In this post I will be reviewing the ZuluTrade forex signal online social and copy trading platform. ZuluTrade is a forex signal service that allows any level of forex trader to copy trades of experienced forex traders fully automated. With ZuluTrade, you can view the performance of talented traders from 192 countries and follow their forex trading signals on your own trading account. You can combine the trader’s signals to create your own diversified trading portfolio which can help to optimize your overall trading performance. There is no manual forex trading required with ZuluTrade. You simply choose the traders signals that you want to copy and they do all of the trading. This makes it accessible to both beginner and advanced traders. Current trading volume on ZuluTrade is over 1 trillion according to the official website. This makes it perhaps the largest forex signal copy trading service.
How Does ZuluTrade Work?
Firstly, experienced and vetted forex traders join ZuluTrade and connect their trading account to share with other traders. ZuluTrade ranks these experienced traders based on their returns and risk in a very easy to interpret table which you can sort based on your preferred filters. Other traders (investors) can select who to copy from these experienced traders accounts.
- Signal providers – Traders who share their signals for other traders to copy (followers). The more successful their trading system is, the more they are compensated.
- Followers – These are the traders who can select the signal providers to copy. Followers may also copy signals of other followers’ portfolios (combination of signal providers).
You can choose from the best forex traders and automatically copy signals from their account. ZuluTrade displays all of the trader’s accounts that you can copy along with the statistics such as weeks running, return on investment, pips gained, drawdown, open positions, followers, number of trades, win rate, average win, max open trades, trading history, currency pairs traded and much more. This helps us choose only the best forex traders to copy signals from. Please see a hand-picked selection of the current best forex signals from ZuluTrade here.
ZuluTrade Minimum Deposit
The minimum deposit to use ZuluTrade is very low, some of the 50+ forex brokers that they work with who you can copy signals on your own personal trading account with require a deposit from just $1! You can even start on a demo trading account to begin with free of charge.
ZuluTrade Spreads & Commissions
As with most forex brokers, commissions and spreads are paid as per normal. You can potentially save on trading costs by using ZuluTrades very own forex broker – AAAFx. Although, you are free to copy signals from any of the 50+ brokers ZuluTrade offers. When choosing a forex trader to copy signals from you may want to consider the currency pairs traded as the major currency pairs such as the EURUSD & GBPUSD will tend to have lower spreads than more exotic currency pairs. You may also wish to consider the time of day the forex trader signals occur as spreads can widen pre-Asian session and during news releases.
ZuluTrade can work with any leverage just make sure that you do not over leverage your account which can cause substantial drawdowns and a potential stop out / margin call. Use a leverage that makes you feel comfortable and make sure you understand how leverage works and the potential risks of copy trading.
ZuluTrade Other Costs
There are no extra costs other than commissions, spreads and swaps which you would usually have to pay when trading any forex system on a forex broker trading account. ZuluTrade traders who provide signals to copy are paid directly by ZuluTrade from the commission. Every so often ZuluTrade will run special offers or promotions so make sure that you check the official website for the latest offerings!
ZuluTrade Profit Sharing Accounts
ZuluTrade is always introducing new innovative features. Some of these features include profit sharing accounts where investors trade with discounted commissions and then pay traders from their monthly earnings. It is in the signal providers own interest to make profit as they can attract more followers and thus, earn more commissions.
ZuluTrade Crypto Signals
ZuluTrade also offers Crypto (BTC, ETH, LTC, BCH, XRP) forex trading signals that you can copy to your trading account to further diversify your trading portfolio.
ZuluTrade Personal Assistant
ZuluTrade has a personal assistant which can automatically watch your trading and notify you when something happens or take actions on your behalf. This can be very useful if you are unable to monitor trades all of the time and to ensure your money management is consistent.
They also offer the ZuluGuard feature which can auto protect your account by monitoring each trader’s behaviour and will automatically remove a bad trader / trading system for you when a dangerous strategy is detected. This is especially useful for beginners as they may not be aware of the potential dangers of a specific account that they are copying signals from. ZuluGuard protection can be activated easily at any time from the dashboard / settings page of your ZuluTrade account. ZuluGuard includes capital protection, single trade protection and max open trades protection. This can help ensure that your account does not fall below a certain value and so that you are not over leveraged or risking a margin call or stop out. You can also verify a trade before it is executed should you wish to confirm the entry with your own technical, fundamental or price action analysis.
You simply fund your forex broker account as normal using one of the methods that they provide. These usually include PayPal, Skrill, Bank Transfer, etc.
ZuluTrade Social Trading
ZuluTrade also has a good social trading aspect to it where traders and trade copiers can comment on the market, exchanging views and have discussions with other users as well as ask questions.
ZuluTrade forex signal copy service is also available in Android, iPhone, iPad and desktop widget apps. This makes copy trading on the go a breeze and ensures you can keep up to date with the performance of the traders you are following to add or remove at any time.
ZuluTrade was originally founded in 2007 by Leon Yohai and Kosta Eleftherious. They wanted to build a software that would allow them to copy the forex trading signals of the best forex traders. After just a few years, ZuluTrade had a few thousand experienced traders providing forex signals that users could copy signals from. In 2014 following a complete redesign with many new features and hundreds of employees, they were growing at a great pace. 2015 was a great year for ZuluTrade as they were awarded with an EU Portfolio Management License from the European Union which gave added legitimacy and respect in the trading world. ZuluTrade continues to grow today and is the go-to forex copy trading solution with Licensing and Regulation in EU and Japan. They maintain high security and privacy standards. ZuluTrade works with over 50 forex brokers worldwide so you will not be short of options on which forex broker to use if you are not using one of their recommended brokers already. The ZuluTrade customer service has a rating around 4.7/5 at the time of me writing this ZuluTrade review which is must be said, is very impressive especially in the forex trading industry!
In my opinion, ZuluTrade is the best forex signal service. There are many experienced trades across the world who you can copy trades from. The ZuluTrade website is so easy to use and you are able to quickly identify the best forex signal providers based on your requirements using the filters on the traders table. They offer a demo account for you to test it out and you can even copy trades to your forex demo account to test the waters. You can follow (copy trades) of one or multiple traders in a portfolio. It is super easy to use although there are more advanced features should you wish to use them. You can choose to trade from over 50+ forex brokers with ZuluTrade and it is one of, if not, the biggest forex trade copy service!