REVIEW - Mirror Trader Advantages and Disadvantages
The Mirror Trader platform is an advanced solution for Forex traders. Mirror Trader as well as any other platform allows traders to commit the transactions but the way of it is completely different. This platform allows traders to avoid excess number of news and data focusing on the main indicators. Now Forex Mirror Trading is provided by more than ten famous brokers all over the world.
The world's largest B2B technology provider for copy / mirror / social trading
Mirror Trading is the core concept behind the unique offering of the Mirror Trader, Tradency’s innovative trading platform. The Mirror Trader is the largest technology provider for brokers with over 200 brokers and two million retail clients users since 2005.
What are the recommended brokers for trading on Mirror Trader?
Alpari, FXTM, FBS, XM, FXCM
The Mirror Trading concept is quite simple: Tradency servers keep track of strategy developers’ “buy” and “sell” signals. By using the Mirror Trader platform, traders can view, analyze and evaluate signals sent by experienced traders and execute the signals in their own account.
- Trading Portfolio. The portfolio is the combination of the traders selected trading strategies for automatic mirroring. Creating an effective and balanced trading portfolio will diversify the traders' investment profile. Each trade generated by one of the trader's chosen strategies will be opened automatically in the trader's account.
- Strategies Performance. The Mirror Trader presents detailed summary of the strategies performance, helping traders making educated choices. In the strategy card traders can find in-depth information about the strategies.
- Strategies Filters. The key to successful mirroring is choosing the right strategies. The custom filters will identify suitable strategies according to the traders trading flavor and criteria.
Mirror trader review emphasizes that the platform is focusing on real-time indicators and features for technical analysis. Every trader using this software can view the trade strategies of his more experienced colleagues and copy it to get more profit. But the key difference between strategies published in Mirror Trading and strategies published in any other platform is in thorough testing of each strategy by Mirror Trader developers. So, Mirror Trading Forex allows every its user to create his own strategy based on the results of world-famous brokers.
Strategy developers from around the world share their knowledge with users of the Mirror Trader platform. It records all strategy developers’ “Buy” and “Sell” signals. This information assists Mirror Trader's users to decide which strategy’s signals they would like to have executed in their own brokerage accounts.
The platform, of course, provides trading signals tracking in a real time. Also there are tools for currency market statistics analyzing. So every broker could close any transaction with maximal profit. The spread level is as low as possible so the losses are minimal. And, finally, using the Mirror Trading software you do not need to pay anything to account managers.
Advantages for traders
Since 2005 the Mirror Trader platform has gained popularity with tens of leading financial institutions. The Mirror Trader’s popularity derives from its real, tangible value for traders. These values are validated by the understanding that the various tested and monitored strategies and the system's automation capabilities, puts the traders in a position where they can orchestrate a well-balanced collection of winning strategies.
- Winning portfolio. The traders choose from the vast amount of Mirror Trader's tested and monitored strategies and build their own team of winning strategies.
- 24/6. These strategies trade automatically 24/6. Traders can add, remove or modify money management settings to suit the users.
Reprinted from Forex Ratings, the copyright all reserved by the original author.
Edited 24 Nov 2020, 16:07
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