Since its founding in 2007, ZuluTrade has become the preferred choice of traders because of its unique automated trading features. ZuluTrade is not a broker but a platform which allows you to copy other successful traders. If you’re new to Forex, is this platform worth a try given other options available?
Accounts Available
Only one account is available and the minimum deposit is $300 but is dependent on broker. After opening an account you’ll be able to access all the features and tools necessary to trade. Deposits and withdrawals are done via credit cards and other online payment options. There is also a Demo account which allows you to practice copy trading prior to depositing real money.
Platform
The ZuluTrade platform does an excellent job of connecting traders with the professional experts and advisers on ZuluTrade. Because of the way it’s been designed, you’ll get insights into the minds of the world’s top traders.
One of the most practical features of ZuluTrade is it allows you to copy trades with ease. Using its platform you can trade without hassle, and these will be directly sent to the recipient parties. For all its features, ZuluTrade still does a good job of providing an open environment where you can exchange information with other traders.
The ZuluTrade platform gives you a lot of options when it comes to trading. Apart from the forex, you can also trade commodities, indices, binary options and stocks. Each of these financial instruments come complete with their own set of tools. And what is even better is the platform is available in Windows, Kindle Fire, blackberry, Android and the iOS.
You can also avail of its Full Pack Complete Trading Platform that comes with several features that make trading easier. Aside from being simple to use, the platform includes auto trading, charting, Zulu scripts and more.
ZuluTrade Features
ZuluTrade has special features that make it stand out from the typical trading system. Its ZuluRank algorithm rates traders according to several factors such as sharp ratio, how long your trade remains open, signal provider age, your trading activity and other options.
There are also an assortment of trade tools, notifications, trend indicators and so on. The range of tools and charts are comparable to other high end forex brokers. However, ZuluTrade provides detailed explanations for how each of these tools work.
One of the top features on ZuluTrade is the Automator. With this you’ll be able to perform trades anywhere, anytime. As the name suggests, this feature will automate the procedure so your desired actions are executed correctly. Rather than have to do everything manually, the Automator makes things easier.
ZuluGuard is a special feature that safeguards your account. What it does is remove a trader if a bad strategy is used. Once detected, the system automatically removes the trader. If you want, you can set this to manual mode. Just go to the Settings option on your computer and the system will take care of it.
The way the ZuluTrade has been made ensures new and professional traders are both served. If you’re a hands on trader, ZuluTrade offers a host of tools to guide you. You are also given the resources necessary to manually monitor your trades and enhance your client base.
At the same time, ZuluTrade also provides automatic trading for new traders or those who prefer a more hands off approach. By automating a lot of the settings, you can relax and sleep, knowing your trades will be executed the way you want it.
The tools and features on ZuluTrade do not end there. It also has a currency calculator and tools for calculating profits, margins, pips and other forex tools. All of these are essential tools for the trader, and they are provided here for your convenience.
ZuluTrade comes with several features designed to make trades easier. One of its most important functions is serving as an auto trading platform so you’ll be able to copy the trades of other users. With the ZuluTrade platform this is easy to do.
Another interesting features on ZuluTrade is it allows you to leave feedback and comments, and you can also view the views from other traders. This gives ZuluTrade a social network feel, something that isn’t present in other forex brokers.
Performance
ZuluTrade is a powerful platform, but the way it works isn’t hard to figure out. A signal provider utilizes the ZuluTrade trading station to generate a trade. Another option is to use MetaTrader 4. All signal providers are individual users of ZuluTrade, with both live and demo accounts considered.
Every action you do in your ZuluTrade account is recorded and transmitted. All your actions are analyzed and the stats are presented in a manner that is easy to understand. If a signal provider recommends trades that become profitable, then that trader will be placed in the portfolio of other users.
For each trade that is done in a live account, ZuluTrade will pay the user/signal provider half a pip. The exact value will vary depending on how the currency fluctuates. Usually though, the weighted average is $4 for every trade per standard lot. ZuluTrade lets you choose from thousands of traders from over 190 countries.
Customer Support
ZuluTrade has multilingual chat support 24/7. This alone makes a huge difference because other services are only available 5 days a week. Furthermore, ZuluTrade comes with phone and email support. The phone support is available in 10 countries and there is also a 24 hour hotline.
The website contains a lot of useful information about how ZuluTrade works. The site itself is available in 25 languages. In spite of the many features, the website is easy to follow and readily accessible.
Pros
- Copy trading is easy and safe
- Compatible with various brokers
- Bitcoin and Binary Options available on platform
- Fully automated trading
- Lots of trading tools
- Excellent platform
Cons
- Only one account available
- Not available to US Traders
Verdict
ZuluTrade is an informative and well made forex service. It has a lot of features yes, but it is easy to use and intuitive even for beginners. For both beginners and advanced traders, ZuluTrade offers a host of impressive features that make it stand out from other forex services.
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