ZuluTrade Review 2023
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ZuluTrade provides social and copy trading services across forex, indices, stocks, cryptocurrencies, commodities and more. Over 90,000 traders are available to follow.
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Clients can speculate on an extensive list of currencies, dependant on the supporting broker.
Speculate on stocks and shares on various exchanges in line with the supporting broker's offering.
Invest in traditional and emerging markets in line with your broker's supported CFD assets.
ZuluTrade works with a range of brokers that deliver trading on a huge range of cryptos - see each brand for specifics.
Investors can follow the strategies and positions of 90,000+ traders spanning a range of financial markets. ZuluTrade is one of the top-rated and regulated copy trading platforms.
- Best Social Trading Solution at UF Awards 2022
- Best Social Wealth Management Platform at Forex Expo Dubai in October 2022
- Best Social Trading Solution Award at iFX EXPO Dubai 2023
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 2023 ZuluTrade review will break down how it works, covering costs, live accounts, user ratings, regulations, and more. Find out if our experts recommend signing up with ZuluTrade.
ZuluTrade is a Finvasia Group company, founded is 2007 by Leon Yohai and Kosta Eleftheriou. Leon Yohai wanted to build software that allowed him to copy the positions of the best traders in the market. Today it is regarded as one of the most innovative copy trading tools in the world, operating from a headquarters in Piraeus, Attiki, Greece.
Throughout its history, the company goal has remained the same; ‘to become the world’s largest social trading community on the globe, offering customer-focused investment solutions where traders on a global level can connect to any trading platform and share their knowledge’.
Key milestones include:
- 2008 – ZuluTrade develops a software that connects to FXCM’s API. It enables the first basic form of copy trading strategies
- 2009 – The company had over 4,500 traders, and it was their portfolios that users could copy to make money
- 2011 – ZuluTrade releases several new features including the ability to follow other individuals rather than just signal providers
- 2013 – ZuluGuard™ launched to protect retail investors from adverse trading strategies offered by traders
- 2014 – ZuluTrade re-designed their website, added a number of features and had 120 employees, 40 of whom were in customer support
- 2015 – The platform was awarded an EU Portfolio Management License. This resulted in the company becoming both legitimate and respected in the trading world
- 2017 – Cryptos CopyTrading was introduced allowing retail investors to participate in the growing digital currency market
- 2018 – Combo portfolios were launched from trade combinations of the best ranked traders
- 2019 – Profit Sharing is introduced as a new account for retail investors meaning payment is only made to traders if their strategy is profitable
- 2020 – Stock CFDs and follow trading were introduced
- 2021 – ZuluTrade joins the Finvasia Group in December 2021
- 2023 – ZuluTrade upgrades its social trading platform with a transparent pricing plan, smoother onboarding process, and enhanced social feed
Today, 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. Over 60 brokers worldwide offer ZuluTrade’s cutting-edge technology with over 1.5 million registered users across the globe.
The ZuluTrade trading platform collaborates with brokers that provide trading on stocks, cryptos, forex, commodities such as oil, and indices such as the Nasdaq. The platform then allows users to review and clone the strategies of top traders.
How It Works
The user base is essentially split into two categories:
- Traders – These are normally traders who are willing to share their positions and be copied by investors. Their compensation fees are determined by the lot size being traded.
- Investors – These users can copy the strategies of the traders.
Once you have your ZuluTrade account login account details, you can start using a number of useful features, including:
- Lock Trade – This allows you to verify the execution of a trade after the signal has been received.
- Automator – Introduced in 2016 ‘The Automator’ notifies users by email or automatically executes actions when events occur. This function acts on rules that you add. For example, if profit and loss from Trader X is more than $1,500, then lock the current profit. This can help you minimize risk and free up time.
- Social network features – These include forums and comment sections, plus the ability to upload photos, videos and market news. Here you can review traders, offer advice and ask questions.
- ZuluScript – This enables you to create scripts that form the parameters for trading bots. These are also commonly known as Expert Advisors (EAs). This gives you trade automation, allowing you to execute far more trades than you ever could manually.
- ZuluGuard™ – A unique feature that protects investors if erratic trades are opened by traders they are following. An excellent risk management addition.
- Calendar – An easy to access summary of all key events for the financial markets around the globe.
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:
- Sharpe ratio
- Age of signal provider
- Amount of trade activity
- Low drawdowns, High profits
- Length of time trades stay open
- The frequency that a trader logs in
ZuluTrade also has a risk score, ranging from 1 to 5, which allows you to choose a Trader that aligns with your risk appetite.
ZuluTrade To MetaTrader
Our experts found it is possible to link an external live or demo MetaTrader 4 (MT4) platform to a ZuluTrade account. So, for those asking does ZuluTrade work with MetaTrader accounts? The answer is yes.
How To Copy A Trader
- Register for a ZuluTrade account
- Sign in using your credentials on the ZuluTrade site or sign up via partnered brokers. Look out for the logo
- Browse the best trader that reflects your risk appetite and investment goals. You can view their past performance and traded assets
- Select the ‘follow’ button. Enter how much you want to invest and your risk appetite
- Select ‘follow’ again. This will begin the copy trade function and the positions of the trader will be duplicated
Spreads & Fees
Fees vary depending on which account you sign up for. A ZuluTrade Account requires a commission fee only, which is variable between brokers. Traders earn a profit on each trade executed by the following investors. Broker commission largely depends on the volume traded by the client. 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.
With the Profit Sharing profile, you pay a $30 per month subscription in addition to broker fees and commissions. The trader earns 20% of the profits generated for his follower’s accounts each month.
The minimum deposit requirement varies between brokers. Some require a minimum deposit of just $1, others may require $250. With that said, clients are advised to keep a balance of at least $100 in their ZuluTrade account to stay connected to the platform.
2023 also saw the social trading platform introduce a new $10 monthly subscription plan. This removes the commission fee model for clients, allowing them to pay a straightforward monthly charge for each strategy they copy.
Other Trading Fees
You may be charged an overnight rollover/swap fee by your broker. The amount will depend on the asset and volume you are trading. Although these costs can cut into profits over a long period, intraday traders shouldn’t usually encounter these fees.
Aside from that, there aren’t any other costs. As ZuluTrade makes clear, the traders you copy are paid directly by ZuluTrade.
It’s also worth noting that if you head over to their website, every now and then you may find deposit bonuses and promotions.
ZuluTrade provides Android and iPhone 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.
Other features include:
- Open, close and edit traded positions
- Diversify risk among multiple assets and strategies
- Manually adjust stops and limits or close positions completely
- Execute your selected trading systems’ signals without having to monitor the markets 24 hours a day
Overall, the ZuluTrade mobile application effectively compliments the desktop-based platform. It is easy to navigate and operates seamlessly between devices. Plus, functionality has continuously improved with each update.
Payment methods for traders include PayPal, bank wire transfers, credit/debit cards and e-wallets.
As an investor, deposit and withdrawal methods will vary depending on the partnered broker. It is also worth checking for any deposit and withdrawal fees applied by the online brokerage.
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:
- Base currency
- Phone number
- Virtual account balance
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, plus access tips and tricks. Look out for partnered brokers that also let you integrate ZuluTrade services within their demo profiles.
Overall, we found the demo account easy-to-use and replicates many of the features you will get, should you choose to upgrade to a live account.
Regulation & License
ZuluTrade is established globally and is regulated in the EU and Japan.
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).
There are several attractive additional features you get with ZuluTrade:
- Pip calculator
- Access to news
- Profit calculator
- Margin calculator
- Economic calendar
- Currency calculators
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, ZuluTrade also offers advice on how to choose from their long list of supported brokers.
When opening a live account, new users will have access to the ZuluTrade Account.
The ZuluTrade Account is suitable for beginners as well as advanced users. You will benefit from manual or fully customized 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 ZuluTrade Account contains numerous benefits including:
- No fees/commissions are charged
- Volume-based compensation scheme
- Availability of copytrading and manual trading
- Individual trades can be closed at any given moment
- Lock Trade function allows investors to fully monitor their positions
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.
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?
- Due to inevitable broker slippage, you may want to avoid scalping strategies
- Upload a professional, friendly default photo. The right photo icon will help build trust
- Trade with a real money account. People will trust your decision-making more if they know you are risking real capital too
- Be clear and concise when you explain your strategy. For example, suggesting how many lots a follower should invest and how you plan to offset any potential pitfalls
- If the website goes down, or people have questions about your strategy on a Mac, your score on the risk meter bar, or anything else, try to respond swiftly. Communication is key to building trust
- Make sure you meet any criteria, whether it’s necessary minimum equity or win ratio. Meeting the EU criteria is particularly important if you want to appeal to the European market
- Also, trading during news announcements can lead to substantially different results between yours and your follower’s accounts. This is because some brokers will widen spreads during news events
When we used ZuluTrade, our experts were pleased with the number of features and tools available:
- Many global affiliate brokers
- Reliable and easy-to-use mobile app
- Access to popular cryptocurrencies
- More than 90,000 traders to follow and copy. This could result in greater traders earnings
- The totally free and fully functioning demo account. This is perfect for beginners looking to get familiar with the markets
- Reviews from forex trading show users are impressed with the wide range of performance indicators and graphs provided to help evaluate traders
- Users of ZuluTrade can also comment directly on traders’ profile pages. This helps to hold traders to account and creates a relatively effective review process
- Some social trading networks only give you access to the last 50 or 100 traders. However, all historical trades are made available at ZuluTrade. This ensures total transparency
- Only view the top traders who comply with stringent criteria, demonstrating consistent and reliable performance. The result is that all traders now aim to adhere to these rules meaning an increased likelihood of a fair investment environment
Despite many of the benefits highlighted in Zulutrade.com reviews, there are also certain downsides and risks to consider:
- Some inconsistent traders to be aware of
- Traders are not formally vetted. The ZuluGuard™ feature does mitigate this risk however, removing Traders and/or withholding fees where appropriate
- Employing an effective money management system can be difficult for beginners. It is also particularly challenging for those not focused on forex, such as gold, CFD, and cryptocurrency (bitcoin) traders
To conclude, you shouldn’t necessarily run to ZuluTrade alternatives because of the downsides listed above. These are problems with most similar sites.
Trading should not be performed outside of ZuluTrade’s market hours. The market opens on 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 available 24 hours a day. This is the most popular method of contact for ZuluTrade users at present. Your partnered broker should also be able to provide basic support such as a breakdown of commissions, step-by-step guides to copy trades and integrating ZuluTrade services to an MT4 demo profile.
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 also available in 20+ languages including English, Spanish and Portuguese.
In fact, their long-term commitment to reliable customer support was recognized with a BrokerNotes triple AAA support rating.
Safety & Security
While using ZuluTrade, our experts found the brand safeguards personal information via industry-standard SSL encryption on its PC and mobile platforms. Funds are also not held, as the service simply provides the platform between the trader and investor.
ZuluGuard™ is often highlighted as a particularly well-liked feature in customer testimonials and review forums. It is an effective account protection feature. It works by monitoring each trader’s behavior 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.
ZuluTrade vs Competitors
What does ZuluTrade offer vs eToro, NinjaTrader and other systems? You can easily view rankings of investor performance. The simulation 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 150+ 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 traded for at least a year.
Many users also like to copy more than one trader. So, you can utilize 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 behavior of one of your trader’s 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.
Overall, the ZuluTrade.com offering is attractive to traders and investors 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.
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.
|Regulated By||HCMC & General Japan Investment Advisers Association|
|Mobile Apps||iOS & Android|
|AI / Machine Learning||No|
|Negative Balance Protection||No|
|Auto Trading||ZuluTrade are market leaders in automated trading. From scripts to auto execution APIs and copy trading.|
|Guaranteed Stop Loss||No|
CFD Trading Details
|FTSE Spread||Broker dependent|
|GBPUSD Spread||Broker dependent|
|Oil Spread||Broker dependent|
|Stocks Spread||Broker dependent|
Forex Trading Details
|GBPUSD Spread||Broker dependent|
|EURUSD Spread||Broker dependent|
|EURGBP Spread||Broker dependent|
Cryptocurrency Trading Details
|Crypto Spread||Broker dependent|
|Crypto Auto Market Maker||No|
Compare ZuluTrade with similar brokers that accept traders from your location. Among available brokers these are the most similar to ZuluTrade:
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.
Go to IG Group
Just2Trade – Just2Trade offer high-tech trading on stocks and options with some of the lowest prices in the industry.
Go to Just2Trade
Forex.com – Forex.com boasts a global reputation with multiple awards and 20+ years experience. Regulated in the US, EU, UK and Canada they offer a huge range of markets, not just forex, and offer competitive fees on a cutting-edge platform. The brand also provides a suite of additional tools, from performance analytics and SMART Signals to advanced charts and strategy builders.
Go to Forex.com
ZuluTrade Comparison Table
|Markets||CFDs, Forex, Stocks, Cryptos, Commodities, Indices||Forex, ETFs, CFDs, indices, shares, commodities, cryptocurrencies, options, futures, spread betting||Stocks, ADRs, ETFs, futures, options, commodities, bonds||Forex, CFDs, Stocks, Indices, Commodities, Cryptos, Futures, Options|
|Minimum Deposit||Varies depending on broker, minimum balance $100||£250||$100||$100|
|Minimum Trade||$1||0.1 lots||0.01||$1|
|Regulators||HCMC & General Japan Investment Advisers Association||FCA, ASIC, MAS, FSCA, JFSA, FMA, CFTC, NFA, BMA, DFSA, FINMA, BaFin||CySEC, NFA, FINRA, Bank of Russia||CySEC, IIROC, NFA, CFTC, FCA, CIMA|
|Bonus||–||–||Up to $2,000 for professional accounts||–|
|Platforms||MT4, MT5, ActTrader||MT4, AutoChartist, TradingCentral||MT4, MT5, TradingCentral||MT4, MT5, TradingView, AutoChartist, TradingCentral|
|Leverage||Broker dependent||1:30||1:5 to 1:20||1:200|
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What Is ZuluTrade?
ZuluTrade is a Greek financial technology company that offers a copy trading platform on desktop and mobile. Investors can copy the trades of over 90,000 traders on forex, commodity, crypto, and stock markets directly through the terminal or through affiliate brokers.
What Is The ZuluTrade Minimum Deposit Requirement?
There is no minimum deposit requirement required to invest on the ZuluTrade platform, though the brand recommends keeping a balance of at least $100. Investors using the services through broker partners must comply with the respective brokerage’s minimum deposit values.
Is ZuluTrade Regulated?
Yes, ZuluTrade is regulated in the EU and Japan. The firm holds a license with Greece’s Hellenic Capital Market Commission and the General Japan Investment Advisers Association.
Can I Use Leverage When Trading With ZuluTrade?
Leverage opportunities vary between ZuluTrade-partnered brokers. Depending on local entity regulations, global brokers may offer margin of up to 1:1000.
Is ZuluTrade Legit?
ZuluTrade is an established social and copy trading platform. With over 15 years in the market, it has been serving clients across the world with a trusted and stable platform. If using the terminal through a broker, ensure they follow client safeguarding protocols such as segregated client funds and access to investor compensation schemes.
|ZuluTrade provides social and copy trading services across forex, indices, stocks, cryptocurrencies, commodities and more. Over 90,000 traders are available to follow.|