ZuluTrade – Detailed Review and Trader Opinions 2024

ZuluTrade is a very unique and innovative online social and copy trading platform which brings traders from over 50 trading brokers together on one single platform- ZuluTrade. It allows traders to connect with one another and copy their every trade automatically in a safe and secure environment. ZuluTrade was established in 2007 by Leon Yohai, who had a vision to create a web-based platform that could connect traders, enabling them to share their strategies while at the same time auditing traders globally. Therefore, ZuluTrade is not your traditional trading brokerage as it is primarily a platform enabling traders to collaborate and copy one another.

The ZuluTrade platform is regulated in two regulatory jurisdictions; Greece’s Hellenic Capital Market Commission (HCMC) and Japans Financial Services Agency (FSA). As well, they have obtained a Portfolio Management License from the European Union and are partnered with over 50 online trading brokerages, many of which are regulated from regulatory agencies from around the world. In addition to being a highly regulated investment service, ZuluTrade has also won various awards for their proficiency in online copy trading services and customer service. Today the company continues to innovate and strives to reach their goal of becoming the world’s largest financial community to provide customer focused investment solutions and the largest social trading community in the world.

ZuluTrade is an intricate trading platform providing insight into other traders’ strategies and the chance to profit from them. With a platform as unique and elaborate as this, there will be a variety of advantages and disadvantages. See what defines this platform in the pros and cons listed below.

Trader are Provided with Insight: Traders are provided with an incredible amount of insight into the movements and strategies of other traders. In doing this it allows both parties (the followers and traders) to profit.

Active Social Aspect: Traders are socially active by interacting with forums, comments, and profiles. This creates an engaged and active community with a steady flow of knowledge and information.

Excellent User Interface: ZuluTrade has a clean interface design and operating system which allows everything to be easily understood making for a great user experience.

Low Entry Fee: Accounts can be opened with a low entry fee of only $300. This is much lower than many other social trading platforms.

Success is Not Guaranteed: There is no guarantee that the traders you follow will be successful. Anyone can become a signal provider, and it’s up to the trader to perform in depth research into who they should copy.

Copying Takes Practice: In addition to the first point, some signal providers may or may not use their own money to trade. For this reason, you want to keep a close eye on the actions of the traders you follow, until you find the right ones- this comes with experience.

Poor Traders: There can be many inexperienced poor-quality traders using the ZuluTrade network. These traders must be avoided, even if they have a hot streak and are doing well.

ZuluTrade works in a very interesting way in which ZuluTrade users follow and copy signal providers who are members of ZuluTrade but trade with 1 of 50+ online trading brokers. Every trade the ZuluTrade signal provider makes is broadcasted to the ZuluTrade platform and made available for everyone to see. If the signal provider is consistently making profitable trades, then more and more ZuluTrade users will follow and copy them which will then reward the signal provider as well as the copier. For every trade a signal provider makes that is being copied in a live ZuluTrade account, the signal provider will receive half a pip per lot, which averages at around $4 per trade.

Meanwhile, the copier will receive or lose the proportional amount of the money they put into the trade. The copier can choose who they want to copy, and they can choose from over 100,000 traders from over 190 countries. When copying a trader, the process can be automated so that the trader never misses a trade. Also, ZuluTrade users who copy traders are protected by the ZuluGuard feature which monitors each trader’s behavior and automatically removes them from your following if their strategy or trades dramatically takes a turn for the worse. This prevents copiers from losing all their money from a good trader gone bad. All in all, the trading conditions are very good in the sense that they work to maximize profits and minimize losses.

ZuluTrade features their very own proprietary web-based trading platform which they call the “Full Pack Complete Trading Platform”. This platform features a variety of advanced features such as a complete charting package, advanced auto trading capabilities, Zulu scripts which allows traders to use trading bots, and Zulu trading API for the integration of a traders very own programming environment. These features are highly advanced and are well respected by the most sophisticated traders in the industry, but the platform is also very accommodating to beginner traders. The user interface is well designed and very user-friendly, allowing beginner traders to easily manage their portfolio and follow and copy the best and most consistent traders.

The ZuluTrade platform is fully compatible with all mobile devices such as Apple, Android, Windows, and Blackberry. The platform features full functionality with a tweaked but similar interface to allow for a seamless experience on mobile. Traders can mange and control their portfolio from anywhere at anytime.

ZuluTrade features a fully live and free demo account which allows traders to test drive the platform with virtual money and copy real traders, just as they would with a real account. The demo account provides newcomers with $100,000 of virtual money to play around with so they can be fully confident with their plan and how the ZuluTrade services work before investing with real money. The ZuluTrade demo account is one of the most impressive we have seen.

ZuluTrade offers two very distinct account types which vary greatly in the services they provide. The options are straightforward and will be obvious to the user upon signing up. See the account types below.

Classic
This account is strictly meant for advanced users as it is a signal provider account, meaning your trades will be broadcasted for the entire ZuluTrade community to see, follow, and copy. Traders with this account can profit from both volume-based commissions plus manual or customized copy-trading.

Profit Sharing
This account is recommended for beginners as you do not make your own trades on this account, but rather learn from and copy other traders.

Opening a Profit Sharing Account with ZuluTrade is simple and easy. All that is required of the user is some simple information such as name, email, phone number, location, base currency, and a minimum deposit of $300.

On the other hand, ppening a Classic Account to become a signal provider is a little more complicated. Not just anyone can open an account and become a signal provider. To become a signal provider, traders must trade on ZuluTrade for at least 12 weeks, maintain a maximum drawdown of less than 30%, and trade with an average of 3 pips or more per trade. If these criteria are met, a trader on the Classic Account can become a signal provider.

ZuluTrade users can withdrawal money from their accounts via three payment methods being PayPal, Bank Wire Transfer, and ZuluTrade MasterCard. This is a rather limited amount of payment options compared with many other online trading platforms and the fees are quite high. For instance;

• When withdrawing up to $500 with PayPal traders are charged a $20 fee and when withdrawing over $500 with PayPal, traders must pay $20 plus a 3.9% fee.
• When withdrawing via Wire Transfer outside of the U.S. there is a $45 fee
• Withdrawals via the ZuluTrade MasterCard have a fee of $20

ZuluTrade does not feature a full fledged education center like many online trading brokerages do, but they do provide some helpful resources. For instance, traders can view several introductory animation videos which act as a training guide for various features on the ZuluTrade platform. Also, users can view the ZuluTrade blog and interact with traders via the social aspect of the platform using forums and such. As well, users can find helpful information in the FAQ section and User Guide section on the website.

ZuluTrade is an excellent trading platform for traders interested in social trading or copy trading. ZuluTrade is very experienced in this regard and is one of the most reputable online trading platforms offering these types of services. Therefore, if the social and copy trading aspect of trading is something you’re looking for, then you should definitely consider trading with ZuluTrade.