Forex is not an easy trade and you, of course, need a certain amount of background knowledge to successfully trade. However, the beauty of the trade is that you can start easy and from the comfort of your home. If you are an enthusiast or just need to upgrade your knowledge before trading more seriously, besides educational materials and demo account there’s always quality input from more experienced traders. This is probably the main reason for the rise of social, copy trading and mirror trading. The platforms allow you to actively engage with the market, investing the money following the steps of already developed and successful traders.
Mirror Trader Trading Platform
Mirror Trader is a trading platform by Tradency, with a 10-year experience put into it. Developing a user-friendly and easy to use trading platform which is sophisticated and refined, Tradency hit the jackpot becoming one of the best-known social trading platforms. Mirroring trades with Tradency Mirror Trader is an easy process done with just a couple of clicks, and more recently taps. With real-time signals and many tools to actually evaluate them in the current market conditions, Mirror Trader opens great opportunities. Thus, Mirror Trader is not just an automated trading system but rather allows comprehensive trading with the trader deciding what’s best. Through an intuitive interface, traders are allowed to take signals, mirror whole trades including opening and closing them or just pick when to close it themselves, or just follow experienced traders and make manual trades. Mirror Trader also provides analysis tools to help decide winning strategies and work through the signal providers at your own pace. Mirror Trader also charges a fixed fee for using the web-based and mobile app platform, which is rather straightforward and thus appealing to users worldwide.
Mirror Trader Features
There is a range of trading methods available with Mirror Trader. Of course, the best-known is the automatic trading, which allows you to add signal providers to your portfolio and automatically mirror all the trades they make to your Forex account. With semi-automatic mirror trading, you are allowed to see the signals from the selected signal providers and actually decide which ones to follow in real time. This is supported with many built-in charts providing insight into all major indicators and possibilities to monitor and alter your strategies through detailed strategy summaries. Manual trading will allow you to execute trades on your own, just as you would with any Forex trading platform, with access to trading signals by filtering and employing appropriate strategies for your style and current market conditions.
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The Best Mirror Trader Forex Brokers
AvaTrade is an advanced Forex broker founded in 2006 in the British Virgin Islands with headquarters in Dublin, Ireland and with executive offices in Australia, Italy, Japan, France, China, and Mongolia. The broker is authorized with all the regulatory bodies in these countries and operates under strict regulation. AvaTrade thus offers safety and security in a high-quality trading experience with unique and well-developed features. The broker offers a wide range of assets to trade as well as educational materials and analysis tools, together with a fully-operational demo account to check out the features and start trading. With over 200 currency pairs in the offer, AvaTrade provides different trading platforms including MetaTrader, propriety AvaTrader as well as allowing automated trades and signaling service through Mirror Trader.
FXCM was founded in 1999 and is one of the long-standing US based Forex brokers. With executive offices in 15 cities around the globe, FXCM employs more than 800 people and provides a quality service to traders through a number of different trading platforms including MetaTrader4, FXCM Active Trader as well as Mirror Trader and other auto trading systems. Wide a wide offer of currency pairs, floating spreads, and high liquidity, FXCM is a reliable broker known for the execution as well as customer care. The customer support includes a phone line, e-mail, fax as well as an online live chat service. Trading with FXCM is a well-rounded service and an overall good experience. FXCM is also known for not running promotions and while some mind this, other traders will argue bonuses are turning trading into a casino with big turnovers needed to withdraw funds and other arising issues.
FXDirectDealer is a US Forex broker founded in 2002 in New York. The broker has always offered an innovative approach to trading and it’s well known for the customer care it provides. The customer support is offered in 13 languages with dedicated agents for every account holder. FXDD offers 32 currency pairs including all major US Dollar pairs, providing access to the market through more than 5 different trading platforms, including Mirror Trader, MetaTrader 4 and their own FXDD Swordfish.
Mirror Trader is a very popular social and copy trading platform where many novice Forex traders have started their trading journey. While there are many propriety copy trading platforms developed by brokers, Mirror Trader still takes a prominent spot and many premium brokers offer the platform as one of the options to access the market. The platform offers many unique tools to execute and analyze trades, enabling all traders to follow successful traders and start employing proper trading as well as money and risk management strategies. With Mirror Trader, it’s easy to sort and choose the best signal providers and act on them through automated or manual execution.