How to Get a Forex Statement?

Steps to Obtain a Forex Statement

A Forex statement is a comprehensive report containing all executed trades within a trading account, including essential details such as entry and exit times, profit and loss, trade volume, and other key metrics. This report is highly valuable for assessing performance, managing capital, and presenting trading results to investors or brokerage firms.

Getting a Forex Statement from Meta Trader 4 and 5 (MT4 / MT5)

The MetaTrader platform is one of the most popular trading tools in the forex market, providing a comprehensive report of trading history. This report includes details such as entry and exit times, profit and loss, trade volume, and other key metrics that help traders analyze their performance and optimize their trading strategies.

1. Accessing Trading History in Meta Trader

First, log into your Meta Trader account. Then, from the main menu, go to the "Terminal" section in MT4 or "Toolbox" in MT5. Once the section is open, select the "Account History" tab. This section will display all transactions made in your trading account.

2. Setting the Desired Time Period

To view and obtain a trading report, you need to select the desired time period. In the "Account History" section, right click on an empty space and choose one of the following options:

"Last 3 Months" (Displays trading history for the last three months)

"Last Month" (Displays trading history for the last month)

"All History" (Displays the entire trading history from the start of the account)

"Custom Period" (Allows the user to set a specific time frame)

If you need a statement for a specific period, select "Custom Period" and set the desired start and end dates.

3. Extracting and Saving the Statement

After selecting the time period, follow these steps to save the statement:

In the "Account History" window, right-click on an empty space.

Select "Save as Report" or "Save as Detailed Report".

The report will be saved in HTML format on your system.

4. Viewing and Analyzing the Saved Statement

The obtained file contains a detailed summary of your trades. To view the report:

Double-click on the HTML file to open it in a web browser.

The report includes profit and loss details, average trade volume, win rate, total number of trades, and drawdown statistics.

Key Considerations When Obtaining a Statement from MetaTrader

If you intend to present the statement to investors or brokers, it is recommended to select "Save as Detailed Report", as this version includes more in-depth analytics, account balance charts, and key performance indicators (KPIs).
Some brokers may store statement information on their servers, so if your report appears incomplete, contact your broker for assistance in accessing a full report.
If you need the statement in other formats such as PDF or CSV, you can open the HTML file and use the Print option in your browser to change the output format.

Using Myfxbook for a Professional Trading Statement

One of the most reliable ways to get a detailed and verified trading statement is by using Myfxbook. This platform is an independent analytical service that allows traders to connect their trading accounts and obtain a credible and verifiable performance report.

1. Creating an Account on Myfxbook

First, visit Myfxbook.com and create a user account. This process requires entering an email address, choosing a username, and verifying the account via email.

2. Connecting a Trading Account to Myfxbook

After signing up, log into your Myfxbook account and navigate to "Add Account" in the settings section. At this stage, you need to connect your trading account to Myfxbook. There are two methods for this:

Via the MetaTrader Plugin (MT4 / MT5): By installing the Myfxbook plugin in MetaTrader, all your trades will be automatically sent to the platform.

Via Broker API: Some brokers allow direct account connection to Myfxbook via API, which provides higher security and eliminates the need for a third-party plugin.

3. Verifying and Synchronizing Data

Once the account is connected, Myfxbook automatically retrieves and analyzes all trades. In this section, you can view charts, trading statistics, profit and loss data, drawdown percentage, win rate, and other key performance indicators (KPIs).

Benefits of Using Myfxbook for Statements

Myfxbook reports are widely trusted by investors and financial institutions due to direct synchronization with trading accounts and data transparency. As a result, traders who aim to attract investors or present their performance to financial institutions can use this platform as a reliable verification tool.
Additionally, with access to detailed reports, advanced filters, and the ability to compare performance with other traders, users can refine their trading strategies and make more informed trading decisions.

Getting a Statement from a Broker

Many reputable forex brokers provide the option to obtain a trading statement directly through the client portal. To do this, first, log into your trading account on the broker's website. Once logged in, navigate to the "Reports" or "Statements" section. In this section, you can select your desired time frame for the trading report.
After specifying the time period, choose the download option and receive the statement in PDF, CSV, or Excel format. This method is an ideal solution for traders who need an official report from their broker. Additionally, some brokers offer customizable statements, providing extra details such as drawdown percentage, average trade volume, and win rate statistics.
If you plan to present the report to investors or financial institutions, it is recommended that you first contact the broker’s support team to obtain information about the report format and the level of detail included.

Forex Statement Terminology

A Forex statement is a comprehensive report on the performance of a trading account, including information such as profit and loss, risk level, number of trades, and drawdown. Understanding these terms helps traders and investors gain better insights into the efficiency of trading strategies and capital management.

1. Balance

The total amount of money in the trading account, excluding open trades. This value updates only after trades are closed.

2. Equity

The total account value, which includes the balance plus the profit or loss of open trades. This amount fluctuates in real-time and provides an accurate measure of the account’s current value.

3. Margin

The amount of capital required by the broker to open a new trade. The margin amount depends on the trade size and leverage.

4. Free Margin

The available capital left in the account after deducting the used margin. If this value drops too low, the trader may be unable to open new positions.

5. Margin Level

This is calculated using the formula (Equity / Margin Used) × 100%. If the margin level falls below 100%, the trader will receive a Margin Call warning.

6. Drawdown

The maximum decline in account balance from its highest point to its lowest point during a trading period. Professional traders aim to minimize drawdown, as a high drawdown indicates excessive risk.

7. Profit & Loss

This metric shows the total profit or loss a trader has accumulated over a specific period. It includes the net sum of all closed trades.

8. Win Rate

The percentage of trades that have been closed with a profit. A high win rate is important, but it should be analyzed alongside the Risk/Reward Ratio for a clearer performance assessment.

9. Risk/Reward Ratio

This metric represents the average profit per trade compared to the average loss per trade. If this ratio is greater than 1, it indicates that the trader’s average profits exceed their losses, reflecting a profitable trading strategy.

10. Expected Payoff

This shows the average profit or loss per trade. A positive value indicates a profitable strategy, while a negative value suggests a losing strategy.

11. Maximum Consecutive Wins/Losses

The highest number of consecutive winning or losing trades. This metric helps evaluate the stability of a trading strategy.

12. Lots

The total trading volume recorded in the statement. Typically, 1 lot equals 100,000 units of the base currency, but traders can also use mini lots (0.1) and micro lots (0.01).

13. Trading Period

The duration during which the trading account has been active and trading has occurred. Longer periods provide more reliable performance results.

14. Average Holding Time

This metric indicates the average duration a trade remains open. It can reflect the trader’s style—shorter times for scalpers and longer durations for swing traders.

15. Commission

The transaction fee that brokers charge for executing each trade. ECN accounts typically have commissions, whereas standard accounts include costs within the spread.

16. Swap

An overnight fee (swap) applied when a trade remains open past the end of the trading day. In Islamic accounts, this fee is removed.

17. Spread

The difference between the bid (selling price) and ask (buying price). It is one of the main trading costs in forex. Lower spreads reduce trading costs.

18. Account Growth

This metric shows how much the account balance has increased over a given period. Investors often analyze this figure to identify traders with stable and sustainable growth.

Characteristics of a Reliable Forex Statement

A trading statement is one of the most important tools that investors and financial institutions use to evaluate a trader’s performance. A reliable statement should provide comprehensive information on profitability, risk levels, number of trades, and capital management to build investor confidence. In this article, we will examine the key characteristics of a standard and credible trading statement.

Profit and Loss

One of the first metrics analyzed in a statement is the total profit or loss over a specific period. This indicator reflects how well a trader has managed capital and profitability. A reliable statement should clearly differentiate between gross profit, net profit, and potential losses.

Number of Trades Executed

One of the critical factors in analyzing a trader’s performance is the total number of trades executed during the period. Traders who maintain a reasonable number of trades typically have a more stable and controlled trading strategy.

Win Rate

The win rate indicates the percentage of trades that were closed profitably. This metric helps investors assess how successfully a trader predicts market trends. However, while a high win rate is important, it should be analyzed alongside other indicators such as the risk/reward ratio and drawdown levels.

Maximum Drawdown

One of the most crucial metrics in a reliable trading statement is the maximum drawdown. This measure indicates the largest capital decline over a trading period. Professional traders strive to minimize drawdowns, as high drawdowns indicate excessive risk and the possibility of significant account depletion.

Risk/Reward Ratio

One of the key criteria in analyzing a statement is the Risk/Reward Ratio. This metric shows how much profit a trader earns per unit of risk taken. Traders who maintain a Risk/Reward Ratio above 1 are generally more successful in the long term, and their trading strategies tend to be more sustainable.

Average Monthly Return

Investors typically look for traders with consistent and sustainable profitability. The average monthly return metric indicates how much profit a trader earns on average each month. This indicator is crucial since consistency in profitability is the most important factor in attracting investors.

How to Optimize Your Trading Statement?

Reduce Drawdown

Lowering your drawdown levels will help gain the trust of more investors by demonstrating better risk management.

Implement Professional Risk Management

Using stop-loss orders and effective capital management will significantly improve trading performance and reduce unnecessary losses.

Ensure Consistent Profitability

Sustained and steady profitability is the most attractive feature of a trading statement for investors and financial institutions.

Execute Logical and Low-Risk Trades

Entering and exiting trades without a structured plan can cause instability in your trading statement and negatively impact long-term performance.

How to Read a Forex Statement

A Forex statement is a comprehensive report on trading performance that includes key information such as profit and loss, number of trades, win rate, risk level, and drawdown. Properly understanding this report helps traders and investors make more informed decisions. This guide explains how to read and analyze a Forex statement.

Reviewing General Account Information

At the beginning of the statement, details such as account name, account number, broker type, trading platform (MT4/MT5), initial deposit amount, and trading start date are displayed. This section helps confirm that the report corresponds to the correct account.

Analyzing Profit and Loss

One of the most important sections in the statement is the Profit & Loss section, which shows how much profit or loss the trader has made over a specific period. This part includes gross profit, net profit, potential losses, and final profit after deducting commissions and spreads.

Reviewing the Number of Trades and Win Rate

This section displays how many trades have been executed in the account and the percentage of profitable trades. If the win rate is high but the overall profit is low, it may indicate that the trader has taken larger risks on losing trades.

Analyzing Drawdown

Drawdown represents the maximum reduction in account balance over a trading period. This metric indicates the level of risk in the account. A high drawdown suggests that the trader has suffered significant losses during certain market conditions.

Risk/Reward Ratio

This metric shows how much profit the trader makes per unit of risk taken. If the ratio is greater than 1, it means that profits from trades exceed losses, making the trading strategy efficient.

Average Monthly Return

This section indicates how much profit the trader earns on average per month. Consistent and sustainable returns are one of the most important indicators of a successful trader.

Analyzing Trade History

This section includes a list of all executed trades, along with details such as entry and exit times, trade volume, asset type, entry and exit prices, profit and loss per trade, and order type (market, limit, stop, etc.). Reviewing this section helps understand the trader's trading pattern and behavior under different market conditions.

Forex Statement Analysis

Forex statement analysis goes beyond merely reading numbers; its purpose is to gain deeper insight into the trader’s mindset, strategy, and risk management. This process serves as a tool for understanding the discipline or lack thereof behind the recorded profits and losses.

The Relationship Between Win Rate, Profit to Loss Ratio, and Drawdown

One of the core aspects of analysis involves simultaneously examining the win rate, profit-to-loss ratio, and drawdown level. A logical alignment among these three elements can reveal whether profitability stems from consistent skill or from taking volatile, high-risk trades.

Assessing the Quality of Profitability Across Time Periods

The analyst must determine how profits have been generated whether through a few high-gain trades or through a steady stream of smaller, consistent gains. Generally, stable and dispersed profitability carries more credibility than large profits achieved from isolated trades.

Reviewing Trade History and Trading Discipline

Analyzing the details of trade entries and exits, adherence to stop-loss rules, the use of rational risk/reward ratios, and the type of orders placed (market or limit) can reveal whether the trader follows a defined and disciplined strategy.

Trader’s Reaction to Consecutive Losses

A crucial part of statement analysis involves observing how the trader responds to losses. Reducing trade size, increasing the time between positions, and reassessing market conditions after losing streaks are signs of emotional control and rational decision-making.

Drawdown and Equity Curve Charts

To properly assess trading behavior, reviewing drawdown and equity curve charts is essential. These visuals clearly show the points at which the trader deviated from or returned to disciplined trading practices.

Conclusion: The Statement as a Diagnostic Tool

Ultimately, analyzing a forex statement is not just about examining the past it’s a powerful tool for shaping the future. It helps traders reflect on their own performance and allows investors to make informed, data backed decisions.