After three years of development, the creators of Myfxbook, one of the most popular FX/CFD online trading tools and social trading communities for retail traders, have unveiled a new portfolio tracker for over 150,000 instruments called Marketlog.
In an exclusive interview with Finance Magnates, Alex Rekun revealed that the new tool would provide automatic connections to more than 10,000 banks and brokers that investors use daily.
Myfxbook Introduces a New Product: Meet Marketlog
Marketlog's primary goal is to enable investors to track their stock portfolio and other instruments from a single location. According to Rekun, one of Myfxbooks’s Founders, the application allows users to monitor dividends and stock splits, as well as track a range of other asset classes, including ETFs, indices, bonds, options, forex, and crypto.
"The main goal is to provide a user-friendly stock portfolio tracker with an engaging and beautiful UI that is simple to use even for novice investors, yet powerful enough for professional investors as well," Rekun commented in his conversation with Finance Magnates.
Once an investor inputs information about all their instruments and positions into Marketlog, the tool updates the information in real time with live market prices, providing an instant overview of all instruments in one place.
However, Marketlog will not be connected to the existing Myfxbook platform and, as the creator admits, is a completely standalone service.
Marketlog users can choose from three different subscription plans: a free one and two paid plans that increase usage limits and add several additional features. However, Rekun notes that the free version is designed to be "more than sufficient" for beginner investors, allowing them to track up to 12 different investments and 100 transactions.
A 15-Year-Old Idea, Finally Developed
Rekun admits that the idea of creating a stock portfolio tracker first emerged in 2009 when Myfxbook was being established. At that time, he and his brother Pavel Rekun also acquired the domain Mystockbook, intended to serve as the home for another service. Ultimately, however, efforts focused on developing tools for FX/CFD traders, and the second project was postponed and eventually took on a completely different name.
"We only began planning for it a decade later," Rekun revealed. "The project officially started development in 2021 and was quietly launched just a few weeks ago, notifying only our existing client base after nearly three years of development."
When asked why the work took so long, the founder of Myfxbook and Marketlog admitted that the entire architecture was built from scratch. Along the way, they tested several different design iterations before settling on the best one.
"Additionally, unlike forex , where most investors use the same trading platform , making integration straightforward, the stock markets involve thousands of different platforms," added Rekun. "Each of these platforms requires its own data cleansing, significantly slowing down the integration process."
Marketlog is continuously being developed, with new functionalities to be introduced in the coming weeks. Currently, work is underway to launch mobile applications for both Android and iOS devices.
