How to Analyse an MT4/MT5 Account Statement (Free Analyzer)

Short answer: export the full history from MT4 (Account History → right-click → Save as Detailed Report) or MT5 (Toolbox → History → right-click → Report), then read maximum drawdown before net profit. The free CopyConnectFX statement analyzer turns the file into profit factor, expectancy, drawdown, streaks and a balance curve — and parses it in your browser, so the report never leaves your computer.

MetaTrader will happily hand you a report. What it will not do is tell you which of its numbers to distrust. This guide covers both.

Exporting the statement

MetaTrader 4

1. Open the Terminal window (Ctrl+T) and click Account History.
2. Right-click inside it and choose All History — otherwise you only export the visible period.
3. Right-click again and choose Save as Detailed Report.

MetaTrader 5

1. Open the Toolbox (Ctrl+T) and click the History tab.
2. Right-click, set the period to All history.
3. Right-click again → Report → HTML or XLSX.

The detailed report is the one you want — the plain report omits per-trade rows, and per-trade rows are where all the useful analysis lives.

What MetaTrader's own summary gets wrong

Three things to be aware of before you trust the built-in totals:

• Deposits are counted as profit on some builds. A $5,000 deposit can appear in the same column as trading results, turning a losing account into a "profitable" one. Balance operations have to be excluded before any metric is calculated.
• Drawdown is balance-based. MetaTrader's relative drawdown is measured on closed-trade balance, so a position that went 30% against you before recovering to breakeven contributes nothing. Equity drawdown is the number that tells you what you actually lived through.
• Open trades sit in a separate section. In MT4's report, floating positions appear under "Open Trades" with a single timestamp column. Read carelessly, they get counted as closed trades and inflate the record with unrealised profit.

That last one is worth stating plainly because it is the most common way a track record is accidentally overstated: an account showing +40% where a third of it is one large open position that has not been closed yet.

The numbers to read, in order

1. Maximum drawdown

The largest peak-to-trough fall in equity, as a percentage. This is the first number because it sets the ceiling on how large you can trade the strategy. A 35% drawdown means a 3× size increase would have produced a margin call.

2. Profit factor

Gross profit ÷ gross loss. Above 1.0 is profitable; 1.3–1.7 is a normal range for a working discretionary strategy. Anything above 3.0 on a small sample usually means either a very short history or a strategy that has not met its bad market yet.

3. Expectancy

Average profit per trade, in money or R. This is the number that scales: expectancy × trades per month is your realistic monthly expectation, and it makes a 45%-win-rate system directly comparable with an 80%-win-rate one.

4. Worst trade and longest losing streak

These two answer "how bad does it get". A worst trade far larger than the average loss means stops are being widened or ignored. A long losing streak tells you the psychological load the strategy demands — and the account size it needs to survive.

5. The balance curve shape

A curve that climbs in a straight line and then falls off a cliff is the classic signature of a strategy that averages down or holds losers. Steady, jagged growth is less impressive and much more repeatable.

Our guide to what each trading metric actually means goes deeper on the definitions; this post is about getting them out of your own file.

Breakdowns that change decisions

Totals describe. Breakdowns tell you what to change:

• By symbol. Most accounts have one instrument quietly funding the losses on three others. Cutting the worst performer is usually the single highest-value change available.
• By hour and weekday. Session-dependent results are extremely common — a strategy that works in London and bleeds in Asia looks mediocre in aggregate and good once filtered.
• Long versus short. A large asymmetry usually means you have been trading one direction in a trending market, not that you have an edge in that direction.
• By month. One outsized month carrying a whole year is a warning, not a highlight.

Privacy: where the file goes

A MetaTrader detailed report contains your account number, your broker, and every trade you have ever made. Uploading that to an unknown server is a genuine risk, not a theoretical one.

The CopyConnectFX analyzer parses the file with JavaScript inside your own browser. Nothing is uploaded, nothing is stored, and there is no account to create. You can confirm it by opening the page, disconnecting from the internet, and analysing a file anyway — it still works.

From one-off analysis to a live record

Analysing a statement is a snapshot. If you want the same numbers kept up to date automatically — and a page you can share without handing anyone a file — that is what Verified Results does: a read-only Publisher EA uploads closed history from the terminal and keeps the analysis current, with per-figure controls over what the public page shows. You can browse accounts other traders have published to see the format before publishing your own.

Try the analyzer

Drop your MT4 or MT5 report into the free statement analyzer — no sign-up, no upload, and it separates deposits from trades and open positions from closed ones before it calculates anything.