ZuluTrade Review – Online Platforms, Commission, Leverage, Account Types, Features & more
Ideally, ZuluTrade is an online trading network that helps in connecting a plethora of traders globally.
As the online trading industry is saturated with online trading brokerages, it is highly challenging to find a perfect platform for you.
No doubt, there are hundreds of options available, but not all are right for your needs. Thus, it is highly essential to use your due intelligence in finding the best trading brokers available.
The trading platform covered under this review is ZuluTrade that allows traders in the forex and financial markets to bag the goal of automated trading.
Currently, the trading platform boasts of having millions of users and executes a trading volume of at least $800 billion.
About ZuluTrade and Accepted Countries
The company was incorporated back in 2007 by Leon Yohai and Kosta Eleftheriou.
One of the founders that is Leon Yohai, wished to develop software that allowed him to imitate the expert trader’s trades.
The platform had over 4,500 ‘expert’ traders by 2009, and using their portfolios; users could make money.
In 2014, ZuluTrade re-designed its website and updated some features, including ZuluGuard, and had 120 employees.
In the same year that is in 2014, the company also announced to become a partner with SpotOption, to develop a social trading platform for binary options.
2015 was claimed to be one of the most fruitful years as the platform was bagged an EU Portfolio Management License from the European Union.
Thanks to the award that the company became one of the trusted and respected traders across the trading niche.
|Founder / CEO||Leon Yohai|
Traders from Australia, Thailand, Canada, United States, United Kingdom, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, and almost all other countries are allowed to trade on this platform.
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ZuluTrade Trading platform:
ZuluTrade claims to own a proprietary web-based trading platform. The platform is known as the “Full Pack Complete Trading Platform.”
The platform is said to feature a lot of advanced features, including a complete charting package, advanced auto trading capabilities, Zulu scripts that allow traders to use the trading bots, and Zulu trading API.
These features are not only highly advanced but also well respected by the most sophisticated traders in the industry.
The best part is that the platform is accommodating for beginners too. Additionally, the user interface is well designed and very user-friendly.
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||English, German, French, Italian, Spanish, Portuguese, Russian, Arabic, Chinese, Japanese, And Greek|
ZuluTrade Mobile App
The platform is entirely compatible with all mobile devices from Apple, Android, Windows, to Blackberry.
Additionally, it also features full functionality with an interface that is tweaked slightly but provides a seamless experience on mobile.
By using mobile apps, traders can easily control and manage their portfolios anytime. Under the mobile app, users can see their performance, review new traders to copy. They can close trades manually.
Furthermore, ZuluTrade applications and mobile sites are compliant effectively with the desktop-based platform. Above all, it has improved with all the updates.
Check out Mobile Apps of more Forex Brokers
ZuluTrade Commission or Brokerage or Fees
The brokers tend to charge a commission per trade besides the average spread for linking your account to ZuluTrade.
If it is ZuluTrade’s own broker, the spread tends to as low as zero. Additionally, the spread is most likely to vary from trader to trader.
The currency pair and time also affect the spreads. During periods of high volatility, brokers tend to widen the spread.
|Commission on trades||Yes|
ZuluTrade Exposure or Leverage
Almost everyone is aware of the fact that leverage can be used to enhance the potential earnings of the traders.
But one thing you should know before you download an account is that leverage trading can increase losses and lead to some rare calls.
Ideally, it is higher than the average, like 1:500, and lower than the used margin. But one thing you need to know for sure is that it means an enhancement in the free margin and margin level.
Hence, it can result in overtrading, and with a massive drawdown, the account might face the stop-out level.
Thus, it is recommended to use the leverage of 1:500 to avoid such risks.
|Maximum Leverage||Up to 1:500|
ZuluTrade Payment Methods
The money funding and withdrawal payments are most likely to be based on the trader, but it includes some of the things like:
- Bank wire transfer
- ZuluTrade Mastercard
Deposit Options Credit Card, Debit Card, Paypal, Skrill, Neteller, ZuluTrade Mastercard Withdrawal Options Credit Card, Debit Card, Paypal, Skrill, Neteller, ZuluTrade Mastercard
Find out Payment Methods provided by other Forex Brokers
ZuluTrade Virtual Trading or Demo Account
Zulu Trade is most likely to feature a fully live and free demo account, allowing traders to practice trading on the platform with virtual money.
Above all, the traders can get the same experience as they would get on with the real account.
The newcomers on the trading account are offered $100,000 of virtual money to trade so that they can gain some confidence with regards to the trading services provided so that they can plan their trade before investing in real money.
Some of the essential information you need to enter under the demo account is:
- Base currency
- Demo account balance
- Phone number
Additionally, the demo account is relatively easy to use.
ZuluTrade Regulation and Licensing
Currently, the trading platform is regulated. Being a copy trading solution for brokers in the EU, the trading platform has been licensed by a Triple-A Experts SA license from Greece’s Hellenic Capital Market Commission (HCMC).
But you need to know that it doesn’t mean you are most likely to get substantial millionaire payouts without any risks.
All it means that the platform fully complies with the EU framework for auto trading service providers. Above all, the clients don’t need to stress about things.
Find out Regulations & Licensing of more Forex Brokers
Locker trade– It allows the traders to analyze trade execution provided you have received the signal.
Social network features– it includes forums and comments sections. Under this, traders can review signal providers, offer advice, and ask questions.
Margin call o meter– It analyzes the probability your account will run out of money, and thanks to this feature, you can research how much of your capital you are risking actually.
ZuluScript– It allows you to develop scripts that tend to form the trading bots parameter.
ZuluGuard– It gives protection to Copy Traders if erratic trades are done by traders in the market.
Calendar– Traders can easily access a brief of all key events with regards to the global financial markets.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
ZuluTrade Account types
Under the account types, the traders are given two very distinct account types, which tend to vary mainly in the services they offer.
The options tend to be simple. Some of the accounts are:
Classic – The account is mainly meant for advanced users as it is a signal provider account. It means that all the trades will be broadcasted for the entire ZuluTrade community to see, follow, and copy.
From this account, traders can earn profit from both volume-based commissions plus manual or personalized copy-trading.
Profit-Sharing– The account is mainly for beginners as they don’t have to make any trades on their own but learn and copy from other traders.
|Account Type||Classic Account|
|Spread||From 0 Pip|
|Commission||$3 per $100,000|
|Leverage||up to 30;1|
ZuluTrade Accounting Opening Process
It is quite simple and easy to open an account on the ZuluTrade platform as you need only some necessary information, including name, email, phone number, location, base currency, and a minimum deposit of $300.
But the process is a little complicated if you choose to open a Classic Account to become a signal provider.
Under this account, you have traded on ZuluTrade for at least 12 weeks, maintain a maximum drawdown of less than 30% and trade with an average of 3 pips or more per transaction.
ZuluTrade Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||No Dealing Desk|
|Maximum Leverage||Up to 1:500|
|Suitable for beginners||Yes|
|Suitable for professionals||No|
|Suitable for scalping||Yes|
|Suitable for daily trading||No|
|Suitable for Weekly trading||No|
|Suitable for swing trading||No|
ZuluTrade – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team :
|Daily Market Commentary||No|
|News (Top-Tier Sources)||No|
|Company Stock Review||No|
|Free Stock Tips||No|
- The demo account is totally free, so it is highly recommended for new entrants looking forward to understanding the market.
- A plethora of traders follow and copy, and it could lead to a significant number of signal earnings.
- The traders have to pay relatively low on-going fees, and there is no charge for no entry costs, and minimum deposits start are only a few hundred dollars.
- Users can also use Cryptocurrencies.
- Traders are most likely to benefit from mobile apps as they are not only reliable but also easy to use.
ZuluTrade Cons or Drawbacks
- There are a lot of inconsistent traders.
- Signal traders don’t use their capital. They might risk your money copying the trades of an expert trader using simulated money accessed from the virtual account.
- It can be challenging for beginners to employ a money management system that is effective.
- A lot of time and effort is required to monitor and select a compelling mix of trades.
ZuluTrade Trading Hours
Traders are not allowed to trade beyond the market hours of ZuluTrade. The market opens for ZuluTradeon Sunday at 22:00 UTC and shuts by Friday 22:00 UTC.
Additionally, the market will open on Sunday at 21:00 UTC and close Friday at 21:00 UTC during Eastern time daylight saving.
ZuluTrade Customer Care and Contact details
You can head over to the ZuluTrade homepage if you are facing any problems including technical or account issues.
On the homepage, you can see the live chat is available 24*7, and it is one of the most popular methods used for contacting the platform.
Besides the live chat, users can even find email and phone support to 10 countries, add on to it is the 24-hour hotline.
Users tend to use the website if they want to submit feedback through an online form or they can also select ‘contact us.’
|Support During Weekends||No|
|Live Chat Support||Yes|
|Customer Support Languages||English, German, French, Italian, Spanish, Portuguese, Russian, Arabic, Chinese, Japanese, and Greek|
ZuluTrade Safety and Security
One of the most used features with regard to safety and security is ZuluGuard. Additionally, it is one of the best account protection features as it monitors the individual behavior of each trader.
It helps in keeping the user’s income safe from the erratic strategy.
ZuluTrade Rating & Review
Based on the user experience, the following rating and reviews are provided.
|User Experience||7.0 / 10|
|Products & Services||7.6 / 10|
|Brokerage Charges & Fees||7.1 / 10|
|Research & Advisory||7.2 / 10|
|Trading Platforms||7.1 / 10|
|Overall Ratings||7.2/ 10|
|Total Client Reviews||73|
ZuluTrade Verdict or Conclusion
Lastly, ZuluTrade is a fantastic platform for traders who wish to undertake social trading or copy trading.
Above all, the platform is perfect for traders of all experience levels. Even though it is a user-friendly platform, but you can avail the best service if you choose the company’s own brokerage platform.
Above all, it is not easy to stay profitable all the time as you need to be aware that incomes can flee from the account as quickly as it tends to appear.
Thus, ZuluTrade is one of the most reputable online trading platforms offering services, including social trading or copy trading.
You can indeed consider ZuluTrade if the social and copy trading aspect of trading is something you are looking for.
The demo account surely helps you a lot, so don’t stress.
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