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Mirror Trader Now Available to Each and Every FXCM Customer

Jan 10 2013
By
Forexbrokerz.com

Yesterday FXCM announced that it is making changes to its Mirror Trader offering: instead of supporting it as a separate platform that needs a designated account, it is now launching it across its entire client base, irrelevant of the account type they sign up for. 

 
This move comes in line with the effort of the software provider Tradency to establish a mass market model for its Mirror Trader platform. Currently the platform is offered by a number of brokers – but it is far from the popularity that other automated trading platforms enjoy. A simple example is Zulutrade and the 50+ brokers it works with. 
 
Nonetheless, Tradency is working really hard on expanding: it is currently focusing on stepping on the Cypriot and Japanese markets, and in the meantime, it is improving the platform: the latest upgrade added CFD trading to Mirror Trader.  
 
Approaching FXCM and reaching a new agreement with it is a probably a wise step towards widening the reach of Mirror Trader – after all, FXCM is the largest broker worldwide, with over 200,000 active live accounts and impressive trading volumes. FXCM customers can now access Mirror Trader regardless of the account type they are holding – without the need to sign up again or get a new set of login details in order to follow and trade signals
 
This could be beneficial for traders of all skill levels – Mirror Trader comes with a wide range of capabilities suitable for rookies, advanced and professional traders. These capabilities include automatic, semi-automatic and manual copying of signals, strategy performance reports, risk management tools, etc. The fixed-fee payment scheme is another advantage of the platform. 
 
"FXCM focuses heavily on helping our customers, novice and savvy alike, to become better traders, and with the new Mirror Trader model FXCM can achieve that and grow our activation level and trading volume at the same time. Mirror Trader is a very marketable platform with a high client lifespan, which can help us attain clients previously out of reach," commented FXCM’s CEO Drew Niv. 
 
Lior Nabat, CEO of Tradency, added: "FXCM is the major player in the Forex market. We are both honored and delighted to deepen our long lasting business cooperation. As a pioneer in this field from day one, we strive continually to improve and versify our offering to brokers; this is the prime reason for the conceptual change to our business model earlier this year. We had successfully turned the Mirror Trader platform into a mass market product. We are now presenting FXCM with a platform that encompasses a full spectrum of traders from novice to the experienced, all traders benefit from the vast amount of knowledge they have at their fingertips inside the platform." 
 
 

About FXCM Inc.

 
FXCM Inc. (NYSE: FXCM) is a global online provider of foreign exchange (forex) trading and related services to retail and institutional customers world-wide.
At the heart of FXCM's client offering is No Dealing Desk forex trading. Clients benefit from FXCM's large network of forex liquidity providers enabling FXCM to offer competitive spreads on major currency pairs. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. FXCM's U.K. subsidiary, Forex Capital Markets Limited, also offers CFD products with no re-quote trading and allows clients to trade oil, gold, silver and stock indices along with forex on one platform. In addition, FXCM offers educational courses on forex trading and provides free news and market research through DailyFX.com.
 
 

About Tradency

 
Tradency Inc. is the developer and originator of Mirror Trading technology, which enables traders in foreign exchange to automatically evaluate and adopt global strategies. Tradency's Mirror Trading Platform offers traders a flexible choice of combining its groundbreaking approach with traditional online trading methods. Since its inception in 2005, Tradency has pioneered this new method, creating a new category of platform trading. Tradency continues to innovate its services, reinforcing its reputation as the creator of cutting-edge industry practice.
TAGS: FXCM  forex trading  forex platform  trading platform  Mirror Trader  Tradency  Zulutrade  trading signals  automated trading  CFD 

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