ZuluTrade Review 2022

4.1
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Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets

InstrumentsCFDs: Forex, Stocks, Cryptos, Commodities & Indices
Demo AccountYes
Min. DepositBroker choice dependent but balance on ZuluTrade should exceed $100
Min. Trade$1
Regulated ByHCMC & General Japan Investment Advisers Association
MetaTrader 4Yes
MetaTrader 5Yes
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsiOS and Android
Margin TradingNo
Volatility IndexNo
Spot TradingNo
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingYes
TournamentsNo
Demo CompetitionsNo
Managed AccountsYes
Market MakerNo
Auto TradingZuluTrade are market leaders in automated trading. From scripts, to auto execution, APIs or copy trading.
Social TradingYes
Copy TradingYes
Trade SignalsYes
Islamic AccountYes
CFD TradingInvest in traditional and emerging markets in line with your broker's supported assets.
CFD FTSE SpreadBroker dependent
CFD GBPUSD SpreadBroker dependent
CFD Oil SpreadBroker dependent
CFD Stocks SpreadBroker dependent
CFD Leverage1:500
Forex TradingClients can speculate on an extensive list of currencies, dependant on the supporting broker.
Forex GBPUSD SpreadBroker dependent
Forex EURUSD SpreadBroker dependent
Forex EURGBP SpreadBroker dependent
Forex Assets500+
Crypto TradingZuluTrade work with a range of brokers that deliver trading on a huge range of cryptos - See each brand for specifics
Crypto SpreadBTC 1%, ETH 1.6%
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
Risk Warning – Your capital is at risk

ZuluTrade is the oldest and most recognizable social wealth management platform. Essentially, it allows investors to follow and mimic the trades of experienced traders in the forex and financial markets. However, the social element also enables traders and investors to leave feedback and share ideas. Today it boasts around two million users and executes a trade volume in excess of $800 billion. This ZuluTrade review will break down how it works, covering costs, live accounts, user reviews, regulations, and more.

A Brief History

ZuluTrade was founded in 2007 by Leon Yohai and Kosta Eleftheriou. Leon Yohai wanted to build software that allowed him to copy the trades of the best traders. By 2009, the company had over 4,500 ‘expert’ traders (signal providers), and it was their portfolios who users could copy to make money.

By the time 2014 rolled around, ZuluTrade had re-designed their website, added a number of features, such as ZuluGuard, and had 120 employees, 40 of whom were in customer support.

2015 brought with it a success as the platform was awarded an EU Portfolio Management License from the European Union. The resulted in the company becoming both legitimate and respected in the trading world.

In December 2021, ZuluTrade was acquired by Finvasia; a global fintech company. Over the years, ZuluTrade has collaborated with many brokers and added several new features to its offering, including the ability to copy CryptoTraders as well as the launch of Combos and Crypto Payments.

As a result, the firm has grown to become a leading copy-trading platform with users in more than 150 countries and over 90,000 traders to choose from.

Minimum Initial Deposit

The minimum deposit varies from broker to broker. Certain brokers available with ZuluTrade require a minimum deposit of just $1, others may require $300, £210, €250, 25,000 JPY or 300 AUD.

Clients must keep a balance of at least $100 in their ZuluTrade account in order to stay connected to the platform.

Spreads & Commissions

Broker commission largely depends on the volume traded by the client. Some brokerage firms might also charge a commission or have increased spreads when a trade is placed.

The spread (the difference between the buy and sell price) will vary between brokers. The currency pair and time of the day can also influence the spread. For example, brokers often widen spreads during periods of high volatility.

Leverage

Most people are aware leverage can be used to increase potential earnings. However, before you download an account, you should also note trading on leverage can amplify losses and open you up to margin calls.

Normally, the higher the leverage, such as 1:1000, the lower the used margin, which usually means an increase in the free margin and margin level. However, this can lead to overtrading and with a high drawdown, your account may hit a stop out level.

So, to avoid risk, it’s often recommended to use 1:100 leverage.

Nonetheless, it is important to keep in mind that the maximum leverage will be determined by the selected broker.

Other Trading Fees

Before you sign up and log in to ZuluTrade, you should also be aware of any additional costs. For example, you can be charged an overnight rollover/swap fee by your broker. The amount will depend on the currency pair you are trading. Although these costs can cut into profits over a considerable time period, intraday traders shouldn’t usually encounter these fees.

Aside from that, there aren’t any other additional costs. ZuluTrade has explained on their website that the traders you copy are paid directly by ZuluTrade, as part of the commission.

It’s also worth noting that if you head over to their website, every now and then you may find deposits bonuses and promotions.

Trading Platform

How It Works

The ZuluTrade trading platform collaborates with brokers that provide trading for stocks, cryptos, forex, commodities, such as oil, and indices, such as the NASDAQ. The platform then allows you to clone the strategies of top traders.

For those wondering how it works, the user base is essentially split into two categories:

ZuluTrade signal providers

Features

Once you have your Classic login account details, you can then start using a number of useful features, including:

In addition, if you’re concerned about how to choose a trader on ZuluTrade, you can use the ZuluRank calculation. This proprietary algorithm ranks traders by a number of different factors, including:

ZuluTrade To MetaTrader

It is possible to link an external live or demo MetaTrader 4 (MT4) platform to a trader account. So, for those asking does ZuluTrade work with MetaTrader accounts? The answer is yes.

ZuluTrade vs Competitors

What does ZuluTrade offer vs eToro, Mirror Trader, NinjaTrader and other systems? You can easily view rankings of investor performance. The simulator also shows the overall profit.

Perhaps it is the sheer number of traders you can copy that sets ZuluTrade apart. You have access to over 90,000 traders from 192 countries. You can then use ZuluTrade’s advanced search engine to hone in on the best. For example, you can choose to see only those who have traded their own money, had a maximum drawdown of 20%, and have traded for at least a year.

Many users also like to copy more than one trader. So, you can utilise UserLists to manage your potential candidates. This will also allow you to monitor an individual for a while before copying. In addition, you can share lists amongst users.

After you have found a trader you wish to follow, you can assign a specific amount you want to trade per signal you copy. Alternatively, there is a ‘Pro rata %’ option. For example, 20% would mean if the trader opened 1 lot, 0.2 lots would be opened in your account. On top of that, you can set a ‘Max Open Position’ for a particular trader.

You can review your account performance at any time. Daily and weekly summary reports will be sent via email. You will also receive email notifications when the behaviour of one of your traders changes. In addition, you can review trade performance by trader and time frame. This should help you establish who has been generating gains and losses in your account.

Mobile Apps

ZuluTrade also provides Android and iPhone trading apps. Those with Windows mobiles and tablets can also download their trading apps. Once in the application, you can view your performance, review new traders to copy, plus close trades manually. In addition, select go ‘real-time’ and you can manage your risk settings.

Overall, the ZuluTrade applications and mobile site effectively compliment the desktop-based platform. Plus, functionality has continuously improved with each update.

Methods of Payment

Payment methods for traders are as follows:

For investors, deposit and withdrawal methods will vary depending on the broker they select.

ZuluTrade Accounts

When opening a live account, new users will have access to the Classic account…

The Classic account is suitable for beginner as well as advanced users. You will benefit from manual or fully customised copy-trading, plus traders can enjoy standard volume-based commissions.

This account gives you access to charts, data, alerts, and forex signals. It also allows for straightforward account maintenance. Head over to ‘my account’ and you will get access to all the basic functions, from reviewing performance rankings to the ‘delete account’ button.

The Classic account contains numerous benefits including:

After setting up your account you will then need to choose between supported brokers. Details of which can be found further below.

Demo Account

Practice ZuluTrade simulator account
ZuluTrade offers a free fully functioning demo account. Simply head over to their website and select the demo option. You will then need to enter the following basic information:

Once you have your demo login details, you will be able to conduct in-depth analysis and follow trading gurus. You can also use their social features to find the best settings, brokers, plus tips and tricks.

Overall, the demo account is easy-to-use and replicates many of the features you will get, should you choose to upgrade to a live account.

How To Become A Trader

Many reviews highlight that educational sources focus on forex trading videos and broker comparisons while leaving out guidance on how to become a trader. Yet some of the best ZuluTrade success stories are from those who have in effect sold the rights to their trading strategies.

This is because you get 0.5 pips per lot traded by someone following you with a real money account. So, if you can accumulate over a hundred investors, that can add up to fairly significant commissions.

Tips

Obviously, you can’t maintain a negative balance, but what else would a good trader guide recommend you do to get a sizeable amount following you?

Additional Features

Forums and blogs are quick to highlight that there are a number of attractive additional features you get with ZuluTrade. These include:

On top of that, there are also training videos, tutorials, user guides, and PDFs that should be able to help you with any problems. Through their Followers Academy, they also offer advice on how to choose from their long list of supported brokers.

Safety & Security

ZuluGuard is often highlighted as a particularly well-liked feature in review forums. It is an effective account protection feature. It works by monitoring each trader’s behaviour and removing a user when a draconian strategy is detected. This should help keep your income safe from erratic traders.

Also, note you can manually set the ZuluGuard protection by looking at the Advanced Mode in the Settings section of your account.

Regulation & License

The ZuluTrade trader program is regulated. As a copy trading solution for brokers in the EU, ZuluTrade has obtained a Triple-A Experts SA license from Greece’s Hellenic Capital Market Commission (HCMC).

The platform is also regulated in Japan (2014 – No. 1058 Member Associations / General Japan Investment Advisers Association).

Unfortunately, this does not automatically mean you will now be able to receive huge millionaire payouts without any risks. It simply means according to ZuluTrade, that their platform fully complies with EU framework for auto trading service providers. As such, brokers do not require additional regulation themselves to offer the platform to their clients.

Benefits

ZuluTrade traders’ reviews are particularly impressed with a number of features found on the platform. These include:

Drawbacks

Despite many of the benefits highlighted in Zulutrade.com reviews, there are also certain downsides and risks to consider. These include:

To conclude, you shouldn’t necessarily run to ZuluTrade alternatives because of the downsides listed above. These are problems with most similar sites. As long as you are aware of the risks and willing to put in the time, you may still make attractive gains.

Trading Hours

Trading should not be performed outside of ZuluTrade’s market hours. The market opens at Sunday 21:00 UTC and closes Friday 21:00 UTC. During Eastern time daylight saving, the market will open on Sunday at 17:00 UTC and close Friday 17:00 UTC.

Note trading hours are close to competitors and similar sites.

Contact & Customer Support

If you have any technical issues or account requests, such as to change leverage, simply head over to the ZuluTrade homepage. From there you can find live chat is available 24 hours a day. This is the most popular method of contact for ZuluTrade users at present.

On top of that, there is email and phone support in more than 20 languages, plus a 24-hour hotline. You can also go about using the ZuluTrade website to submit feedback via an online form or by selecting ‘contact us’. The website is available in all of the following languages:

ZuluTrade support lang

In fact, their long-term commitment to reliable customer support was recognised with a BrokerNotes triple AAA support rating.

ZuluTrade Verdict

Overall, the ZuluTrade.com offering is attractive to traders of all experience levels. The ever-growing number of users alone demonstrates that. Yet despite being user-friendly, the service does work best if you opt for the company’s own brokerage, AAAFx.

In addition, staying profitable isn’t always straightforward. You need to be aware revenue can disappear just as quickly as it appears in your account. So, having an effective strategy and money management system in place is essential.

Accepted Countries

ZuluTrade accepts traders from Australia, Thailand, Canada, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

Traders can not use ZuluTrade from United States, United Kingdom, Belgium, Iran, Syria, Sudan.

Alternatives to ZuluTrade

If you are looking for alternatives to ZuluTrade we have compiled a list of the top 5 brokers that are similar to ZuluTrade below. This list of brokers like ZuluTrade is in order of similarity and only includes companies that accept traders from your location.

  1. AAAFx – AAAFx offers CFD trading in forex, commodities, indices and cryptocurrencies.
  2. eToro – eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs. eToro USA LLC does not offer CFDs, only real crypto assets available.
  3. IG Group – IG-US offer spread betting, CFD and Forex trading across a range of markets. They are FCA regulated, boast a great trading app and have over 47 year track record of excellence.
  4. LQDFX – LQDFX offers online trading with multiple STP accounts and MT4 analysis tools.
  5. Forex.com – Forex.com boast a global reputation. Regulated in the UK, EU, US and Canada they offer a huge range of markets, not just forex, and offer tight spreads on a cutting edge platform.
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets

ZuluTrade vs Other Brokers

Compare ZuluTrade with any other broker by selecting the other broker below.

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