Contributor, Benzinga
February 27, 2023
ZuluTrade
Overall Rating:
securely through ZuluTrade's website

ZuluTrade is a social – wealth management platform enabling investors to copy the positions of professional traders. It has partnered with numerous brokers to assist forex, stocks, crypto, commodities and indices investors become more profitable. This network has made trading social by enabling traders to swap strategies and learn from each other.

Best For
  • Traders desiring compensation for sharing trades
  • Affiliates seeking commissions for promoting the brand
  • Brokers wanting to offer ZuluTrade benefits to their clients via direct integration
  • Investors wanting to open the same positions as professional traders
Pros
  • First and the oldest CopyTrading Platform with over 2,000,000 investors globally
  • Regulated within the EU, Mauritius and Japan
  • More than 90k traders from different countries for investors to choose from
  • Platform and Broker neutral service, ready to serve wealth management needs
  • Provides protection via risk management tools to minimize risk
Cons
  • Not available to U.S. residents

ZuluTrade Ratings at a Glance

Customer Service Rating
Security
Minimum Investment and Pricing
Mobile App
User Experience
Overall Rating

ZuluTrade Product Offering

ZuluTrade offers a platform that connects investors and traders, enabling them to swap strategies, learn from each other and copy trades. This social network is ideal for investors wanting to enter the same trades as professional traders hoping to achieve similar trading results.

Investors need to create account with ZuluTrade’s broker partners or link their existing client trade account to benefit from the platform’s offering. ZuluTrade’s copy and social trading services are available to cryptocurrency trades, forex, stocks, commodities and indices traders.

Advanced traders who prefer manual trading can customize their ZuluTrade settings or combine advanced tools in their trading.

The ZuluGuard feature protects investors from depleting their trader account. It enables investors to allocate a capital protection amount, which is the maximum amount an investor is prepared to risk on a specific trader. When the threshold is reached, ZuluGuard closes the trade positions and disables the trader so that the investor doesn’t lose more money than the predetermined amount. This service is mandatory for European traders.

The Social Feed feature allows traders to interact with each other and share their thoughts. Users can use the Social Feed to post updates on their trading activity, share trading ideas, and discuss market trends. The Social Feed also gives you the option of searching for trending hashtags. When a user includes a hashtag in their post, it becomes clickable, and other users can click on the hashtag to see all posts that have used the same hashtag.

ZuluTrade offers various video tutorials to help traders understand how the platform works. Some of the tutorials provided are how to follow a trader, browse a trader’s profile, create a real and demo account, as well as using advanced search techniques.

Traders can also optimize their technical analysis by using ZuluTrade’s calculators, calendar, charts and live prices.Also available are fundamental tools such as market news and a blog containing information about various aspects of the market.

Customer Service Rating

Benzinga contacted ZuluTrade to determine its customer service, and an agent responded within a minute on the live chat. The agent was knowledgeable in various inquiries and determined to solve any issues that needed clarification.

Email is another way to contact customer support, which is available 24/5 and in the following languages: English, Russian, German, Chinese, Spanish, French, Italian, Arabic, Czech, Danish, Greek, Finish, Hebrew, Hungarian, Japanese, Bahasa (Malaysian), Dutch, Norwegian, Portuguese, Slovenian, Swedish, Thai and Vietnamese.

Call support is also available. ZuluTrade’s help center provides numerous guides about the most common issues from users trading experience.

This platform has various social media accounts such as Facebook, Twitter, Instagram, LinkedIn, TikTok and Reddit. A YouTube channel is also available.

Security

ZuluTrade collects a user’s private information when applying for a demo or real account. It will require users to submit documents to verify their identity. 

To protect the documents and information submitted by users, ZuluTrade uses a Secure Socket Layer (SSL) encryption technology. It prevents anyone from intercepting a user’s information during transmission, other than ZuluTrade. 

Other security measures that ZuluTrade has implemented include a firewall and an authentication system such as passwords and personal identification numbers. Also enabled are access control mechanisms to control unauthorized access to data.

ZuluTrade may share a user’s data with its affiliates for business purposes, but it doesn’t disclose information to third parties not described within its policy.

Minimum Investment and Pricing

The fee is entirely dependent on the brokers. Each broker sets their own fees for using the ZuluTrade platform, and these fees can vary widely. Some brokers may charge a commission on each trade, while others may charge a spread, which is the difference between the bid and ask price of a currency pair. It's important for users to carefully research and compare the trading fees and features of different brokers before choosing one to use with ZuluTrade. By doing so, they can ensure that they are getting the best possible value for their investment and can minimize the impact of fees on their trading profits.

However, users need to contact a preapproved broker to determine their fees. Deposit and withdrawal fees depend on the broker’s pricing policy and so do the minimum withdrawals.

Users shouldn’t incur commission or inactivity fees. The spreads a user pays depend on the selected broker.

Traders who sign up with ZuluTrade to provide their services are compensated by ZuluTrade.

Although the barriers to entry are low, ZuluTrade doesn’t provide its services to U.S. residents yet.  

Mobile App

ZuluTrade’s app in the Google Play Store has more than 100,000 downloads and a rating of just under four stars from more than 2,000 reviews.

The app contains all the key features found on the desktop version, designed conveniently for mobile use. The app is also available on iOS.

User Experience

ZuluTrade’s copy trading platform feature enables investors of all skill levels to follow professionals and open the same positions as them. The alternative is for the user to set personal parameters and also use ZuluTrade’s technical and fundamental data to trade manually.

Besides investors copying trades, this platform is ideal for traders wanting to be compensated for sharing trades, affiliates seeking to earn commissions for promoting the brand on each successful signup and brokers wanting to provide to their customers access to ZuluTrade.

Most of the common information users need about the platform is available on the site. Otherwise, ZuluTrade has provided 24/5 support via email, live chat and telephone in numerous languages. Users wanting to receive prompt feedback should consider using the live chat.

Investors wanting to connect with professional traders, learn from them and swap ideas will find the platform to be beneficial. 

Users wanting quick access to information about the platform can use the vast selection of guides and videos. 

One of the drawbacks of ZuluTrade is that it doesn’t offer its services to U.S. residents yet. 

Overall Rating

ZuluTrade provides a platform that connects investors of all skill levels with professional traders to achieve profitability. Its support offers prompt feedback in various languages, and the platform enables engagement among traders.

On-the-go investors can use ZuluTrade’s app to access all the key features available on the desktop, designed for convenient mobile use.

ZuluTrade vs. Competitors

ZuluTrade has several competitors that offer copy trading. But what makes ZuluTrade different is that ZuluTrade is a broker neutral platform, giving users a wide range of options to choose from when selecting a broker to trade with.

Also, Zulutrade is the most transparent social trading platform that provides detailed statistics on the performance of each trader on the platform, including historical trades, win rates, drawdowns, and other performance metrics. This information is available to all users, enabling them to make informed decisions when selecting traders to follow.

Frequently Asked Questions

Q

Is ZuluTrade available in the U.S.?

A

ZuluTrade is not available in the U.S. market yet.

Q

How does ZuluTrade make money?

A

ZuluTrade makes money from the brokers that their clients select to open an account with. Everytime a client opens an account through ZuluTrade with a broker to benefit from copytrade, the broker pays ZuluTrade a FIXED amount, called Cost per Acquisition, or CPA. Additionally for existing brokers accounts that are connected to ZuluTrade, a technology subscription is collected from the investor or the broker, this depends if the broker wants to cover the cost of their clients or not. There are no markups on the spread or other hidden costs.

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