Have merchant traders trades executed for you
General inquiries
New around here? Start with the basics.
How does Mimic.Trade work?
Mimic.Trade works in two different ways, one being for followers (users), and another for traders (merchants).
• For followers it works by allowing a user to purchase a subscription from the trade group of their choice, which then gives them the ability to link their TDA Account to the in which they are followings port.
• For traders (merchants) it works by purchasing a merchant license(s) and setting the guild (server) in which you want to sell your services in. After doing that you can link your TDA Account which is to be mimicked for your followers.
With copy trading, a trader (signal provider) shares real-time trades with other traders (users). Using a copy trading platform, users can automatically copy the trades of the signal provider in real-time. Each copy trading platform provides optional controls to protect investors. For example, traders can customize the amount of capital they are risking, and which signals to copy.
How does Mimic.Trade Generate Revenue?
Mimic.Trade generates revenue through recurring subscriptions to our platform and service/software. We don't get paid for order flow or based on how much you trade or make.
Is Mimic.Trade a brokerage or RIA?
Mimic.Trade is not a brokerage or RIA, we are a software-as-a-service (Saas) technology provider.
Do you charge commissions or make money for or off trades?
Mimic.Trade charges zero commissions and receives zero compensation for trades from our broker partners. Our incentives are only aligned with providing the best possible experience using Mimic.Trades services, not with how many times you trade, or how much money you make.
Keep in mind though, you are still responsible for any commissions or fees in your brokerage account.
What can be 'mimcked'?
As of right now we are only options based but soon plan to extend our service to whole shares, as well as crypto and forex. There are even plans to introduce AI to our system which can be freely opted in or out of.
Is Auto/Copy Trading legal?
Yes. In the same way Algo Trading is legal, so is our service. All you're doing is approving access for our SaaS (Mimic.Trade) to place trades on your behalf, much like you would when signing up for an Algo Trading platform.
Whereas Mimic.Trade is the service, TD Ameritrade is your broker dealer.
Mimic.Trade recommends you read the following SEC release concerning the risks of auto trading here.
More: Copy trading is legal in the U.S. provided that your broker is properly regulated by either the Commodity Futures Trading Commission (CFTC) in the case of forex; or the Securities and Exchange Commission (SEC) for stocks. For cryptocurrency copy trading your broker must be a registered Money Services Business, or MSB, and licensed by FinCEN. Copy trading is typically treated like having a self-directed account.
Is Mimic.Trade secure?
Absolutely.
None of your credentials are stored on our server except for account names, numbers, etc. All Discord usernames and passwords are stored on discords servers, while all TDA usernames and passwords are stored on their servers.
How fast are executions?
One of the main advantages of algos is the ability to quickly enter and exit trades, but at 1.2s average execution time from the minute its executed within our program, to execution on the users port, there's almost no comparison between us and algos execution speed.
Can I override the program?
Absolutely.
You can buy, sell and other wise trade like you normally would while connected to our service, just keep in mind that it will affect the overall risk available for trades to be automatically executed for you. On top of that, you are also perfectly able to override any trade we place, meaning you can sell it early, buy more, etc.
Trade Follower FAQs
Most common questions asked by followers.
How many portfolios can I link under one subscription?
At this point in time you can connect as many portfolios as you want at not additional cost. As the service develops and become bigger and stronger, we will most likely start charging $10/mo per additional portfolio that is linked.
How many traders can I follow?
You can follow as many traders as you have a subscription for at anytime. Whether it's 1, 2, or 5, you can follow some, or all.
How do I manage my account?
Your account settings can be accessed in the user control panel found here.
As far as payment and subscription settings go, that should be handled between you and the server you have the subscription for.
Is there a user or analytic dashboard?
Not yet, but it is in development. We will have a couple different kinds of analytics for you to look at, all of which will have graphical support.
Trader Analytics: these analytics cover the success of any and all groups you are a paid member of. In the future we plan to release these stats live under our available servers so you can see any single server under our platforms performance, live. The analytics will include everything from average number trades entered, number of winners vs losses, average profit by $ or %, total profits for all users, top user profits, and more!
User Dashboard: the user dashboard will feature a full overview of your account(s) linked to any service that is trading under our platform. You will be able to see all the settings listed above for trader analytics, for your own account. On top of that you will see a quick view of your account balance and P/L for the day, you will have the ability to see, back trace, log, and download all trades you had automatically entered for you, searchable by date, plus more.
What are risk settings and what do they pertain to?
These are the settings you require you to set to help manage how much your account is able to spend based on your available capital.
Currently, we only have 4 mandatory risk settings, which are:
1.) Trade Limits, which refers to the amount of trades you can place in x amount of time.
2.) Maximum Option Premium, which refers to the max contract price of an option trade.
3.) Maximum Individual Trade Price, which refers to the max total dollar amount per trade.
4.) Allowable Slippage, which refers to the percent amount a trade can move above our entry and still allow your account to enter as long as it is below your risk settings.
Are there any other risk settings?
Currently no, but I can't began to tell you how excited I am to start our next wave of development. I know what we have right now isn't much, we have so much planned and don't plan on stopping until we can't possibly do more.
Currently, as far as risk settings go, we have the following planned and in the works:
1.) Global Stop Losses: set max loss you're willing to accept on any trade executed on your account.
2.) Global Trailing Stops w/ Legs: set trailing stops to trigger and take over at any minimum price you see fit. Planning to have a way to enable you to scale out of contracts with trailing stops by adding legs.
3.) Expiry Settings: If a trader were to call a trade on a Thursday or later for an expiry for that same week, this setting allows you to enter the next weeks trade for the same strike, as long as it's within your risk settings.
4.) Minimum Trade Cost: set minimum cost you want to spend per trade, effectively giving the program the ability to scale up the amount of contracts the initial trader might have executed.
Merchant Trader FAQs
Most common questions asked by merchants.
How does being a merchant work?
Being a merchant means that you can take your existing trading community and start offering your trades to your clients completely automated. That's right! With our service you can easily connect your existing TD Ameritrade Account as a Trader under our merchant role, and every trade you enter, down to the amount entered, cost of trade, everything, will be exactly mimicked to any user that has their account linked to your trade group and chooses to enter, and have the supporting roles that you setup after purchasing your license.
How does it work for your users? In the same way that you link your TD Ameritrade Account as a Trader, they will link their TD Ameritrade Account as a Follower. You will be able to set which roles you want to have access to this feature in your trader settings. After they are linked to your group, and have the feature turned on, they can set their risk settings which will allow them to keep within their personal risk tolerance, regardless of the amount or cost of trades you enter. The end user still retains ULTIMATE control.
What kind of trades can be placed?
Currently we just offer basic covered calls and puts, with basic strategies, but as I'm sure I'm starting to sound like a broken record, we do have more features in the works for this area.
As of right now, we plan to add:
1.) Advanced Option Plays: straddles, strangles, spreads, iron condors, butterfly spreads, etc.
2.) Whole shares: with risk settings allowing users to choose max underlying price, max total trade price, and ticker blacklisting, we won't be limited to just options.
3.) Crypto: Although its the last thing on the priority list to be implemented, we plan to have this implemented by end of the year so you can offer everything possible to your followers, short of forex/futures, which is also going to be implemented, eventually.
How many traders can I have on my merchant account?
We are currently developing a feature which will enable you to purchase and issue sublicenses to your analysts, who in turn can help you diversify your server, which will ultimately help generate more income for both you and your sub-companies/traders under our SaaS model.
Is there a merchant or analytic dashboard?
Again, one of the many things set to be in development soon and will ideally be released in the next couple months at most.
The analytic dashboard will be within the merchant dashboard and will include the following, and potentially more:
1.) Ability to manage and view followers under your guild, including guild data (amount of followers, etc.)
2.) Ability to view individual trade analytics both for your guild, and your followers.
3.) Ability to look at each individual users account analytics, allowing you to confirm claims or disclaims.
4.) Ability to view all trades executed under your server, which server/trader under your account executed the trade, number of followers that executed that trade, profits made on that trade, etc.
How do payments work for merchants?
While followers only have a single monthly fee, merchants are required to pay both a monthly service access fee as well as an added $5/mo per follower (seat) under your guild.
Ultimately, this means you only need to make $5 off each user in order to profit after your main fee. The opportunity for revenue is huge for you.
If you are wondering how you can accept payments, we recommend using Upgrade.Chat, otherwise it's up to you to set up your own payment management system.
How do I manage my merchant account?
Support and Terms
Learn about support options and terms of service.
Where can followers get support?
All support requests should first be attempted to be resolved by the server in which your subscription is active in. We are not able to help you with your subscription for other services.
Mimic.Trade support regarding execution errors, account errors, or any issue not otherwise solvable by the support of the server you have a subscription in can be Mimic.Trade Support Server, by opening a ticket or live chat request.
Where can merchants get support?
You get support in the Mimic.Trade discord server. If you need to report any pressing issues you can open up a support ticket and our support team will be with you instantly. Otherwise, if you just need to report a bug or something similar that doesn't require immediate intervention, you can use our bug report form. You should only reach out to us for issues within the Mimic.Trade platform.
Keep in mind, as a merchant you are required to be in the server, and leaving can cause your account to automatically be canceled as a merchant.
Can I get some additional questions answered?
Most certainly. We try to cover everything we can to make it as easy and smooth of an experience that we can, but we do occasionally miss some things.
If you need some questions that we didn't cover here, please don't hesitate to schedule a meeting with us here.
We will be more than happy to answer any questions, and it will also give us an opportunity to update our FAQs.
Mimic.Trade/Auto Trade Disclaimer
Mimic.Trade does not advise, consult or assist any trader with respect to the content, recommendations or strategies contained in any advisor or trade alert executed by any advisor.
Options involve risk and are not suitable for all investors. Prior to trading options, you must be approved for options trading and read the Characteristics and Risks of Standardized Options. A copy may also be requested via email at support@mimic.Trade. Online trading has inherent risks due to loss of online services or delays from system performance, risk parameters, market conditions, and erroneous or unavailable market data.
Before making a decision to engage in Auto Trading you should perform the due diligence necessary to ensure that the concept of Auto Trading is compatible with your investment strategy. If you open an account with Mimic.Trade to engage in auto trading, Mimic.Trade will not review, in any manner, your choice of a trade group or trader nor the trading methodology or investment strategy you implement for your auto trading account. Nor, will Mimic.Trade be responsible for reviewing any of the transactions executed in your account. There is no 'safe' or 'guaranteed' trading strategy.
Mimic.Trade recommends you read the following SEC release concerning the risks of auto trading: http://www.sec.gov/investor/pubs/autotrading.htm.
As an Auto Trader (follower)(trader) your investment object is speculation and will be recorded as such in Mimic.Trade's records. Mimic.Trade's sole responsibility will be to execute transactions for your account. You must assure Mimic.Trade that the funds you intend to invest in Auto Trading are funds that you can afford to lose without impacting your standard of living. Mimic.Trade makes no warranties or representations concerning any trade group or trader, advisor or auto trading strategy; nor does Mimic.Trade, by implication, or otherwise endorse any specific trader, methodology, strategy or philosophy but is merely providing you with a listing of various entities that provide auto trading information.
Mimic.Trade/Auto Trade Disclosure
Mimic.Trade cannot be held responsible for any lost profits, trading losses or other damages due to loss of online service, communication delays or any delay in the receipt of trade alerts, by fax or otherwise by your trade group or trader. You are subject to risk from errors of electronic systems, communications and market timing.
Only you are able to start, stop or change your auto trading status. Auto trading will continue in your account indefinitely until your subscription expires, you notify Mimic.Trade of a change or your account lacks sufficient equity.
Mimic.Trade is not responsible for the privacy practices of other web sites, nor does it endorse the accuracy or content of the products of such web sites. Use of these sites and services is at the users own risk, and without guarantee or warranty of any kind from Mimic.Trade.
Mimic.Trade/Auto Trade Terms & Conditions
Mimic.Trade offers Auto Trade services solely for the exclusive use of its customers. Customers who enroll in Mimic.Trade Auto Trade services are authorizing Mimic.Trade to purchase and/or sell securities in accordance with the instructions in their signed Auto Trade dashboard AND to place in their accounts standing orders based upon the execution of other unaffiliated traders to which the customer has previously subscribed. Mimic.Trade will effect transactions for the customers account without further authorization from the customer.
This Auto Trade Terms and Conditions Agreement requires the customer to evaluate his/her own investment strategies and objectives, and carefully select a trade group that meets these criteria. It is the customers responsibility to review the trade groups experience, credentials, and performance. Mimic.Trade does not review these factors, and does not rate, rank, or endorse any trade group or trader. Inclusion of a trade group in the Mimic.Trade Auto Trade program does not constitute a recommendation of any kind. Mimic.Trade does not require trade groups or traders to be registered under the Investment Advisors Act of 1940. Your trade group or trader may or may not be registered and inclusion in the Mimic.Trade Auto Trade program does not imply that they either are or are not required to be so registered. Mimic.Trade is independent and has no affiliation or ownership interest in any traders using it's system.
Each Auto Trade customer (here known as: auto trade follower) must carefully read, sign, understand, and consent to the terms of the auto trading agreement. It is the customers responsibility to review and immediately update thier own account in the event that the customers personal and/or financial information changes. It is the customers responsibility to monitor and review all trade activity, including updating and maintaining accurate instructions paramaters on file with Mimic.Trade. If the subscription to the trader is canceled, or if the customer wishes to terminate his/her subscription, the customer is responsible for cancelling each auto trade service with their respective trade group (here known as: auto trade merchant) by completing these changes via their electronic, web-based platform, as well as making necesarry adjustments within their dashboard to turn off automated trading.
Terms & Conditions Continued
