ZuluTrade Review 2020

ZuluTrade Summary

zulutrade

ZuluTrade is a copy trading platform that was founded in 2007, headquartered in Greece. This financial technology, or fintech, company allows users to copy trades from other traders who have an extensive trading background and use the trades as their own.

The goal of ZuluTrade was to respond to the lack of platforms that allows traders to audit globally and at a simultaneous rate. ZuluTrade has allowed traders to interact with other traders and share their strategies among the trading community.

The platform of ZuluTrade has evolved into a service that transforms financial advice from expert traders into executed trades. You will also be able to easily navigate and select the trades that you are interested in, ZuluTrade giving you an open environment that users all over the world can connect and share their trading knowledge.

ZuluTrade plans on becoming the world’s biggest and social copy trading community in the world, with a priority on client preference.

ZuluTrade Main Features
🛍️Established in:
2007
🛍️Headquarters:
Greece
⚖️Regulations:
HCMC, CySEC, FSA
⚖️Country of regulation: Greece, Cyprus, Japan
đź’°Minimum Deposit:
1$
🎮Platforms:
MT4 , MT5 , cTrader

Pros

  • Regulated by the Hellenic Capital Market Commission (HCMC), CySEC, and the FSA in Japan
  • Low minimum deposit amount required
  • Stores client funds in segregated accounts
  • Demo Account available
  • Easy to open an account
  • Wide range of trading tools and features
  • Islamic account available
  • Selection of trading accounts

Cons

  • Overnight fee required
  • Simple process to become a signal provider, increasing risk for users
  • Inconsistent traders is common
  • Not suitable for beginners 

 

When Did ZuluTrade Start?

ZuluTrade started on its auto trading platform in 2007, which allows users to duplicate trading strategies from advanced traders as your own. In 2009, there were over 4,500 expert traders, who were the first batch of ZuluTrade’s copy trading service.

In 2012, ZuluTrade designed its website from scratch and added new features, allowing the platform to expand. In addition, in 2014, ZuluTrade expanded its vision to Japan through an acquisition of a financially regulated investment advisor, known as Market Crew Investment Advisor Co., Ltd. The automated trading platform also announced joint cooperation with local Japanese Forex brokers.

In 2017, ZuluTrade changed its image once again, since it was purchased by Formax Group. Formax Group is the company that holds the patents utilized by ZuluTrade. This transition has allowed ZuluTrade to branch out into more of a financial technology, focusing on research and development in cryptocurrencies, stocks, and trading tools. With Formax Group, ZuluTrade managed to expand to the rest of Asia, and not only Japan.

 

Safety & Regulation

The ZuluTrade auto trading platform is regulated as a copy trading solution for brokerage firms in the European Union. ZuluTrade has managed to acquire a Triple-A Experts SA license from Greece’s Hellenic Capital Market Commission (HCMC).

The Hellenic Capital Market Commission (HCMC) allows the capital market to operate smoothly and safely, without any widespread financial risk. With ZuluTrade, you can guarantee that this auto trading platform fully obliges with the European Union regulations for automated trading service providers. This means that brokerage firms do not have to add an extra layer of financial regulations to provide this platform to their users.

In addition to the HCMC regulations, the ZuluTrade Japanese additional branch is regulated by the Kanto Financial Bureau (KFB) as an investment consultant. Alongisde the KFB, ZuluTrade is regulated with the Commodity Futures Trading Commission (CFTC) in the US as an IB and a commodity advising body.

Pros

  • Regulated by the Hellenic Capital Market Commission (HCMC), Kanto Financial Bureau (KFB), and the Commodity Futures Trading Commission (CFTC)
  • Allows a service to unfollow signal providers automatically if their strategy changes

Cons

  • None

Why Use ZuluTrade?

ZuluTrade is a social copy trading platform that allows you to duplicate trades or expert traders and use it as your own. You also have the option to discuss your trading strategies and share your trading knowledge with other users on the ZuluTrade platform. Along with the open and cooperative environment, ZuluTrade provides a variety of performance indicators and graphs to help analyse expert traders, or better known as signal providers.

Since ZuluTrade is a social trading platform, it allows users to comment on the profile of the signal provider. This will aid in evaluating the signal provider and establishes an efficient review process on the signal provider’s trading activity. ZuluTrade allows users an auto trading platform in CFDs, Forex and cryptocurrencies, a new feature that is unheard of in automated trading service providers.

Also, if you are a trader who prefers dealing with trades on the go, then you will appreciate the user-friendly mobile application of ZuluTrade.

Pros

  • Fast opening process
  • Provides Demo Account
  • The low minimum deposit amount
  • Regulated by multiple financial regulators
  • Variety of brokers available for selection
  • Multiple trading accounts
  • A wide selection of signal providers

Cons

  • Easy process to become a signal provider
  • Overnight fee charged
  • Commission and normal spread charged per trade with ZuluTrade

What Are The Advantages?

With ZuluTrade, there is a wide range of benefits that will help you in many ways. The first benefit is that there is a free and unlimited Demo Account that allows you to become familiar with the auto trading platform, and financial markets in general. With ZuluTrade, you will have wide exposure to many traders that you can follow and duplicate trades, which would lead to larger signal provider earnings.

You will find that you can choose from a long list of different brokers that are headquartered in different countries. This makes ZuluTrade different, and better than most auto trading platforms because of its variety. There are other social trading platforms that only enable you to view the last 50 to 100 traders in your performance portfolio. However, to guarantee transparency, all previous and current trades are available for display with ZuluTrade. You will not be restricted from looking at any of your old trades.

ZuluTrade provides traders with low trading fees, where you will only be charged for the spread. You, as a ZuluTrade member, will not have to consider paying for entry costs or any transaction fees. In addition, the minimum deposit required is only a couple of hundred dollars and never higher.

Pros

  • Guarantees transparency by allowing viewing of past performance
  • Low trading fees
  • No non-trading fees
  • A wide selection of different brokers
  • Range of signal providers

Cons

  • Commissions charged per trade

Who Is ZuluTrade For?

The ZuluTrade auto trades platform is a social and copy trading platform that allows you access to an online trading community. This trading platform enables you to duplicate trading strategies of expert traders in financial markets. The target audience of ZuluTrade are of two types: signal providers, who are expert traders, and followers.

Signal providers are traders with extensive trading knowledge and an impressive trading track record. Followers are traders who are allowed to duplicate the strategies of signal providers and other followers.

ZuluTrade tackles both novice traders and experienced traders, meaning that it is welcome for everyone. Experienced traders will be able to offer their expertise and trading knowledge for followers to duplicate. As for novice traders, they will be able to learn through a hands-on approach about the way financial markets and trading works.

ZuluTrade gives the option to traders that they can start executing trades like a pro, without having to start from the bottom. With copy trading platforms, novice traders can take a shortcut to the top without facing any financial.

 

Services of ZuluTrade

One of ZuluTrade’s many attractive features are the wide range of services it provides for its users.

ZuluTrade Services
Combos Charts Social Charts
Blog User Lists
Trade Wall Calendar
Forex tools Forum
Automator ZuluGuard
LockTrade ZuluScript

Pros

  • Allows copy trading of cryptocurrencies
  • Provides a range of trading services and features
  • Fast execution on all its services
  • Allows you to interact with the trading community
  • Practical learning experience approach

Cons

  • Inconsistent traders
  • Must be a member in order to utilize the services

This auto trading platform provides a service known as ZuluGuard, which automatically unfollows a signal provider if the trading strategy of the signal provider changes. This guarantees that the follower not inadvertently make a wrong trade by following a new strategy.

LockTrade is another service that enables traders to confirm and verify a trade’s execution after the signal is received. This means that you will be able to track your activity and confirming that the platform is following through with the strategy you selected. You will also find different features that resemble those of a social network platform, where you can comment on posts and interact on message forums.

ZuluTrade also offers a feature known as ZuluScript that enables traders to create scripts that are defined as criteria for trading robots, or as you better know them as Expert Advisors (EAs) to make trades automatically.  In addition, ZuluTrade offers a binary option social trading platform, which is not common to find in auto-trading and social trading platforms.

ZuluTrade provides traders with performance indicators and graphs, as a form of evaluation to the performance of the signal provider’s trading activity and performance. This will give you a more transparent trading experience while copy trading with ZuluTrade.

>ZuluTrade Fees

With ZuluTrade, you have the option of selecting from a range of base currencies, according to your Forex broker. This means that ZuluTrade does not limit you to one base currency, but allows you to deposit and withdrawal funds based on your existing base currency in your trading account. You will not have to convert your funds, meaning that ZuluTrade values your comfort.

Pros

  • All interactions are free
  • Range of base currency according to your trading account
  • The low minimum deposit amount
  • No non-trading fees
  • No withdrawal and deposit fees from ZuluTrade

Cons

  • High trading fees for users
  • Charges commission + spread per trade
  • Overnight fee required

What Is The Minimum Deposit?

ZuluTrade has a low minimum deposit amount required, depending on the broker you are dealing with. There are brokers who are partnered with ZuluTrade that will require a minimum deposit of 1USD, up to brokers who will require a minimum deposit of 300USD. However, it does not get any higher than that.

You also have the option of joining a free trial to try out ZuluTrade, an unlimited and free Demo Account. The Demo Account is a hands-on approach on how you can use ZuluTrade and watch the ZuluTrade auto trading platform in action without facing any financial risk.

What Are the Charges Related To Use ZuluTrade?

Although ZuluTrade does not have any non-trading fees that are even above average, there is a high cost when it comes to trading fees. You will have to consider that you will be charged with a commission for every trade for linking your trading account to ZuluTrade, in addition to the normal spread that requires payment.

You will also need to consider that you may be charged an overnight fee, for keeping your position open for longer than a day. With ZuluTrade and any other auto trading platform, you will need to pay an overnight fee.

Deposit Fees and Withdrawal Fees
Deposit Fees 0USD
Withdrawal Fees 0USD

Using ZuluTrade

With ZuluTrade, all it takes is for you to sign up and then you’re a ZuluTrade follower. There are two types of trading accounts that you will need to consider before signing up: the profit share account, and the classic account.

Pros

  • Different types of trading accounts
  • Financially compensated on both accounts
  • Easy account opening process
  • Digital process for account opening

Cons

  • No profit generation for Japanese residents
  • Profit-share depends on performance

The Classic Account is recommended for advanced traders who have been trading for a while, and the Profit Shares Account is preferable for novice traders who are just starting out.

Classic Account

The Classic Account, or model, offers you the option of getting paid 0.5 pips per trading lot, for every closed trade that is executed in a Real Account. The pip cost correlated to the currency pair traded, the type of trading account of the signal provider, and other different factors. As a US trader, ZuluTrade will financially compensate you through a flexible monthly membership fee, but Japanese residents will not be able to generate profit because of local restrictions.

Profit Shares Account

With the Profit Share Account, or model, you mostly generate profit through your performance. Whenever you generate a generous monthly PnL to a Profit-Sharing Trader, then you will be compensated with a 20% Performance Fee. The Performance fee is only applicable for the amount above the maximum profit made by the trader, which is known as the High Water Mark (HWM).

For every generous monthly PnL, you will be financially compensated based on a specific model, which ZuluTrade labels as 50% Payment-Reserve Model.

Brokers Integrated with ZuluTrade

With ZuluTrade, you have dozens of Forex brokers to choose from. The list on their website allows you to see the selection of brokers it is currently partnered with.

Unlike most auto trading platforms, this copy trading platform values variety. ZuluTrade provides multiple trading tools, different trading accounts, and a list of Forex trading brokerage firm to give you the option to choose.

You can choose from their list of more than thirty Forex brokers or look through the table below.

Rakuten Securities VantageFX InstaForex GKFX TitanFX 4XCUBE FXCL Amana Capital
Black Bull FXOpen AxiTrader Hantec Global ADS Securities AvaTrade IC Markets RedStone
FXCM NPBFX ThinkMarkets WelTrade EverFX PepperStone Swissquote AAAFX
FXDD IFS Markets ActivTrader Royal ICM.com Land-FX USGFX Urunex
InterTrader FXCM QTradeFX Oanda        

Pros

  • Variety of Forex trading brokers
  • Top-tier brokerage partners
  • Transparency in trading interactions and activity

Cons

  • None

These Forex brokers will provide you with the option to use ZuluTrade as a copy trading platform. You will not be able to use ZuluTrade without having a trading account from one of the above mentioned Forex brokers.

ZuluTrade Signal Providers

ZuluTrade targets two types of traders: signal providers and followers. Signal providers are expert traders who have a track record in successful trading activity and extensive trading background. They allow followers to copy their trading strategies and followers use it as their own. As a follower, the signal provider you have chosen to follow will have their trades automatically executed in your broker account.

Signal providers are financially compensated for their popularity and the success rate of their trading strategies among followers.  This means that the less popular you are as a signal provider, the less you are financially compensated.

Pros

  • Automatically unfollows if a signal provider changes strategy
  • Must oblige European Union regulation
  • ZuluTrade guidelines are applied to signal providers
  • Trading tools available to evaluate the signal provider

Cons

  • Lax policy for becoming a signal provider

How To Become A Signal Provider on ZuluTrade

For you to become a signal provider with ZuluTrade, you will need to follow the set of policies by ZuluTrade that are created to reduce risk. As a security regulation, you will need to curb your overall drawdown and forbid any losses of 700 pips or more on one trading position for any major Forex currency pair.

You will also find that there is constant communication between followers and signal providers, which needs to be checked regularly for feedback. In addition, European Union traders can only follow signal providers that follow the EU guidelines.

These guidelines include a maximum drawdown of the Trader’s account must not surpass 30% of total profit, the minimum trading time available is curbed at 12 weeks, and profit for each trade should not be less than 3 pips.

How to Become a Signal Provider

Step One: Fill in your trader name, website, and trading strategy. The trading strategy must be clear and complete since it is the main component to decide your eligibility as a signal provider.

ZuluTrade SP Step 1

Step One: Fill in your trader name, website, and trading strategy. The trading strategy must be clear and complete, since it is the main component to decide your eligibility as a signal provider.

Step Two: Fill in your personal information in the section titled “Personal Information”

ZuluTrade SP Step 1 (2)

Step Two: Fill in your personal information in the section titled “Personal Information”

Step Three: Read through and make sure to check on the “Terms and Conditions of ZuluTrade,” in the case that you agree to them.

ZuluTrade SP Step 1 (3)

Step Three: Read through and make sure to check on the “Terms and Conditions of ZuluTrade,” in the case that you agree to them.

Customer Service

With ZuluTrade, you will find that customer service support is available in multiple methods of communication. You can reach the customer service of ZuluTrade through email, a phone hotline, or an online live chat. The international hotline and the online live chat are available twenty-four hours a day, while the email support is not as fast in responding to your inquiries. You will be able to engage with the customer service support in several languages available, in order to compensate that it is not available 24/7.

If you need to make a complaint or inquire about something, then you will be able to reach the customer service from Sunday to Friday.

Pros

  • Different means of communication
  • Different countries available for phone support
  • Accurate responses
  • Range of different languages

Cons

  • Not available 24/7

Means Of Communication

    • Online live chat
    • Email support
    • Phone support

Demo Account Opening

The Demo Account of ZuluTrade is a free and an unlimited free trial that allows you to virtually trade with whatever funds you prefer to start with; the minimum amount is 100,000USD. With ZuluTrade Demo Accuont, you will have the option to interact with different traders and signal providers without facing any financial exposure or risk to your capital funds, since it is all virtual.

Pros

  • Real-time trading
  • Real market conditions
  • No financial risk
  • A hands-on approach to learning
  • Starts with 100,000USD in virtual funds
  • Option to upgrade to Real Account is available
  • Ability to choose a base currency

Cons

  • None

How To Open a ZuluTrade Demo Account

Step One: Fill in your personal information on the online application and select between a Real Account and a Demo Account.

ZuluTrade Step 1

Step One: Fill in your personal information on the online application and select between a Real Account and a Demo Account.

Step Two: Select your preferred account type, your base currency, your maximum leverage level, and your amount of virtual funds.

ZuluTrade Step 2

Step Two: Select your preferred account type, your base currency, your maximum leverage level, and your amount of virtual funds.

Step Three: Confirm your Demo Account via email.

ZuluTrade Step 3

Step Three: Confirm your Demo Account via email.

Zulu Trade vs. eToro

ZuluTrade provides you with the option to utilize more than one broker throughout its automated trading platform. With ZuluTrade, there are more than 30 brokers available for auto trading and duplicating strategies from. However, similar to eToro, ZuluTrade has its own brokerage firm, known as AAAFX. This broker provides the best trade execution and simplifies the navigation of the platform.

As for eToro, it is a social platform that allows traders to interact and share their trading knowledge. However, unlike ZuluTrade, you will only find one broker available, eToro. This means that you will not find that eToro has proportionate transactions since there are no competitions between brokers.

ZuluTrade Pros

  • ZuluTrade ensures more transparency in its transactions
  • Provides more variety in trading
  • Enables simulations of all kinds
  • Easy account manager

ZuluTrade Cons

  • Inconsistent traders
  • Variable commission charged

Etoro Pros

  • eToro social platform is free to use
  • Constant spread with eToro
  • Different means of communication with customer service

Etoro Cons

  • The not transparent transaction, since you cannot view all trading history
  • Account manager available after having 2,000USD in the broker account
  • Only provides eToro on the social trading platform

Conclusion

ZuluTrade is a copy trading platform that was founded in 2007, headquartered in Greece. This financial technology, or fintech, company allows users to copy trades from other traders who have an extensive trading background and use the trades as their own.

The goal of ZuluTrade was to respond to the lack of platforms that allows traders to audit globally and at a simultaneous rate. ZuluTrade has allowed traders to interact with other traders and share their strategies among the trading community.

You will find two trading accounts, or models, Profit Share and Classic. The Classic Account is more suitable for expert traders, while Profit Share is preferable for beginner traders. You will not have to worry about fees or being charged on any non-trading actions, but you will have to consider the high trading fees.

Overall, you will find that ZuluTrade has many features that help make up for what they lack. The trading tools alone will help create a review database for other traders, making it easier to find the right signal provider. With regulations from the HCMC, CySEC, and the FSA you can almost guarantee that this auto trading platform is worth trusting.