Overview
ZuluTrade Review
Table of Contents
ZuluTrade is one of the oldest platforms for copy and social trading that brings together experienced traders and inexperienced investors to make money on a single platform. The platform enables copying trades, as well as communication and knowledge sharing among members. While professional traders aim to makae profitable trades, novice traders can automatically or semi-automatically copy their trades.
If you are interested in a detailed review of Zulutrade before deciding whether you should use it or not, stay tuned because we are going to explore this copy trading platform in depth.
Regulation and Licence
To reduce the risk of fraud and other unethical practices, it’s advisable to trade with a regulated copy trading platform. Traders should always verify the platform’s regulation by cross-checking their license with the regulator’s database. Zulutrade provides services through a regulated entity and maintains a secure trading environment for its users.
It is a globally recognized social trading platform which is subject to strict regulations by the Hellenic Capital Market Commission (HCMC) in the EU. The broker provides services to traders in many different nations. Due to its tight adherence to rules, trades can be confident in the platform’s dependability and transparency, which makes it a reliable option for social and copy trading services.
Countries Supported by Zulutrade
Zulutrade accepts clients from hundreds of Countries including Australia, China, Cyprus, Brazil, Canada, Egypt, France, Germany, Greece, Italy, UAE, Denmark, Sweden, Japan, Thailand etc. However, it’s important to note that some countries have restrictions on forex trading or on ZuluTrade’s services specifically, so traders should check their local regulations before signing up for an account. Additionally, ZuluTrade may have different requirements or restrictions depending on the country of the trader or the broker they choose to use.
Available Trading Instruments
Zulutrade provides traders with a wide selection of trading instruments, giving them numerous choices to diversify their portfolios and maybe make money in various markets. However, it should be noted that your preferred trading instrument should be available with your broker if you want to copy trade it on Zulutrade. Some common trading instruments available on Zulutrade are:
Forex:
With Zulutrade, you may access a wide range of foreign exchange currency pairings, including popular ones like EUR/USD, GBP/USD, USD/JPY, and AUD/USD as well as uncommon ones like EUR/JPY, USD/HKD, and USD/ZAR.
Cryptocurrencies:
Zulutrade offers cfds of some of the very popular cryptocurrencies including BTC, ETH, LTC, BCH etc.
Indices:
Trading on a number of indexes, including the S&P 500, Dow Jones, Nasdaq, and FTSE100 is accessible through Zulutrade. Trading indices enable investors to place their money in the overall performance of a particular market or sector as opposed to a single company.
Stocks:
Traders can follow experienced traders to make their investing decisions in the stock market. They can buy the shares of companies which are expected to show significant growth in a specific time period.
Commodities:
The platform offers Cfds of some of the most commonly traded commodities like Copper, USOil, UKOil, XAG, NGAS etc.
Fees Charged by Zulutrade
Zulutrade doesn’t charge any fees for copy trading, be it the platform fee, inactivity fee, deposit or withdrawal fee, however, traders may have to incur fees from their broker.
Since Zulutrade is not a financial broker, traders are required to create an account with a forex broker and link it with their Zulutrade account in order for their trades to get executed in the market. As such, they have to pay the necessary fees to the broker which may include spreads, commissions, rollover fees, deposit and withdrawal fee depending upon the broker.
It’s always a good idea to review the charges of a broker before opening an account or making any trades with them.
Different Account Types Offered by Zulutrade
ZuluTrade provides two Investor plans for traders, the Profit Sharing Plan and the Classic Payment Scheme. Under the Profit Sharing Plan, traders receive a compensation of 20% performance fee every time they generate a profitable monthly PnL above the High Water Mark (HWM). The HWM is the highest peak in value that a trader produces on an investor’s trading account during any given month from the moment the investor starts following them. Traders and their affiliates receive 20% of the profits made, as well as 20% of the monthly fee applied by ZuluTrade. This allows traders to potentially earn more when their trading strategy is successful and profitable for their followers.
On the other hand, under the Classic Payment Scheme, traders are compensated based on a fixed fee for each closed trade executed or a percentage of the trading volume. The fee usually ranges from 0.4 up to 1 pip, depending on various factors such as the currency pair traded, the type of account of the investor, and other market conditions. Alternatively, traders can receive a payment of $4-$10 per $100K traded. This compensation model provides traders with a more predictable compensation plan, and they can earn fees on each trade executed, regardless of its profitability.
Different Account Types Offered by Zulutrade
ZuluTrade offers many unique tools. Some of them are:
Zuluguard:
ZuluGuard is a feature that protects your trading account automatically by continuously monitoring the performance of each trader in real-time, even when you’re offline. You have the option to set a maximum investment amount per trader and a monetary amount to lock in your profits. Additionally, ZuluGuard offers a fixed or trailing capital loss stop option and alerts you when your used capital reaches a specified percentage of the capital protection amount. If ZuluGuard detects any significant deviations in a trader’s performance, it promptly takes action by closing all open trades and disabling the trader’s account to prevent further trading. This feature is mandatory for the European version of the service, and it provides a protective barrier for investors’ capital.
Automator:
The Automator is a highly valued feature of ZuluTrade that enables users to create custom rules to manage their trading account. These rules can be used to lock in profits, adjust Stop/Limit orders for specific trades, close profitable positions, or receive notifications about significant market changes. The Automator can be accessed via the Settings tab of your Forex account, and it offers the ability to automate trading activities 24/5, even when you’re not available to monitor market conditions.
Zulurank:
ZuluRank is a unique system for ranking trading strategies that takes into account factors like maturity, exposure, and drawdown. It emphasizes stable trading results and avoids over-exposing invested capital. ZuluTrade Europe only makes the top 1000 traders available to EU investors, who must meet specific criteria like a minimum trading time of 8 weeks and a maximum drawdown of 30%. While ZuluRank provides a helpful ranking system, the best trader for you may depend on your individual needs and risk allowance.
Zuluscripts:
ZuluTrade has introduced a cutting-edge feature known as ZuluScripts, which enables traders to design and launch their own trading robots and indicators directly from their ZuluTrade Trader account without requiring external software or third-party registration. The ZuluScripts are coded using the ZuluTrade Query Language (zql), which is designed to be compatible with the most widely used scripting languages in the Forex market. To access the ZuluScripts feature, all you need is a Trader account with the ZTP option enabled, which can be easily done by going to the Settings tab and selecting Broker Account Link Settings.
Zulutrade’s Customer Support
Customer service at ZuluTrade can be reached via phone, email, or live chat, and it is multilingual. From Sunday 21:00 UTC to Friday 22:00 UTC, their support staff is accessible around-the-clock to help users with any queries or issues they may have. The support staff has in-depth expertise of the ZuluTrade platform and is able to offer instructions on how to use different features and tools, troubleshoot technical problems, and provide general support for trading on the platform.
Educational Materials
ZuluTrade provides a variety of learning tools to help traders of all experience levels develop their trading abilities and make wiser choices. Everything from using the platform to setting up a demo or real account, viewing trader profiles, and using advanced search features is covered in their video lessons. While the social charts let traders see what other traders are doing in real-time, the blog section offers market insights and analysis. The economic calendar aids traders in staying informed of significant occasions and developments that may have an influence on the markets. In general, ZuluTrade’s educational materials are made to assist traders in staying informed and making wiser trading choices.
Trader’s Profile
A trader’s profile on ZuluTrade is a detailed overview of their trading performance. It provides potential followers with information on the trader’s strategy, total profit, maximum drawdown, trading history and a lot of other metrics.
The trading history allows potential followers to see their past trades, including the size of the trade, pips won or lost in a trade, timeframe and type of executed order. This level of transparency enables potential followers to assess the trader’s performance before deciding to copy their trades. Trader’s profile on ZuluTrade provides valuable insights and information to help followers make informed decisions about who to follow and copy.
Zulutrade’s Affiliate Program
ZuluTrade’s Affiliate Program offers the opportunity for individuals and corporations, such as website and blog owners, social media influencers, trading academies, YouTubers, and professional traders, to earn extra income by promoting ZuluTrade’s copy trading services. Affiliates receive commissions for accounts that sign up through their unique URL. ZuluTrade provides a transparent compensation scheme, tailored agreements for advanced affiliates, and support from their Affiliate Desk Team. Commission payouts have no limits, and various banners and widgets are available for promotional use. Although their default monetization model is CPA, ZuluTrade is open to discussing custom deals with established affiliates.
Zulutrade Mobile Trading App
Users can use the platform’s copy trading services while on the go via ZuluTrade’s mobile app, which is available for iOS and Android smartphones. Among other things, the app enables users to track performance, browse trader profiles, and monitor their accounts. Users can also opt-in to receive push alerts on their mobile devices to stay updated on crucial market news and events. For traders and investors who prefer to manage their accounts through mobile devices, the app’s user interface is simple to use and offers a seamless experience.
Social Trading Features
Social Feed:
The social feed on Zulutrade is a useful tool for traders who wish to stay updated and involved in the trading community. The social feed can assist you in keeping up with the most recent market trends and developments. It can also help you connect with other traders and expand your network. Users are free to submit anything concerning the markets, such as their own analyses, critiques of certain traders, or queries for other traders.
Also, users are able to categorise their posts and increase their visibility to other traders by using hot hashtags in the social feed.
Forum:
The trading forum at Zulutrade is a web-based community where traders may discuss trading strategies, exchange knowledge and experiences, and make connections with other traders. Market analysis, technical analysis, and trading psychology are just a few of the many trading-related subjects covered on the site. It’s a fantastic resource for traders of all experience levels, from newcomers to specialists, to communicate with and learn from one another.
Social Chart:
The social charts feature on Zulutrade enables users to examine and analyse charts in real-time while also keeping track of other users’ trading activities. Users can configure alerts for particular price levels or events as well as overlay numerous charts and indicators. The social component of the charts enables traders to observe how other traders are responding to market changes and possibly pick up trading tips from them. On an interactive chart, traders submit their deals and discuss the most recent market developments.
Trade Wall:
Trade Wall is a feature that provides real-time information about trading activity on the platform. Traders can see which other traders have opened or closed a trade on a particular currency pair, as well as the profit or loss associated with the trade. The Trade Wall also shows investors’ and traders’ market sentiments for each pair, enabling traders to assess market mood and make better trading decisions. For traders wishing to learn about market patterns and sentiment or to track the transactions of other successful traders on the site, this function is especially helpful.
How to Copy a Trader on Zulutrade
If you want to copy a trader on ZuluTrade, the process is relatively straightforward. After opening a trading account on Zulutrade and connecting it with one of the partner broker, you may follow these steps to start copy trading on your account
- Firstly, you need to locate a signal provider whose trades you want to copy. Once you have identified one, click on their profile and click the “Follow” button.
- After clicking “Follow,” you can set the amount you want to copy the trader’s trades for your account. If you want to configure the parameters in more detail, click on the “Switch to Advanced” link in the upper right corner of the same window.
- You can configure the drawdown amount in percentages, the maximum number of open positions, and the ZuluGuard capital protection measures in the advanced window. You will receive an email when the drawdown level is attained.
- You can track the traders’ results in your personal account by accessing the “My Entire Portfolio” list of traders you are copying on ZuluTrade.
- You can unsubscribe from a trader or stop all transactions by clicking the symbol next to their picture.
Tips to Find the Right Trader for Copy Trading on Zulutrade
- To find a reliable social trader, it’s best to check how much trust other followers have in them. Look at the real money that other people have invested to receive signals from the trader, rather than demo accounts. Additionally, it’s worth considering the profits that these followers are making by copying the signal provider’s trades, which can be found on their profile page.
- When evaluating social traders, it’s important to look beyond just their maximum profitability and also consider their maximum drawdown. Traders with high drawdowns can be very risky to work with and may lead your account to a margin call, particularly if you don’t have enough capital to absorb a series of losses. If you plan to trade frequently, it’s essential to take into account your signal provider’s daily drawdown. The same is true if you prefer to trade or make withdrawals on a weekly or monthly basis.
- To manage risk when following multiple social traders, it’s essential to read their profile descriptions and understand their investment style, which may or may not be suitable for you. You should consider the strategies they use, whether they employ leverage, and which products they trade and why. To gain insight into a trader’s strategy, it’s also important to assess their closed trades.
- When selecting a social trader to follow, it’s crucial to consider their consistency over time. A trader who has had several consecutive profitable months, with few losses in between, is an excellent candidate. Additionally, it’s important to ensure that the trader has been active in the market for a while. Ideally, they should have at least 12 months of experience on the trading platform. Avoid copying beginner traders whose success may be due to temporary luck.
- You can also use the Zulurank feature to pick the best traders as the tool automatically filters the best traders based on their performance.
Benefits of Zulutrade Copy Trading
- You have access to the knowledge of experienced traders who have a successful track record. This means that in order to start making winning trades, you don’t need a wealth of trading expertise or market knowledge.
- You may set up your account settings on ZuluTrade to suit your preferences, including how many traders you follow, how much money you devote to each trader, and how much risk you’re ready to take. As a result, you have the freedom to personalise your trading experience to suit your unique requirements and tastes.
- You don’t need to pay additional fees for copy trading on Zulutrade.
- The platform is highly regulated which adds to its credibility.
- It is supported by over 70 brokers which gives trades flexibility to select the broker of their choice.
FAQs
What is Zulutrade and How Does It Operate?
A social trading platform called ZuluTrade enables seasoned traders to share their trades with novice investors. Investors may opt to automatically or partially replicate these trades, and traders may be compensated with commissions based on the volume of capital exchanged.
How Can I Begin Using Zulutrade?
You must register for an account and link it to your trading account before you can use ZuluTrade. The next step is for you to browse, choose the traders you wish to follow, and begin copying their trades. ZuluTrade provides a range of features and tools, such as performance analytics and risk management tools, to assist you in managing your trades.
What Does It Cost to Use Zulutrade?
ZuluTrade doesn’t charge a price to use the platform, however there can be a broker’s fee which you must check prior to opening an account or investing capital.
Is Zulutrade a Secure and Reliable Platform?
ZuluTrade takes security extremely seriously, and to safeguard your data and transactions, it employs cutting-edge encryption technology and security processes. The Hellenic Capital Market Commissions is the financial organisation that oversees the platform.
Can I Profit Through Zulutrade?
By emulating profitable traders and making profitable trades on ZuluTrade, it is possible to make money. Like with any sort of trading, there is also a chance of losing money. When utilising ZuluTrade, it’s critical to conduct your own research and meticulously manage your risk and capital.
Now that you have got all the necessary information about Zulutrade, Do you think it’s worth trying? Let us know by writing in the comment section below!
