cMirror Questions
cMirror Questions
04 Jun 2015, 20:02
There doesn't seem to be too much information about Spotware's new trade copying service, cMirror and I'm not sure who to contact for further information.
I have several questions that I'll post here, I'd appreciate it if someone from Spotware could shed some light on this exciting service.
1. As a signal provider, how are the commissions paid out? Which party is in charge of paying the signal provider (broker or Spotware)? How long does it take for the payments to be paid? What are the details?
2. Where is the commission costs coming from? Is it padded onto the spread (inflated spreads or fixed charged from each clients' account)? Is the Master account affected?
3. What is the latency between Master and Client accounts? If the Master account is co-located to decrease latency, will client accounts also benefit from this?
Thank you
Replies
Spotware
10 Jun 2015, 16:50
Dear Trader,
Thank you for your questions.
1. Signal Providers are paid by their Brokers in the form of a deposit at the end of each day (midnight UTC) once the commissions they are due have been realized.
2. The commissions which a Signal Provider charges are taken from the Mirror Trader by their Broker, just like they are if a broker charges trading commissions. Commissions are added to the Mirror Traders position/deal and accounted for in a separate field inside the ticket. The spread is not affected in any way.
3. There is no additional latency caused by the Mirror Trader and Signal Provider residing with different brokers, this is because all cTrader brokers are collocated.
We are happy to answer any other questions that you may have.
@Spotware
Hyperloop
11 Jun 2015, 19:19
Thank you for responding.
1. How would this work if the signal provider is trading on Broker A while clients are trading on Broker B? This is big possibility since cMirror is broker neutral.
@Hyperloop
Hyperloop
12 Jun 2015, 20:20
RE:
Spotware said:
Dear Trader,
Thanks again for your questions.
We have a system in place which regulates commissions for this scenario to support cMirror's broker agnostic ecosystem.
Is there someone I can contact in private about this? I seem to be getting contradicting answers between you and my broker.
@Hyperloop
Hyperloop
09 Jun 2015, 19:54
Bumping this thread so Spotware can answer.
@Hyperloop