Organic search of ZuluTrade reviews will reveal a rather polarizing opinion about the company. Preliminary findings that lead to the more positive view of the firm allude mostly to the performance of its customer support team, low ongoing fees, and its easy-to-use mobile applications. On the other hand, the downside of its services include the risking of capital when copying trades in a demo account simulation, the challenge of having to enlist the assistance of the solutions provider, and the considerable amount of monitoring needed to come up with an effective set of traders.
While accumulating mixed client reactions and experiences from the trading industry might prove commonplace for entities such as ZuluTrade, fact of the matter is, those that the review team had gathered about ZuluTrade seem to be too dwindling to ignore. As this stands, the team had taken it upon itself to go back to basics by actually looking into the provider’s offers and services to come up with a pointed assessment of its overall capabilities.
This review is a result of months spent with the ZuluTrade. The review team had performed an exhaustive examination of the solutions provider’s offers and services. The specific fields that it would delve into include:
- The Regulatory Body that sanctions all of ZuluTrade’s activities
- The trading instruments that ZuluTrade gives access to
- The trading accounts that ZuluTrade offers
- The trading platforms available to its clients
- The fees that it charges for all its services
- A ZuluTrade standout feature
Through the close examination of these, an informed, holistic evaluation of ZuluTrade’s capabilities would be provided to the readers of this review.
First things first, ZuluTrade is not a broker. It falls under category of trading solutions provider, to be specific, an online and social trading platform. What the company does is give traders access to the trades of seasoned traders so as to copy them. ZuluTrade allows this so that its clients may be able to reach a level of automated trading. The company’s social element also permits clients to share feedback and partake in the sharing of trading ideas.
Established back in 2007, ZuluTrade was founded by one Leon Yohai and Kosta Eleftheriou. The duo had one thing in mind, and that is to allow traders to copy the trades made by industry experts. Come 2009, the company had already reached over 4,500 experts who were considered Signal Providers (to be elaborated upon later). These individuals gave access to their trading portfolios so that they could copy them to make profitable trading endeavours.
The question of regulation is answered through ZuluTrade’s acquisition of a Triple-A Experts SA license from the Hellenic Capital Market Commission (HCMC), a financial authority in Greece. The presence of such strongly suggests that ZuluTrade is a legitimate solutions provider which traders can completely rely on. As a testament to it being a legally-operating entity, the company had been awarded an EU Portfolio Management License from the European Union itself in 2015. This had solidified ZuluTrade’s place in the solutions trading provider industry, hence heightening its trust rating.
Offers and Services
Available ZuluTrade Accounts
ZuluTrade has two available live trading accounts:
- Profit Sharing
Novice traders would benefit largely from this type of account. Traders profit when the clients profit. They will also be sanctioned when the user loses. On top of this, clients will also benefit from reduced commissions.
The Classic Account is meant for the more experienced and seasoned traders. It is beneficial to them in that this type of account allows its users to manually set and customize copy-trading. In addition users are let in on standard volume-based commissions.
Both of these accounts allow its clients access to charts, data, alerts, and Forex signals. Account maintenance for both types is straightforward.
Accessible Trading Instruments
The ZuluTrade trading platform gives its clients access to a number of markets, namely, Binary Options, Forex, Commodities, Indices, and Stocks.
The user base is divided into 2 categories that delineate how the ZuluTrade platform works:
- Signal Providers
Signal providers pertain to the trading experts within the ZuluTrade’s trading pool. The fees that they charge for the trading strategies that ZuluTrade clients copy are dependent on how these would prove successful.
These refer to the ZuluTrade users that copy the strategies. A Follower may also copy the investment portfolio provided by the Signal Providers.
The ZuluTrade Trading Platform
ZuluTrade’s proprietary platform provides its clients a rather impressive selection of features.
A 2016 additions, the Automator function send email notifications that automatically lodges the necessary action when an event takes place. This of course is reliant on the rules that the user chooses to add. This feature aids ZuluTrade users to minimise risk and create time.
The Lock Trade feature permits its users to verify trade execution upon receipt of the signal.
The Margin Call-o-Meter is responsible for calculating the time when a user might run out of money in the instance of a margin call. The meter tells how much of the user’s capital is being risked.
The ZuluScript allows its users to develop scripts that set the parameters for trading bots. Also called Expert Advisor (EA), ZuluScript allows for trade automation, thus giving the user the capability to execute more trades in one go.
Apart from these notable features, ZuluTrade is being lauded by the trading community for being able to offer the following calculators:
- Currency calculator
- Margin calculator
- Pip calculator
- Profit calculator
On top of these, ZuluTrade also provides an Economic calendar and streams up-to-date financial news.
ZuluGuard: A Standout Feature
One of ZuluTrade’s most noteworthy offerings is ZuluGuard.
It had proven to be one of the features that users like most about ZuluTrade. An account protection feature, ZuluGuard monitors the behaviour of each trader and immediately removes a user that is detected to employ a draconian strategy. In effect, this efficiently shield traders from any shady individuals.
ZuluGuard could be set manually at the Advanced Mode setting through a user’s account.
Apart from what the review team thinks to be a competitive minimum initial deposit of only $1, ZuluTrade charges Overnight Rollover/Swap Fees.
The amount for such depends on the currency pair being traded. And while the team had observed that these costs may easily cut into a user’s profit, Intraday traders are absolved from paying these fees.
This is the only additional charge that ZuluTrade has its traders. It should be noted that the Signal Providers are directly compensated by ZuluTrade as a part of the commission.
Trade with ZuluTrade Today!
With all the features that had been discussed in this review, it is easy to ignore the negative reviews and the downside that some ZuluTrade users had experienced. For what it’s worth, given its legitimacy, trust rating, and of course its many profitable offers, ZuluTrade is one trading solutions provider that should be on the top of the list of anyone thinking about delving into Copy Trading.