[3] Traders can select strategies that match their personal trading preferences, such as risk tolerance and past profits.
The trades are delivered and executed automatically with entry and exit points on multiple currency pairs.
[5] With the development of financial instruments and digital tools, mirror trading gradually entered the portfolios of companies.
Since 2007, ETX Capital has made publicly available on its platform a range of financial instruments, including mirror trading.
[3] Due to the mirror-trading money laundering scheme performed by the Deutsche Bank’s Moscow, New York and London branches in 2017,[14][15][16] the term mirror trading began to be associated with fraudulent activities.
The process of mirror trading involves participants aligning their financial decisions with those of an established trader.
In the decade preceding the Russian mirror-trading scheme, Deutsche Bank was informed of substantial and widespread compliance concerns.
The offsetting trades in this instance lacked economic purpose and could have been used to facilitate money laundering or other illegal activity.