Tradency Tiptoes into Social Trading, Launches Mirror Trader Portfolio

Tradency, the providers of Mirror Trader, one of the leading copy trading platforms has announced the launch of Mirror Trader Portfolio (MTP). The new feature will allow users who are following and copying multiple Mirror Trader strategies to save the combined group as one portfolio. The saved portfolio can then be shared with other Mirror Trader users as an Excel file or via email.

According to Tradency, MTP is slated to offer advantages to both brokers and end users. In regards to brokers, Tradency envisions firms promoting MTP-based competitions, as well as companies creating portfolios that can be disseminated to clients. For end-user traders, the MTP feature provides the ability to archive portfolios for the future, as well as strategy distribution.

Primarily a copy Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term, Mirror allows users to choose among the system’s strategies to automatically copy their trades. Unlike social trading platforms, Mirror Trader focuses on portfolio building, based on using existing strategies in the network, rather than two-sided interaction. The MTP feature thus becomes a small step for Tradency in the social direction. In terms of similar products, eToro offers a similar portfolio-based product, its CEO, Yoni Assia having previously told Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Magnates that it is a popular feature among users.

In terms of Tradency, it’s worth watching how the product will be marketed by brokers. Within the company’s prepared remarks, they stated a use case of the “ability to promote personal portfolios (successful MTPs could be offered for sale).” While we don’t envision selling MTPs as much of a competition to the massive existing EA market, the product could be a useful feature for introducing brokers and affiliates. Specifically, broker partners could market successful portfolios on their sites, to trigger introduced clients to use Mirror Trader. With many affiliates receiving volume-based commissions, copy trading products such as Mirror Trader offer an efficient method to monetize on new clients.