In a full broker comparison – social trading comparison, ZuluTrade broker is among the earlier platforms to arrive. Leon Yohai founded the company in 2007 due to the lack of web-based platforms that were able to simultaneously audit traders and let them share their expertise with other interested parties. The first ZuluTrade platform took professional advice and converted it into rapidly executed trades, all via an easy, intuitive platform. In 2017, ZuluTrade partnered with Formax Group, which provides all-around financial services.
- Founded in 2007
- Social and broker services
- Converts professional expertise into trades
- Social Trading platform, Not a broker
- 1. Social Trading Offer: Social Trading with Multiple Assets
- 2. Social Trading Costs: Fees Come from Spreads
- 3. Accounts: A Single Account for Most Traders
- 4. Functions: Proprietary Platform or MetaTrader
- 5. Usability of the Website: Hard-to-Find Information
- 6. Customer Support: Various Contact Methods and Tools Available
- 7. Methods of Payment: Determined by Broker
- 8. Additional Offers: Numerous Trading Tools
- 9. Regulation & Deposit Protection: Offices in Four Countries
- 10. Awards: Praise from Third Parties
- 11. Conclusion: ZuluTrade social trading – review 2018
Trader Rating Total
Greece /Japan (HCMC)
depends on the broker
up to 1:30
Fee collection from broker
MT4, MT5, Broker-owned Software
1) Social Trading Offer: Social Trading with Multiple Assets
Our ZuluTrade social trading – review 2018 points out that this particular platform does not make it easy to view a concise list of the assets available for trading. Instead, the primary focus is on ZuluTrade social trading. Even so, a bit of digging will show you that this social trading broker offers the ability to trade forex as well as cryptocurrency, binary options, stocks, and commodities. Those interested in trading cryptocurrencies will do so via CFDs with the option of BTC, ETH, LTC, BCH, or XRP, all traded with USD. As with other assets, there is the option of AutoTrading, copying CryptoTraders, or making a Profit Sharing account.
In total, ZuluTrade broker offers information for calculating pips, margin, and profits for 50 currency pairs, which include at least one cryptocurrency. Also, ZuluTrade allows for trading of major, minor, and exotic forex pairs; metals; and both German and Japanese shares. Since trading on the platform is done via automated trading or copying other traders, it is a challenge to see exactly how many assets ZuluTrade offers, standing in the way of a broker comparison – social trading comparison. Essentially, ZuluTrade is done via an account with one of the over 50 partnering brokers that the platform works with. Therefore, it offers the ability to trade the assets offered via those platforms.
- Automated or social trading
- Focuses on Forex, but also offers cryptocurrency CFDs and more
- 50 currency pairs, including seven with crypto
2) Social Trading Costs: Fees Come from Spreads
As expected in a broker comparison – social trading comparison, ZuluTrade social trading does not charge separate fees. Instead, it makes a profit via the spreads on offer. To view the spreads and leverage without logging into your account on ZuluTrade broker, you must use the website’s Forex margin calculator. There is no general information about average margins, but for the benchmark EUR/USD, one standard lot is available with a leverage between 1:1 and 1:30. For the same pair with one standard lot, one pip is valued at $10. You can view similar statistics for other trading pairs on the ZuluTrade Forex Pip Calculator, found under “Forex Tools.”
There are also commissions for payments (withdrawals), which vary based on your chosen method. These range from $20 to $45 as a set fee or 3.9 percent. Those with profit sharing accounts will have to pay a monthly performance fee for each chosen trading system. Overall, however, signing up for ZuluTrade is free, and you will not pay any subscription fees. Traders (who others follow), receive 0.5 pips for every traded lot of their own signals as an incentive. Affiliates get 0.4 pips for every traded lots from clients signed through their page, regardless of the signal used.
- Leverage of up to 30:1 for EUR/USD
- Profits made from spreads, not commissions
- Fees with withdrawals vary
3) Accounts: A Single Account for Most Traders
Our Zulu trade social trading – review 2018 points out that the minimum deposit for opening an account with the platform will depend on which brokerage partner you choose to work with, but the smallest minimum is $300. Classic accounts are ideal for advanced users, offering fully customized copy-trading or manual trading and standard commissions based on volume. Profit Sharing accounts are ideal for beginners as they teach you basic trading strategies via copying. There are lower commissions for better trading conditions, and it is a win-win since Traders are penalized for losses and compensated when you make a profit.
In addition to the standard account for those who wish to copy traders or use automated trading, ZuluTrade broker has Trader accounts for those who actually complete the trades. When these traders place trades, all users who chose this client get the same trade placed on their account, based on their Risk Meter. Due to legal regulations for the European Performance Page, Traders should have a maximum drawdown lower than 30 percent of the total profit, a minimum trading time of 12 weeks, and a profit per trade of at least 3 pips. When opening an account, you can select a base currency of USD, JPY, EUR, AUD, or GBP.
- Minimum deposit of $300, but varies based on broker
- ZuluTrade account requires an account with a partnering broker
- Base currencies of USD, JPY, EUR, AUD, or GBP
4) Functions: Proprietary Platform or MetaTrader
With ZuluTrade social trading platform and services, you have a choice of several different platforms. The ZuluTrade+ platform, ZTP, includes a full Trading Station user interface filled with technical indicators and charts. This platform allows for the creation of trading robots. There is a long list of technical charts and indicators, plus customization. This platform is web based. This can also be used with ZuluTrading API that lets Traders submit trading requests via a custom program.
Those who prefer one of the most popular platforms in a broker comparison – social trading comparison also have the choice of using MetaTrader 4 with ZuluTrade. This feature is for Traders, not average users, and will automatically copy trading activity from the MT4 account to the ZuluTrade account. There is also a free ZuluTrade VPS service that does not require downloading any platforms.
Users interested in mobile trading with the ZuluTrade broker will have a few options available. You could use the mobile versions of MetaTrader 4, which are available for both Android and iOS devices, or you can download the Android or iOS ZuluTrade mobile platform.
- Proprietary web-based platform
- MetaTrader 4 compatibility
- Mobile platform for Android or iOS devices
5) Usability of the Website: Hard-to-Find Information
In a broker comparison – social trading comparison, ZuluTrade will not win any accolades for its website and ease of finding information. Whether you are looking for information on the specific currency pairs offered or the type of assets available for trade, you will have a hard time finding it. This most likely lies in the fact that ZuluTrade works with over 50 different forex brokers, adding social trading features to your existing account. As such, it cannot concisely display all the information. At the same time, our ZuluTrade social trading – review 2018 feels that the website would be dramatically improved by at least including a list of the type of assets available for trade or including a statement that specific assets can vary by broker used. As it stands, the lack of information can confuse potential traders.
As a strong point in favor of the ZuluTrade social trading website, all the information regarding risks is found at the bottom of every page. It also has an easy-to-use navigation bar at the top of the page with each tab repeated with its sub-tabs and links at the bottom of every page. This does improve navigation somewhat, making it easy to find various features, the terms of service, risk disclaimer, and more. The categories in the main navigation bar are “Traders,” “Blog,” “Cryptos,” “Features,” and “Contact.”
- Information is presented in an organized manner
- Hard to find certain information, such as trading pairs
- Risk information and support easy to find
6) Customer Support: Various Contact Methods and Tools Available
In addition to a dedicated customer support section, ZuluTrade broker provides enough information in various spots on the websites to prevent the need to contact customer support in many situations. The FAQ section is certainly smaller and less detailed than those found in other broker comparison – social trading comparison brokers, but it answers the most important questions. To make up for this, ZuluTrade offers a range of easy-to-find guides, such as the Trader Guide, Affiliates Program Guide, User Guide, and a Trading Guides page. The User Guide is particularly detailed and should answer all questions related to using the platform.
In terms of actually contacting support, our ZuluTrade social trading – review 2018 is overwhelmingly positive. The customer support team is available 24/5, and you can contact it in English, French, German, Italian, Portuguese, Spanish, Arabic, Russian, Chinese, Greek, or Japanese. There is both online and email support in all languages. When you visit the Contact Us page, ZuluTrade automatically detects your location and displays your phone support number in a larger font. Below this, it lists phone support numbers for major cities around the world. There is also a forum for finding additional help.
- Customer service in 11 languages
- Support via phone, email, or live chat
- Detailed User Guide
7) Methods of Payment: Determined by Broker
Because ZuluTrade social trading is not a traditional broker, it does not have a set range of payment methods. Instead, those who use ZuluTrade will link their account to an existing brokerage account with one of the over 50 partners. This means that the funding methods will depend on the broker you choose to use. As such, there are options available for nearly every payment method, provided you are willing to consider multiple brokers to find what you want.
Official Traders with followers will earn a profit via ZuluTrade. In this case, there is the choice of receiving commissions via PayPal, wire transfers, or the ZuluTrade Mastercard. Each method has its own fees, including $30 for wire transfers within the U.S. and $45 for those outside. Payments to ZuluTrade Mastercards have a $20 fee, and PayPal requests under $500 have a $20 fee with requests higher than this bearing a 3.9 percent fee. Those with a Live Trading account can also schedule AutoPay to automatically complete the withdrawal of commissions the first business day of every month.
- Payment methods determined by partnering brokers
- Traders can withdraw commissions via bank transfers, PayPal, or ZuluTrade Mastercard
- Automatic payment available for Live Traders
8) Additional Offers: Numerous Trading Tools
To find some of the most useful trading tools from ZuluTrade broker, go to the Features tab on the website. There, you will find a range of charts as well as innovative features specific to ZuluTrade social trading, such as UserLists. These lists make it possible to organize Traders into groups and make tags based on performance, plus the ability to share the lists. The TradeWall shows you the most recent trading activity. ZuluTrade Automator is ideal for automated trading, where you create your own automated rules.
There are also traditional tools worth mentioning in a ZuluTrade social trading – review 2018, such as the Forex calendar. You can filter results by currencies affected, the degree of impact, and date. The most important upcoming events are always at the top. ZuluTrade also has a range of calculators, including for pips, margin, profit, and a currency converter. Although educational resources are limited, there is a Demo account available and a Forex Profit Simulator. The Trading Guides page also offers numerous educational videos. The ZuluTrade blog does also include a few educational pieces. There are also trading signals available via Traders, and the very nature of ZuluTrade social trading lets beginners learn strategies from experts.
- Social trading features, like UserLists and TradeWall
- ZuluTrade Automator lets traders set rules
- Various calculators and an economic calendar
9) Regulation & Deposit Protection: Offices in Four Countries
ZuluTrade has major offices in four countries around the world, including in Wilmington, Delaware, United States; London, United Kingdom; Piraeus, Greece; and Tokyo, Japan. For EU residents, Triple A Experts SA operates ZuluTrade. This company is EU regulated with license number 2/540/17.2.2010. To follow European regulations, EU residents can only copy Traders with a trading history of at least 12 weeks, average pips per trade over 3, and a maximum DD of under 30 percent. ZuluTrade is also regulated and licensed in Japan. When using ZuluTrade, keep in mind that each partnering broker you consider using will have its own regulatory status.
A nice feature in terms of protection for our ZuluTrade social trading – review 2018 is ZuluGuard Capital Protection. This feature monitors the behavior of each and every Trader, then automatically removes bad Traders if it detects a radical trading strategy. This feature is controllable via the Settings page of all accounts. It monitors capital protection, max open trades protection, and single trade protection. Further protection comes from the fact that ZuluTrade broker uses HTTPS for additional encryption.
- Regulated in Europe and Japan
- Four offices in major countries
- ZuluGuard provides additional protection
10) Awards: Praise from Third Parties
Although ZuluTrade does not list any awards from a broker comparison – social trading comparison on its website, the platform has received praise from multiple third parties. Dow Jones Newswire called ZuluTrade a “life preserver” for those who want to trade forex but lack the knowledge to do so, particularly retail investors. The Wall Street Journal also delivered praise for ZuluTrade and other similar platforms for offering the ability for “little guys” to get into “high-speed FX trading.”
Overall, most consider ZuluTrade broker to be one of the top for social trading, with the platform consistently earning strong ratings. Additionally many other brokers feature the Zulutrade product on their own websites, so traders can use it even if they don’t trade directly with Zulutrade. Various ZuluTrade social trading – review 2018 articles tend to point out the platform’s strong features, such as the ability to work with a long list of brokers, support in multiple languages, and compliance with changing European regulations. Traders and reviewers alike tend to praise the platform for its user-friendliness, particularly for beginners to the world of forex trading.
- No awards listed on website
- Praise from Wall Street Journal and Dow Jones Newswire
- Typically earns high ratings
Conclusion: ZuluTrade social trading – review 2018
Those in search of a broker comparison – social trading comparison will find ZuluTrade social trading to be an excellent option. While the website makes it challenging to find information on currency pairs and some other details, there is a vast range of assets available via partnering brokers. Using ZuluTrade broker requires an account with one of the partners, but as there are over 50 partnerships, every potential trader should be able to find an option. There are a reasonable number of resources available for beginners between the Trading Guides and other tools, while experienced traders will appreciate the various charts and graphs built into the platform. Experienced users can become Traders to enhance their profits, while those with less experience can still invest in forex by copying those top Traders. As such, our ZuluTrade social trading – review 2018 feels that this is a good choice for those of all experience levels interested in social trading. Since there is a Demo account available, you can open an account and try ZuluTrade without any risk.
- Partners with over 50 brokers
- Authorization and regulation in Japan and EU
- Ability to copy traders
- Website in 24 languages
- Customer support 24/5 in 11 languages
- Hard to find information currency pairs
- Can be challenging to pick traders to follow
- Can be challenging to pick traders to follow