Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Finding a reputable online broker is harder than it should be. We built BrokerNotes to provide traders with the information needed to make choosing a suitable broker easier and faster.

Looking for mirror trader brokers? We have compared3broker accounts (out of 147) that are suitable for you below.

BrokerNotes is the fastest way to compare 100+ of the best regulated online trading brokers, so that you can find a reputable and affordable broker faster.

While our site is free to use, some links to brokers use affiliate links which means that – at zero cost to you – we may earn a commission if you sign up for a broker from our site.

79% of retail investor accounts lose money when trading CFDs with this provider.

71% of retail investor accounts lose money when trading CFDs with this provider.

79.6% of retail investor accounts lose money when trading CFDs with ETX

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

Mirror Trader is a trading platform that is designed and owned byTradency Inc.Tradency lays claim to being the innovator of mirror trading, or social trading as the activity is known today. Tradencys mirror trading service was developed in 2005, and their core offering is Mirror Trader, Tradencys innovative retail trading platform. Using Mirror Trader, retail traders are able to match the trading insight that had to date been the exclusive preserve of experienced and institutional traders.

Mirror trading allows individuals to have accounts that mirror the accounts of experienced traders, by replicating the same trades taken by them. To be able to make this a seamless process, Tradency created the Mirror Trader.

Using Mirror Trader, buy and sell signals from Strategy Developers are tracked by Tradencys servers and copied to the accounts of the traders who follow them. The Mirror Trader platform enables new traders to visualise, analyse and evaluatetrading signalssent by these experienced traders.

It is possible for anyone from around the world to become a Strategy Developer and share trading experience and knowledge with new users on the Mirror Trader platform. All trades of Strategy Developers are recorded and can be evaluated by new traders, allowing them to decide which experienced traders to follow. To be able to do this properly, an understanding of Mirror Trader for the forex market is essential.

Mirror Trader is a browser-based platform with an interface which supports automated strategies as well as manual trading strategies. The interface allows quick and easy account opening and activation, and seamless integration of the client account with Strategy Developers active portfolios. The platform also displays comprehensive strategy performance data and account status parameters. The Mirror Trader platform tops this off by providing tools that enhance a traders ability to evaluate and therefore select which accounts to follow.

Here are the basic features that traders who use Mirror Trader will encounter in their daily trading activity.

1.Live Charts for all currency pairs:Choose between charts for different currency pairs. It is also possible to select different time frames, and zoom in or out. Various indicators are available for technical analysis. Also, line, bar and candlestick charts are available.

2.StrategiesFilters:This is where the trader can select strategies, place strategies on the watchlist, and monitor performance of strategy providers. Set custom filters to identify suitable traders using a specific criteria.

3.Strategies Performance:Get a detailed performance summary for all strategies on the watchlist.

4.T-Score:Use the T-Score to evaluate the risk, momentum and stability of a strategy on a scale from 1 to 10.

5.Watch List:The watch list is a tool providing quick access to pre-selected strategies. Strategies may be followed before added in a trading portfolio.

6.Risk Management:Control risk using Mirror Traders risk management tools such as the Automatic Stop.

7.Exposure Meter:The Exposure Meter shows the leverage of the portfolios maximum positions. This measures risk exposure on a scale of 0 to 100, with 80 being the red alert level.

A traders use of the Mirror Trader starts with the section of strategies. The Strategies section is where the trader can access the database of strategies from developers worldwide.

Developers send their buy and sell signals to the Tradency servers using Mirror Trader. The strategies are recorded and stored in a database, and traders can then use the Smart Filter function to search, add, and use the chosen strategies.

The Smart Filter is the tool that new traders use to locate the perfect strategies for their accounts. The smart filter is designed to enable the using to find a choice of strategies using two parameters:

The trader selects the time frame that will be used for trading. Smart filter will dig into the data of trade strategies available for the selected time frame. The Smart Filter will then calculate the performance data for all strategies for the selected time frame, and present only the strategies that match their preferences.

Performance of each strategy is presented in tabular and graphical format.

To view a strategys performance curve in graphical format, click on the Curve tab.

It is also possible to add a strategy to a Portfolio. To do this, select it by clicking on the graph or by clicking the Plus tab.

To add strategies to the Watch List, click on the Star icon.

A pop-up will appear on the screen. Select the trade size for the opening strategy. Click on the Add button to complete the action. Add more strategies by repeating the process.

The Watch List allows a user to save selected strategies that are of interest for easier access much later. So rather than having to scan through hundreds of strategies looking for that one strategy which caught attention previously, the Watch List can be used to follow up on the performance of a strategy before it is added to the portfolio.

The performance of strategies is presented in graphs and tables to enable the trader to get the information at a glance.

Click on Curve to view the curve of the strategy.

To add a strategy to the portfolio, select it by clicking on the graph or by clicking on the Plus tab.

Customise how to view the table with the Add/Remove Columns tab. This then displays only the chosen table preferences.

There are several things that can be done when viewing and controlling positions. One of such is viewing and amending open positions. Click on the Open Positions tab to view all open positions entry orders in the trading account.

Close an open position using the CLOSE POSITION icon. Click on the position to close it. A dialogue box pops up, and there it is possible to click the Close Position icon to exit an open trade.

Initiate manual trading by clicking the Currency Rates at the top of the platform.

Increase or reduce the size of the Open Positions area by using the computer mouse to pull on the upper border of this area.

Modify the Stop Loss and Take Profit prices when the position is open. The Stop Loss distance can only be reduced from the entry price, and the Take Profit distance can only be increased from the entry price.

Showcase the history of ended trades on the account (i.e. the closed positions) by clicking on the Closed Positions tab. If a position copied from a strategy provider is closed manually, and the strategy providers position that was copied is still open, the Close Position order will be fulfilled.

XTBscored best in our review of the top brokers for mirror trader, which takes into account 120+ factors across eight categories. Here are some areas where XTB scored highly in:

XTB offers three ways to tradeForex, CFDs, Social Trading. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the brokers trust score. To calculate a brokers trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 16

Central Bank of Ireland, ASIC, FSA, FSB and BVI

A Comparison of XTB vs. AvaTrade vs. ETX Capital

Want to see how XTB stacks up against AvaTrade and ETX Capital? Weve compared their spreads, features, and key information below.

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.

MT4, Mirror Trader, Web Trader, Tablet & Mobile apps

MT4, Mac, Mirror Trader, ZuluTrade, Web Trader, Tablet & Mobile apps

MT4, Mac, Mirror Trader, Binary, Tablet & Mobile apps

Payoneer, Credit cards, Bank transfer, PayPal, Neteller, DebitCard,

Payoneer, Credit cards, Bank transfer, PayPal, Neteller, WebMoney,

Payoneer, Credit cards, Bank transfer, Neteller, UnionPay, SOFORT, Giropay, DebitCard,

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Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.