Mirror Trader Review

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Compare Mirror Trader Brokers

For our mirror trader comparison, we found 2 brokers that are suitable and accept traders from Russian Federation.

We found 2 broker accounts (out of 147) that are suitable for Mirror Trader.

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About XTB

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

75% of retail investor accounts lose money when trading CFDs with this provider.

Read our in-depth XTB review

AvaTrade

Spreads From

What can you trade?

  • Forex
  • Crypto currencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About AvaTrade

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

71% of retail investor accounts lose money when trading CFDs with this provider.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

Mirror Trader Review

Mirror Trader is a trading platform that is designed and owned by Tradency Inc. Tradency lays claim to being the innovator of mirror trading, or social trading as the activity is known today. Tradency’s mirror trading service was developed in 2005, and their core offering is Mirror Trader, Tradency’s innovative retail trading platform. Using Mirror Trader, retail traders are able to match the trading insight that had to date been the exclusive preserve of experienced and institutional traders.

Mirror Trader – Platform View

Mirror trading allows individuals to have accounts that mirror the accounts of experienced traders, by replicating the same trades taken by them. To be able to make this a seamless process, Tradency created the Mirror Trader.

Using Mirror Trader, “buy” and “sell” signals from Strategy Developers are tracked by Tradency’s servers and copied to the accounts of the traders who follow them. The Mirror Trader platform enables new traders to visualise, analyse and evaluate trading signals sent by these experienced traders.

It is possible for anyone from around the world to become a Strategy Developer and share trading experience and knowledge with new users on the Mirror Trader platform. All trades of Strategy Developers are recorded and can be evaluated by new traders, allowing them to decide which experienced traders to follow. To be able to do this properly, an understanding of Mirror Trader for the forex market is essential.

Forex Mirror Trader: The Interface

Mirror Trader is a browser-based platform with an interface which supports automated strategies as well as manual trading strategies. The interface allows quick and easy account opening and activation, and seamless integration of the client account with Strategy Developers’ active portfolios. The platform also displays comprehensive strategy performance data and account status parameters. The Mirror Trader platform tops this off by providing tools that enhance a trader’s ability to evaluate and therefore select which accounts to follow.

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  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

Mirror Trader – Add a Strategy

Mirror Trader Basic Features

Here are the basic features that traders who use Mirror Trader will encounter in their daily trading activity.

1. Live Charts for all currency pairs: Choose between charts for different currency pairs. It is also possible to select different time frames, and zoom in or out. Various indicators are available for technical analysis. Also, line, bar and candlestick charts are available.

2. Strategies Filters: This is where the trader can select strategies, place strategies on the watchlist, and monitor performance of strategy providers. Set custom filters to identify suitable traders using a specific criteria.

3. Strategies Performance: Get a detailed performance summary for all strategies on the watchlist.

4. T-Score: Use the T-Score to evaluate the risk, momentum and stability of a strategy on a scale from 1 to 10.

5. Watch List: The watch list is a tool providing quick access to pre-selected strategies. Strategies may be followed before added in a trading portfolio.

6. Risk Management: Control risk using Mirror Trader’s risk management tools such as the Automatic Stop.

7. Exposure Meter: The Exposure Meter shows the leverage of the portfolio’s maximum positions. This measures risk exposure on a scale of 0 to 100, with >80 being the red alert level.

Selecting Strategies

A trader’s use of the Mirror Trader starts with the section of strategies. The “Strategies” section is where the trader can access the database of strategies from developers worldwide.

Developers send their “buy” and “sell” signals to the Tradency servers using Mirror Trader. The strategies are recorded and stored in a database, and traders can then use the Smart Filter function to search, add, and use the chosen strategies.

The “Smart Filter” is the tool that new traders use to locate the perfect strategies for their accounts. The smart filter is designed to enable the using to find a choice of strategies using two parameters:

  • start account balance
  • trade size

The trader selects the time frame that will be used for trading. Smart filter will dig into the data of trade strategies available for the selected time frame. The Smart Filter will then calculate the performance data for all strategies for the selected time frame, and present only the strategies that match their preferences.

Performance of each strategy is presented in tabular and graphical format.

  • To view a strategy’s performance curve in graphical format, click on the “Curve” tab.
  • It is also possible to add a strategy to a “Portfolio”. To do this, select it by clicking on the graph or by clicking the “Plus” tab.
  • To add strategies to the “Watch List”, click on the “Star” icon.

Mirror Trader – Live Signals

A pop-up will appear on the screen. Select the trade size for the opening strategy. Click on the Add button to complete the action. Add more strategies by repeating the process.

The “Watch List” allows a user to save selected strategies that are of interest for easier access much later. So rather than having to scan through hundreds of strategies looking for that one strategy which caught attention previously, the “Watch List” can be used to follow up on the performance of a strategy before it is added to the portfolio.

The performance of strategies is presented in graphs and tables to enable the trader to get the information at a glance.

  • Click on “Curve” to view the curve of the strategy.
  • To add a strategy to the portfolio, select it by clicking on the graph or by clicking on the “Plus” tab.
  • Customise how to view the table with the “Add/Remove Columns” tab. This then displays only the chosen table preferences.

Viewing and Controlling Open Positions

There are several things that can be done when viewing and controlling positions. One of such is viewing and amending open positions. Click on the “Open Positions” tab to view all open positions entry orders in the trading account.

Mirror Trader – Open Positions

  • Close an open position using the CLOSE POSITION icon. Click on the position to close it. A dialogue box pops up, and there it is possible to click the Close Position icon to exit an open trade.
  • Initiate manual trading by clicking the Currency Rates at the top of the platform.
  • Increase or reduce the size of the Open Positions area by using the computer mouse to pull on the upper border of this area.
  • Modify the Stop Loss and Take Profit prices when the position is open. The Stop Loss distance can only be reduced from the entry price, and the Take Profit distance can only be increased from the entry price.

Showcase the history of ended trades on the account (i.e. the closed positions) by clicking on the Closed Positions tab. If a position copied from a strategy provider is closed manually, and the strategy provider’s position that was copied is still open, the “Close Position” order will be fulfilled.

Why Choose XTB
For Mirror Trader?

XTB scored best in our review of the top brokers for mirror trader, which takes into account 120+ factors across eight categories. Here are some areas where XTB scored highly in:

  • 16+ years in business
  • Offers 1,500+ instruments
  • A range of platform inc. MT4, Mirror Trader, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.20pips
  • Used by 230,000+ traders.
  • Offers demo account
  • 3 languages

XTB offers three ways to tradeForex, CFDs, Social Trading. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

XTB have a AAA trust score. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 16

Trust Score comparison

XTB AvaTrade
Trust Score AAA AAA
Established in 2002 2006
Regulated by Financial Conduct Authority Central Bank of Ireland, ASIC, IIROC, FSA, FSB, UAE and BVI
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of XTB vs. AvaTrade

Want to see how XTB stacks up against AvaTrade? We’ve compared their spreads, features, and key information below.

Mirror Trader Review – Scam Software or Legit? Find Out!!

In today’s article, we are going to share Mirror Trader review which is one of the recently launched trading system. The concept of this binary options is really apealing, but friends it is a SCAM. We recommend you to read this review before taking any step or making any investment in Mirror Trader Software.

The entirely new trading scam is promoted by shady email spammers and is full of lies. John Harrison is the name of unknown person who called himself CEO of this FAKE software. We have checked about Mirror Trader on the internet and found lots negative reviews about it from the users. On the basis of these review we decided to do a deep research about Mirror trader and observed that it is SCAM. Even we manage to gather some proofs which are sufficient to declare Mirror Trader a SCAM.

In upcoming paragraphs, you will read about everything you need to know about Mirror Trader which includes What is Mirror Trader System? Who Created it? And why we are calling Mirror Trader a SCAM?

So without further delay why don’t you start reading Mirror Trader review.

What is Mirror Trader Software?

Mirror Trader is a recently launched Binary Options Auto trader created by unknown John Harrison who also call himself CEO of this bogus software. John Harrison in the pitch video shared that using this software you can earn you $14589 in just one day. He also mentioned that, from last three months lots of users has been using the Mirror trader app and all of them are adding an average income of $14500 into their bank account.

Indirectly John Harrison wants to say that all these users who are using Mirror Trader are millionaires and you can also become one out of them. He also claims that Mirror Trader is 100% risk-free.

According to John Harrison, the software is very easy to use and users who don’t have much knowledge about trading can use this trading software to earn a profit. He also mentioned that lots of users have already earned lots of money in last three months and now they want 50 more users. The 29 users has already joined Mirror trader and now they are looking for remainaing 21.

So if you’re wondering to be the one out of those 21 users, then please change your mind as Mirror Trader is a SCAM. The reason why we calling this trading software a SCAM is because of the proofs which we obtained while doind a deep research. So why don’t you check all of them:

Mirror Trader Review Points – Why It is a Scam?

John Harrison is a Fake CEO

We already know that John Harrison is a FAKE CEO and the reason why we calling him FAKE is because of PUSH Money App. If you’re checking reviews on our site regularly, then you definitely know that few days back we have exposed a fake trading app called PUSH MONEY APP. In the pitch video of that application, this fake John Harrison was showing people how quickly they helping users in earning money.

We have already proved Push Money App as a SCAM trading software, then how we can believe Mirror Trader a genuine trading software? We also tried to find about him on the internet and found nothing which clearly confirm that Mirror Trader is a SCAM.

Website is Officially Registered Few Days Ago

In the pitch video, John Harrison mentioned that from last three months lots of users averagly earning $14000 a day. But when we checked the whois details of Mirror Trader official website. We found that the website was registered on 26 June 2020, only a week ago. If the official website was available for users 6-7 days ago, then from where these these users were earning $14000 from last three months. Also how they got their 29 members who already started using a Mirror Trader.

Now this also confirms that Mirror Trader is a FAKE Trading software.

High Speed Data Server

John Harrison shared that the reason why Mirror Trader can help you in earning $14000 in a day is the super-fast data servers between his system and markets that find out quickly whether you will Win or Lose the trade. Now the reason which he is giving is not genuine because there is no role of these technologies in the binary option.

This much amount is not possible in a Single Day

We all know that earning this much profit using Binary options in just one day is impossible. We have already reviwed lots of trading softwares or application in our previous article and none of them assure you this much amount. So on the basis of our past experience, we can give you gurantee that they using this statement just to get the attention of the users. So that more and more users create an account on Mirror Trader.

Fake Testimonial and Endorsement

We have check the whole internet and found only one place who is endorsing Mirror Trader is its official website. The popular trading sites and forums are full of negative reviews for Mirror Traders.

If you scroll down on the website, you will found out users who already earned great amount using Mirror Trader. In the list you will found Alice Smith and Timeo Cote. We know both of them very well because both of them are paid actors and already provided their fake testimonials for other SCAM software like Cloud Trader, 98Success, and Profit Maker.

Fake Stat Counter

On the website, you will see a counter that showing you the live status of trades. Unfortunately, it is completely fabricated and added to the site just to gain the faith of the users visit the site.

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Our Opinion

Mirror Trader has Fake CEO, Fake testimonial provider, even some popular websites are calling it SCAM too, then there is no point in beleiving it. We have also provided you sufficient proofs that are enough to call it a SCAM. So we recommend all our readers to stay away from.

In case you think that our review is not genuine, then you’re free to invest in Mirror Trader, but we are sure that you will defintely lose your money.

What your think about Mirror Trader System let us know in the comments.

Mirror Trader Scam Review

Mirror Trader is a new software offering innovative ways of controlling your Forex investments. But does Mirror Trader really give you the best trading possibilities or it is just another Forex scam?

There was not enough information to make an informed decision about this system in order to rate them as a scam or a legit one.

We recommend you to OR find a Reliable Robot to trade with form the table below:

Table of Contents

Top Forex Robots

Mirror Trader – Another Scam Released?

All the newly launched and fresh Forex online trading solutions do everything in their power to provoke people’s interest and make them their users. This is due to the fact treading Forex is extremely profitable and easy income-generating process and many people know that.

Therefore, the market for such trading type is rapidly expanding its borders and more and more traders are becoming some auto-trading system’s users in order to be successful investors. However, the risk is seriously high because scam Forex trading systems are more than legit ones, so it is easy for someone to be lied and robbed. So, in this review, the investigation object is going to be one recent automated trading robot, claiming to be extremely powerful and profitable – Mirror Trader, created by John Harrison, who is also CEO of the company and the product.

Is Mirror Trader Scam Or Reliable Trading Robot?

Based on all the conclusions we were able to make while inspecting the characteristics of this Forex trading solution, we cannot say for sure that it is a scam. However, at least for now, we do not recommend it to online traders because there is a really big chance for scam factor to be discovered. In addition, there are no real users’ feedback and positive testimonials that to confirm the proper work of the auto-trading platform. On the contrary, the little available information about the system, that we found in the Internet space, consists of complaints and doubts, regarding this Forex robot’s legitimacy.

This new and allegedly reliable Forex trading system is created by a man called John Harrison. He is actually the presenter of the software, and he claims to be a former military official, who then became an IT employee, whose job was to install office computer networks for large banking companies.

Mr. Harrison’s work was centered entirely around Wall Street in New York, Washington and Chicago. With the increasing technological progress over the last couple of years the CEO of Mirror Trader was able to find out that the most important thing, granting profitable Forex trading process is live raw data access and stream speed of this data in order for it to be analyzed. As a result he created the Mirror Trader auto-trading platform.

How Does Mirror Trader Work?

The Forex online trading system is claimed to be the most powerful auto-trading software in the world, offering profitable investment process to absolute newbies, due to the fact it handles the whole process and monitors the ending result, by providing 100 % risk-free trading experience to the users.

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The software is stated to be based on a super fast technology, which is basically an improved OC3 connection, called OC192 connection. This new achieved speed is said to gather accurate and current market data extremely fast, thus enabling the auto-trading software to place all winning trades. This sounds really interesting, but sadly nobody is able to confirm the profitability and the reliability of the statements mentioned herein above. They remain just promises with no solid ground to support their authenticity.

Final Thoughts

As for now, we cannot state a final verdict, concerning the scam/legit origin of the Mirror Trader Forex trading software. However, we would suggest users to find a really reliable, solid and trustworthy partner for achieving their income-increasing goals. We do not think that Mirror Trader is going to deliver satisfying trading results in terms of generated profits. So, avoid dealing with it, and continue to safety.

Conclusion:

Our investigation team conducted a comprehensive investigation on Mirror Trader to find out if this product is genuine. As a result we cannot say that there was enough evidence indicating if Mirror Trader is generating high profits. We found many reasons that made us suspicious about this robot being a scam.

In order to protect traders from bad trading experience and financial loses we recommend you to

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

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