Spotware to permanently shut down cMirror
Fintech company Spotware Systems today announces that its cMirror service will cease operations. Spotware explains that, given the popularity of its copy trading service cTrader Copy, it has decided to permanently shut down cMirror.
As we reported in August, cTrader Copy is a copy trading service, which includes risk management tools and detailed strategy profiles, which providers can use to showcase their products. It was introduced by Spotware in 2018 as an overhaul of its original mirror trading platform cMirror, and functions as a flexible investment platform and a fully-integrated feature of cTrader.
The process will include two stages:
- Starting November 15, 2020 – in the case of paid strategy followers, cMirror will only copy closing trades, no new positions will be copied. For followers of free strategies. There will be no difference at this stage.
- Starting December 13, 2020 – the cMirror service will completely cease operation. Any copied positions that remain open after this time will have to be managed by traders manually.
Spotware encourages all traders who have not done so already, to transition to cTrader Copy.
Let’s note that cTrader Copy uses an Equity-to-Equity ratio model, which is built for precision and advanced risk management. The volume to be copied is defined based on the strategy provider’s and investor’s equity, taking into account any allocated amount changes from deposits or withdrawals.
Every followed strategy is placed in a separate copying account, ensuring a clear vision of each strategy’s performance for superior analysis and risk management. Additionally, an Equity Stop Loss can be applied per strategy, and increasing or decreasing funds can be allocated to any strategy of your choosing. For maximum convenience, fees for each copying account are also calculated independently.
Strategy providers are free to charge any fee of their choosing: from volume-based commissions to performance and management fees, as well as a combination of either. They can also set a minimum investment amount for meaningful returns.
Offering some of the most advanced analytics in the industry, cTrader Copy is tailored for users’ personal advanced analysis. Charts can be adjusted to specific time periods, all important information on Time Weighted RoI, Balance vs. Equity, Breakdown of Traded Symbols and History of Followers has a convenient visual representation, and one’s favourite strategies can be bookmarked for easier access.
cTrader Copy strategy profile also allows users to showcase and promote their strategy on any external website by means of an embeddable code.
The newly-redesigned dashboard displays all of one’s copying accounts with followed strategies, and allows users to modify settings or analyze strategies in a matter of a click, saving time and bringing them one step closer to expert trading.