ZuluTrade Review and Rating 2023

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ZuluTrade  is the most well-known Social Wealth Management Platform and was established around 2007 with the help of Leon Yohai and Kosta Eleftheriou, and created as a response to the lack of a platform on the internet that could monitor traders across the globe and , at the same time allow traders to communicate their expertise to investors interested in their methods.

The platform is present in more than 150 countries and has offices in multiple locations around the world. With more than 2 million users and over 90,000 traders, ZuluTrade is undoubtedly a leader in social wealth management. In 2021, the platform became part of the Finvasia Group.

The ZuluTrade Platform bridged the gap between important information about market transactions and trade execution, by the knowledge of some of the most experienced and skilled traders around the world, to a system that is able to quickly execute trades. A further benefit of ZuluTrade is that it offers the possibility and convenience of sending selected trades directly to the broker accounts of people who are interested. ZuluTrade's concept is to create an open and accessible environment where traders from all over the world are able to connect with any platform for trading and impart their expertise. ZuluTrade's mission is to become the largest social trading platform in the world, offering automated trading solutions that are geared towards customers. solutions. We are going to give you a complete ZuluTrade review.

ZuluTrade is a social trading platform that allows investors to follow traders and imitate their strategies. You can open an account with ZuluTrade for free. In this Zulutrade review, we are going to explore all about the platform. We will try to be unbiased in our opinion. If you are from ZuluTrade, and think the writer did injustice to your platform, please contact AtoZ Markets editorial team with valid proofs.

How ZuluTrade Works

ZuluTrade Trade Platform was created as an online platform that could examine Traders across the globe and communicate their strategies to Investors who are interested in their strategies and, consequently, allowing Traders to directly connect their trades to the accounts of Real Brokers of interested Investors.

ZuluTrade's idea is to provide an environment that is open, where traders are able to connect to any platform for sharing trades and receive a percentage of commissions each time their trades are copied. Traders have the freedom to create their strategies by using the trading strategy
style they prefer. Once the strategy is imported to ZuluTrade system the platform, it becomes part of ZuluTrade ecosystem. ZuluTrade validates all trades that have been imported and mark them on the performance graph so investors know the imported time frame. Then the trader continues its trading activity that now is monitored from ZuluTrade.

In milliseconds ZuluTrade transmits the trades using secure connections to the Brokerage Firms

The trades are made via the Real Broker account of the investor.

ZuluTrade Review: Types of Accounts

Zulutrade offers My Investor Account, My Trader Account and Affiliate Account.

My Investor Account

The Broker you choose to work with will determine the minimum deposit required to activate an Investor live Account on Zulutrade. Your broker investment account should have a balance of at least $100 to keep it connected to ZuluTrade. Registration is completely free.

• ZuluTrade Account

ZuluTrade offers this account at no cost. Brokers use volume-based compensation models. They might also have an increased spread or additional commissions depending on the brokers. Investors do not pay additional fees for following traders. ZuluTrade compensates the trader.

The benefits of the ZuluTrade account include:

1. Available for copy trading and manual trading
2. Close individual trades at any given moment
3. Volume-based Compensation Scheme
4. Lock Trade function to take full control of a trade
5. Do not charge any fees/commission

Required Documents

You will need to provide basic documents if you want to open a broker account through ZuluTrade.

For address proof, brokers will usually ask for a government issued photo ID or passport, along with a copy of a recent bank statement or utility bill. However, it is best to confirm all required documents directly with the Broker you choose to open an account.

The Broker may require you to sign a Letter of Direction (LOD) or Power of Attorney (POA) in order to allow ZuluTrade broadcast reference trades from your Broker account. You will find these documents for each of our collaborating brokers while you're completing the Registration Process.

My Trader Account

ZuluTrade's "Trader" refers to a ZuluTrade user who trades on either a Demo account or a live account. ZuluTrade then broadcasts the results and statistics via its website.

Every trading action in the Trader's account is broadcasted to all ZuluTrade Demo or Real Investor Accounts who have chosen to receive these signals.

ZuluTrade trading platform is open to all, but it's tough to become a trader. ZuluTrade's ZuluRank algorithm constantly rank traders' performance so that only the most successful traders appear at the top of our lists. Opening ZuluTrade account is easy and quick.

These are the steps:

1. Create an account - Select a Real or Demo account and fill out the registration form with your name, address, email and phone number.

2. Email verification – Verify your email address.

3. Select a broker: Given the list of supported brokers, you can either pick an existing broker account or open a new one. It could take up to 3 business days for the broker to validate your documents and
receive the funds if you wish to open a new broker account. (Some brokers like Fxview and AAAFx have faster onboarding that usually takes 1 business day or less). To create a new broker account, you will be redirected to the broker website.

4. Connect to the broker - On the broker website, enter your contact details and click on the account verification option. This includes a Proof of Identity (Passport is recommended), a proof of Address (Utility bill or bank statement is recommended) and usually a suitability test for EU residents, due to compliance requirements. Afterwards, you will be able to fund your account with your preferred method.

5. Begin Trading - Once your broker account is funded and activated you will receive your ZuluTrade credentials on your email. Then log in and start searching for traders that you want to copy, select the trader, study their trading history, select how much you'd like to invest and start copy trading.

Note: If you encounter any problems with the broker or ZuluTrade, don't hesitate to contact your brokers support chat or the support chat at ZuluTrade.

Countries Not Accepted By ZuluTrade

• Burma (Myanmar)
• Cuba
• Iran
• North Korea
• Sudan
• Syria
• USA
• UK

ZuluTrade Offered Products

The social trading platform partners with brokers that provide the following asset types.

1. Forex Trading
2. Stock Trading
3. Crypto Trading
4. Commodities Trading
5. Indices Trading

Affiliate Account

ZuluTrade Platform offers affiliate accounts. Any individual or organization can take part in the ZuluTrade Affiliates Program. You have to register for the account and have to choose an unique URL which you have to use to promote or advertise.

Affiliates receive a commission for their service for accounts that signed up through the Affiliate’s website (URL).

Awards

ZuluTrade has won the following awards :

• ‘Best Social Trading Solution’ at the 2022 UF Awards

• ‘Best Social Wealth Management Platform’ at the 2022 Forex Expo Dubai

• ‘Best Social Trading Solution’ in the MEA region at Ultimate Fintech Awards 2023

Zulutrade Review: Features

ZuluTrade offers a variety of options which make it an appealing choice for traders. It includes:

Lock Trade - This allows you to confirm the trading process when the signal is received.

Automator- You can set rules to lock profit, update Stop/Limit for selected trades, close profitable trades or notify you of any significant changes on the markets. For instance, if the profits and losses from the trader X exceeds $1500 Then you should lock your current profits. This will reduce risks and also free up your time.

Social Fees- It includes comment sections and forums. Here, you can read about traders, provide suggestions and answer questions.

ZuluScript- This allows users to write scripts that create the parameters used by trading bots. They are also called experts advisors (EA). This allows you to automate trades that allows you to perform many more trades than you have ever before.

ZuluGuard- It is a unique feature of this trading platform that shields CopyTraders in the event that erratic trades are made by the traders they follow. An excellent risk management addition.

Calendar - A simple way to find overview of the most important events that affect the financial markets across the world.

Knowledge Crunch

ZuluTrade's blog includes a section called ‘Knowledge Crunch’ that tries to inform investors about various asset classes. In order to give readers a better understanding of cryptocurrencies and blockchain technology, there are a number of posts related to this topic. In addition, there are numerous articles on stocks, commodities, trading tactics, and tips for beginners.

Trade Wall

ZuluTrade's Trade Wall allows investors to get an idea of the market sentiment by viewing the live trades that traders are opening. Additionally, there is a filter option on the top right of the page so that investors can only select the features they would like to receive updates for on the Trade Wall.

Choosing The Best Traders For Copying

Don't trade or not follow traders that have had just a wonderful week or even a great month trading history. Your capital is at risk if you do so. Perhaps you're tempted by the ROI may be impressive. ROI is impressive but it's not sustainable. Don't make decisions based solely on their ROI. Take a look at the trading history of the trader, and be sure they've made money and have been doing it regularly for a long period of time. And have a good trading strategy. Here are additional tips to choose a good trader.

• Choose a trader who has the most successful and proven record, with a minimum of more than twelve months. Many may seem best traders. But all seemingly best traders are not successful for long term in foreign exchange market.

• Choose a trader that has an historical drawdown that is low, typically less than 20 percent.

• You should look for traders who boast the highest average pips for trade gains. Otherwise, you'll lose more than you gain from slippage.

• Find out if the trading signals providers take trades manually or using automated trading. I would prefer manual traders as EA may not be sustainable for the long term.

• Find a trader who employs a short-term approach and who monitors stop levels carefully and only opens a small number of trades, all that reduces drawdown.

• Find out if the signal service is trading live, thus employing real cash, or are using Demo mode.

• Find a broker who has the most precise explanation of their strategy, and their trades that actually align with the plan.

• Find a trader who is agile and receptive who can adjust or even stop their EA as the market demands.
• Find few professional traders, then compare them and choose.

Zulutrade Review: The Pros and The Cons

• Pros

√ The platform is regulated in Europe, and Japan.

√ Suitable for Novice investors

√ Do not charge any fees/commission

√ Oldest Social Trading Platform

√ 50+ online brokers to choose from.

√ More than 90k traders from different countries for investors to choose from

• Cons

— Need some research to find a good trader to follow.

— Traders with long term success records are not many.

— Anyone can be a trader, which increases the risk for investors.

— Lot of Inconsistent traders.

Is Zulutrade Regulated?

In 2015, ZuluTrade obtained the EU Portfolio Management license. The platform is therefore regulated. Additionally, ZuluTrade is also regulated by the General Japan Investment Advisers Association (2014 – No. 1058 Member Associations) in Japan.

So what does this mean for you as a trader? It means that you can trade on Zulutrade knowing that it is regulated. This gives you peace of mind when trading on the platform and ensures that your funds are safe. If you have any questions or concerns about customer protection on Zulutrade, please contact their customer support team for assistance.

Is ZuluTrade A Scam?

No, ZuluTrade is not a scam. You  don't need to worry about ZuluTrade. The platform is properly regulated in Europe and Japan, they have got really good help and support. Your funds are with the broker you choose. So it's important that you choose the right broker. ZuluTrade supports a lot of brokers. There are many complaints but it's because they have chosen the wrong traders to follow. For copy trading, it's important to select the right trader by doing proper research on their track records.

Customer Support

Their customer support is available 24/5. In our Zulutrade review we  discovered that they have live chat options in different languages. They have email support. The email address is support@zulutrade.com. Call Support is available at  +30 2130176499

Conclusion

To conclude our ZuluTrade review, we can say, you're able to find someone that is successful and follow their moves or you could be the one providing trading signals for trading for people to use. This setup makes it possible for anyone, with any level of experience, to trade without having to worry about being on top of the market at all times. All you need is some starting capital, an internet connection and a bit of patience while your account grows. I highly recommend giving Zulutrade a try if you are looking for ways to make extra income or want to start trading. But don't just jump into it. Find a good trader to follow. Otherwise eventually you would lose all your money. ZuluTrade is one of the best social trading platforms. Let's know your experience with ZuluTrade in comment section below.