Flexible Automated Trading with AvaTrade
Mirror Trader offers you one of the most complete and flexible automated trading platforms in the market, enabling you to “mirror” the trading strategies of hundreds of experienced traders – known as strategy providers – from around the globe.
Why Trade on Mirror Trader?
- Mirror trading of experienced strategy providers
- NEW! – Mirror premium trading strategies provided by leading hedge funds.
- Flexible trading platform – suitable for auto & semi-mirroring alongside manual trading
- Full portfolio of strategy providers – choose a strategy provider according to performance
- Multiple live charts and indicators – everything you need for proper technical analysis
Using Mirror Trader with AvaTrade
Key Features of Mirror Trader
Mirror Trading of Strategy Providers
The Mirror Trader is an algorithmic trading system, in which strategy providers design trading algorithms that analyse the market, according to different type of indicators, oscillators, trends and technical market analysis. These savvy expert traders are chosen carefully by the creators of Mirror Trader and go through a long verification process of their strategies in order to provide users with tested and proven strategies to mirror.
Monitoring is not over after a strategy provider is accepted to the platform. As part of its commitment to a high quality trading algorithm, along with a controlled and protected trading experience, the performance of the strategy providers is continuously supervised and regulated by the Mirror Trader team.
New! – Hedge Funds Algo Strategies
The new Hedge Funds Algo Strategies featured on the Mirror Trader platform, is a huge leap forward in the world of automated trading. The new feature allows traders to follow the trades of well-established hedge funds companies that are managing millions of US Dollars. Previously, Hedge Funds strategies were aimed at high net-worth clients holding accounts worth several million US Dollars. Now, with the accessibility of this new feature on the platform, retail traders are welcome to join the big league and enjoy the next generation of automated trading.
Following Trade Signals
The Mirror Trader platform includes a “Live Signals” system, which monitors the market for “Buy” and “Sell” signals of its strategy providers. The system allows traders to choose to mirror a specific trade and not a whole strategy. When a strategy provider opens a trade, it will appear in the Live Signals tab, offering traders to mirror it for a limited period of time.
The platform provides you data to assist traders with their decision whether to mirror a trade or not. Each displayed signal includes details, such as the name of the strategy provider, the currency pair, the time left for mirroring the signal and how many users are mirroring this specific trade. Additional information regarding the strategy provider sending the signal is also presented: performance graph, pips, T-score and total number of trades. All information relates to the strategy provider’s activities over the last 30 days.
Choosing Trading Method
Mirror Trader gives users complete control over their trading experience. The platform offers three trading modes, which can be mixed together to maximise the utility of the system. Traders are able to choose their trading modes as they wish, or mix between automated & semi-mirroring as well as manual trading.
The Automated Mirroring mode on the platform is activated when a trader chooses to add a strategy to the user’s portfolio. Every user can customise the strategy; choose the maximum number of positions that will be opened for each signal provided by the strategy, as well as pause a strategy, and set limits and stops for future positions that will be opened by the strategy provider.
After a strategy is added to the user’s portfolio, and the strategy provider opens a trade, then the Mirror Trader server will mirror this trade automatically to the user’s platform, and open positions.
Using the semi-mirroring mode allows users to mirror a specific trade opened by a strategy provider rather than a whole strategy. Each signal has a limited time for mirroring, after which a user can not follow the trade. As with automated mirroring, the user can customise the trade, defining its size and setting stops and limits to protect the trade.
The Mirror Trader platform enables traders to trade manually alongside automated and semi mirroring modes. There are three ways to manually open a position on the platform:
- Open a position from the Rates Chart located on the upper right hand side of the Live Chart.
- Open a position from the Rates Bar at the top of the platform.
- Open a position from the Rates Tab at the right hand side of the platform.
How to Choose a Strategy Provider?
Trading is a risky business. A wise look and a careful screening of strategy providers are required with both automated and semi-mirror trading. Therefore, the Mirror Trader presents a full portfolio for each strategy provider in addition to filtering options of strategies; so that traders may choose what suits them the most.
As part of its regulation and commitment to transparency toward its platform users, each Mirror Trader Strategy Provider has a full portfolio, which allows users to wisely and carefully choose which strategy to mirror. By clicking on each strategy provider on the Strategies tab, a trader can reach the strategy card and receive valuable information regarding the strategy provider’s performance. The strategy card includes the trading history as well as performance statistics, including all open and closed positions, T-score, pips, etc.
Within the Strategies tab on the platform, a trader can set various filters, pre-defined and customised, allowing him to choose which strategies should be followed, and even add to the watch list. There are four predefined filters set on the platform:
- Top Selected – Shows strategies with the largest number of subscribers over the last 30 days.
- Top T-Score – Ranks strategies according to their current T-Score, from top to bottom.
- Top Traded – Strategies are filtered according to their number of performed live trades over the last 30 days.
- Top Balanced – Ranks strategies according to their largest subscribed live balance.
- Market Based – Ranks strategies from top to bottom, showing positive trends and profit in the last three months (each month separately) and low risk (DD).
The Live charts tab is set at the heart of the Mirror Trader platform. Within the tab, traders can open several charts; each can be customised according to a different traded instrument, time frame, and chart type. Traders can add multiple oscillators and view the sentiment towards the instruments, i.e. the amount of users and strategy providers holding buy or sell positions in the specific instrument.
The chart can be expanded and minimised and it also includes zooming abilities for a closer view.
User Friendly Interface
In line with AvaTrade’s commitment to empower traders, AvaTrade chooses the most advanced and user-friendly platforms for its clients, in order to optimise their trading experience. The Mirror Trader platform, accessible to all AvaTrade clients, is a user-friendly platform which is simple and quick to learn, also offers a walkthrough tutorial as well as online help and support.