|Free Demo Account||Open Demo|
|Deposit Methods||Bank Transfer , Debit & Credit Card , PayPal , Other Popular Methods|
|US Traders Allowed|
- Availability of insights for novice traders
- Great user interface
- Very active interactive and social community
- Low account sign up fee
- Restrictions to some countries
- Stocks are still not available to trade
ZuluTrade Review: What is ZuluTrade?
ZuluTrade is a social and copy trading platform that gives users the opportunity to mimic the trades and investment strategies of other experienced traders, known as signal providers. There are basically two categories of users on the platform; the signal providers (trading experts) and the followers. So, how does ZuluTrade work? What are the important things to know about the platform? How can you open a demo account and progress into live trading? How to start copying Expert traders on ZuluTrade? These and many more questions will be explored in this ZuluTrade review.
Overview of ZuluTrade History
ZuluTrade was launched in 2007 in the state of Virginia, USA by Leon Yohai and Kosta Eleftheriou. Before the launch of the platform, Yohai was trading with FXCM. He decided to create the software that can connect to FXCM’s API to enable him to copy the trading strategies of other traders. In 2008, they launched the beta version of the software. By the year 2009, the company has grown to accommodate more than 4,500 signal providers whose trading strategies could be imitated by the user base on the platform. As at the time of this writing, the company had attained a user base of over 1.5 million and carried out a trading volume of more than $1.2 Trillion USD.
In 2014, ZuluTrade was acquired by Market Crew Investment Advisor Co., Ltd, and in 2015, the ZuluTrade platform obtained an EU Portfolio Management License, which made the organization a licensed portfolio manager in the European Union. ZuluTrade was again acquired in 2017 by Formax Group and since then, the company started it’s transitioning into a fintech company focusing on research and development in stock, crypto-currency, binary options, forex, commodities, and trading performance.
ZuluTrade: Social Trading aka Copy Trading or Mirror Trading
Social, also known as copy or mirror, trading offers new and less skilled traders the opportunity to meet their trading objectives before attaining proficiency trading level. With social trading, inexperienced traders can use the trading decisions and strategies of experienced traders as the model for their own trading techniques and investment. There are a lot of benefits associated with social and copy trading, including insights into other trades and decisions, and the ability to learn on-the-go while trading.
ZuluTrade is one of the most popular and largest copy trading platforms in the world. The company started out as a copy trading platform in 2008 and today, it has over 1.5 million users with more than two hundred thousand signal providers to follow. The quality of its platform and other related services make ZuluTrade one of the best in the industry. ZuluTrade traders have access to the top quality advanced system of portfolio management and signal provider, with several features to personalize signal replication in an easy manner. Without a doubt, this social and copy trading platform has made a name for itself as a leader and a reliable platform among traders.
ZuluTrade Markets and Investment Products
In this ZuluTrade copy trade review, it is necessary to look at the different investment products offered on the platform. Considering the fact that the platform has a huge community of ZuluTrade brokers, traders can access various products:
Forex: ZuluTradeForex portfolio has a total of 21 currency pairs that are interrelated. Traders have the opportunity to choose their leverage, which depends largely on the ZuluTrade supported brokers.
ZuluTrade Cryptocurrency: ZuluTrade has also launched its auto-trading in cryptocurrency and currently, there is a growing number of trading strategies to implement on the platform. There are numerous experienced crypto traders from across the world.
Combos: The ZuluTrade Combos is another trading service offered by ZuluTrade. It is designed to improve risk reduction and diversification in trade portfolios. How does it work? The certified management portfolio team at ZuluTrade work to curate high-performance traders and group them in dynamic combinations (Combos) that match a range of risk appetites and strategies to follow. Users can, therefore, select from these diversified trading strategies to follow. Traders included in the ZuluTrade Combo have some qualities which include a win percentage of over 30%; long term positive return on investment, execution of over 100 trades, and stable trading activity of a minimum of 15 weeks.
Binary Option: In 2015, ZuluTrade also added binary options to its platform and for the duration of the period that this option was available, there were significant traders trading on this product category. It’s important to mention that Binary Option was discontinued in 2017 on ZuluTrade platform prior to the ban of sale and distribution of binary options to retail clients by ESMA in 2018.
CFD: In 2015, ZuluTrade added CFD to its list of offerings, giving traders the opportunity to trade in commodities, indices, silver, and gold, in addition to Forex.
ZuluTrade is a social trading network offering users unlimited access to a variety of trading platforms. As a network, it connects users to brokers and offers is the main service – copy trading. Other features you can explore on the platform include extensive trading resources and education, portfolio and risk management, and a range of tools that assist the traders to make their trading decisions. Zulu has its own trading platform known as AAAFxZuluTrade. The platform offers competitive trading fees and it’s open to all countries with the exceptions of USA, Puerto Rico, Quebec province, China, Cuba, Iran, Sudan, North Korea, Myanmar, and Syria, among others.
Supported Brokers in the US and UK
Currently, there are over 30 supported Zulutrade brokers on the platform and the list continues to increase on a regular basis. These brokers are categorized based on the platforms, country of regulation, minimum deposits, currencies supported, and commission. Brokers on ZuluTrade platforms that are supported in Europe include AAAFx, ActivTrades, AETOS, AvaTrade, Forex.com, FXCM, FXDD, GBE Broker, IKON Finance, STO, Traderstrust, Walbrook. Supported ZuluTrade brokers in the US include FXDD, FXCM, and Forex.com
The Social Charts on ZuluTrade is designed to help investors and traders communicate, exchange views, share insights and comments, tame the market, and explore various trends visually. Users on the platform can like and reply to comments posted by others, ask questions from their traders, and post their own messages.
The User Lists allows traders to categorize traders, tag and group them based on their performances. This feature also allows traders to share their Lists and choose strategies that fit their specific needs.
This feature allows traders to see the activities of other traders. Here, you can see who closes the trade and at which ZuluTrade spread and pips the trade is closed.
The Calendar feature gives updates on important upcoming events. You can filter economic events.
The Forex tools available on ZuluTrade platform include a currency converter, margin calculator, pip value calculator, and profit/loss calculator.
This covers a wide range of topics, including Traders Performance, ZuluTrade news, trading discussions, feedback & suggestions, beginners talk, and so much more.
The ZuluTrade Automator is like your personal assistant. It monitors your account 24/7 and notifies you when anything happens. It can also be set up to implement any action automatically.
The ZuluTrade blog is the news section of the platform. This is where you can find everything that is new on the platform as well as trading news across the world.
This is an account protection feature designed to monitor the behaviour of traders on the platform. It automatically eliminates a trader when it detects that a trading strategy has digressed from the expected loss profile. The ZuluGuard™ Capital Protection is also available for investors across the world and it is most critical for U.S. and European investors.
ZuluTrade Fees & Cost
You should know about all the fees and costs before you sign up to the platform. In this ZuluTrade copy trade review, we will also talk about the fees associated with using the platform. First, brokers on the platform charge commission per trade for linking your trading account to the ZuluTrade platform. This is in addition to the standard spread. If you’re using AAAFxZuluTrade, which is Zulurade’s own broker, the commission is zero. However, for other brokers, it can be as high as three pips. It’s important to mention that the ZuluTrade spread varies between brokers and the currency pair as well as the time of the day may also affect the spread.
Compared to many other social and copy trading platforms, ZuluTrade has a low minimum deposit prerequisite. There are some ZuluTrade brokers that require as low as $1 while some others require up to $300. The ZuluTrade demo account is free, and signing up for this gives you an opportunity to test-run the platform before you invest real money. With the demo account, you can also use the service of ZuluTrade demo account signal provider to get your account running.
Deposits and Withdrawals
Payment methods for both deposits and withdrawals on the platform differ and majorly depend on the broker you use. The options available include ZuluTrade MasterCard, PayPal, and Bank Wire Transfer. When it comes to deposit and withdrawal fees, this also depends largely on the broker used and does not have much to do with ZuluTrade platform itself.
Most traders already know that using leverage can increase their potential earnings. It is also important to note that the same leverage can increase your losses too. The rule of the thumb is that the higher the ZuluTrade leverage you use, i.e, if you use 1:1000, you may overtrade and if you have a high drawdown, there is a high chance that your account will hit stop out level. Therefore, it is recommended that traders use the leverage that they can comfortably afford to lose in case of loss.
ZuluTrade Mobile App
ZuluTrade app is available for iPhone and Android devices. It’s also possible for Windows mobile devices to download the trading app. The app offers the same features as the desktop version. You can view your trading performance, manually close trades, and review new ZuluTrade traders to copy. Basically, ZuluTrade app is functional and highly effective. There are continuous improvements being carried out with each update.
ZuluTrade offers two options of account; ZuluTrade demo account, and ZuluTrade live account. The demo account is designed for traders that want to try out the platform before using real money to trade. The demo account is fully functional and it’s the same as the live account. The only difference is that whatever profit or loss you make while trading on the demo account will not affect your real financial status.
Using ZuluTrade Account
When you log in to your account with your username and password, you will be redirected to “My Account” page. Here, you will find your personal information, including profile photo, name, account type (demo/real), account number, equity, and broker logo. There are other tabs that will be visible on the “My Account” page, including Position, History, Invite, Overall Profit, and Currency Select Currency Pairs, among others.
The “Position” tab is where the executed signals placed in your account by traders will be visible. You can see your current earnings and losses at specific points for every trade, and the summary of all your trades. The “History” tab allows you to see your full trading history, including opened and closed trades in your account. You can select the specific timeframe that you wish to see from the time you open your account until date. The “History” tab also has other tabs, including “Trade History Log” and “Canceled Orders Log”. The “Trade History Log” displays all the trades you’ve made and the “Cancelled Orders Log” displays the orders you made and cancelled in the course of the trade.
The “Invite” tab is where you can invite others to the ZuluTrade platform. You earn commissions on the trades of each user you invite. The “Overall Profit” tab displays all the profits you have made so far while using the ZuluTrade platform. The “Select Currency Pairs” is the section where you can select the specific currency pairs that you want to trade with. When you click the drop-down arrow, a list of currencies available will be displayed and you can select your preference.
How to Start Trading Live
The ZuluTrade live account has two options; classic and profit-sharing. The classic account is ideal for advanced users, who can become signal providers on the platform. Traders with the classic account benefit from fully personalized copy trading and standard volume-based commissions. The profit-sharing is perfect for inexperienced traders and those that desire to learn more by copying the trades of others. Signal providers get compensated when beginner traders ZuluTrade profit and they’re penalized when they lose. Whether you have a classic or profit-sharing account, you will have access to forex signals, charts, alerts, and data. You can learn more from the ZuluTrade tutorial at the platform.
ZuluTrade is regulated. It holds a Triple-A SA license from HCMC (Hellenic Capital Market Commission) in Greece. This means that the platform fully complies with the framework of the EU regarding auto trading service providers. It is critical to know that the fact that this platform is fully regulated does not mean there is no risk attached to using the platform.
This section offers basic information about choosing a trader to follow and how you can become a signal provider on ZuluTrade.
How to Choose a Trader to Follow
The actual process of choosing a trader to follow is simple. Visit the ZuluTrade platform and locate the “Trader” tab at the upper part of the page. Browse through the list of available traders and go through their statistics. You can choose to follow an individual trader by selecting your preferred individual and clicking the “Follow” button. You can also select a combination of traders to follow. To choose a trader to follow, the first thing is to look for a trader that has a proven profitable track record over a period of time. Check their details and be sure they are worth following.
How to Become a Signal Provider Trader?
Becoming a signal provider on ZuluTrade comes with a lot of benefits. For instance, you get 0.5 pips for each lot traded by a live trader that is following you. According to ZuluTrade, the average earning per standard lot is $4 per trade. This means if you have hundreds of followers, you can earn a significant commission at the end of the day. ZuluTrade becomes a signal provider is a truth. However, you have to fulfil certain prerequisites, which include maintaining the highest drawdown of less than thirty per cent; having an average of at least 3 pips per trade, and you must have traded on ZuluTrade for a minimum of twelve weeks.
ZuluTrade Review – Our Conclusion
Overall, ZuluTrade offers an interactive platform, great products and an easy to follow system for traders, irrespective of their experience levels. The platform is very user-friendly and using their proprietary Broker – AAAFxZuluTrade, investors get the best out of the platform. ZuluTrade not only created a platform they created a community that shares ideas, offers education and helps a novice trader to learn from best and become better. All this coupled up with a potential to invest and earn money makes ZuluTrade one of our favourite trading platforms.
Past performance does not guarantee future results, therefore, it is critical that you have a well-devised risk management system and an effective trading strategy in place.Visit Broker