Zulutrade is a leading copy and social trading platform that provides top-notch copy trading services across multiple instruments, including Cryptos, Stock, CFDs, Forex, Commodities and Indices. It aims to connect traders all across the globe and become the world’s largest social trading community. It provides a platform for beginners, where they can get some exposure to the markets and explore the opportunities with the help of copy trading. You get to trade forex with the very same strategies that are used by experienced traders on Zulutrade. Their trade positions will be copied to your account automatically and that will make up for the lack of experience for a beginner. Following the footsteps of top traders is easier with the transparent and algorithm based ranking system on the platform. Now, we will review the platform and discuss its features in detail so that you know everything about Zulutrade in order to get started.
ZuluTrade Review – Features
ZuluTrade Review – ZuluRank
The Zulu Ranking system of Zulutrade will be displaying all of the information about top traders on the platform allowing you to choose the best one for you from the list. The traders will enter the list only when they meet all the requirements based on strict criteria and the ranks will be constantly updated when ever there is a deviationin their performance. The ranking system is set up in a way that it continuously measures the performance ofthe trading system used by these traders in order in a transparent manner. The parameters that are taken into consideration for this ranking are as follows.
● ZuluTrade Review – Maturity – You get to know how much experience a trader has based on how long they have been trading on the platform and how long their trading system has been running for.
● ZuluTrade Review – Exposure – This will tell you about the risk profile of each trader based on how many trade positions will be open at the same time.
● ZuluTrade Review – Drawdown – This will tell you the maximum draw down of a trading system or in other words or the amount by which the trading capital has been reduced on account of trading losses.
The ranking system of Zulutrade plays a crucial role when it comes to choosing the best trader for copy trading. The Zulu Ranking system is completely computer generated which makes it free from any kind of human bias.
ZuluTrade Review – ZuluGuard
ZuluGuard is an account protection feature provided by Zulutrade and it works by monitoring the performance of the trading systems you choose to copy on a regular basis. It will automatically remove a trader when it detects that the drawdown is exceeding the expected limit. This feature is available to all investors and this unique feature will give enough protection to your trading capital. You just have to set a threshold limit for securing your capital and when the limit is hit, the ZuluGuard will step in and close all of the positions and disable the trader if their system seems to be the problem.
ZuluTrade Review – How To Use ZuluTrade
Since we have reviewed the unique features on the platform, now we will dive into the actual process of choosing a trader for copy trading on Zulutrade.
ZuluTrade Review – Step 1 : Signing In or Opening An Account
Zulutrade has a wide range of supported brokers to choose from and you must have a trading account with any of these brokers for copy trading on the platform. Then you can easily sign into Zulutrade with your trading account. If you don’t have an account yet, then you can directly go to the Zulutrade website and open an account with any of the supported brokers as per your preference. Zulutrade does not charge any fee for copying the trades of top traders and the only cost you will have to bear would be the spreads and commission charged by your broker. That is why it is important that you pick a broker wisely.
ZuluTrade Review – Step 2 : Open The Trader’s Tab
The next step is a crucial one and will determine your success in copy trading. You have to go to the Trader’s tab and choose a trader for copying. You can browse through the list of top traders and even use the advanced filter mode to only see the traders that meet your requirements in terms of investment levels and risk profile. You can also see the track record of their past performance and the number of followers they have. It will be good to pick a trader who already has many followers copying their trades. But please make sure that their trading system is feasible and suitable for you before following them. They will also provide a brief description about their trading strategy which is quite helpful.
ZuluTrade Review – Step 3 : Select The Trader
Now all you have to do is picking a trader based on your requirements and click the follow button on zulutrade. You also have to specify the preferred risk and the funds you wish to invest. You can follow these steps in a demo account first and see how it goes before you start trading for real.
Pros and Cons
ZuluTrade Review – Company Information
ZuluTrade is a copy and online social trading platform, and was founded by Leon Yohai in the year 2007.Today, it is one of the leading social trading platforms in the world that offer services all across the globe. Its headquarters are located in Athens, Greence, and it is regulated by HCMC. Their journey started back in theyear 2007 with an aim to make forex trading accessible to everyone. Fast forward to today, ZuluTrade has grown significantly and is partnered with top brokers around the world, and holds a repository of thousands of master traders. The ZuluTrade Group was awarded an EU Portfolio Management License from the European Union in 2015. The designation made the company a licensed portfolio management company in the EU adding to the credibility of the platform and earning the trust of traders all over the world.
ZuluTrade Review – Countries
Zulutrade has offices in 5 countries and provides its services in over 150 countries.
ZuluTrade Review – Trading Accounts
ZuluTrade Review – Classic
With ZuluTrade’s Classic accounts, you can perform both manual and copy trading. But to begin trading, you must first connect your Broker trading platform (ZTP, MT4 or MT5) to your ZuluTrade account. A classic account gives complete access to updating your trading signals, closing trades, locking a trader or trades, and using advanced features. Primarily, this account is recommended to advanced traders.
ZuluTrade Review – Profit Sharing
Profit-sharing accounts are specifically designed for copy-trading purposes through Zulutrade. You don’t require any trading experience to trade with this account. It is suitable for both new and advanced traders. You can choose any instrument in copy trade forex, cryptos, indices and commodities. Profit-sharing accounts are chargeable. There is a fixed feeof $30 in case you want to sign up for this account. In addition to that, you will be charged a 25% performance fee each time you make profits from copy trading.
ZuluTrade Review – ZuluTrade Deposit & Withdrawal
The trader’s deposit and withdrawal options are entirely dependent on the broker they use as it does not facilitate payment processing. It is not necessary that your base currency should be USD. You can also choose Euro, GBP, JPY and AUD as your base currency for deposits and withdrawals.
ZuluTrade Review – ZuluTrade Demo Account
Opening an account with ZuluTrade hardly takes two minutes. There are two ways to open an account. Either you can sign up with your Facebook/Google account, or you can go with filling in some personal details and then sign up. ZuluTrade offers two different types of demo accounts i.e, classic and profit sharing. After selecting your required trading conditions, such as balance, base currency, and leverage, you can click on“create my demo account.”
ZuluTrade Review – Contact and Customer Support
From email and online portals to phone, there are many ways you can contact ZuluTrade’s customer service. Their customer support is available 24/5. Spread across the globe, they have customer support in all regions and assist traders in their preferred language, including English, German, French, Italian, Spanish, Portuguese, Russian, Arabic, Chinese, Japanese and Greek. You can reach out to zulutrade’s customer support team from Sunday 21:00 UTC to Friday 22:00 UTC.
ZuluTrade Review – Account Opening
Opening an account with ZuluTrade is very simple. If you already have an account with one of the supported brokers, then you can just sign into Zulutrade and get started easily. If you don’t have an account yet, then youcan open a new one by filling in all of the information. The minimum deposit will depend on the broker you choose but generally you can start trading with a deposit as low as $300. Your trading account with Zulutrade will be activated in 3 to 5 days.
ZuluTrade Review – Conclusion
The idea here is exploring the markets with the edge that an experienced trader has. Those who are unable todevise a strategy on their own may benefit from this practice and learn a lot during the process. Building a trading system from a scratch may not be feasible for every beginner since all traders are different when it comes to learning ability and grasping power. So, those who struggle to get into the technical side of trading, or lack the time to get into these aspects can still make an entry to the markets as a trader with the help of copytrading platforms such as Zulutrade. It can be perfect for someone who wants to earn a passive income without spending a whole lot of time learning and practicing to become a professional trader.
But we can not deny the fact that copy trading does not guarantee profits for anyone who uses such systems.You are only choosing a trader based on their past performance and ranking, and we have no clue if the system will continue to generate profits when it comes to copy trading. Now, that is the risk you will be taking incase of social trading. But constantly monitoring the trader’s performance and their system will surely increase your chances of success in copy trading.
You are not really free from the risk even when you are just doing copy trading. The market risk is still there but you can atleast get rid of the risk that comes from lack of knowledge and experience in trading. Still, some levelof understanding and knowledge is needed to grow successful with copy trading. But you don’t need a vast level of knowledge like you would need when you decide to trade on your own. Many novice traders even tr yout different trade signals and EAs for making profits but copy trading is far more viable if we compare the successrate. Everyone who gets into copy trading may not grow successful but those who are able to properly use the social trading tools will have an edge over others.
ZuluTrade Review – FAQs
You can also trade manually and that won’t have an affect on the positions that are opened inautomated trading.
You can copy more than one trader but the investment levels and risk profile should beconsidered.
No. You must sign up with one of the supported brokers in order to start copy trading withZulutrade.
Usually your trading account will get activated in 3 to 5 days and you can start trading after that.
No. You don’t have to share your profits with anyone.
You can change the trader that you are copying whenever you want. You can simply unfollowthem.
Yes but there is a strict criteria which one has to meet inorder to get to the top traders list forcopy trading. They will be measured against the performance standards before being added tothe list.
Zulutrade does not charge any fee for copy trading and all you have to pay is the spreads andcommissions charged by your broker