Saxobank drops social trading platform “Zulutrade”

Saxo bank,Saxo Capital marketsSaxo capital markets,the Cyprus unit of SaxoBank,one of the largest brokerage firms averaging about $247B in volume,has dropped Zulutrade platform off its list of compatible trading platforms.

Zulutrade is an online retail Forex platform, specialized in providing social and copy trade facilities is registered as an introducing broker with commodities and futures trading commission. Many brokers have been dropping Zulutrade as many speculated Zulutrade is setting up their own Greece based brokerage firm.

Saxo capital markets, Cyprus, was the only branch out of all  Saxo bank’s 25 business units globally that offered the Zulutrade platform. Saxo’s social trading will now be streamlined to which is their  in house proprietary  social trading platform as well as Leverate’s Sirix social trading community.

No justification has been given for ceasing operations on the Zulutrade platform.

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