Tradency how automatic trading works, what the Tradency broker offers

Tradency

Tradency Inc. - Founder of the brand "Mirror Trader", which allows adherents of automatic trading to take advantage of social trading. Clients of the platform have access to the formation of an investment portfolio of traders, using successful strategies. You can subscribe to this service directly through the site of the selected broker, because Tradency simply connects to the specified broker, without charging a client.

Registration

As such, there is no registration on the company's website, because Tradency acts as a provider of technology solutions for brokers. In order to access the trading platform, you will need to register with one of the brokers acting as a partner of the company.

Deposit and withdrawal

The Mirror Trader platform supports USD or EUR accounts. You need to open an account with a partner broker. Tradency has partnerships with more than 40 brokers. These include FXDD, Forex.com, FXopen, AvaTrade, FXCM, FX Trade, USG Capital and many more.

Trading conditions

Tradency offers its partners several products, platforms Mirror Trader, RoboX and Smart Investor. Mirror Trader allows you to copy transactions of selected signal providers in manual, semi-automatic or automatic mode. Initially, it was only possible to trade currency pairs, but now Tradency has added CFDs to the menu. RoboX and Smart Investor are solutions that offer simple but powerful tools for managing investments based on trading algorithms. To take advantage of these tools, you need to go to the site, answer a few simple questions about your goals and your risk appetite, and the system will provide you with some specially designed strategies and recommendations for diversifying your investment across multiple strategies.

Security

Tradency is not involved in the account deposits and withdrawal process, the security of your investment depends entirely on the broker you choose.

Trading interface

After opening an account with one of the partner brokers, you get access to the Tradency's Mirror Trader platform. The platform includes common trading and charting tools that allow you to analyze currency pair charts using various indicators and open positions to buy or sell manually. In the "Settings" tab, you can see the volume of open positions for each currency pair, which shows what percentage of other users of the platform are in the "Buy" or "Sell" positions. In addition, Mirror Trader also gives you the ability to track the strategies of other traders (so-called "strategy providers"). With the online strategies screen, you can view all the signals in real time and copy them, this is called semi-automatic copying. In addition, you can select and add your favorite strategies to your portfolio, which the Mirror Trader platform will automatically execute on your trading account. Based on our experience of using the platform, we can say that it is one of the best platforms for social trading. Basically, it is suitable for traders working on long-term timeframes. The average spread, depending on the broker, is about 3.0 points on the most traded pair EUR/USD.

Technical support

Tradency does not offer good technical customer support, the only way to contact support managers is to send an email.

Conclusion

Tradency, as the software developer for trading platforms, simply connects the client to the broker's trading terminal. But in Personal account of Tradency Mirror Trader there is an opportunity to look at the balance and account parameters. For example, you open many positions at once, you will need leverage. it can be selected here. Therefore, the spreads and the TP itself need to be watched on the spot at the broker so as not to miscalculate the choice. It is bad here just with the aspect of social interaction, ie. there is no opportunity to communicate with other traders and to comment on strategies.

The main question that traders are interested in is whether they can make money with Tradency Mirror Trader. This will depend on the quality of the strategies you choose from the large number of Tradency offered on their platform. With good risk management and regular monitoring, you will have a much better chance of success and you will be able to make a good profit. For beginners, this can be a great way to start trading and gain important real trading experience.

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Damian

Author

I have been trading Forex for more than 5 years, mostly with manual and automatic trading. I set up advisors for round-the-clock automated trading. I'm sure I can help to establish your trading skills....