ZuluTrade Review 2023 Social trading platform for copy trading
Copy trading is a type of automated trading that allows users to copy the trades of experienced and successful professional traders. It involves connecting accounts so that when one trader makes a trade, the same trade is automatically copied into another account. This allows followers to benefit from the expertise of these top traders without having to manually execute every trade.
There is also a forum which caters for all levels of trader and is the perfect place for you to ask questions and build relationships with other investors and signal providers. ZuluTrade have become one of the biggest copy trading platforms and signal providers in the sector. This is thanks in part to the wide, and ever expanding range of features they offer both traders and signal providers. Some of these features include profit sharing accounts where investors trade with discounted commissions and then pay traders from their monthly earnings.
The vast range of extra functions designed specifically for investors makes the ZuluTrade copy trading platform stand out. It is one of the best choices for investors in the field of copy trading because of these crucial features. These features not only ensure an effortless transaction but also assure that users have all the tools and resources they require to be successful with their efforts.
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. The customer support team operates 24 hours a day, five days a week. While this might seem somewhat limited compared to some of the other larger brokers, it should be remembered that this covers active trading hours. As such, the lack of 24/7 customer support should not be too much of an issue.
ZuluTrade Review – Company Information
Benzinga contacted ZuluTrade to determine its customer service, and an agent responded within a minute on the live chat. The agent was knowledgeable in various inquiries and determined to solve any issues that needed clarification. Asktraders is a free website that is supported by our advertising partners. As such we may earn a commision when you make a purchase after following a link from our website. Whether you get charged any fees for using ZuluTrade will depend on what type of account you have.
- However, there are always trading fees in the forex market and the experienced forex traders you copy trade will also earn some commission from the people who follow them.
- Zulutrade has offices in 5 countries and provides its services in over 150 countries.
- ZuluGuard automatically calculates a trading exit value for the trades that are open within your account according to your specified capital protection amount.
- Since they are primarily a copy trading service, they may not be suitable if you have no interest in actually copy trading.
Investors need to create account with ZuluTrade’s broker partners or link their existing client trade account to benefit from the platform’s offering. ZuluTrade’s copy and social trading services are available to cryptocurrency trades, forex, stocks, commodities and indices traders. 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 prefer to look for experienced forex traders with a proven track record (2+ years). Even so, it is still very high risk and losses can be incurred very quickly especially if the trader is not using a stop loss. Just because you can easily copy trade does not mean that you are copying experienced traders that will consistently outperform the market. Also, trading fees can be quite high, even though the platform itself is free to use.
ZuluTrade Review – Step 1 : Signing In or Opening An Account
You can also investigate the different instructional tools and acquire knowledge sources on the ZuluTrade copy trading platform to develop your financial skills and understanding. A user-friendly platform is extremely important because it removes the need to learn complicated navigation, allowing for a quick understanding of the platform’s primary characteristics. In addition to serving new traders, this intuitive user interface improves the trading experience for seasoned experts by simplifying their procedures for effective and hassle-free trading. Ultimately, ZuluTrade does not make any promises which they cannot support. This means you sign up with a partnered broker, link this account to your ZuluTrade account, and trade with standard, volume based commissions and no performance based fees.
ZuluTrade Spreads & Commissions
The SMA (Simple Moving Average) and EMA (Exponential Moving Average) are both indications of technical (statistical) readings f the price movement. These are used to fill in the effects of the proven volatility and creates a more lucent picture of the price trend changes. The Parabolic Stop and Reverse (parSAR) which is a time and price-based indicator.
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Once you are set up as a trader with ZuluTrade you will be compensated depending on the volumes traded through the ZuluTrade account. Overall then, if interested in copy trading there is no doubt ZuluTrade can be a good choice and one which many investors choose and are happy with. However, users need to contact a preapproved broker to determine their fees. Deposit and withdrawal fees depend on the broker’s pricing policy and so do the minimum withdrawals. ZuluTrade collects a user’s private information when applying for a demo or real account. It will require users to submit documents to verify their identity.
Copy Trading Platforms
Some of them are clear martingale traders and that will catch out newbies.But if you stick to trader with long history, low draw down and small stop loss then you can get some good traders. Often they are ranked over 50+ so it use the filters provided.I would also like to see a wider range of brokers that you can use for signal provider. ZuluTrade was originally founded in zulutrade review 2007 by Leon Yohai and Kosta Eleftherious. They wanted to build a software that would allow them to copy the forex trading signals of the best forex traders. After just a few years, ZuluTrade had a few thousand experienced traders providing forex signals that users could copy signals from. The idea here is exploring the markets with the edge that an experienced trader has.
ZuluTrade integrates the MT4 trading platform and requires very little set up to get running. The MT4 trading platform is arguably the most popular trading platform out there and is suitable for both beginner and advanced traders. Based on the research conducted for this ZuluTrade broker review, we were unable to find details on any industry awards that ZuluTrade has won. However, it should be noted that ZuluTrade has partnerships in place with a number of award-winning brokers. Although a lack of direct awards might put off some prospective users, we should keep in mind the nature of the service that ZuluTrade offers.
For novice traders, this is an perfect method to obtain going by building a benefit within the business. Leaving all of the heavy lifting for a preferred traders hasn’t been easier. In this time period it is possible to concentrate on establishing your industry knowledge during the educational infrastructure and celebrating the strategies employed by your preferred traders.
As an investor here you will be copying traders on the platform with a range of different features on offer depending on your level and goals. ZuluTrade offers various video tutorials to help traders understand how the platform works. Some of the tutorials provided are how to follow a trader, browse a trader’s profile, create a real and demo account, as well as using advanced search techniques. 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).
