Welcome to our genuine Zulutrade review written by a trader who also wrote the world famous Zulutrade Guide & Review on TheFXView.
Social and copying trading first came on the scene in 2008 and has the potential to revolutionise investing forever. With copying trading opening up a whole new range of investment opportunities for those who do not years of financial trading experience. ZuluTrade was one of the early innovators in the field and today remain one of the prominent names in the world of social/copying trading.
The premise behind ZuluTrade is simple. Investors can open a trading account with one of the 5 supported brokerages. But rather than trade the account for themselves they simply pick from a selection of Signal Providers who place and close trades for them. In theory this allows for investors to profit from the FX markets without having to trade themselves. In return, the traders who are providing signals for users of the platform receive a small amount of commission which varies from broker to broker. This means the arrangement is beneficial for both the investor and the trader who is providing the signals.
Huge Array Of Signal Providers
The ZuluTrade platform boasts a huge array of signal providers to choose from with the platform boasting 20,000+ providers. Many of these providers have impressive track records and have provided consistent returns for users who have decided to copy their trading activity.
The ZuluTrade platform allows users to browse through all of these signal providers and view their full trading history. This helps investors identify which of ZuluTrade’s many signal providers represent the best investment opportunity. Typically, users of the platform opt to follow a small portfolio of traders once they have identified those who they believe to posses the best trading strategies. Signal providers are also automatically ranked by ZuluTrade’s own proprietary algorithm which makes the job of identifying the best signal providers a little bit easier.
The algorithm has come in for a little bit of criticism, as some users of the platform believe that it does not always rank the best traders at the top of the platform’s list. This why it is recommended that you do your own research before selecting which Signal Providers to automatically copy. There are also additional risk settings which allow users of the platform to limit their risk and set certain safeguards. Those using ZuluTrade should take some time identifying the best signal providers and customising their risk settings to get the most from the platform.
One advantage of ZuluTrade over many of it’s competitors is that the service is broker independent. This means that investors can choose which brokerage to use with the ZuluTrade service. All of the supported Forex brokerages are highly reputable and regulated in respectable jurisdictions. The level of commission by the brokerages varies, but those opting to trade with ZuluTrade’s own brokerage (AAAFx) will not have to pay any commission at all. Many traders opt to use AAAFx, as the brokerage is the best integrated with the ZuluTrade platform. This means the best results are often achieved in conjunction with an account at AAAFx. ZuluTrade itself is a regulated entity within the European Union and also has licences to act as an introducing brokerage in the United States. This provides users of the platform with additional peace of mind.
The First Binary Options Copy Trading Product
In 2015 ZuluTrade launched it’s Binary Options copy trading product, with the ZuluTrade becoming the first regulated institution to offer such a service. The ZuluTrade Binary Option service works in a very similar manner and allows investors to automatically copy the positions opened by those providing signals on the platform. Again ZuluTrade is brokerage independent with it being possible to select between 7 EU regulated Binary Options brokerages when opening an account with the service. Investors are again able to choose from a wide selection of signal providers, with the most highly ranked signal providers having attracted large followings on the platform. The Binary Options service is still relatively new and as such the community is small but growing at a rapid pace. It should be remarked that ZuluTrade is probably the best option for those looking Binary copy trading service.
So can you make money with the ZuluTrade service? The short answer is yes. Though ZuluTrade should not be seen as an easy way make money. Those who have had the best experiences with the platform have generally spent time and effort to determining which of the platform’s 20,000 Signal Providers will offer them the best returns. It is also important to spend time determining what risk settings to use in conjunction with your selected signal providers.
It is also highly recommended that those using the ZuluTrade service actively monitor their accounts and make changes should they be required. For instance, it is highly recommended that users actively monitor the performance of their Signal Providers and change who they copy should a signal providers performance begin to lag. As evidenced by figures provided by ZuluTrade their seem to be a significant number of users who have made significant sums using the company’s copy trading service. Those who experience the best results seem to be those who are highly engaged with the whole process and ZuluTrade shouldn’t been seen as a way to simply print money.
- EU Regulated Copy Trading Service.
- Broker independent with a selection of well regulated and highly reputable brokers.
- Huge community with the platform boasting over 20,000 Signal Providers.
- Ability to view and download full trade history allowing investors to identify the best traders to copy.
- Impressive selection of traders who have delivered long term returns with minimum drawdown.
- Comprehensive risk management settings allowing investors to limit their risk and manage their accounts more effectively.
- Some brokerages charge commission of up to 1.5 pips.
- ZuluTrade ranking algorithm not entirely reliable.
- Varying quality of signal providers, requiring investors do their own research and risk management.
Those looking for a copy trading service should seriously consider ZuluTrade who have rightfully remained a leader in the field since the service launched back in 2008. Those who do use the service are advised to remain actively involved and spend time managing their accounts in order to achieve the best results.