Founded in 2007, Zulutrade was created to introduce a web-based platform where traders on a global-level can connect any trading platform and share their knowledge. Its patented online social and copy trading platform earned the site to draw around one million users and still growing.
Learn more about Zulutrade – its offered trading conditions and trading platforms – by reading this detailed review.
Zulutrade Background & Safety
ZuluTrade is an online forum for social trading and copying. Essentially, to reach a degree of automated trading, it enables traders to copy the trades of seasoned traders in the forex and financial markets. The social aspect, however, also allows traders to leave feedback and to exchange ideas. It currently has about one million users and carries out a trading volume of over $800 billion. This analysis of ZuluTrade will break down how it operates, covering prices, live accounts, feedback of users, rules, and more.
Founded in 2007, ZuluTrade is a Greek fintech firm that has developed into one of the dominant players in the Forex sub-sector of social trading. In 2011, the Daily Telegraph named the company to its Start-Up 100 list. By 2013, the company expanded to over 120 staff, expanding into Japan the following year with the acquisition of Market Crew Investment Advisor LTD, a controlled investment advisor.
Zulutrade is regulated by the Hellenic Capital Markets Commission (HCMC). Its Japanese subsidiary is licensed as an investment advisor with the Kanto Financial Bureau (KFB). In the US, as an IB and a commodity trading advisor, it is registered with the Commodity Futures Trading Commission (CFTC).
However, the CFTC fined ZuluTrade $150,000 in 2014, and the company had to disgorge $80,000 in commissions and fees for failure to comply with the rules of the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury.
Zulutrade Features & Fees
Market Coverage
Zulutrade provides traders access to three financial markets including CFD, Forex, and Cryptocurrencies.
Account Types
Zulutrade only offers two trading accounts: Classic and Profit Sharing. Let’s get to know what each account type has to offer.
Classic – this account suits experienced users. You will benefit from copy-trading that is manual or completely personalized, plus regular volume-based commissions. Before you open a signal provider account, however, be sure you are sufficiently experienced.
Profit Sharing – this account is ideal for beginners as you get to learn by copying others. When you profit, traders will be paid and penalized when they lose. You benefit from decreased commissions as well.
Both options give you access to charts, info, forex signals, and alerts. Both also allow for easy account upkeep. Head over to ‘my account’ and, from checking performance rankings to the ‘delete account’ button, you can get access to all the basic functions.
Zulutrade also offers a Demo account for traders who want to familiarize themselves with the trading environment of Zulutrade as well as practice trading strategies without financial risks. You can view in-depth analysis and track trading gurus using the Demo account. To find the best settings, brokers, plus tips and tricks, you can also use its social features.
Unique Features
Signing up for a Classis account, here are some of the features Zulutrade has to offer its clients: Lock Trade (verifies trade execution after receiving the signal), Automator (helps you minimize risk and free up time by notifying you by email or automatically executing actions when events occur, social network features, Margin Call-o-Meter (an indicator that helps you establish how much of your capital you are actually risking), ZuluScript (Expert Advisors), ZuluGuard (a risk management tool that protects Copy Traders if erratic trades are opened by traders they are following), and economic calendar.
Trading Fees
Zulutrade’s minimum deposit is $1. In addition to the normal spread, a commission is charged per trade by the brokers for linking your account to ZuluTrade.
Funding Methods
Depending on the broker the trader uses, deposit and withdrawal options will vary, but they include PayPal, bank wire transfer, and ZuluTrade Mastercard.
Zulutrade Trading Platforms & Tools
Unfortunately, Zulutrade does not have a trading platform. However, Android and iPhone trading applications in MT4 are supported by ZuluTrade. They can also download their trading software for those with Windows mobiles and tablets. You can view your results once in the framework, check fresh traders to copy, plus close trades manually. In addition, pick go ‘real-time’ and your risk settings can be controlled.
In terms of trading tools, research, and educational materials, Zulutrade provides training videos, tutorials, user guides, and PDFs. They also sport Followers Academy where traders can get advices on how to select from their pool of sponsored brokers. Other tools include Pip calculator, Profit calculator, Margin calculator, Currency calculators, Economic calendars, and Market News.
Bottom Line
ZuluTrade is a well-established platform for social trading that is properly regulated. ZuluTrade should be on top of investors’ list that is inclined to a social copy trading platform.