It’s all in the name! Mirror Trading allows you to directly copy the positions taken by another trader. You decide the amount you wish to invest and simply copy everything they do automatically in real time. When that trader makes a trade, your account will make that same trade as well. You do not need to have any input on the trades, and you get the identical returns on each trade as your chosen trader. But by copying another trader, you could potentially make money based on their skills. In fact, no advanced knowledge of the financial market is required to take part.
Mirror Trading is both a product and a service. We cater to both traders and investors looking to capitalize on cryptocurrency trading. Being able to copy trades from several expert traders and also allow investors to follow one’s trades is a great service in and of itself.
We have been trading markets for many years and recently started trading cryptocurrencies with much success. We originally wanted to put together a portfolio of coins and manage everyone’s funds in one account, but we soon realized that account segregation and being in control of your funds is the only way to go, especially if we wanted to bring in outside investors. So, after looking around and finding that there was no way for anyone to copy someone else’s trades (unlike any other market), we decided to start working on this project.
There have been many challenges and obstacles to overcome, but when something is worth pursuing, you do it even if it’s hard. While the service is still being refined and improved on a daily basis, we are actively connecting traders and investors for the mutual benefit of cryptocurrency trading and investing.
The history of Mirror Trading goes back to 2005, when traders used to copy specific algorithms that were developed through automated trading. Brokers recognised the potential of having systems where anyone linked to a trader could automatically copy that trader’s account. There was no need to constantly monitor email signals or trading chat rooms. We think they were onto something. Out of this were born services that allowed traders to connect their personal trading accounts to their platform. Traders no longer had to submit their specific strategies. The popularity of Mirror Trading has since exploded.
Here is how the copier works: you, as an investor, simply select an expert or experts that you want to copy trades from. Once you’re signed up, this is the only action needed on your part. There are no codes that you need to run or signals for you to manually input. Our software will handle the trade copying automatically on your behalf. We monitor your experts’ trading activity and, as soon as there is a trade, we calculate all the necessary parameters and execute the trade. When the expert exits a position, you too will exit it automatically. The only thing you have to make sure of is that you have enough funds available in your trading account.
Who Are the Experts?
We carefully select expert applicants. We get to know them as traders and examine their trading performance over a period of time. We also tend to look for experts who already have a following to further confirm their competence through social proof. You can also read about every expert on their individual performance pages.
How Does This Work?
Here is how the copier works: you, as an investor, simply select an expert or experts that you want to copy trades from. Once you’re signed up, this is the only action needed on your part.
Once you’ve taken care of the above, you are all set. There are no codes that you need to run or signals for you to manually input. Our software will handle the trade copying automatically on your behalf. We monitor your experts’ trading activity and, as soon as there is a trade, we calculate all the necessary parameters and execute the trade.
The copier works based on trade percentage amount. For example, if your expert takes a position in XYZ coin for a total of 10% of their account value and you are 100% allocated to that expert, then the copier will also execute a trade in your account in the amount of 10% of your account value.
The only thing you have to make sure of is that you have enough available base currency that your expert trades with in your trading account. How much is enough? First, you must meet the exchange’s minimum order amount (let’s say about $10 per trade to be safe). That means that if your expert executes a 5% order, you must have at least $300 in your account total value (at 100% expert allocation as an example). This also means that you need to have at least 10% or higher in available base currency to avoid missed trades.
When the expert exits a position, you too will exit it automatically. You can also change allocation at any time.
In a need for transparency and to protect traders, the broker acts as an escrow in receiving commission percentage.