Zulutrade Review

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PROS
  • Risk Meter (stop-loss)
CONS
  • Not available to U.S. residents
Zulutrade Info
Zulutrade Details
Price: Free  Signal Type: Social Trader
ITM:  Signal Execution: Auto Copy
  Signal Delivery: Copy trades direct to your linked broker account

About Zulutrade

Price

Free

ITM

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ZuluTrade is a world-leading online and mobile social autotrading platform for binary options, forex and CFDs which works by facilitating the trade signals of the world’s leading traders (signal providers) and automatically executing them on a user’s behalf. Users therefore no longer need to study or monitor the markets, but simply select the signal providers they like. ZuluTrade will then quickly convert their advice into live trades in their trading account directly via the broker.

The main benefit of signing up with ZuluTrade is the ability to follow peer-reviewed traders. This is an ideal way for novice traders to begin investing and as ZuluTrade is open to everyone, becoming a member requires minimal overall trading experience. ZuluTrade has a global reach of half a million users, enabling them to locate successful traders from around the world and follow their trading signals.

Members can not only fully manage their accounts through ZuluTrade’s fully customised account management suite but also feel protected as they are equipped with ZuluGuard, an advanced risk management safeguard which acts as a shield against volatile trading strategies and a margin call-o-meter that specifies the risk level.

Its proprietary ZuluRank algorithm ranks a trader by analysing various factors such as the amount of trading activity, the drawdown of each trade, how often the trader logs in, the age of the signal provider and several other factors. It provides users with an easy way of viewing systems that are good performers while filtering out feasible trading strategies that emphasise on providing solid trading results in order for them to avoid over-exposing their invested capital.

In terms of customer service, ZuluTrade offers its clients both email and telephone support in multiple languages. Their customer support team is prompt and responsive with email replies normally taking less than 24 hours.

Overall, ZuluTrade is an impressive, user-friendly social trading platform and network which is free of charge upon signing up with a broker. Anyone can become a signal provider although traders are advised to acquire some basic money management skills prior to joining up. That said, ZuluTrade has gained a huge following around the world and accumulated many positive customer testimonials which makes them an attractive option for both binary options and forex traders.

ZuluTrade How To Join

Setting up an account with ZuluTrade is straightforward and traders can register in just a few minutes. The easiest way to do this is to first open an account with a broker that uses the ZuluTrade system and then open an account with ZuluTrade. Traders can also link an existing broker account by providing ZuluTrade with the name and account number of the broker they are trading with. They will then automatically be sent their login details so that they can begin autotrading with ZuluTrade, a process which normally takes 3-5 days. The service is free of charge to the end user with ZuluTrade generating revenue by receiving rebates from the brokers who use their system.

It is possible to start trading with as little as $300 depending on which broker the user signs up with. Recommended brokers include Banc De Binary, Pepperstone, OptionTrade and RoboOption. For those who are unfamiliar with social trading, ZuluTrade also provides users with a free demo account that is designed to illustrate the functionality of its unique platform.

ZuluTrade How It Works

Since ZuluTrade has no affiliation with its signal providers, anyone can become a signal provider with them. Users can research and choose from hundreds of providers before deciding which one has the best performance record and percentage of winning trades. Users will also be reassured to learn that the ZuluGuard account protection feature monitors each trader’s behaviour and automatically removes a bad trader when a radical trading strategy is detected.

To get started, a user first needs to select a signal provider to follow. ZuluTrade allows users to assign the amount they want to trade per signal as well as restrict how they can trade in their account. During this process, ZuluTrade publishes the trader’s results and statistics through the website. Each trading action performed in the provider’s account is transmitted to all ZuluTrade accounts by means of a broadcast signal.

ZuluTrade caters for two types of traders at the same time. Professional traders who wish to prove their trading systems and develop a client base will continue to monitor the market and place their trades in the standard manner but it also offers automatic trading for the trader who wants to be able to trade without having to sit at their computer all day. It is also possible to trade manually and should a user decide to place any manual trades, they will not affect automatic trades in any way.

ZuluTrade Results

As it is very easy for users to set up an account and follow signal providers as well as creating their own trades, ZuluTrade has gained a substantial user base. However, the important question is whether a user can make money with ZuluTrade. The answer is yes, with some effort and a basic knowledge of trading. Many user testimonials reveal a highly satisfactory trading experience with excellent returns ranging from 80-100%.

The website also features a “follower performance list” where traders can see which traders other ZuluTrade members follow and how their total portfolio performs. ZuluTrade is totally transparent and shares every single trade a trader executes. Those who are looking for consistently profitable signal providers should be aware that finding them requires some skill and fine tuning, but once they assemble a portfolio of traders they trust and who match their own investment profile and risk/reward strategy, the rewards can be very attractive.

ZuluTrade Scam Watch

ZuluTrade started operations in 2007 and has since become one of the largest global social trading networks. As it is an open platform, this be a disadvantage for those who are looking for a real expert to copy and follow. Anyone can become a signal provider and claim that they are professionals since they are not officially vetted by ZuluTrade. Hence, it’s left to the “social network” to police the signal providers by posting user comments and voting on their performance. The upside is that social interaction is possible on their network, allowing for transparency, and it is for this reason that we don’t believe ZuluTrade to be a scam. ZuluTrade offers good money-making opportunities to traders who put it the time and effort to hone in on consistent and trustworthy signal providers.

ZuluTrade Mobile App Review

Traders who have iOS, Android Windows or Blackberry enabled devices can download the ZuluTrade app which offers full functionality and allows them to view their performance, review new traders to copy, close trades manually and manage their risk settings while out and about and on the go. There is also a widget for Android app and desktop which enables a trader to monitor their account’s equity and profit constantly on the desktop with performance graphs for each signal provider in their portfolio.

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