ZuluTrade


Zulutrade Review 2020 - A Must Read Before Sign Up

zulutradeZuluTrade is a popular copy trading platform founded in 2007 by Kosta Eleftherious and Leon Yohai, where users can share and copy signals from other traders. Initially, it grew out of the idea of building a trading software that would allow a user to copy the forex trading signals of the best forex brokers. Since then, the platform has grown into one of the most efficient and popular social trading platforms. It currently has a global user base in the millions.

The platform allows traders worldwide to connect their accounts and share their strategy with other ZuluTrade users. Strategies are ranked according to risk and ROI (Return on investment). Users can further filter strategies by other factors such as profit factor, average wins & losses, drawdown and duration.

 


 
zulutrade overview
Zulutrade Website

Overview:

  • Minimum Deposit: 1$
  • Maximum Leverage: 1:1000
  • Tradable Assets: CFD, Indices, Forex, Cryptocurrency
  • Regulated by: Hellenic Capital Market Commission (HCMC)
  • Demo Account: Yes

Note: Your capital is at risk


 

Brief History

The platform was originally founded in 2007 as a simple copy trading software. By 2009, the platform had added over 4500 signal providers. In 2014, they redesigned their official website bringing about a few changes like adding a number of features, most notably, ZuluGuard. It also had about 120 employees with 40 of them working in customer support. It announced a partnership with SpotOption, creating a social trading platform for binary options.

They received an EU Portfolio Management License from the European Union, making the company both a respected and legitimate company in the eyes of traders at large.

 

Minimum Initial Deposit

Compared to many other trading platforms, ZuluTrade’s minimum deposit requirement is quite low. It can vary among the many brokers available with ZuluTrade starting from as low as $1. Other brokers may require a minimum initial deposit of 300 AUD, £210, $300, 25,000 JPY or €250.

 

 

 

Spreads and Commissions

For linking the user’s account to ZuluTrade, brokers charge a commission per trade in addition to normal spreads. This can start from as low as 0 when using ZuluTrade’s own broker, Greece-based AAAFx or It can be up to 3 pips with other brokers.

The Spreads can also be influenced by the currency pair chosen and the time of the day the user is trading. For instance, high volatility can often cause brokers to widen spreads.

 

ZuluTrade Leverage

Leverage, when used right can increase a trader’s potential earnings. However, it also has the opposite effect of amplifying a trader’s losses, opening them up to margin calls. Normally, higher leverage cause margins to go lower, which results in an increase in both margin and free margin levels. The recommended leverage is 1:100.

 

Other Trading Fees

There are some other additional costs that the user has to be aware of before signing up with ZuluTrade. This is quite an essential factor which shouldn’t be ignored. There can be an overnight/swap fee charged to the user’s account, which depends on the currency pair traded by the user. These costs can cut into profits if charged over a long period of time. However, Intraday traders aren’t usually charged with such fees.

Besides the above, there are no other additional costs associated with ZuluTrade. The traders, whose signals are copied by ZuluTrade users are compensated directly by ZuluTrade as part of the commission.

 

How the Trading Platform Works

ZuluTrade’s trading platform currently provides trading services for forex, certain commodities, binary options and certain stocks and indices. ZuluTrade’s user base can be categorized into two groups, Signal providers and Followers.

  • Followers: Users falling into this category can copy the strategies of signal providers, as well as copy strategies from the portfolios created by other followers.
  • Signal providers: Signal providers are experienced traders who offer their strategies for copying by followers. Based on the success of their strategies, signal providers are compensated by the platform.

 

 

 

ZuluTrade Features

ZuluTrade is packed with a bunch of powerful features listed below.

  • Automator: This feature was introduced in 2016. It notifies a user through emails as well as automatically executing actions when certain events occur. It is based on the functions the user adds. For example, a lock current profit can be added automatically by the user if the profit or loss reaches a certain level. This helps the user to minimise risk automatically.
  • Social network features: This includes the comment sections and the forums where users can offer advice, insights and review different signal providers.
  • Lock Trade: This feature allows a user to verify a trade execution once the signal has been received.
  • ZuluScript: This feature enables the user to create scripts to form parameters for trading bots. Also commonly known as Expert Advisors, these scripts provide trading automation, allowing the user to automatically execute far more trades than manually possible.
  • Margin Call-o-Meter: This feature predicts the chances of a user’s account running out of money such as when a user gets a margin call. This helps users ascertain how much of their capital is at risk. However, it should be noted that this should not replace an effective money management system as it’s just an indicator.
  • ZuluGuard: This unique feature helps Copy Traders protect against any erratic trades opened by the traders they are following, making it an effective risk management tool.
  • Cryptocurrencies: This is a relatively recent addition to the platform. This feature provides information regarding different cryptocurrencies to the users.
  • Calendar: This feature provides a summary of all key events regarding financial markets around the world.
  • ZuluRank Calculation: This feature helps a user to choose a signal provider on ZuluTrade, by ranking traders based on a number of factors such as Sharp Ratio, Low Drawdowns, High profits, Age of signal provider, Frequency of the trader’s login, length of time trades stays open and amount of trading activity.

 

 

ZuluTrade Mobile App

ZuluTrade comes with its own mobile app for iPhone and Android devices. It is also available for windows mobiles and tablets. The mobile application helps users to view their performance, close trades manually and review new traders to copy. Additionally, the “real-time” motion allows a user to manage their risk settings directly from the app.

ZuluTrade Apps

 

Note: Your capital is at risk

 

 

ZuluTrade Account Types

Users have two options when they decide to open a live account. Classic, or Profit Sharing.

  • Profit Sharing: Beginners are recommended to open a profit sharing account as they get to learn by copying other traders. Traders are usually penalised when they lose, but compensated when they profit. Users can also enjoy reduced commissions.
  • Classic: Classic accounts are recommended for advanced users, where they can benefit from fully-customised or manual copy trading, along with standard commissions based on volume. However, users need to be sufficiently experienced before they decide to open a signal provider account.

 

It should be noted that both account types give users access to data alerts, charts, forex signals and allows straightforward account maintenance. Users can simply head over to the “my account” section to get access to all the basic functions such as reviewing performance rankings as well deleting their account. Once the user has decided which live account to open, they will be required to choose between different supported brokers.

 

ZuluTrade Demo Account

Besides live accounts, ZuluTrade also offers a fully functional, easy to use demo account. Users simply need to enter their name, email address, phone number, location, leverage, preferred base currency, and virtual account balance. After receiving the demo login credentials, users can conduct in-depth trading analysis themselves and follow trading experts. Users can find the best settings, brokers, tips and tricks from the social features of expert traders.

 

Note: Your capital is at risk

 

Methods of Payment

ZuluTrade provides a host of funding and withdrawal methods, which varies between the brokers chosen. These include ZuluTrade MasterCard, bank wire Transfers and PayPal. Payment commissions and withdrawal fees also tend to vary from broker to broker.

 

ZuluTrade Additional Features

In Addition to the main features, ZuluTrade provides some additional features such as Profit calculator, margin calculator, pip calculator, currency calculators, economic calendar and access to news.

ZuluTrade also provides numerous educational resources in the form of training videos, user guides, tutorials and PDFs. This can be a major help to beginner users that are starting their trading journey with ZuluTrade. It also helps them how to choose a broker from a long list of supported ZuluTrade brokers.

 

ZuluTrade Safety and Security

Various users in review forums have highlighted ZuluGuard as an efficient safety feature. It offers effective account protection by monitoring each trader’s behaviour and can remove a user when it detects a draconian trading strategy. This protects the user’s account and income from actions by erratic traders. Users can manually set the ZuluGuard protection feature by going to the Advanced mode in the account settings section.

 

ZuluTrade Regulations and License

ZuluTrade is a globally established brand which is a regulated entity in the EU and Japan as they provide their services to millions of users worldwide. ZuluTrade is EU regulated under the Hellenic Capital Market Commission(HCMC) with the license number 2/540/17.2.2010. their copy trading platform is provided by Triple A Experts SA. Thus ZuluTrade complies with the directives and regulations for auto trading service providers.

ZuluTrade allows traders the ability to connect their own brokerage account, when providing copy signals. They have to choose from a set of over 70 regulated brokers that are compatible with the ZuluTrade platform. An updated list can be found on ZuluTrade’s official website.

It should be noted that the above regulations do not automatically guarantee that traders would receive high pay-out without any risk. It’s simply an affirmation that the platform complies with EU framework when it comes to auto trading service providers.

 

ZuluTrade Benefits

Compared to other platforms, ZuluTrade has impressed the trading community with a number of benefits listed below.

  • ZuluTrade has a huge collection of traders from different countries for users to choose from.
  • ZuluTrade provides a free and fully functional demo account which is perfect for beginners to test and get familiar with a real trading environment.
  • Some Social trading networks limit user’s access to the last 50 to 100 trades. However, to ensure a high degree of transparency, ZuluTrade provides information on all historical trades.
  • Reviews for ZuluTrade’s forex trading indicate that users on the whole are impressed with the number of performance indicators and graphs which users can use to help evaluate signal providers.
  • The platform offers comparatively low ongoing fees. Users just have to pay for the spread. Minimum deposits start from a few hundred dollars and there are no entry costs involved.
  • ZuluTrade provides a relatively effective review process by allowing users to directly comment on the signal provider’s profile page.
  • Users have access to cryptocurrencies as well.
  • ZuluTrade provides easy to use, stream-lined mobile apps.
  • ZuluTrader updated many of their policies to increase investor protection in 2014. This was done to stay in line with newer EU legislation. EU residents are now restricted to view the top 1000 traders, each of whom comply with stringent criteria, demonstrating consistency and reliability. This in turn has forced traders to aim to meet these stricter rules.

 zulutrade platform

 

ZuluTrade Drawbacks

In the course of this review, it wouldn’t be fair if certain drawbacks of the platform are not made known to potential future users.

  • It should be known that there more inconsistent traders in number than there are successful signal providers.
  • Unlike users who have to risk a certain amount of capital when copying trades, the signal providers themselves aren’t required to use their own capital. This is because they can use simulated funds when providing a signal, which increases the user’s risk.
  • Beginners may find it difficult when employing effective money management systems. This is especially challenging for traders dealing in gold, CFDs or cryptocurrency trading.
  • To select an effective collection of traders, users require significant amount of monitoring.

 

 

ZuluTrade Trading Hours

ZuluTrade’s markets are operational from Sunday 22:00UTC till Friday 22:00 UTC. For eastern daylight saving, the markets open on Sunday at 21:00 UTC and close on Friday 21:00 UTC.

 

ZuluTrade Customer Support

Users can simply head on over to the ZuluTrade official homepage if they have any account requests or technical issues. They provide a live chat option that is available 24 hours a day. ZuluTrade additionally provides email and phone support to ten countries as well as a 24/6 hotline.

 

ZuluTrade Comparisons with Competitors

ZuluTrade excels when compared to many of its competitors.

  • ZuluTrade vs myfxbook: Myfxbook is a well-known automated analytical tool which currently supports over 100 brokers, enabling traders to track, analyse, compare and share their trading activities. Compared to ZuluTrade, it has a higher number of regulated, world renowned brokers under its collection. Even though ZuluTrade provides many of the details which users can use while selecting brokers, myfxbook’s list is more accepted around the world. However, myfxbook does not provide any of the other functions that ZuluTrade provides, including social trading and copy trading.
  • ZuluTrade vs Mirror Trader: Tradency Mirror Trader is a financial technology provider platform, used by many major brokers. It allows investors to copy signals from other traders, which is where it gets compared with ZuluTrade. It also allows traders to send signals from their accounts to different trading platforms. This system is more suited for users running automated trading systems and require manual intervention from time to time. However, it falls short when compared to ZuluTrade, as it does not possess any social interaction capabilities, ratings, forums, or comments.
  • ZuluTrade vs eToro: eToro is probably one of the most well-known online broker and social trading network. It does not use any 3rd party broker which is why they can offer slippage of almost 0 pips on most trades. Spreads however, are not as competitive as available in some other brokers. One key difference with ZuluTrade is the risk management of the platform. In eToro, when a user copies the trades of a trader, they are proportionally executed on the amount the user assigns to that particular trader. Users can however still increase leverage if they want a riskier approach. Also, Automated traders are absent as compared to ZuluTrade, because users have to use the eToro interface to enter trades. Another aspect where eToro falters is the level of transparency offered and the way data is presented.

 

 

How to Become a signal provider?

Being a signal provider gives a user a chance at considerable success. However, even in the educational resources provided, ZuluTrade fails to accurately explain how to become a signal provider. A signal provider gets 0.5 pips per lot traded by a ZuluTrade user following him/her. The weighted average is calculated around $4 per trade, per standard lot. This adds up to significant commissions if a signal provider accumulates around a hundred followers.

To be a signal provider, users have to meet the following criteria

  • Average pips per trade – Greater than 3 pips
  • At least 12 weeks of trading on the ZuluTrade platform.
  • Maximum Historic drawdown must be less 30%

 

 

Some tips for being a signal provider in ZuluTrade

  • Users should upload a professional profile photo. It helps in building trust.
  • Trading with a real money account will help other users to trust the decisions taken by the user in question.
  • The trading strategy explanation should be clear and concise. For instance, how followers should invest
  • Signal providers should strive to meet all criteria present in EU guidelines, especially if they want to cater to the European market.
  • Signal providers should avoid scalping strategies due to broker slippage.
  • Signal providers should try to answer follower queries in the swiftest way possible.

 

Users can experiment with a demo account first to experience how signal providers communicate and trade with others.

 

ZuluTrade Brokers We Recommend

  • BlackBull Markets: Founded in 2014, BlackBull Markets is a New Zealand based online broker, part of the ZuluTrade list of brokers. It is regarded as a true ECN, with no dealing desk. They provide institutional-grade trading conditions to their clients in Forex, CFDs, commodities, etc. It has been featured as part of the Deloitte Fast 50 List of the fastest -growing companies in 2019.

     For more please read our BlackBull Markets Review.

  • IC Markets: Founded in 2007, IC Markets is an Australia-based online retail contracts for difference and forex broker. It specialises in CFDs on indices, commodities, forex, bonds and equity markets, in both Europe and Asia. In 2018, IC markets reported a record average daily volume of US $19.4 billion in May.

     For more please read our IC Markets Review.

  • VantageFX: Vantage FX is another well-known ZuluTrade broker, which is regulated under CIMA. It provides users access to the global forex market through top tier Fx liquidity providers. VantageFX provides RAW ECN spreads as well as an interbank grade, making it an institutional-grade trading service.

     For more please read our Vantage FX Review.

 

Conclusion

Overall ZuluTrade.com offers a service that is enticing to traders of all experience levels. It provides access to world-class brokers through a safe, streamlined, comprehensive platform. The growing number of ZuluTrade users is a proof of that. ZuluTrade accepts traders from South Africa, Australia, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, India, France, Germany, Norway, Sweden, Thailand, Canada, United States, United Kingdom and many other nations around the world.

 

 

Q&A ZuluTrade Questions

1. Is ZuluTrade.com Scam or legit?

ZuluTrade is a reliable and legitimate trading platform, backed by international regulatory bodies. It follows all the guidelines under the EU framework when it comes to providing services to customers in the European Union.

2. Where is the ZuluTrade Login?

The login option can be found in the upper right corner of the official website. It is right beside the register button.

3. Is ZuluTrade offering a welcome bonus?

Currently, ZuluTrade is offering a joining bonus of $100 for registering with ZuluTrade and AAAFx. (T&C Applies).

4. How much are the ZuluTrade withdrawal fees?

Users are charged a fee of $20 when they withdraw using the ZuluTrade MasterCard. There is a $45 fee when withdrawing through wire transfer outside of the US for customers based in the United States. Traders using PayPal are charged with a $20 fee for withdrawals up to $500. Traders are charged a 3.9% fee in addition to the $20 if the withdrawals are above $500.

  

Note: Your capital is at risk