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Mirror Trader Benefits and Disadvantages

Mirror trader is an ONLINE platform that allows traders to both trade independently and connect to managers’ trading strategies. Using the knowledge of professional traders, you just need to choose the most successful strategies of them, and you can create a portfolio of the best strategies. The platform presents several modes of operation: automatic (choose a strategy and then the platform trades for you), semi-automatic (each trade passes manual confirmation) and of course you can trade independently. The Mirror Trader trading platform is different from other trading terminals. That is, you make offers, but not as usual – a huge amount of news, a large selection of tools and an endless flow of information, which falls on the head of a beginner who can not understand what is happening at all, begins to get lost and, of course, lose money.

Before choosing a platform and how to make money, you need to decide on an important issue – the broker. By the way, mirror trader platform is offered by more than two dozen brokerage companies. We will not advise you which broker to choose, we offer a list of binary options brokers, as well as reviews of other traders who have experience in cooperation with different companies in the reviews sections milltrade et al.

Platform features:

Platform does not need to be downloaded and installed on your computer, there is an indispensable set of indicators, the platform does not need to be downloaded and installed on your computer, many indicators allowing you to evaluate profitable strategies , automatic copying of signals even when the computer is off, NO need to pay for forex strategies, advanced automatic risk management, the ability to intervene in trading strategies Integrated with MT4, you use the same login and password.

Brokers to work with Mirror Trader platform: Fibo Group, TeleTrade, Alpari, Alpha Forex, AMarkets

Stop at what Mirror Trader offers. These are real-time signals as well as those. You can not only trade, but also choose effective strategies of more successful colleagues and copy them, which is quite simple even for beginners. You can be sure that the strategies you copied will be really profitable, because you can show strategy only after it has been tested by developers. This is a good opportunity for experienced traders to test their strength.

In many ways, the effectiveness of the platform (i.e. capital gains growth) depends on your knowledge of forex and the use of the platform. Fortunately, broker websites contain a lot of information about how to train and use the platform. The ultimate key to success will be choosing the most profitable strategies at any given time.

It turns out that the user opens a huge “warehouse” of good strategies. And if you are just starting to trade and can not yet create your own, so you can have data on which positions to open and do it manually. If you do not want, there is the possibility of automated trading.

Mirror Trader

1 When you use someone else’s good strategy, you make money or you can convert it on your own and achieve even better results. Each strategy is the result of a huge work and experience of professional traders, all of them are tested, so the risk is minimal, although always present.  You can control and monitor signals in real time, statistics are also online. You choose the closing time and you can withdraw funds if you deem it necessary. Almost all tools have a small spread and you don’t have to pay the manager. All the signals you receive in real time prefer any strategy and also carefully analyze its effectiveness. You can have access to many of these tools.

Choose this platform or not – the choice is yours, check its advantages and disadvantages and draw conclusions that suit you or not.

Additional convenience is provided by the fact that mirror trader platform can be tested even in a demo version, that is, not for real money. Once you have opened a demo account, please specify the Mirror Trader platform in the completed form.

Cons

Naturally, each platform has its drawbacks, so there are disadvantages and Mirror Trader, but there are not so many, especially since you compensate them for the existing advantages. Platform

is not light, so the connection should be of high quality. On the first pairs will have to break the head a little, but then the use is simple. It is not possible to access your MetaTrader account (for many entrepreneurs this is a significant defect). Sometimes you need to control your capital account so that the trader, who is a bit played, is stopped on time. The developers did not take care of the implementation of the loss control.

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