Tradency, developers of the auto trading platform, Mirror Trader, has announced that Japanese FX Prime has partnered with them. Under terms of the deal, FX Prime will begin to offer the Mirror Trader copy trading solution to its entire client base. The platform is expected to be launched to customers during October of this year. For Tradency, the firm has found interest for its products in Japan, with Invast Securities announcing earlier this year that it had reached 40,000 Mirror Trader accounts. In addition to services for OTC FX, Tradency has also been a presenter at the Tokyo Financial Exchange (TFX), with its product being compatible for exchanged based Click 365 FX trading. Tradency also announced that Japanese usage of Mirror Trader has grown 100% over the past year.
The partnership with FX Prime, comes after Tradency had signed deals with Japanese Planex and Central Tashi earlier this year. In its statement announcing the deal, Tradency mentioned that FX Prime had based their decision to launch Mirror Trader on high interest for system trading, as 80% of respondents in a customer study were in favor of such a product. As a result, FX Prime announced that “they expect the new addition to their offering will strengthen acquisition process and product appeal for existing along with new potential customer segments.”
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Commenting on the deal, Lior Nabat, CEO of Tradency stated “we are extremely pleased and honored to be cooperating with Forex giants such as FX Prime and the GMO group. FX Prime’s declaration of cooperation reinforces the global recognition Mirror Trader receives and we look forward to working closely together and provide FX prime’s many thousands of clients with reliable solution & service.”
In terms of FX Prime, the firm was acquired by GMO Click last year, but continues to operate as a standalone brand. Forex Magnates reached out to Tradency to learn if the current partnership will be expanded to GMO Click’s client base or will remain solely with FX Prime. A representative answered that “naturally, as FX Prime is part of the GMO group, we have ongoing dialog with GMO on leveraging success with FX Prime to expand our business together. In light of Tradency’s global success and specifically the achievements reached in the Japanese forex market, we continue to widen the usage of the Mirror Trader platform with top-tier brokers in Japan and worldwide.”