How to Tell if an EA's Live Track Record Is Real

"Has a live track record." "Public on Myfxbook." An EA with an actual account record is more reassuring than one with only a backtest — and rightly so. But "has a record" and "the record is trustworthy" are two different things. Plenty of records look real yet aren't decision-grade. Here is how to read a live track record like an investor, and what to check.

Check 1: Is it a demo account?

Myfxbook and signal records can be made on a demo account. No real money moves on a demo, and fill conditions are lenient. A strong demo result is not a guarantee of live performance.

• On Myfxbook, check the account type (Real / Demo).
• On an MQL5 signal, check whether it is a Real account.

If the "track record" is demo-only, it is not much better than a backtest.

Check 2: Is the period long enough?

Three months in the green is indicative, not conclusive. It may have caught one favorable market phase.

• Look for at least 6 months, ideally 1 year or more of live record.
• Check whether that period included more than one direction (up, down and range).

Check 3: Drawdown and trading style

Look past the flashy return to the drawdown behind it and how the profit is made.

• Is the maximum drawdown realistic (equity-based — see the drawdown article)?
• Is it holding floating losses to keep closed P&L clean? Closed results can look smooth while the floating-loss valleys are deep.
• Is the lot size steady, or does it jump — a sign of martingale or averaging?

Check 4: Is it cherry-picked?

You may be shown only the one account that worked out.

• Are multiple accounts of the same EA public? A single account may be the lucky one, selected to show.
• Have any accounts been stopped or deleted?
• Does the record's start date suspiciously coincide with "right after the market turned favorable"?

Check 5: Third-party verified, or self-reported?

Screenshots and self-made charts can be edited freely.

• Is the Myfxbook account "Verified" (the account authenticated with the investor password)?
• Does the platform itself record the trades automatically, as an MQL5 signal does?

Only records where a third party verifies the trade data directly stand apart from self-reporting.

Where we stand

We do not treat a live track record as a universal proof. In fact, what decides our flagship ranking is not the live record itself but the overall real data — trade count, test period, PF and equity DD (the reasoning behind that).

That said, for transparency we publish a third-party-verified Myfxbook real account for one USDJPY trend EA. But the point is not "it has a live record, so buy it" — it is that an independent record lets you confirm the backtest numbers are reproduced in live trading. A live record complements the other checks; it does not replace them.

Summary

• "Has a record" and "the record is trustworthy" are different.
• Check: (1) not a demo, (2) long enough period, (3) drawdown and trading style, (4) not cherry-picked, (5) third-party verified.
• A live record is not a cure-all — read it together with trade count, period, PF and equity DD.
• Only a record where a third party verifies the trades directly stands apart from self-reporting.

Related: Equity drawdown vs balance drawdown · Backtest profitable but losing live · How to spot scam EAs and hype