ZuluTrade Review – The Old Kid on the Block
In this ZuluTrade review, we will be discussing one of the oldest and most well-known platform that helps investors manage their wealth. It lets people copy the trades of experienced traders in the financial and Forex markets. This platform also has a social feature that lets traders and investors share their ideas and feedback. Currently, there are about two million users and over $800 billion in trade volume.
We will explain how it works, including its costs, live accounts, user ratings, regulations, and more. We will give yu our opinion on whether or not it’s a good idea to sign up for ZuluTrade.
ZuluTrade Review – The Company
ZuluTrade is a company that belongs to Finvasia Group. Leon Yohai and Kosta Eleftheriou established the company in 2007. Yohai made software to copy the positions of the top traders in the market. Now it is considered one of the most creative copy trading tools in the world. The company has its headquarters in Piraeus, Attiki, Greece.
From the beginning, ZuluTrade has aimed to become the world’s largest social trading community. They want to offer investment solutions that put their customers first. They want traders from around the world to connect to any trading platform and share their knowledge.
These days, the company is a top copy-trading platform. It has users in 150+ countries and offers over 90,000 traders to choose from. More than 60 brokers worldwide use ZuluTrade’s high-tech software. There are over 1.5 million registered users all over the world.
ZuluTrade Review – Regulations and Licensing
ZuluTrade is a worldwide copy trading platform that is supervised in the EU and Japan.
The Hellenic Capital Market Commission (HCMC) from Greece granted ZuluTrade a Triple-A Experts SA license as a copy trading service for EU brokers.
Moreover, the platform has been regulated in Japan by the General Japan Investment Advisers Association since 2014 (No. 1058 Member Associations).
ZuluTrade Review – The Platform
The ZuluTrade trading platform works with brokers that offer trading on different things like stocks, cryptocurrencies, Forex, Oil, and Nasdaq. People can see what successful traders are doing and copy their moves.
There are two types of people who use the platform:
- Traders: They share their trades and let others copy them. They get paid based on how much is being traded.
- Investors: They can copy the trades of successful traders.
ZuluTrade Review – Features
Once you have your ZuluTrade account login details, you can use a lot of helpful features like:
- Lock Trade – This lets you check a trade after you get a signal.
- Automator – This sends you an email or takes action automatically when something happens. For example, if a trader makes $1,500 in profit, it can lock in the profit.
- Social network features – You can talk to other users, review traders, and ask questions.
- ZuluScript – This lets you make rules for trading bots, which can make a lot of trades quickly.
- ZuluGuard™ – This protects investors if a trader they are following makes bad trades.
- Calendar – This shows you important events happening in the financial markets.
If you’re not sure which trader to follow, you can use the ZuluRank. It ranks traders based on different criteria like how much they’ve traded, how much profit they’ve made, and how long their trades stay open.
Fees and Spreads
The fees you pay depend on the type of account you have. A ZuluTrade Account only charges a commission fee that changes with different brokers. Traders get a profit from every trade that investors copy, and the broker’s commission depends on how much the client trades.
The difference between the buy and sell price (called the spread) can change depending on the broker, the currency pair, and the time of day. For example, during times of high volatility, brokers might make the spread wider.
If you have a Profit Sharing profile, you pay a $30 per month subscription fee, plus broker fees and commissions. The trader gets 20% of the profits their followers make.
Different brokers have different minimum deposit requirements. Some only need $1, while others need $250. But it’s recommended that you keep at least $100 in your ZuluTrade account to stay connected.
You might also be charged an overnight rollover/swap fee by your broker, depending on the asset and volume you trade. But most intraday traders don’t usually have to pay these fees.
Other than that, there aren’t any extra costs. And ZuluTrade pays the traders you copy directly. Sometimes, ZuluTrade has promotions and deposit bonuses on their website.
ZuluTrade Review – Types of Accounts
You can use a Free Demo Account with ZuluTrade. To get started, go to their website and choose the demo account option. The demo account works just like a regular account but without any real money involved.
When you sign up for a live account with ZuluTrade, you get the ZuluTrade Account. This type of account is suitable for both beginners and experienced users. Traders can use manual or fully customized copy-trading and are charged standard volume-based commissions.
The ZuluTrade Account provides access to charts, data, alerts, and forex signals. Account maintenance is easy, and you can access all the basic functions from the ‘my account’ page, such as reviewing performance rankings and closing individual trades.
The ZuluTrade Account offers many benefits, including no fees or commissions, a volume-based compensation scheme, copytrading, manual trading, the ability to close individual trades at any time, and a Lock Trade function that lets investors fully monitor their positions.
ZuluTrade Review – Mobile App
ZuluTrade has trading apps for Android and iPhone. You can check your performance, see new traders to copy, and manually close trades on the app. You can also choose to manage your risk settings in real-time.
Other things you can do with the app include:
- Open, close, and edit trades
- Spread your risk across different assets and strategies
- Manually change your stops and limits or close trades completely
- Follow your chosen trading systems’ signals without having to watch the market 24/7
The ZuluTrade mobile app is a good match for the desktop platform. It’s easy to use and works well on different devices. Also, it keeps getting better with updates.
Methods of Payment
Traders can pay using PayPal, bank wire transfers, credit/debit cards, or e-wallets.
Investors may have different ways to deposit and withdraw money depending on the broker they are using. It’s important to check for any deposit or withdrawal fees charged by the broker.
ZuluTrade Review – Additional Offerings
ZuluTrade offers many useful extra features, such as a pip calculator, news access, profit and margin calculators, an economic calendar, and currency calculators.
In addition, there are various training resources available, including videos, tutorials, user guides, and PDFs, to assist you with any issues. ZuluTrade’s Followers Academy also provides guidance on how to select from their numerous supported brokers.
ZuluTrade Review – Pros and Cons
- ZuluTrade partners with many global affiliate brokers.
- The mobile app is reliable and easy to use.
- You can access popular cryptocurrencies.
- There are over 90,000 traders to follow and copy, which could increase earnings.
- The demo account is free and fully functional, making it ideal for beginners.
- Reviews show that users appreciate the performance indicators and graphs for evaluating traders.
- Users can comment directly on traders’ profile pages, which promotes accountability and transparency.
- All historical trades are available, ensuring total transparency.
- Only top traders who meet strict criteria and demonstrate consistent and reliable performance are displayed. This creates a fair investment environment as all traders aim to comply with these rules.
Zulutrade.com reviews have pointed out some downsides and risks to consider:
- There are some traders whose performance is inconsistent.
- Traders are not screened in advance, but the ZuluGuard™ feature can help by removing or withholding fees from under-performing traders.
- Implementing an effective money management system can be challenging, especially for beginners and traders who focus on non-Forex assets like gold, CFDs, and cryptocurrencies (like Bitcoin and Ethereum).
Accepted and Unaccepted Clients
ZuluTrade welcomes traders from many countries including Australia, Thailand, Canada, South Africa, and many more.
However, traders from some countries are not able to use ZuluTrade such as United States, United Kingdom, Belgium, Iran, Syria, and Sudan.
ZuluTrade Review – Final Thoughts
ZuluTrade.com is appealing to traders and investors of any skill level, as evident by its increasing number of users. However, we recommend using the company’s own brokerage, AAAFx, to make the most of the service’s user-friendliness. It’s important to note that profits can be lost as fast as they are gained, so having an effective strategy and money management system is crucial.