ZuluTrade is an online trading platform especially noted for its social trading. On ZuluTrade, it is very easy to follow other traders and copy their actions into your own portfolio. You can also opt-in and allow other traders to follow you, if you fulfil certain requirements.
At the time of writing, it is possible to follow roughly 10,000 traders from 190+ countries at ZuluTrade. You can use the search and filter system to locate traders that fit your specifications, e.g. only traders that are risking their own money, only traders with less than 21% drawdown, only traders that have been active here for 1+ year, and so on. If you want to, you can add a trader to your UserList and monitor them for a while before you decide if they are a suitable trader for you to follow.
What you don´t have to worry about is finding traders to follow that have exactly the same budget as you do. When you have found a trader you wish to follow, you can assign a specific amount to trade per copied signal, instead of trading the same amount as the other trader. So even if Trader A is opening a position for $100,000 you can open a much smaller position. You can also use the percentage setting, and safeguard by also adding a Max Open Position value for each trader you follow.
The social trading at ZuluTrade involves more than just automated copy trading. You can for instance leave feedback and share ideas with other traders. The forums and comment sections can be used to ask for help, offer advice and review signal providers (traders that can be followed).
At the time of writing, ZuluTrade has around 1 million users. You can use ZuluTrade to gain exposure to forex, stocks, cryptocurrencies, commodities, and indices.
Back in the noughties, Leon Yohai wanted to create a software that would make it easier for him to automatically copy the actions of very good traders. In 2007, he founded ZuluTrade together with Kosta Eleftheriou. By 2009, traders at ZuluTrade had access to over 4,500 signal providers which could be used for copy-trading and automated trading.
In the mid-2010s, ZuluTrade made a major revamp of their site and added plenty of new features, including the ZuluGuard. They also entered into a partnership with SpotOption to develop a social trading platform for binary options. In 2015, this platform received a EU Portfolio Management License from the European Union.
ZuluTrade works with several different brokers, so you can have your pick.
To get started with ZuluTrade, you don´t have to make any huge first deposit, but the exact requirement will vary depending on which broker you select so be aware. Some only require a 1 USD first deposit, while others mandate $250, €300, or even more.
The brokers charge commissions, and there are also spreads to take into consideration.
ZuluTrade´s own broker is named AAAFx and head-quartered in Greece. One of the advantages with AAAFx is that they offer zero-pip spreads on certain trades.
You can open a free Demo Account and use it to try out ZuluTrade without making any deposit.
ZuluTrade has released mobile apps for iOS and Android.
The so called “signal providers” at ZuluTrade are typically normal traders who allow other traders to follow them and copy their moves. They get compensated, according to a compensation scheme that is based on the success of their actions.
If you follow and copy a signal provider at ZuluTrade, you don´t pay them any special fee for this. Instead, the trader is paid directly by ZuluTrade, as part of the commission.
The Automator was launched in 2016. The Automator can be used to automate your trading, based on rules set by you in advance.
With the Zulu Script feature, you can create scripts for trading robots (“expert advisors”).
Zulu Guard can help reduce social trading risk, as it provides a certain degree of protection if erratic trades are opened by a trader you follow.
When you open a real-money account with ZuluTrade, you get to choose between two options: Classic or Profit Sharing.
Profit Sharing is recommended for beginners, as you get to learn by copying other traders. It is called profit sharing as those you follow get compensated when you profit. Commissions are reduced for the Profit Sharing account.
The Classic account is optimized for copy-trading that is either manual or customized. Standard volume-based commissions apply.