The Pepperstone, a leading Australian retail Forex broker, offers the MirrorTrader service provided by financial trading technology provider Tradency. The MirrorTrader service comes with automatic execution of unique algo-strategies that will greatly enhance Pepperstone’s offering for its clients.
Tradency’s MirrorTrader technology that was traditionally available only to institutional traders is now made available for retail clients. The MirrorTrading platform uses Tradency servers in order keep track of buy an sell signals coming from strategy developers.
Beginner traders can get access, analyze and evaluate signals sent by experienced and knowledgeable traders by using the MirrorTrader platform. This way, they learn fast the secrets of investment and trading. The beginner traders can also choose to execute in their own account these signals.
CEO (APAC) of Pepperstone Phil Horner said that MirrorTrader could revolutionise the industry by offering traders lower spreads, better service and faster execution. He added that the partnership with Tradency will bring innovative way for Pepperstone’s clients and help expand the client experience.
In fact, it is not possible to sign up for Mirror Trader direct via the Tradency website, as the company is just a pure technology provider that develops trading platforms for online brokers. Therefore, you’ll need to sign up with Pepperstone in order to get access to the Mirror Trader platform.
Once you get access to Tradency’s Mirror Trader platform you will be able to use trading and charting tools allowing insights and analysis of the currency pairs. You will be able to manually open buy and sell positions based on the signals provided by these tools that are using various oscillators.
You can also evaluate the “Sentiments” for each currency pair. This is a useful indicator that tells you what percent of other MirrorTrader platform users are in Buy or Sell positions.
Additionally, MirrorTrader also provides access to the strategies used by other experimented traders. All these signals are shown in real-time via the Live Signals screen. You can copy these signals and make your own trades in what’s called semi-automatic mirroring.
You can also choose automatic mirroring by selecting and adding strategies to your portfolio. These strategies will be automatically executed in your trading account by the MirrorTrader platform.
The MirrorTrader’s real “value add” consists, in fact, in these strategies that you can copy. You can choose from a wide range of more than 300 trading strategies. In order to be accepted, a strategy is tested in the system for a minimum of 30 trades and over a period of at least one month.
The strategy providers are also interviewed by Tradency in case that their strategy meets the system’s required performance standards. This selection process ensures that all the strategies provided are reliable and solid.
Users of the MirrorTrader platform have also access to a variety of filters that can be applied in order to find the right strategy for them, matching their risk profile. Tradency is a totally transparent system, giving access for each strategy to all the historical and current trades.
This Forex trading platform comes with many advantages. Users have full control and they can close and open trades at any time from MirrorTrader interface. Risk can be managed separately for each strategy copied. We greatly recommend you to try out the Forex auto trading platform Tradency MirrorTrader provided by the Pepperstone Australian broker.