- Is ZuluTrade trustworthy?
- ZuluTrade Copy Trading Service Review
- ZuluTrade Copy Trading Platform Review
- Is ZuluTrade safe to invest with?
Is ZuluTrade trustworthy?
Have you searched for “ZuluTrade review and opinions” to understand the real value of ZuluTrade?
Before starting, do you want to understand if ZuluTrade is reliable or if ZuluTrade is a scam?
Do you want to find out everything that can be done with ZuluTrade (for that there is also our ZuluTrade Guide), professional opinions and those of users?
In this ZuluTrade review, you will find everything you need to remove any doubts, including our opinions on ZuluTrade, both technical and practical, after years of direct use.
The best thing you can do is open a free demo account to be able to touch the ZuluTrade platform first hand and follow our ZuluTrade review in the best way.
Is ZuluTrade a trustworthy service?
Let’s start from the beginning.
There are many scams in the Forex sector perpetrated by self-styled companies and / or investment brokers.
ZuluTrade is not one of them.
ZuluTrade is a regulated company with various licenses, founded in 2007 and therefore present on the market for many years, with hundreds of employees spread over different locations in various countries of the world and with numerous close partnerships with several other important players in the financial markets.
Furthermore, the ZuluTrade group was recently acquired by a large Chinese company, the Formax group.
1. Where does my money go when I open an account with ZuluTrade?
ZuluTrade provides a cross-broker platform.
ZuluTrade acts as a bridge between brokers, specifically your broker and the broker of the Signal Providers you intend to copy.
Hence, ZuluTrade itself is not a broker.
In order to trade with ZuluTrade you will need to open a trading account with one of the recognized partner brokers.
Your funds will then be held by that broker of your choice.
2. What is the Best Broker for ZuluTrade?
The best broker to trade with ZuluTrade is AAAFX, a Greek brokerage firm, regulated in Europe, registered under the Hellenic Capital Market Commission (HCMC), and MiFID compliant.
AAAFX is owned by the ZuluTrade Group itself.
For this reason in general the whole copy trading experience using ZuluTrade paired with AAAFX is slightly better.
3. Is ZuluTrade regulated? Is AAAFX regulated?
As explained above, ZuluTrade is not a broker but a cross-broker platform.
The owner of ZuluTrade’s patents and licenses is Dayo Innovative Trading Ltd, which operates under the trade name of AAAFX.
AAAFX (or with the full name “Triple A Experts SA”) is a brokerage company of Greek origin, duly registered with the HCMC (Hellenic Capital Market Commission) with registration number 2/540 / 17-2-2010, and MiFID compliant.
AAAFX is an NND broker, Non Dealing Desk, operating on Forex and CFDs.
5. How does ZuluTrade make money?
ZuluTrade makes money very simply.
The profit of ZuluTrade comes from the spread paid by Signal Providers and followers who replicate the operations of other Signal Providers.
With that spread ZuluTrade pays itself and the Signal Provider that generated the copied signal.
This is why the spreads with ZuluTrade are slightly higher than the industry average.
ZuluTrade Copy Trading Service Review
Founded in 2007 by Leon Yohai and Kostas Eleftheriou (the latter left the company in 2008), ZuluTrade is a financial services company that operates as an interconnection platform between various brokers.
After years of growth and innovation, ZuluTrade and all its patents and licenses have been acquired by a large group company, the Formax Group, with the aim of further increasing the expansion of the brand.
Below you can find the description and review of all the features and functionalities of ZuluTrade, including our opinions on ZuluTrade.
1. What can you do with ZuluTrade?
With ZuluTrade you can:
- Trade on the markets independently through CFDs on cryptocurrencies, currencies, indices, raw materials, through ZuluTrade’s Social Charts;
- Let ZuluTrade automatically and proportionally replicate orders on your account all the operations performed by the traders of your choice (Copy Trading);
- Do both manual trading copy trading, participating in sharing information on trading and investments with the whole community in order to make the best choices (Social Trading);
- Set up advanced protection tools (ZuluGuard) or automatic portfolio management rules (ZuluTrade Automator)
- Trading on the most popular Cryptocurrency pairs
- Create and use Trading Scripts and EAs directly from the platform, without the need for external software, ZuluScript.
Like any company that deals with Social Trading, ZuluTrade connects all those investors who are looking for new ways of obtaining returns from their capital by exploiting the performance of other professional traders, called Signal Providers.
ZuluTrade attracts, on the one hand, all those investors who want to obtain the same returns as a professional trader and, on the other, the traders themselves.
Since its first steps, ZuluTrade has always shown that it has an edge over many of its competitors, and over the years its service has evolved to reach various points of excellence.
2. Is ZuluTrade simple and easy to use?
The whole platform has modern and attractive graphics, the functions are simple and practical, accessibility is very high, in less than a minute you can open a free demo account, either by entering your data or by using your Facebook account.
The amount of registered Signal Providers is enormous, and we are talking about more than 30,000 traders.
We will see later how ZuluTrade manages to manage this high number in an excellent way.
Registration is quick and easy and, for a first level of exploration, you just need to open a demo account, which allows the investor to test the exact same features guaranteed to real users.
In this way, even for the most inexperienced and less experienced in trading and Social Trading, it becomes easy to become familiar with future investment tools, by making tests without risk thanks to the security provided by the demo account.
3. What types of accounts does ZuluTrade offer?
ZuluTrade offers two types of accounts, Classic or Profit Sharing.
The two account types differ in how Signal Providers are rewarded.
The choice of the type of account is obviously up to the follower, and based on his choice the Signal Provider will be rewarded in a specific way.
ZuluTrade Classic Account
The ZuluTrade Classic account is the basic account mode present from the very beginning.
The compensation model is based on the volumes of operations replicated by the follower.
The trader earns 0.5 pips for each trade replicated by the follower.
If a follower replicates a EURUSD trade of 1 lot, the trader earns $5 (0.5 pips).
In this model, the follower does not pay performance fees to the trader at the end of the month.
On the other hand, the spread paid by the follower for each transaction is slightly higher.
ZuluTrade Profit Sharing Account
This new model aims to improve the relationship between trader and follower, empower the trader by making safe and secure trading more convenient ans dhift the trader’s focus even more on earning more followers.
With ZuluTrade’s Profit Sharing model, the trader earns 20% of the profits he has generated on the follower’s account every month.
Viewed from the other side, each month the follower pays the trader 20% of the profits he was able to make thanks to that trader.
The Follower gets a discount on the spread paid in each replicated transaction.
With this model, ZuluTrade reports a drop in commissions from around 2 pips to 1.5 per trade.
4. What products does ZuluTrade offer?
ZuluTrade’s main market is certainly the Forex currency market.
With ZuluTrade, it is possible to trade on different currency pairs.
In addition, some of the major equity indices and some commodities are available.
ZuluTrade has also introduced some of the major cryptocurrencies.
5. Does ZuluTrade offer Bitcoin and other Cryptocurrencies?
ZuluTrade has introduced the possibility of trading or copy-trading via CFDs on the major cryptocurrencies.
Here are the main cryptocurrencies available for trading, on which it is possible to invest through counter-value on USD:
- Bitcoin (BTC/USD)
- Ethereum (ETH/USD)
- Ripple (XRP/USD)
- Bitcoin Cash (BCH/USD)
- Litecoin (LTC/USD)
ZuluTrade Copy Trading Platform Review
The ZuluTrade’s copy trading platform is very complex, with numerous features available.
Let’s see features and possibilities together.
1. Social Trading and Copy Trading
Despite being renowned as one of the most important realities of the great Social Trading market, its attention has always focused mainly on Copy Trading.
In fact, the social aspect within ZuluTrade is not very evolved comparing to other services, for example eToro has given more prominence to the social aspect, providing real and their own sharing platforms, like the most famous social networks.
As regards the social aspect, the activity of sharing opinions and exchanging with the Signal Providers is mainly focused on the aspect of the judgment or comment of the followers about the goodness or reliability of the trading strategy of the Signal Provider.
On ZuluTrade’s copy trading platform, it is precisely possible to comment and assign judgments of merit, which are then transformed into stars and percentages of approval.
The comments left by the followers can be read and appreciated with a like, but the interaction lacks a real question and answer between the followers and the Signal Provider, who limits himself to posting scant information inside a box located in top of its page with which it keeps users updated on the status of its operation.
Furthermore, over time it can be seen that most of the comments or votes are nothing more than negative reviews left by users who most likely expected to get 100% earnings and get rich overnight.
This is why ZuluTrade has focused its policy on the transparent and in-depth sharing of statistical and operational data of the Signal Provider’s strategy, in order to allow followers to build their opinion on certain data and not on the opinions of others.
2. ZuluTrade Social Charts
However, to improve social interaction within its platform, ZuluTrade has introduced Social Charts.
Within this section, the user can upload one or more graphs on which the evolution of the operations made by the Signal Providers, together with any comments.
In addition, on the right shoulder of the graph, the chronological evolution and continuously updated of the closings of the operations by the Signal Providers is shown with comments, in this case, however, without any distinction by currency pair.
Certainly seeing at what price level the positions were closed or what price level sparked a debate can be interesting, but we are not really sure how constructive or formative it can be from a trading point of view.
Is ZuluTrade safe to invest with?
In December 2014, ZuluTrade announced one of its biggest updates.
Following the change in the MiFID regulation for Social Trading in Europe, ZuluTrade was forced to change the functioning of the platform for all European clients, and this also included the introduction of a series of restrictive parameters within which Signal Providers had to pass to be shown to European customers too.
These security parameters had the ability to limit the riskiest Signal Providers, and to push Signal Providers from all over the world to improve their performance, especially in terms of security and solidity, to be sure to re-enter the European market and not lose ZuluTrade’s followers.
In summary, we can say that ZuluTrade remains one of the platforms with the highest number of Signal Providers registered, even if, as a percentage of the total, few are really deserving, several are average, many are unprofessional, and that the company continues to work with new rules and restrictions to improve the quality of registered traders and therefore the protection of their investors.