TradeMirrorFX
Project Info
- Project Name TradeMirrorFX
- Role Owner & Co-founder
- Time 2024.10 - Present
-
Skills
- JavaScript/TypeScript
- React
- Node.js / Express.js
- Web3.js/Ethers.js
- WordPress
- ASP.net
- MongoDB
- Swagger UI
- API Design & Development
- Real-time Threat Detection Systems
- System Architecture & Design
- Data Analysis & Visualization
- Forex Trading
- Funding Status Self Funding
- Project Status MVP completed
-
What I Need
- Non-tech Co-founder
- Investment
Project Description
Concept of a Copy Trading Platform
Copy trading enables individuals to automatically replicate the trades of skilled traders. This innovative system benefits both expert traders, who can generate additional income by sharing their strategies, and investors, who can leverage the expertise of seasoned professionals without needing extensive market knowledge.
User Types
Traders (Masters)
Experienced traders who share their trading strategies and allow others to copy their trades. They can earn supplementary income through profit-sharing or commissions.
Investors (Copiers)
Individuals seeking to invest without deep market knowledge. They can select which traders to follow based on performance metrics and risk profiles.
Our Strategy
While several popular copy trading platforms exist, such as MetaTrader 4, MetaTrader 5, Tradelocker, cTrader, DXTrader, NinjaTrader, and Tradeovate, none currently offer a comprehensive suite of services that includes all these platforms.
Therefore, I plan to develop a unique copy trading platform that fills this gap.
Platform Features
User-Friendly Interface : A modern and intuitive interface will allow users to easily navigate the platform, select traders to follow, and initiate copy trades.
Performance Tracking : We will implement advanced analytics tools that provide detailed performance metrics for each trader, including profitability, drawdown levels, and historical performance data.
Risk Management Tools : Users will have the ability to set investment limits, such as daily loss caps or maximum order sizes, ensuring better control over their investments.
Affiliate Marketing Feature : To enhance marketing efforts, we will incorporate an affiliate marketing feature to attract more users.
Initial Development Plan
I will launch with four platforms:
MetaTrader 4 (MT4), MetaTrader 5 (MT5), Tradelocker, and cTrader.
The initial version (1.0) will support 4 * 4 = 16 unique copy trading methods:
MT4:
MT4 -> MT4
MT4 -> MT5
MT4 -> Tradelocker
MT4 -> cTrader
MT5:
MT5 -> MT4
MT5 -> MT5
MT5 -> Tradelocker
MT5 -> cTrader
Tradelocker:
Tradelocker -> MT4
Tradelocker -> MT5
Tradelocker -> Tradelocker
Tradelocker -> cTrader
cTrader:
cTrader -> MT4
cTrader -> MT5
cTrader -> Tradelocker
cTrader -> cTrader
In version 1.0, additional platforms(DXTrader, NinjaTrader, and Tradeovate) will be marked as "coming soon." Future versions (2.0) are projected to expand the available copy trading methods to a total of 8 * 8 = 64.
Revenue Model
Subscription Fees
For Masters:
Basic Plan: $10/month per account
Premium Plan: $30/month per account
Professional Plan: $50/month per account
For Copiers:
$10/month per account
Each user can manage multiple accounts as either a copier or a master trader.
Market Potential
this copy trading platforms has large portential to success.
if the master trader is already using other competitors, It's okay.
Because if the master trader joins as many copy trading platforms as possible, they can attract more followers (copiers), so they can share their strategies and make more money.
