Online reviews regarding ZuluTrade reveal divisive opinions. However, the initial findings of the review team leans mostly to the positive, citing customer support team performance, competitive fee structures, and intuitive mobile applications. The negative testimonies the team had gathered cite risks in capital upon the conduct of copying trades within a demo account simulation, the challenge of enlisting the help of solutions provider, and amount of time needed to monitor each trade.
Despite being a mixed bag, something already commonplace for service providers like as ZuluTrade, fact of the matter is, those that the review team had gathered about ZuluTrade seem to be challenging to ignore. The review team had gone back to the firm’s basics by looking into the provider’s offers and services so as to render a pointed assessment of the ZuluTrade’s overall capabilities.
What to Expect From This Review
This review is a result of months spent with the ZuluTrade. An exhaustive examination of the solutions provider’s offers and services were performed through the following facets:
- The regulatory body that sanctions all of ZuluTrade’s trading activities
- The trading instruments that ZuluTrade gives access to its clients
- The available trading accounts to ZuluTrade’s clients
- The ZuluTrade trading platforms offered to its clients
- The fees the firm charges for all its services
- A ZuluTrade standout feature
Through the close examination of these, an informed, holistic evaluation of ZuluTrade’s capabilities would be provided to the readers of this review.
Before diving into the review it must be noted that ZuluTrade is not a brokerage. It is actually a trading solutions provider that offers an online and social trading platform. ZuluTrade gives its clients access to the trades of seasoned traders so that they may copy them. This is done so that its clients may be able to reach a level of automated trading. This also allows clients to share feedback and take part in giving feedback on the trades that they opt to copy.
Established in 2007, ZuluTrade was founded by Leon Yohai and Kosta Eleftheriou. The business partners wanted to allow novice traders to copy trades performed by industry experts. In 2009, the company had already gathered a total of 4,500 experts who were considered Signal Providers. These providers give ZuluTrade clients access to their trading portfolios so that they may be able to make lucrative transactions.
ZuluTrade had acquired a Triple-A Experts SA license from the Hellenic Capital Market Commission (HCMC), a financial regulator that operates in Greece. As a testament to ZuluTrade’s legitimacy as a trading solutions provider, the company has been awarded an EU Portfolio Management License from the European Union itself in 2015. This solidifies ZuluTrade’s position within the industry, hence raising its trust rating.
Offers and Services
Available ZuluTrade Accounts
ZuluTrade offers two live trading accounts:
- The Profit Sharing Account
Novice traders are the ones who could largely benefit from this type of account. Through this account, traders are able to earn profit when the clients able to earn as well. When the users are subject to losses, they would also be subject to them. In addition, clients are given reduced commissions.
- The Classic Account
The Classic Account was created for the more seasoned and experienced traders. This account type allows users to manually set copy-trading and further customize the settings. On top of this, traders are also given the chance to perform standard volume-based commissions.
Both the Profit Sharing Account and the Classic Account allow its clients access to charts, data, alerts, and Forex signals. Account maintenance for these accounts is straightforward.
Accessible Trading Instruments
The ZuluTrade trading platform gives grants access to a number of markets, namely Binary Options, Forex, Commodities, Indices, and Stocks.
The user base is divided into 2 categories that explain how the ZuluTrade platform actually works:
- Signal Providers
As mentioned in an earlier segment, ZuluTrade enlists the help of what they call Signal Providers—these are the trading experts within the service provider’s trading pool that its clients can copy trades from. The fees charged to traders depend on how successful these trades are.
Simply put, these are the ZuluTrade users that copy the Signal Providers’ strategies. They may also just copy the investment portfolio of the Signal Providers.
The ZuluTrade Trading Platform
ZuluTrade’s proprietary platform provides offers a wide array of features that the review team had found to be advantageous to the more novice of traders.
The Automator function is a 2016 addition to the already existent set of functions within the platform. Through this smart feature, one can send email notifications that automatically lodge the necessary action once the event takes place. This is dependent on the setting the user had added. Through this feature risks are effectively minimised.
The Lock Trade feature allows traders to verify trade execution once the signal is received.
The Margin Call-o-Meter calculates the time a user might possibly run out of money due to a Margin Call. The meter simply shows how much of the user’s capital is being risked.
The ZuluScript is responsible for developing scripts that places parameters for trading bots. Its more popular name within the trading community is Expert Advisor (EA). ZuluScript permits trading automation that executes a number of trades simultaneously.
Apart from these, ZuluTrade is also praised by the trading community for the offering of the following calculators:
- Currency calculator
- Margin calculator
- Pip calculator
- Profit calculator
In addition, ZuluTrade also provides an Economic calendar and the streaming of the most recent market and economic news.
ZuluGuard: A Standout Feature
ZuluGuard is held by the trading community as one of ZuluTrade’s standout features.
ZuluGuard is ZuluTrade’s account protection feature. It monitors the behaviour and actions that each trader makes and immediately removes a user detected using a draconian strategy. This efficiently shields traders from possible fraudulent entities.
ZuluGuard could be set manually through the Advanced Mode setting in a user’s account.
The review team sees the minimum initial deposit to be competitive as it is only pegged at $1.
ZuluTrade also charges Overnight Rollover/Swap Fees. This is reliant on the currency pair that the user had chosen to trade, something that can easily cut into a user’s profit. Worthy of note, Intraday traders are exempt from paying these fees.
ZuluTrade clients are not charged for copying the trades of Signal Providers. The firm is the one that compensates the experts as part of their commission.
Trade with ZuluTrade Today!
With all the features discussed within this review, it is easy to ignore the negative testimonies and shortcomings some traders had experienced upon trading with ZuluTrade. Given its legitimacy, trust rating, and its many profitable offers, ZuluTrade is easily seen as a trading solutions provider that should be on the minds of those wanting to delve into Copy Trading.