Tradency Inc., the creator of advanced technology for online forex trading, and FXCM LTD, one of the leading forex and CFD brokers, today announced that Tradency’s new mirror trading platform will go live tomorrow for the first time in the western world at FXCM LTD. Traders with a Forex System Selector* account at FXCM LTD will have access to a range of new features introduced to enhance trading capabilities and take the mirror trading concept to the next level.
The mirror trading technology originated by Tradency provides traders with a gateway to a wide range of qualified and backtested forex trading strategies. It allows traders to “mirror” and instantly apply these strategies that have been developed by other experienced forex traders.
The platforms launch was recently announced by Tradency and is branded on FXCM LTD as the Forex System Selector. Registered users of this account type will benefit from the new platform’s advanced tools and features, enhanced clarity, versatility, flexibility, and ease of use.
The platform’s versatility and flexibility comes in the ease with which traders can switch between strategies; open, close or modify individual trading positions; or choose to shift from mirror trading to manual trading on this one platform.
Clarity is improved with the platform’s new user-friendly graphical interface and rich graphic indicators, which have been designed to make reading and analyzing data as clear as possible. Accuracy is enhanced using the Smart Filter tool, which is designed to identify suitable strategies according to users’ specific trading criteria. Strategy cards provide performance details and updates on individual strategies to help users choose the strategies they prefer. Also, new to the platform is a strategy scoring system called “T-Score”, specially developed by Tradency. The “T-Score” analyzes each strategy’s performance, paying extra attention to the risks and rewards, and how well it adjusts to changes in the market. A high “T-Score” indicates that strategies are performing well under current market conditions.
Together these features give users clearer, more accurate and up-to-date information about the trading strategies so they can make more educated trading decisions.
Lior Nabat, President and CEO of Tradency says, “The introduction of our new platform on FXCM consolidates the partnership that Tradency has developed with FXCM LTD, which has already enjoyed three years of success. We’re delighted to see our new trading platform go live on FXCM LTD, a partner that has been enthusiastic about the benefits our technology can offer traders. FXCM LTD understands that our new trading platform represents a leap forward in forex trading technology that takes forex trading to the next level.”
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Drew Niv, CEO of FXCM LTD said, “At FXCM LTD we are always seeking ways to enhance the trading experience and product offerings by making it more versatile; and Tradency’s new platform meets our high standards. Tradency understands the demands of our business and has delivered a responsive new trading platform that we are excited about putting into operation.”
FXCM Holdings LLC, a global leader in online forex and CFD trading, recently launched Strategy Trader—a free, all-in-one automated forex trading solution that allows clients to code strategies, perform advanced backtests, run detailed optimization analysis, and execute trades from a single platform.
Automated trading has recently grown tremendously popular, and for good reason. For one, it can remove the emotional component of decision making inherent to trading. It also frees traders from constantly having to monitor the markets for trade opportunities, while still allowing them to place trades 24 hours a day.
“We believe that our new platform is one of the most advanced retail products available on the market,” says Randy Rupan, Vice President of Systems Trading at FXCM. “Having historical data, advanced analytics, and integrated execution in one package with a price tag of free makes this a unique value proposition for the active trader.”
Integrating seamlessly with FXCM’s No Dealing Desk forex trade execution system, Strategy Trader eliminates the need for software bridges and external APIs, which can result in faster and more efficient trade execution than other automated forex trading platforms. Strategy Trader also updates prices tick-by-tick, providing substantially more price data than platforms that update second-by-second. This feature can dramatically increase the number of potential trading opportunities since there are often multiple ticks per second.
Additionally, Strategy Trader provides clients with 500,000 bars of historical data and the ability to backtest with both bid and ask prices. Over 40 unique performance reports are easily accessed, allowing clients to gain an in-depth understanding of their strategies’ potential in actual market conditions. Strategy Trader also gives traders access to exhaustive, genetic, and walk forward optimization tools, allowing traders to quickly find the most optimal strategy parameters and settings based on past performance.
Why trade with FXCM’s Strategy Trader platform?
- Strategy Trader is FREE to all FXCM account holders
- Uses the C# programming language
- Place trades on tick data
- Free proprietary Grid Strategy Trader EA (stEA)
- Over 100 pre-loaded indicators
- Exhaustive, genetic, and walk forward optimization tools
- No out trades, off quotes, or account syncing required
- Integrated third party data, including DTNIQ
- All orders sit directly on FXCM’s servers