ZuluTrade Review – Reviewing ZuluTrade Copy Trader

ZuluTrade is one of the known community/social and copy trading platforms that connects experienced and novice traders. It focuses on providing opportunities in Forex and Cryptocurrencies as well as creating an environment where traders can share opinions and leave feedback.

This ZuluTrade review will break down how the platform works, the signing process, and the overall customer experience.

ZuluTrade Overview

ZuluTrade is established in 2007 by Leon Yohai and Kosta Eleftheriou. Their idea was to build software that will allow them to copy the trades of the top-ranking traders. The first version of ZuluTrade was launched in 2009, and the company quickly gained popularity in the investing world. Today, ZuluTrade works alongside 64 brokerages around the globe.

How ZuluTrade Works

Our first impression of this ZuluTrade review is a simple yet comprehensive interface. A tab-bar with falling menus can lead you to every part of the platform within a click or two. The most exciting tabs are Traders and Features. The first one, as the name suggests, presents all traders using the platform.

They are divided into three categories – Top Trader, Combos and All Traders. Compared to other platforms where usually, there are more criteria for grouping targets such as markets, most recently active etc. ZuluTrade bet on simplification, and this is not necessarily a bad thing.

Features-tab includes a mashup of all platforms’ features, from trading tools like calculators to the blog section and the automated copy trading opportunity offered by ZuluTrade. In a way, that makes finding any section easier, as there is only one place to search.

What we found missing at ZuluTrade’s website is more precise information on which markets they provide trading for. After some significant scroll between the traders, we have found out the ZuluTrade currently provides trading for forex, stocks, crypto, selected commodities and indices.

The user base of ZuluTrade is divided into Signal Providers or Expert Traders and Followers. Interestingly, as a Follower, you can also copy the portfolios of other followers like you.

ZuluTrade Review Features

ZuluTrade’s features section has a “visitor” and a “member” mode. Naturally, the member mode provides additional features unlisted in the guest mode. Among these features, the most interesting are the Automator and the ZuluGuard.
The Automator was presented in 2016, and it enables you to automate some of your actions.

It will watch the trading activities and notify you when things happen or automatically execute any action you would otherwise do yourself. The purpose of the Automator is to save you time and help you minimise the risk.

ZuluGuard is an in-house risk-management development that aims to protect novice traders by alerting them if irregular trades open by the traders they’re following. Still, according to clients’ opinions relying on ZuluGuard only will not prevent you from capital loss.

Starting with ZuluTrade Review

ZuluTrade offers you to create a profile by registering directly at their website or using your Facebook or Google Account. If you want to register as a trader, the process is more complicated as ZuluTrade follow a strict due diligence system. Once you create your profile, you are linked with a list of brokers to open your account with.

There are two options – Classic Account and Profit Sharing Account. Remember that according to the selected type of account and the brokers you have chosen, there might be different fees. Similarly, the minimum deposit level depends on the broker you have chosen, and it could vary between 10 USD and 300 USD (or other currency).

Based on the fact that opening the broker account could take up to two weeks, depending on the broker’s conditions, we recommend you do thorough research on which broker to work with.

ZuluTrade Customer Experience Review

Overall, ZuluTrade aims to cover all aspects of the novice traders’ experience without over-complicating it for them. The platform is easy to navigate with straightforward menus and tab. However, according to some clients’ testimonials, copy-trading with ZuluTrade fail to answer their expectations due to the lack of “many consistently profitable traders”.

Pros

► Simple and easy to navigate feed

► Mobile apps available

► Straightforward sign-in process

Cons

► Not many long-term signal providers (3+ years)

► Hard to find the markets segments