Exclusive: Myfxbook Co-Founder Alex Rekun Starts Marketlog, Expanding Into Stock Tracking

July 11, 2024 11:49 am

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.

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 website

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.

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.

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 website

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.

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