ZuluTrade ReviewCategory: Reviews | Author: Trading Brokers | Date: November 17, 2022
ZuluTrade is a popular social trading platform for traders and investors around the globe to copy trades. They are not a dedicated broker, instead they integrate with over 70+ other brokers and offer you a range of useful tools for a quick and easy social trading experience. With ZuluTrade you can trade CFDs on all the most popular financial assets through its list of affiliated brokers. That means you can speculate on major and minor currency pairs, all the leading stocks, cryptos, major indices and commodities. You can copy the trades of fellow traders or provide your own strategies for others to invest. They make it quick and easy to find signal providers according to your own preferences. I think they can be a good solution for anyone who doesn’t have the time to trade manually or those of you who have a good strategy that you want to share with others and get paid for it.
Pros & Cons
- 70+ compatible brokers to choose from
- Copy trading signals from other traders
- Analyse the performance of signals in great detail
- Automate your trading which can save time
- Account protection features to help limit risk
- Easy to navigate platform with lots of features
- Free to open an account to test the service
- Active community to meet likeminded traders
- Must use a compatible broker
- Quality of signals are not guaranteed
- Many signals to go through can make it hard to find a good trader
- No self directed trading platforms
ZuluTrade is an online social wealth management platform where you can share or copy the signals of other traders. Founded in 2007 by Leon Yohai and Kosta Eleftherious, they initially set out to build a trading software that would allow you to copy the forex trading signals of the best forex traders. I find it quite impressive how ZuluTrade has since grown into one of the most popular and largest social trading platforms with billions of trading volume being executed through the platform.
You can join ZuluTrade from anywhere in the world to connect your account and share your trading strategy with others. These trading strategies are primarily ranked according to the return on investment (ROI) and risk, although you can filter them by many other important factors such as duration, profit factor, average win/loss, drawdowns, etc. Though I have to say, the past performance of traders on ZuluTrade is by no means a guarantee of future performance. I actually prefer to maintain control over my own trade decisions but understand how it can be a good solution for anyone who doesn’t have the time or experience to trade by themselves.
You can search through the trading strategies on the ZuluTrade platform and choose those that you wish to copy with your chosen capital and level of risk. I like how they give you the ability to copy multiple trading strategies at the same time, creating your own unique portfolio. Strategies can also be added or removed at any time according to your preferences. I like how this makes ZuluTrade a flexible social trading platform for copy trading, allowing you to copy other traders if you have little experience.
I find ZuluTrade to be one of the most advanced and feature-rich social trading platforms that can be fully customised according to your individual requirements. The ZuluTrade platform contains many useful features including Automator, ZuluGuard, crypto trading and auto trading. However, I think eToro would be a better option in my opinion simply because they have a larger user base along with some other innovative features.
ZuluTrade is established globally, it is regulated in EU and Japan and used by millions of investors worldwide. The ZuluTrade copy trading platform is provided by Triple A Experts SA. They are EU regulated by Hellenic Capital Market Commission (HCMC). This means that they must comply with a set of rules and regulations for auto trading service providers.
Through ZuluTrade, you can connect your own online brokerage account to provide or copy signals from, thus you can ensure you opt to use one of the regulated brokers from the 70+ that are compatible with the ZuluTrade platform. You can see an up-to-date list of brokers that support ZuluTrade on the ZuluTrade website.
As ZuluTrade is an online social trading platform, you can use your own online broker provided they are supported by the ZuluTrade platform. I appreciate how they currently support brokers from all over the world including the United States, Europe and many other countries.
The ZuluTrade platform has an intuitive user interface and runs either directly within your web browser or via the ZuluTrade Android, iPhone, iPad and desktop widget apps. I like this platform as you can quickly and easily navigate the different trading strategies, filter and sort them, compare them and more.
Through the ZuluTrade platform you can find strategies in different markets including forex, stocks, indices, cryptos, commodities, etc. You are able to copy strategies that you believe are suitable to your investing goals. The ZuluTrade platform is split into 2 categories:
- Traders who provided strategies that can be copied and receive a commission fee depending on their success
- Investors who choose to copy the traders. They can also copy the portfolios of other followers
Each of the trading strategies within the ZuluTrade platform contains a brief description by the provider along with detailed statistics including:
- Duration the trading strategy has been running (weeks)
- Return on investment (ROI)
- Pips gained
- Current open positions
- History of trades
- Number of trades
- Maximum open trades
- Win rate
- Average win
- Instruments traded
- Number of followers
Having these statistics readily available to view and compare, helps make finding a suitable trading strategy to copy signals from as easy as possible. You must know that ZuluTrade does not recommend or make any implications about the future performance of any of the trading systems on their social trading platform.
The Automator feature of the ZuluTrade platform lets you create your own rules for your auto trading. The Automator can monitor your account 24/7 and act as your personal trade assistant by notifying you when certain events occur or execute a predefined action you would have otherwise have done yourself. I like how you can set rules to lock in profits once a target is reached, update stop loss for selected trades, close trades that are profitable or to simply notify you. Creating a rule is simple, you simply give your rule a title, a short description and set the conditions and actions you would like to happen for your rule. Once the rule is activated, you will receive an account notification, along with a relevant email.
ZuluGuard is an account protection feature that can monitor your trading activity and remove them if it detects that the trading strategy has deviated from its expected loss profile. ZuluGuard automatically calculates a trading exit value for the trades that are open within your account according to your specified capital protection amount. I like how once this threshold is hit, ZuluGuard will step in and close all open positions and disable the trader instantaneously. I appreciate that this capital protection feature is available to all ZuluTrade investors and is in fact a mandatory requirement for the EU services as it creates a protective shield for your investment capital.
ZuluTrade provides you with the opportunity to AutoTrade some of the most sought-after cryptocurrency pairs available including BTCUSD and ETHUSD. You can copy experienced crypto traders from around the world through ZuluTrade’s fully-fledged web-based trading platform.
UserLists enables you to create your own lists of traders based on different categories so that you can group them according to performance, share their lists and choose the trading strategies best suited to your individual investor needs.
The TradeWall provides you with a live feed of ZuluTrade’s trading activity. I like how this shows which assets are being traded, prices, times and order status. There is also a market sentiment tool that shows which assets were selected by ZuluTraders and investors during the last 4 hours.
The calendar shows important upcoming events displayed in the UTC time zone by default although this can be adjusted to your own time zone. This is my favorite tool as it makes it easy to track up and coming news releases along with the impact they could have on the markets. An economic calendar is commonly used as part of the fundamental analysis of a trading strategy.
There is a selection of useful market research tools provided by ZuluTrade including currency converter, pip value calculator, margin calculator and a profit / loss calculator. I find these convertors and calculators to be extremely useful for beginners who don’t know how to calculate on their own yet.
There is a ZuluTrade blog where they post frequent articles across a variety of different trading topics including tutorials, new features and detailed market analysis. I like the market view articles as they cover a variety of fundamental and technical analysis across multiple markets and can also be used to help inspire potential trading opportunities.
There is a social trading community forum where traders and investors can discuss anything from strategies to the platform features, auto trading and more. I appreciate how they’ve provided a facility where you can leave feedback and suggestions to the ZuluTrade development team.
The ZuluTrade signals are mainly on forex currency pairs although some traders provide trading strategies on other markets including stocks, indices, cryptos, commodities, etc. If you are looking for another social trading platform that also operates as a broker and has a fantastic selection of financial instruments, you can check out AvaTrade.
It is completely free to open a ZuluTrade account and take advantage of their social trading platform. All you need to do in order to provide or copy trading signals is to sign up to a brokerage account from one of their 70+ compatible online brokers. They even have their own brokerage firm, AAAfx. You can start with a demo account to familiarise yourself with this copy trading service if you wish.
ZuluTrade make a profit via commission that they get for referring you to brokers. Thus, the minimum deposit requirement, commission fees, spreads and leverage will all vary depending on the broker that you choose.
As fees can vary and change from time to time, there may be additional fees that I may not list in this ZuluTrade review. I believe it is thus imperative to ensure that you check and understand all of the latest information before you open a ZuluTrade social trading platform account.
There is a multilingual customer support team that is readily available to answer any general or technical questions that you may have regarding the ZuluTrade platform. The customer support team is available 24/5 from Sunday 21:00 UTC to Friday 22:00 UTC. I would’ve loved to see them offer customer support for their services on the weekend as well.
As you do not deposit any funds directly with ZuluTrade, the funding options will depend on those offered by the online broker you are using. Most brokers will offer wire transfer and credit/debit card transfers although it can be useful to use a ZuluTrade compatible broker like Fxview who accept a great variety of payment options including digital wallets and BTC. Make sure that the online brokerage that you opt for has a method of account funding that is suitable for you.
|This Broker||AvaTrade||IG||IC Markets|
|Regulated||ADGM FRSA, ASIC, BVIFSC, CBI, FFAJ, FSCA, IIROC, JFSA||ASIC, BaFin, CFTC, DFSA, FCA, FINMA, FMA, FSA, FSCA, JFSA, MAFF, MAS, METI, NFA||ASIC, CySEC, FSA, SCB|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Options, Bonds, ETFs||Forex, Commodities, Crypto, Stocks, Indices, Bonds|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API||MetaTrader 4, MetaTrader 5, cTrader|
|Funding||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets||Bank Transfer, Credit/Debit Card, E-Wallets|
Overall, ZuluTrade is one of the industry leading social wealth management platforms alongside eToro and NAGA. They offer free sign up and work with over 70+ online brokers. They are regulated in the EU and Japan, and have users including talented traders from across the globe.
The ZuluTrade platform is very easy to use and I like how it has some very useful tools for filtering trading strategies which makes it quick and easy to find suitable strategies to follow. They provide additional tools such as the Automator for managing your position when you are away and the ZuluGuard to help protect your account.
This social trading platform can run on desktop, web and mobile devices. This makes it suitable for trading whilst on the go from anywhere in the world with an internet connection. In addition to this, I also really appreciate they provide multilingual support. I think they can be a great option for anyone who does not have the time or skills to trade manually but want access to thousands of trading strategies to copy signals from in a regulated environment.
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