Table of contents:
- 1 Our experience at a glance
- 1.1 Bonus for new clients
- 1.2 Safety and regulation
- 1.3 Support and customer service
- 1.4 User-friendliness of the website
- 1.5 Conclusion
- 1.6 What is the minimum deposit and withdrawal?
- 1.7 Is ZuluTrade an online Broker?
- 1.8 What are the trading hours?
- 1.9 On which platforms is trading with ZuluTrade possible?
ZuluTrade user ratings: $ 100
- Asset varierity - 10/1010/10
- Trading platform - 10/1010/10
- Support - 10/1010/10
- Fees - 7/107/10
- Deposit/Withdrawal - 10/1010/10
Facts about the company:
- Type: Social trading platform
- Regulation: HCMC Greece, #2/540
- Min. Deposit: $ 100
- Brokers: Supports more than 15 brokers
- Regulated provider
- Social Trading
- Copy successful traders
- Huge variety of traders
- User-friendly platform
- Professional support
- Higher spreads than manual trading
Our experience at a glance
On paper, ZuluTrade offers a lot that investors can imagine in the field of social trading. The question that many investors will ask themselves in this context, however, is how the offers look in practice. First of all, it should be noted that ZuluTrade focuses on a highly speculative segment of social trading, namely forex trading. While other providers can also pursue conservatively oriented strategies with shares or index funds, the focus of the signal providers gathered at ZuluTrade in highly speculative trading is on forex trading and related binary options. The basic principle of this type of trading is that mainly independent of long-term trends, speculation is mainly on small price movements and attempts are made to maximize returns by using leverage.
The use of leverage means that borrowed capital is used in trading. ZuluTrade partly offers leverage ratios of
1: 1,000. The enormous profit opportunities this opens up are offset by considerable risks. Traders in this segment make their investment decisions primarily based on technical chart analysis. Fundamental market data, on the other hand, are hardly ever included. By tying himself to a particular signal generator, the trader takes a risk that is sometimes difficult to calculate, and in an emergency, he will have to pay for it alone. In addition, when selecting a possible signal generator, the focus is primarily on the return achieved in the past. This looks very tempting at first. However, experience in the stock market shows one thing clearly: it is only possible to draw very limited conclusions about future developments from the past. This is especially true in such a speculative segment. Basically, one relies solely on the talent of one or more signal generators. In our view, ZuluTrade therefore hardly seems suitable for investors who are primarily looking for strategic and long-term models for their investments.
|Companies||Triple A Experts SA|
|address||14 Akti Kondyli, Piraeus, 18545, Greece|
|Regulation / license||HCMC Greece, # 2/540 / February 17, 2010|
The situation is different for investors who are basically prepared to take a higher risk in trading. But here too, one should not blindly entrust oneself to the first best top trader just because he or she has achieved a high return in recent weeks. At least a period of six months should be taken into account when assessing the qualities. It is also conceivable to spread the capital that is to be used for trading with ZuluTrade over several signal generators. Furthermore, every investor is advised to always enter this trading segment with only a small portion of the available capital. It is important to note that this capital can be dispensed within an emergency. It should also be clarified in advance to what extent there may be a threat of additional funding obligations in relation to the investor’s own securities account or the signal giver.
In principle, this can occur in the case of highly speculative trading activities. In this case, it should be determined in advance whether an investor is prepared to do so, and at what level there is a corresponding pain threshold. Even though ZuluTrade promises on its website that as an investor you do not have to worry about anything by working together with Zulutrade from now on, it is strongly recommended to take a closer look at the main financial products used. Only in this way a realistic evaluation of the respective risk is possible. Basically, experience has shown that ZuluTrade is a serious provider who does not tolerate fraud or rip-offs among its traders and intervenes quickly if the worst comes to the worst. However, a distinction must be made between this and the risk of a trading strategy, which the trader bears alone. Investors should also know that their signal generators earn money on every transaction, which in principle can also lead to false incentives, in the sense of many transactions. However, the investor has the possibility to limit the number of parallel trades, which is also strongly recommended to limit the risk.
Bonus for new clients
ZuluTrade is a pure platform that specializes in engaging the most successful experts in exchange trading and allowing private traders to benefit from their strategies by connecting these individual signal providers. On the other hand, it is not part of the business model to directly manage the clients’ money. Rather, a connection is established with the current broker through which the trading signals are transmitted. For followers, the corresponding bonuses are therefore only available when a separate custody account is opened, but this is not an issue here.
Bonuses in a broader sense are available for top traders. If a successful signal giver finds a certain number of followers, this also affects his income, as he profits directly from the number of trades triggered by him. He is rewarded for each trade, which in the case of active traders with many followers can add up to considerable additional income. However, the path to this type of bonus is very long.
Safety and regulation
Here, too, the special features of a platform apply initially, which pass on the risk of default to the respective operator. In principle, ZuluTrade as an internationally operating social trading platform is not subject to specific regulations, as is the case with funds, for example. The company mainly relies on its own regulations to avoid rip-offs and fraud. One of the functions offered by ZuluTrade is ZuluGuard, a software feature with which the account can be continuously monitored. Important parameters must first be set accordingly. The main functions include capital protection in the form of a capital limit to be defined individually. In addition, the investor can determine how the system should automatically proceed if a certain loss limit is reached. Especially beginners are strongly advised to use these mechanisms to protect themselves against losses.
In this sense, extensive use should also be made of the demo account offered free of charge, where the potential investor can first test how a real investment will affect the account balance in the long term.
Support and customer service
In terms of support and customer service, ZuluTrade’s offer is very extensive. This is first of all reflected in a hotline available around the clock. In addition, all other communication options, such as email, are also available. Another source of information is the forum, where questions are also asked and answered. In addition, ZuluTrade offers its customers further market-relevant information. This includes a calendar in which important events relevant to the financial market are noted. These include publications of interest rate decisions or the announcement of sales figures of certain industries. In contrast, ZuluTrade does not offer any specific further training in the form of webinars or comparable offerings.
|Telephone:||+30 213 0176 399|
User-friendliness of the website
All in all, investors can expect a professionally designed website at ZuluTrade, where all information is available in a very clearly arranged way. Furthermore, the search function leaves something to be desired in view of the huge number of top traders and, in our experience, is too much focused on the topic of returns. In general, it has to be said that in view of the complex structures and interrelationships in this market segment, the information is somewhat sparse. At the very least, it should not be suitable for an absolute beginner to understand the underlying trading principle and the associated risk. However, this knowledge is fundamental for a follower of ZuluTrade.
Of course, ZuluTrade’s offer also includes the possibility to follow the trading via app mobile and to make and implement the appropriate decisions. The app is offered free of charge and for all common operating systems. In principle, a multitude of functions can be used. ZuluTrade also offers a desktop widget. This allows you to follow the development of your positions as well as the status of available capital and realized profit live.
Anyone who registers with ZuluTrade should know that he is entering an extremely speculative area of stock exchange trading, which has little to do with long-term investment. Nevertheless, massive profits are possible in this segment and, thanks to the principle of social trading, even the simple investor with comparatively small amounts can profit from it. This is all the more important because an activity as an active investor in this area involves a very high expenditure of time, which is hardly compatible with regular professional activity. ZuluTrade’s offer thus fills an important gap in the market. Investors should always be aware of the risk involved, which is why they should only enter this segment with a clearly defined budget.
What is the minimum deposit and withdrawal?
The topic of deposits and withdrawals is not important in relation to ZuluTrade, as it is only a platform that is linked to the securities account. Accordingly, the specific regulations of the respective custodian apply. The minimum deposit for the supported brokers is $ 100.
Is ZuluTrade an online Broker?
ZuluTrade is not an online broker – it is a provider. What is special about ZuluTrade is that ZuluTrade is a social trading provider that enables interaction between different traders.
What are the trading hours?
The trading hours are under UTC time. The market opens on Sundays at 10 pm and closes every Friday at 10 pm.
On which platforms is trading with ZuluTrade possible?
With ZuluTrade, one can trade on four different platforms: ZuluTrade+ (ZTP), ZuluTrading API, MetaTrader 4 (MT4) Platform, and ZuluTrade VPS.