fair framing is: 'if you only need MetaTrader forex verification and want a community, MyFXBook is the incumbent; if you need cross-venue verification with cryptographic re-verifiability, NakedPnL is the only product in that shape.'