The main advantage of Mirror Trading is that its automatic nature may enable investors to avoid making personal decisions during the trade. Traders use the trading platform of a brokerage to analyze the specifics and histories of different trading techniques in the forex markets. Instead, they usually use broker services or a third-party stock market website.

Initially, performance characteristics must be investigated. The trader then selects an algorithmic trading strategy from among the available possibilities based on their investment money, investment objectives, and risk tolerance, as well as the assets to be invested in.

Let's assume a trader has a low-risk tolerance. In such cases, they may mimic a strategy with a limited maximum drawdown. After strategy creators execute their trades, these transactions are replicated in mirror traders' accounts using automated software that runs 24 hours a day, seven days a week with the goal of reproducing identical outcomes. There are several forex firms that provide mirror trading.