Tradency’s Mirror Trader Continues To Grow in Cyprus & Japan
Tradency has just announced that it has expanded its presence in the Cyprus forex market, and has partnered with four

Tradency has just announced that it has expanded its presence in the Cyprus forex market, and has partnered with four new brokers. The brokers include Hot Forex, XEMarkets, FX Pulp, and United World Capital. With volumes lower and more competition among brokers for clients, firms are trying to differentiate themselves in what is becoming a commoditized business. Automated and social trading have been benefitting from the trend among brokers to offer more products to clients. As such, this sector has been one of the few areas exhibiting growth in 2012.
In a separate announcement, Japanese broker Invast Securities announced that it had reached 30,000 clients using Mirror Trader since its launch last year. In our interview with Invast President Takeshi Kawaji in October he explained the rationale for why Mirror Trader was succeeding with them “To put it simply, ST24’s attractive concept is “To be managers rather than players.”
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So far using traditional trading strategies, we have traded at our own discretion. It was just like a baseball player in the batter’s box, trying to get a hit or slam a home run hitting the ball being thrown by the pitcher. However, with ST24, the trader will play just like a manager of baseball team. Instead of standing in the batter’s box himself, he selects the batter to play by checking out the historical track records, examining the data of the players and selecting the starting members. If the performance is good, you can let them keep playing. If you think the fourth batter doesn’t hit well, then you can replace him. In ST24, you can operate like you are the manager of the team.”
From Tradency’s Press Release today:
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Since the conceptual change to its business model earlier this year, Tradency had successfully turned the Mirror Trader platform into a mass market product. By doing so, Tradency demonstrated record breaking growth in both business and volume. Oz Golan, Director of Sales, Tradency: “Cyprus is a very important market for us. It’s home to many leading Forex brokers we would be happy to call our customers. We are very pleased for each new broker adding Mirror Trader to their professional offering. We believe in its added value for brokers, answering to market grassroots demand for advanced mirroring tool, and at the same time maximizing their trading volume and revenues.”
Dr. Andreas Loizides, Chief Information Officer, XEMarkets: “Mirror Trader is a very popular platform among our clients, and we as a broker, aim to accommodate our clients. It’s extremely efficient with the novice trader, thanks to its user friendly features and at the same time it benefits the experienced trader as it allows them to expand and improve their trading to alternative currency pairs or other financial instruments. So at the end of the day it’s a win-win situation – our costumer are satisfied and we see a steady increase in deposits/volumes”
From Invast Securities Press Release last week:
We are pleased to inform that Mirror Trader “ST24” provided by Invast Securities Co., Ltd had 1st anniversary on November 28, 2012 and achieved the significant milestone of reaching 30,000 registered accounts on November 21, 2012. Mirror Trader “ST24” launched on November 28, 2011 and has constantly increased its accounts for a year due to the simplicity of the system by just selecting a strategy and start trading in no-taking time.
By offering the Mirror Trader “ST24” to not only to system trading users but also to novice and experienced traders, we were able to reach 30,000 accounts. We are truly thankful to all customers for their loyalty towards using the Mirror Trader “ST24” and we are committed to provide more valuable and profitable service in the future.
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seems Tradency is the frontrunner by a long way in the social trading world.
not surprised, platform is by far the best and no hefty charges
Only 3.5% of trades were conducted via retail aggregators or direct from the retail sector worldwide. That 3.5% includes both aggregators and direct retail clients. 16% were through prime brokerage. The figures make sense – if London, NY and Singapore are the largest FX centers, accounting for around 71% of all FX worldwide, then it shows how large the institutional sector is compared to the retail, with banks and trading desks among large financial organizations creating the volume. Singapore is a sleeping giant though. The Singaporean industry is very quiet, conservative and often overlooked but is quite clearly huge.
Only 3.5% of trades were conducted via retail aggregators or direct from the retail sector worldwide. That 3.5% includes both aggregators and direct retail clients. 16% were through prime brokerage. The figures make sense – if London, NY and Singapore are the largest FX centers, accounting for around 71% of all FX worldwide, then it shows how large the institutional sector is compared to the retail, with banks and trading desks among large financial organizations creating the volume. Singapore is a sleeping giant though. The Singaporean industry is very quiet, conservative and often overlooked but is quite clearly huge.
more algotrading than ‘social’ per se at this point but they should roll out social features quite soon
As Michael said we are going to roll social features soon.
However, we see social in diffident way since we are providing technology to big financial institutions and they see ‘facebook’ type of models as others doing not feasible mainly due to regulation and liquidity changes.
Lior,
what kind of social features that are aligned with these requirements do you plan on introducing? i think people would like a sneak peek 🙂
We are going to change the way people look and pick strategies. the social elements will be around our Automated strategies content and give our users more information (Social and non-social) that meet the high standards from high level financial platform.
Lior,
Lior
Cracking product, of that there’s no doubt, but could I politely suggest that you keep your site more up to date with what’s happening in the news, education and about us sections? 🙂
Thanks for the feedback Paul,
you are right and we are going to change it soon together with new site that will be dedicated to Mirror Trader product.
Lior,
I’m very interested to see how the copy-trade / mirror-trade business models compete with MetaQuotes now that MT4/5 have signal services built right into the platform (cutting out 3rd parties and brokers from that possible stream of revenue.)
EDIT: I don’t mean ‘cutting out’ entirely, just taking their service direct to the client’s platform, making it very visible and ‘present’ to the end user.
Thanks Jack, I can’t speak for others but I can speak for ourselves. We invented this technology and developed this industry for the last 7.5 years. Our service is free for the users and not required open terminal or run it in User’s computer. Moreover, we have more than 15,000 strategies and community of hundreds of experts that contribute very high quality of strategies. One of our strength points is our filtering process and we are screening every strategy in order it will suit the high quality of standard that we are providing to our customers. Our solution is the… Read more »