ZuluTrade Review 2021 – Is it a Reliable Platform?
|Head office||Athens, Greece|
|Customer service||20 3355 8805|
|Type of support||Email, Phone|
|Languages||VI, FR, EN, ES, AR, TU, PT, IT, PO, CE, DE|
ZuluTrade is a social trading platform like eToro. It allows an investor to track the positions of other more experienced traders in an automated manner. Just like on a social network, the platform also allows traders to exchange their opinions on the markets.
This copy trading platform was launched in 2007 by Lean Yohai and Kosta Elefheriou. By 2009, it already had more than 4,000 signal providers that novice traders could follow.
ZuluTrade created its own Forex and CFD brokerage under the name AAAFX in 2008. It is regulated by the HCMC, the Greek financial markets regulator.
This social trading platform is very popular with beginner traders. ZuluTrade has more than one million users. The firm says it has processed more than $800 billion in volume on its platform. If you are looking for a reliable social trading platform, ZuluTrade is probably the best option.
Several types of accounts are available based on your market experience.
ZuluTrade offers two types of accounts: the “Classic” account and the “Profit Sharing” account.
- Classic account: is recommended for experienced signal providers and traders who want to share their trading strategies. The platform provides them with a large number of practical tools to carry out their copy trading service. Signal providers are paid based on their performance.
- Profit Sharing account: is ideal for investors who want to copy the strategies of more experienced traders.
Both types of accounts give you access to a dashboard with analytics tools. You can add multiple accounts from different brokers and manage them with different levels of risk.
ZuluTrade also allows you to add a demo account to test the different features of the platform without taking any risks.
Deposit and withdrawal
A flexible minimum deposit that is a function of the broker you are using.
To use ZuluTrade, you do not deposit your money on the platform, but with brokers who are in partnership with ZuluTrade. The minimum deposit depends therefore on the broker you are using. Some brokers only require a deposit as low as $1.
However, ZuluTrade requires you to have at least $100, or €91, in your account to use their service. If your balance falls below $100, you will have to re-credit your account to stay connected to ZuluTrade. Similarly, regarding withdrawals, this minimum balance must be considered in order not to interrupt the copy trading service.
For AAA FX, the minimum deposit required is $300, or about $273.
Visit this page to see the list of brokers that allow you to do social trading with ZuluTrade.
Social trading platforms
A complete solution to offer a copy trading service or follow other traders.
ZuluTrade’s social trading platform allows you to copy the positions of other traders. You can use ZuluTrade as much if you are a signal provider as if you are a follower.
To share your trading strategy, ZuluTrade gives you the tools to copy your signals to other follower accounts and make a profit based on your performance and the number of investors who follow you.
They will not only be able to track other experienced traders, but also copy the performance of portfolios created by other followers.
Let’s see some features that you will benefit from on the ZuluTrade platform.
- Automator: This feature allows you to set a stop loss and take profit for the traders you follow. In this way, you can decide to take your profits when a trader makes 2000 euros in winnings for example.
- Margin CAll-o-Meter: This is a margin call indicator. Margin call occurs when you no longer have enough margin to open a new trade or maintain your positions that are already open. The Margin Call-o-meter allows you to measure margin call risk based on the money management settings you have chosen.
- ZuluGuard: This system protects your account. ZuluGuard disconnects you from signal providers that suddenly start taking crazy positions or change strategy.
- ZuluScript: This feature allows signal providers to automate their trading strategy.
- Combo Traders: ZuluTrade offers you a selection of high-performing traders to follow. The Combo Traders allows you to follow them with a click.
ZTP is ZuluTrade’s white label trading platform. It is based online and allows you to trade CFDs and Forex. It incorporates a graph to conduct technical analyses. Dozens of indicators are also available on ZTP.
With ZuluScript, ZTP also allows you to develop and execute trading bots as you would with Metatrader.
Metatrader 4 (MT4)
ZuluTrade is also compatible with MetaTrader4. Signal providers can choose to send their trades from MT4. This platform allows them to easily automate their trading strategies. On ZuluTrade, you’ll know if a supplier is using an automated system.
ZuluTrade is available in mobile version. The app is developed for Android and iOS. It is quite complete and allows you to monitor the positions opened by the traders you follow. You can also close your positions from the app and manage the risk.
Different types of fees are applied to your account. The use of AAA FX offers advantages.
Spread and commissions may vary depending on the type of account and the broker you use with ZuluTrade. In general, ECN accounts offer tighter spreads with a commission per trade. While standard accounts do not have commissions but have wider spreads.
The overnight fee also applies to your account if you maintain your positions for more than one session.
In addition to the fees related to your broker, ZuluTrade charges a commission per position that can go up to 3 pips depending on the broker.
You do not pay this commission if you use the broker ZuluTrade’s AAA FX.
To pay signal providers, ZuluTrade deducts a performance fee of 20% for each trader or system you follow on the platform.
Markets and financial products
Social trading that revolves around several asset classes.
ZuluTrade is not a broker in the literal sense of the word. But it offers copy trading of all the assets available at partner brokers: Forex currency pairs, stocks, commodities or cryptocurrencies.
ZuluTrade offers many risk management tools.
ZuluTrade offers the economic calendar on its platform. Important events to come are highlighted so that you prepare accordingly if your strategy is sensitive to economic announcements.
The platform also has tools to calculate the size of position, margin, profit, as well as a currency converter.
Its signal supplier ranking algorithm is quite sophisticated. It is based not only on their performance, but also on the level of drawdown, age of service, frequency of trades and duration of positions.
Customer support is available in several languages. Support is available by email and phone.
For your various questions related to the ZuluTrade platform, you can contact them by email or call them by phone. This information can be found on the “Contact” page of ZuluTrade’s official website. The support is available in several languages, including French.
A FAQs section is also available on the site and many questions about ZuluTrade’s copy trading are answered.
In addition, ZuluTrade has a forum where investors can discuss traders’ performance, platform features or make suggestions.
Training on the basics of trading and several tutorials on the use of the platform are available to beginners.
On the ZuluTrade website, you’ll find a number of videos and tutorials that explain in detail how to use the platform. The user guide on the site is quite detailed.
We also appreciated the fact that ZuluTrade offers training on the basics of trading, although it is not a broker. You’ll also find tutorials on social trading and account management.
A regulated platform with several security measures for the protection of accounts.
ZuluTrade has put in place a number of measures to protect the trading accounts of its customers. As you browse the forum, you’ll find followers’ opinions on the best traders on the platform.
In addition, the ZuluGuard protects your account from aggressive trading strategies, or automated systems that could malfunction at times. This protects you from suppliers that don’t actually have statistical advantages (trading edge) in the markets.
However, it is important to note that ZuluGuard does not guarantee profits. A fairly regular system may well suffer long-term losses.
Regarding regulation, ZuluTrade is regulated in Greece by Greece’s Hellenic Capital Market Commission (HCMC) as a provider of copy trading solutions. Most of ZuluTrade’s partner brokers are also regulated by various regulators around the world. We advise you to avoid unregulated brokers.
ZuluTrade is a complete social trading platform. It is flexible and offers its users the ability to use multiple brokers at the same time. This is a real advantage over brokers like eToro.
Whether you’re an experienced trader or a beginner, ZuluTrade provides you with the tools you need to offer your trading signals or follow other traders.
You can’t credit your ZuluTrade account, but you open your account from a partner broker and then connect that account to ZuluTrade.
ZuluTrade is regulated in Greece by the HCMC.
The minimum capital to follow other traders is $100.