ZuluTrade Review
ZuluTrade is a social and copy trading platform that allows users to mimic other experienced traders’ trades and investment strategies, known as signal providers. There are two users on the platform; the signal providers (trading experts) and the followers.
So, how does ZuluTrade work? What are the essential 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? We will explore these and many more questions in this ZuluTrade review.
ZuluTrade Review – Company History
ZuluTrade was launched in 2007 in Virginia, USA, by Leon Yohai and Kosta Eleftheriou. Before the launch of the platform, Yohai was trading with FXCM. So he decided to create 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 2009, the company had grown to accommodate more than 4,500 signal providers whose trading strategies could be imitated by the user base on the platform. When writing this ZuluTrade review, the company had attained a user base of over 1.5 million and carried out a trading volume of more than $1.2 Trillion.
In 2014, ZuluTrade was acquired by Market Crew Investment Advisor Co., Ltd. In 2015, the ZuluTrade platform obtained an E.U. Portfolio Management License, making the organization a licensed portfolio manager in the European Union. ZuluTrade was again acquired in 2017 by Formax Group.
Since then, the company started transitioning into a fintech company focusing on research and development in stock, cryptocurrency, binary options, Forex, commodities, and trading performance.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
ZuluTrade Review: Social Trading aka Copy Trading or Mirror Trading
Social trading, also known as copy or mirror trading, offers new and less skilled traders the opportunity to meet their trading objectives before attaining proficiency trading. With social trading, inexperienced traders can use experienced traders’ trading decisions and strategies to model their trading techniques and investment.
There are many 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 most prominent copy trading platforms globally. The company started 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 portfolio management system and signal provider, with several features to personalize signal replication quickly. Undoubtedly, this social and copy trading platform has made a name for itself as a leader and a reliable platform among traders.
ZuluTrade Review: Markets and Investment Products
This ZuluTrade review is necessary to look at the different investment products offered on the platform. Because the platform has a massive community of ZuluTrade brokers, traders can access various products:
Forex
ZuluTrade Forex portfolio has a total of 21 interrelated currency pairs. Therefore, traders can choose their leverage, mainly on the ZuluTrade supported brokers.
ZuluTrade Cryptocurrency
ZuluTrade has also launched its automated trading in cryptocurrency, including but not limited to Bitcoin, Ethereum, Ripple and other Altcoins. Currently, there are many trading strategies to implement on the platform. In addition, there are numerous experienced crypto traders from across the world.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
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-performing 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. In addition, traders included in the ZuluTrade Combo have some qualities, including 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. For the period that this option was available, significant traders were trading on this product category. However, it’s important to mention that Binary Option was discontinued in 2017 on the ZuluTrade platform before the ban of sale and distribution of binary options to retail clients by ESMA in 2018.
Contracts for Difference (CFDs)
In 2015, ZuluTrade added CFD to its list of offerings, allowing traders to trade in commodities, indices, silver, and gold, in addition to Forex.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
ZuluTrade Review – Platform Features
ZuluTrade is a social trading network offering users unlimited access to various trading platforms. As a network, it connects users to some of the best CFD brokers and shows is the leading 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 traders in making their trading decisions. In addition, ZuluTrade has its broker known as AAAFx.
The platform offers competitive trading fees, and it’s open to all countries with the exceptions of the USA, Puerto Rico, Quebec province, China, Cuba, Iran, Sudan, North Korea, Myanmar, and Syria.
Social Charts
The Social Charts on ZuluTrade help investors and traders communicate, exchange views, share insights and comments, tame the market, and visually explore various trends. In addition, users on the platform can like and reply to comments posted by others, ask questions from their traders, and publish their messages.
User Lists
The User Lists allows traders to categorize, 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.
TradeWall
This feature allows traders to see the activities of other traders. Here, you can see who closes the trade and at which ZuluTrade spreads and pips the trade is closed.
Calendar
The Calendar feature gives updates on important upcoming events. In addition, you can filter economic events.
Forex Tools
The Forex tools available on the ZuluTrade platform include a currency converter, margin calculator, pip value calculator, and profit/loss calculator.
Forum
This covers a wide range of topics, including Traders Performance, ZuluTrade reviews by other users, trading discussions, feedback & suggestions, beginners talk, and so much more.
Automator
The ZuluTrade Automator is like your personal assistant. It monitors your account 24/7 and notifies you when anything happens. You can also set it up to implement any action automatically.
Blog
The ZuluTrade blog is the news section of the platform. This is where you can find everything new on the platform and trading news across the world.
ZuluGuard™
This is an account protection feature designed to monitor the behaviour of traders on the platform. It automatically eliminates a trader when it detects a trading strategy strayed from the expected loss profile. The ZuluGuard™ Capital Protection is also available for investors worldwide, and it is most critical for U.S. and European investors.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
ZuluTrade Fees & Costs
You should know about all the fees and costs before signing up for the platform. In this ZuluTrade review, we will also discuss 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. The commission is zero if you’re using AAAFx, which is Zulurade’s own broker.
However, it can be as high as three pips for other brokers. It’s important to mention that the ZuluTrade spread varies between different CFD brokers and the currency pair, and the time of the day may also affect the spread.
ZuluTrade has a low minimum deposit prerequisite compared to many other social and copy trading platforms. Some ZuluTrade brokers require as low as $1, while others require up to $300. The ZuluTrade demo account is free, and signing up allows you to test-run the platform before investing real money. With the demo account, you can also use the service of the 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 MasterCard, PayPal, and Bank Wire Transfer. When it comes to deposit and withdrawal fees, this also depends mainly on the broker used and does not have much to do with the ZuluTrade platform itself.
ZuluTrade Leverage
Most traders already know that using leverage can increase their potential earnings. However, 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 they can comfortably afford to lose in case of loss.
Supported Brokers in the U.S. and U.K.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
There are over 30 supported ZuluTrade brokers on the platform, and the list continues to increase regularly. These brokers are categorized based on the platforms, country of regulation, minimum deposits, currencies supported, and commission. Brokers on ZuluTrade platforms supported in Europe include AAAFx, AvaTrade, Forex.com, ActivTrades, AETOS, FXCM, FXDD, GBE Broker, IKON Finance, STO, Traderstrust, Walbrook. ZuluTrade supported brokers in the U.S., including FXDD, FXCM, and CityIndex.
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. The ZuluTrade app is functional and highly effective. Continuous improvements are being carried out with each update.
Is ZuluTrade Regulated?
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 E.U. regarding auto trading service providers. However, knowing that this platform is fully regulated does not mean there is no risk attached to critical use.
How To Open ZuluTrade Account
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.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
ZuluTrade Account Verification
When you log in to your account with your username and password, you will be redirected to the “My Account” page. Here, you will find your personal information, including profile photo, name, account type (demo/real), account number, equity, and broker logo. In addition, other tabs 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 traders’ executed signals placed in your account will be visible. For example, you can see your current earnings and losses at specific points for every trade and summarise all your trades. The “History” tab lets you see your entire trading history, including opened and closed trades, in your account. In addition, you can select the specific timeframe you wish to visit from when you open your account until the 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 while using the ZuluTrade platform. Finally, the “Select Currency Pairs” section is where you can select the specific currency pairs you want to trade with. When you click the drop-down arrow, it will display a list of currencies available, and you can select your preference.
How to Start Trading with ZuluTrade
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.
According to ZuluTrade reviews, signal providers get compensated when beginner traders make money, penalizing them when they lose. So whether you have a classic or profit-sharing account, you will have access to forex signals, charts, alerts, and data. In addition, you can learn more from the ZuluTrade tutorial on the platform.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
ZuluTrade Traders
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. First, visit the ZuluTrade platform and locate the “Trader” tab at the upper part of the page. Next, you can browse through the list of available traders and go through their statistics. Then, 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 with a proven profitable track record over some time. Then, check their details and be sure they are worth following.
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed
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 following you. In addition, our research shows in the ZuluTrade review that 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.
So 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 three pips per trade, and you must have traded on ZuluTrade for a minimum of twelve weeks.
Final Verdict
Pros / Cons
- Copy Top Performing Traders
- Unique Advanced Features
- Traders Combos
- Portfolio Diversification
- Automated or Manual Settings
- Market Risk
- No Option Trading
- Broker Specific Restrictions
ZuluTrade Review –
Overall, after this ZuluTrade review, we conclude that the company developed a genuinely interactive platform, great products, and an easy-to-follow system for traders, irrespective of their experience levels. In addition, the platform is very user-friendly, and using their proprietary Broker – AAAFx International, investors, get the best out of the platform.
In addition, ZuluTrade created a community that shares ideas, offers education, and helps novice traders learn from best and become better. All this, coupled with a potential to invest and earn money, makes ZuluTrade one of our favourite trading platforms.
Past performance does not guarantee future results. Therefore, you must have a well-devised risk management system and an effective trading strategy in place.
Zero Commissions
? Best for Social Trading
? Easy with Copy Trading
✅ 1000+ Tradable Assets
?? US Clients Allowed