ZuluTrade is a trading network that let other research and trade for you. This process is done automatically and it is called copy-trading.
There are no fees to register an account with ZuluTrade. When you start to copy signals, Zulu will charge 1.5 pip per full lot traded, and from this fee, the signal providers will receive 0.5 pip.
Introduction to ZuluTrade
ZuluTrade is a popular copy-trade network containing many thousands of trade signal providers from all around the world. ZuluTrade is simple and easy to use and all you have to do is to open an account and select some Signal Providers/Traders. Afterward, you can trade these signals in your own brokerage account.
ZuluTrade is actually a framework for automated trading, not a broker itself. ZuluTrade operates as a bridge between traders, signal providers, and brokers. Nevertheless, ZuluTrade is affiliated with AAAFX, an ECN Forex broker that welcomes also traders from the United States. » Visit AAAFX (welcomes US Traders)
ZuluTrade Main Features
These are the main features of ZuluTrade:
ZuluTrade supports 28 different languages and 70 different brokers in overall
It includes thousands of different signal providers and you can choose among hundreds of financial instruments
The available account currencies include USD, EUR, GBP, JPY, and AUD
There are no fees to register an account with ZuluTrade
ZuluTrade charge 1.5 pip per full lot traded, and from this fee, the signal providers receive 0.5 pip
It supports Expert Advisors, API trading, Binary Options
It enables both automatic and manual trading
ZuluTrade is 100% server based and you don't need your computer on to copy any signals
Zulu Platform and Mobile Trading
ZuluTrade offers a purely web-based and easy-to-use platform, and it is easy even for first-time traders. ZuluTrade offers Currencies, Indices, Shares, and Commodities. Recently it added also binary options trading. Zulu provide also apps for all mobile devices including Android, Apple, Windows, Blackberry, and even the Amazon Kindle Fire.
Zulu offers scripts that enable traders to apply their own Expert Advisors (robots) and include also a trading API that connects any programming environment with the Zulu trade system.
Starting with ZuluTrade
If you have already a trading account with one of the brokers that ZuluTrade support then you must do the following steps:
(2) Go to "Open a Live account"
(3) There click on the logo of your broker
If you do not have an account with a broker supported by ZuluTrade, you just need to follow the process of opening a new account with one of the supported brokers.
These are some of the most popular brokers when you select to trade with ZuluTrade:
Other supported brokers by ZuluTrade include: FXCM, SwissQuote, Fidelis, Pepperstone, Aetos, GBE Brokers, TradersTrust, and more.
Controlling your Risk Exposure
The desired rate of leverage is chosen by entering the lot sizes.
Via the 'account settings', Zulu traders can select the ‘max open lots’ from the corresponding drop-down menu. In addition, next to each ZuluTrade provider's username, you can select also the individual number of lots to be traded on each individual trade.
Trade Signal Settings
Enter the maximum number of lots
Set the maximum stop loss and set individual take-profit
Enter the maximum number of open trades
Automatic Mode (on/off) -Let the ZuluTrade system optimize some settings
Select permissible Forex pairs to be traded, and set their corresponding lot size
Limit the trading hours and forbid same-asset trading
Reverse trading signals (trade in the opposite direction than signal providers)
Follow other Succesful Subscribers
ZuluTrade Simulation Run
The Zulutrade simulation-run tool allows traders to get an idea of how their account might perform based on historical data. This is a good tool but it certainly can not guarantee future returns. It’s a useful tool however in order to check if your account's exposure.
ZuluTrade Signal Providers
Zulutrade providers receive a commission of 0.5 pip / full traded lot. That commission is paid only for positive months. When the P&L of a particular month is negative, the signal provider doesn't receive any commission for that entire month.
- Any trader can become a ZuluTrade provider. The profit or loss of any provider is 100% accurate and for every pip gained or lost there is a corresponding trade registered in ZuluTrade's back-office.
- The performance results of any provider include spreads, swap charges and of course the profit/loss from any closed position.
Signal Providers Ranking
The providers are ranked in Performance Zone based on ZuluRank algorithm. This algorithm is complicated and gives extra weight not only to P&L but also to the volume generated.
Choosing Your Providers
ZuluTrade includes several fields with information regarding which providers you should choose. This information contains the description of trading strategy, the provider's statistics, ZuluTrade ranking system, and the feedback.
Historical monthly performance
The Maximum drawdown (the higher, the higher is your risk)
How long the signal provider's system is running (the longer, the better)
The best versus the worst trade
The average pip gain
The average trade time
The maximum open trades (the higher, the higher is your risk)
Tip: You can download the trade history of any ZuluTrade signal provider in Excel (.xls).
ZULUTRADE REVIEW PROS & CONS
(↑) ZULUTRADE REVIEW PROS
These are the main pros of the ZuluTrade Review:
(1) Choose your Own Forex Broker -ZuluTrade is not a broker and allows traders to connect their own account with the platform.
(2) Easy to Use Platform -You don’t need any trading skills or experience to trade with ZuluTrade.
(3) Control 100% your Account Risk -ZuluTrade gives you complete control of your risk exposure via tens of different filters.
(4) Accurate P&L –ZuluTrade provides 100% accurate results, for every pip gained or lost there is a corresponding trade registered in ZuluTrade's back-office.
(5) Follow Other Subscribers -An interesting feature available in ZuluTrade is the ability to follow other successful subscribers. ZuluTrade ranks signal subscribers the way it ranks common signal providers, but they also have a ranking system for the signal subscribers.
(6) Historical Performance Data and Statistics -ZuluTrade offer full performance data and analytics for every different provider.
(7) Reverse Trading Feature -ZuluTrade enable subscribers to make profits from losing traders via the 'Reverse Trading' feature.
(8) Trade without Risk -ZuluTrade offer a free Demo Account, whereby traders can test their skills without risk.
(↓) ZULUTRADE REVIEW CONS
These are the main cons of the ZuluTrade Review:
(1) Many Unsuccessful Signal Providers -There are many signal providers that perform real poorly.
(2) Not all Signal providers Trade their own Money -There are signal providers that trade virtual money from a demo account.
(3) Last but not least con of the ZuluTrade review is its ranking algorithm. As it is explained below the ZuluRank incorporates the 'volume factor algorithm.
ZuluTrade Review Conclusions
ZuluTrade is a good choice for copy-trading. It offers many thousands of signal providers and a great variety of settings in order to personalize your configuration according to your own risk profile.
Key in order to make money with ZuluTrade, is deep research. Most traders subscribe to the top-ranked providers and expect to make a fortune. This is not a good idea. First of all, the ranking algorithm of ZuluTrade incorporates the 'volume factor'. Why? Simply because the system makes its money based on volume! It may sound strange to some traders but guys wake up this is how capitalism works in the first place. Hence, don't trust ZuluTrade ranking, instead, make your own personal research and ensure you have chosen the best available signal providers to do the job for you.
The concept is to find signal providers that generate steady cash on a monthly basis. Historical data can help traders to identify this kind of providers. The chosen providers must also trade and risk their own money (on a real account).
A revolutionary strategy would be to trade based on the 'Reverse Feature'. That means to trade against the worst traders. Another interesting feature of the ZuluTrade platform is the ability to rank subscribers. Zulu traders can follow other subscribers.
Before trading with ZuluTrade for real money you can test your skills on a free demo account using virtual capital. You can open a demo account from here:
Start with ZuluTrade for free: » ZuluTrade Demo & Real Accounts
■ ZuluTrade Review