8 Factors To Keep In Mind When Check Any ZuluTrade Review

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Contents

ZuluTrade – Easy Step-by-Step Guide to Succeed

Let me guess. You are looking for information about ZuluTrade because:

  • You have already tried ZuluTrade but it didn’t work out as hoped and you can’t figure out why
  • You are eager to start but you also realize you need to pursue the matter a little more

In both cases, you ended up in the right place.

With this ZuluTrade guide you are about to discover step by step how to effectively use ZuluTrade: from the platform characteristics, to the best strategies to research and use the Signal Providers, to the account management, this guide is a mine of useful information, simple and easy to use.

That you can follow all this guide with a up and working Demo Account, with the same features of a real one.

With the InvestinGoal journey you started from the first introductory Investing for Dummies guide, then you discovered what is Social Trading, and you also passed through the guide which revealed the market that can let the magic happen, the Forex Market.

Basically, you have received everything you need to finally start investing in first person with Zulu Trade.

ZuluTrade Tutorial – Complete ZuluTrade Guide for beginners

First, let’s discover here what is ZuluTrade and its main characteristics.

Do you want to discover other platforms like ZuluTrade, for example eToro, NAGA Trader or Darwinex? Check out our Top 10 of the best Social Trading networks.

What is ZuluTrade?

Zulu Trade is a financial services company. It operates the largest Copy Trading platform in the world (click here to open a Demo Account and see it in a few seconds). He was born in 2007 from an idea by Leon Yohai, a greek entrepreneur born in 1974, active for some time in various online and mobile successful businesses.

Leon Yohai is himself a trader since 2000. Due to the increasing work commitments, Leon realized he could not follow the markets as he wanted. The idea was to create a system in which other traders, which could instead follow it full-time, could trade in his place, while maintaining full control and full ownership of his account and his capital.

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Thus was born the premise of ZuluTrade.com.

Founded in 2007, ZuluTrade is the world’s first and one of the most important online and mobile social trading platform. Over 50 Brokers worldwide utilize ZuluTrade’s cutting edge technology to provide their clients the ability of Social Trading.

ZuluTrade aims to connect Users (Followers) and Traders (Signal Providers) through innovative and Proprietary Technology using advanced performance tools.

ZuluTrade service is provided by Triple A Experts SA – EU Regulated, Licence # 2/540/17.2.2020.

In 2020, ZuluTrade has joined forces with Formax Group. Both ZuluTrade and Formax share a vision to become the world‘s largest one-stop financial community that can meet investment requirements by offering customer-focused solutions while also building the largest Social Trading Community in the globe!

ZuluTrade operated his HQ offices at Athens, Greece where the RnD and product team is located and also operates commercial offices at UK and Japan (source wikipedia).

What type of trader are you?

74-89% of retail CFD accounts lose money

Why Zulu Trade?

ZuluTrade has grown and it has expanded its business network so much that today it supports about 40 brokers worldwide. Among all, the “favorite” is certainly AAAFX, for the simple fact that this brokerage company is owned by Zulu Trade itself (read here our post about the best broker ZuluTrade).

Regarding Europe, the situation is a bit different, following the regulatory update to MiFID II.

“With what broker is more convenient to open a ZuluTrade account?”.

The answer is AAAFX. It’s the broker directly integrated into the Zulu Trade systems, and being also the broker used by the majority of Signal Providers, the replication process is even more instantaneous and precise. In addition, Zulu Trade has a refund policy for those very few trades in which the replication had some problems. With all the other brokers you can seek reimbursement only for transactions closed with a loss worse than the Signal Provider’s one, while with AAAFX you can ask it even for those with a smaller profit than the Signal Provider’s one.

The best ZuluTrade feature is surely the depth of analysis with which a user can study each Signal Provider performance. You can find a long series of precise data about his operational strategy, performance, and even the behavior of the Signal Provider. You can even go to study each trade executed by a Signal Provider, discovering all the evolution that operation had from opening to closing.

Another winning feature of this company is the advanced customization possibility of the replication settings. As we will see in the next lessons, the investor has the ability to manage and modify at will every detail of its portfolio of Signal Providers and of its strategy.

In this factors Zulu Trade has no equal.

If you want to dig deeper into the reasons about why chosing Zulu Trade, here’s our detailed review and opinion.

What do I replicate using ZuluTrade?

For several years this company has proposed only one type replication, before finally offering an alternative.

The first method, the principal, and the one on which is still based on the whole system of performance evaluation, is the fixed replication of the Signal Provider’s signals, choosing by yourself the market exposure you want to keep, regardless of the trader choices.

Let me explain. A trader may decide to open a trade with 10 lots, then another one with 20 lots, then another one with 5 lots. This will not affect you, because how many lots (or mini or micro lots) will be used on your account will be decided by you, and that value will be constant .

For example, if you have decided that the trader operations must be replicated in your account with an exposure of 1 minilot each, the trader may also vary with lot size, but in your account you will have one and only one minilot each operation.

In addition to lots and exposure a Signal Provider may use, in Forex we use PIPs to measure gains and losses, and precisely PIPs are the elements that Zulu Trade will show you to make you understand the Trader’s performance. How much these PIPs will be worth, you will decide it then.

Zulu Trade even provides an automatic Signal Providers ranking. Their performances are studied and analyzed using an algorithm of its property called Zulurank, which returns an automatic traders ranking, based on their performance.

The second method used by the investor is instead the “Pro-Rata” or proportional replication.

In this case, the follower must decide in what proportion he wants to follow the trading orders of the Signal Provider, with clear reference to the Lot Size he uses. By varying the Lot Size selected by the trader, the Lot Size by which the operation will be replicated on the investor’s account will vary proportionally.

With this feature it is now possible to precisely follow those traders who vary the Lot Size of their trade, fully respecting their strategy and their money management.

As we will see, however, this is still a new feature in ZuluTrade (even though fully functional). In fact, the performance shown on the Signal Providers’ personal profiles are based only on the number of PIPs gained or lost, and do not yet take into account their actual value, and the relative performance, according to the Lot Size used.

The only way is to personally view the details of the trades executed by the Signal Provider, to assess precisely the Lot Size used, making use also of Excel.

Why this course?

The first problem for the vast majority of new investors is the over-reliance on the information of the Zulurank ranking page.

Despite their efforts, this ranking is not reliable in order to make meaningful investment choices. The algorithm tends to favor too much those Signal Providers that have good performance only in the short term.

Those who have exaggerated performance in the short term are usually able to reach such numbers only by exaggerating, which means using very dangerous trading strategies, such as martingale, as we have seen.

Therefore, knowing how to analyze independently a Signal Provider’s performance and strategies is one of the most important factors for a good investment with Social Trading.

We talk more about this in our post How to make money with ZuluTrade. The truth, a post we really suggest you to read before proceeding.

Apart from this, Zulu Trade is a platform where the follower investor has really the ability to manage his own fund in a professional manner. The portfolio is fully customizable, and you can also customize the Signal Provider’s operation by setting specific parameters chosen by you.

The Social Trading side of ZuluTrade

In addition to the technical tools, Zulu Trade is composed of a Social part. Investors can vote and comment directly on the work of a Signal Provider, so that all other investors can see the opinions of others and have an idea. Also, you can see exactly what other follower investors like you are doing.

We have, however, warned you about the risk of basing decisions on others’ opinions. Assuming that the majority of people who vote and invests is experienced (or more likely NOT experienced) as you, what is the point to trust their opinion?

Better to have your own opinion, based on definite and professional information.

Comments can be useful in some cases, when they make you aware of some aspects perhaps you had not been paying attention, but Zulu Trade is really the most complete and professional platform for those who want to become proficient in the use and analysis of performance data.

To facilitate the understanding of the use of its platform, this company offers the opportunity to experience the full service with a demo account. In the first chapter we will deal precisely with this: how to best open a demo account with ZuluTrade.

ZuluTrade Demo account for practicing

Now, let’s starts from the first lesson on how to open and especially manage your practice account, because yes, with ZuluTrade you can even start demo.

We have created a whole separated tutorial for the opening and best practices.

You just need to go to that post, open you virtual account, set it up in a couple of clicks, and then come back here.

Go now and read our ZuluTrade demo account guide.

See you here in a couple of minutes.

How the Zulu Platform works and how to use it

Do you want to find out how the ZuluTrade platform works, and all its features?

In this chapter, and all the related articles, you’ll find everything you need to use the ZuluTrade platform at its best.

Great, let’s begin.

In this post, we will examine the “My Account“ section, the page you access to when you open a ZuluTrade Demo Account.

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  • Platforms: Proprietary
  • Min. Deposit: depends on the broker
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(74-89% of retail CFD accounts lose money)

Support Access

Before we even begin, we’d like to point out the support that ZuluTrade itself offers its customers.

As we shall see, going forward with this tutorial, one of ZuluTrade’s strengths, is the support it provides, which can be defined as ready, refined and multilingual.

Inside the My Account section there are three very useful elements for beginners:

  1. Quick Tour: to quickly see the essential elements you can use within the section;
  2. Simplified Guide: to access a quick but very exhaustive and well translated guide, with all the features ZuluTrade has to offer;
  3. Chat: multilingual and available within practically all areas of ZuluTrade; you can immediately contact specialized personnel in order to have clarifications.

“My account” Section Data

The first block of information we will analyse is at the top of the My Account section. This element is very important as it shows data relating to your account’s progress. Given its importance you will always find it at the top of the My Account area, regardless of the section you are in.

At the top left you can find your profile picture, taken from Facebook, if you registered through the Social Network. At the top right of the profile picture is your name, and the identification code of that specific account is under the name. You may have multiple accounts all registered to the same name, so in this drop-down window you can see a list of all your accounts and you can easily switch between them clicking on each one.

To the right of your photo you can find some important data on your capital:

  • Capital: This item reports the value of your capital added to the value of the currently open market transactions.
    Let’s clarify this concept with an example: if your balance is 10,000 dollars, but there are two open market transactions that are losing 100 dollars each, the Capital value will be of $9,800. With this value, you are aware at a glance how much you would profit or lose by closing all positions at any given time.
  • Balance: The amount of capital excluding the currently open positions. Basically, what you see in the Balance field is how much you still have on your account’s “card”, while what you see in the Capital field is what you would have if you had to close all open positions.
  • Margin: Useful when there are open transactions, it reports the amount of margin blocked by the broker to allow opening those trades, as we already saw in the Forex course on trading margins. The capital blocked by the broker depends on the leverage you are working with. The higher the leverage, the lower the required margin.
  • Free Margin: The amount of free and available capital to open new positions. This value is obtained by calculating the difference between the “Capital” value and the one in the “Margin” field.
  • PnL (Profits and Losses): How much money you have actually earned in the last 30 days, considering only the closed transactions, which have already been accounted for. If you have earned $1,000 with closed and accounted transactions, but you currently have open positions for -2,000 dollars, this value would still return $1,000,000.
  • Margin Call -o- Meter: This bar, which shows a percentage value, calculates the account’s risk of exposure to the Margin Call. A calculation is made assuming the worst case scenario, based on the historical data held by ZuluTrade of the traders you have decided to follow, replicating their operations within your portfolio. The formula for the calculation is a proprietary formula of ZuluTrade.
    ZuluTrade considers values ​​below 50% as safe. Values ​​ranging from 50% to 100% are still acceptable, and values above 100% are remarkably risky.

The Margin Call -o- Meter is a very interesting data point, even though it is a calculation of ZuluTrade based on, as we shall see, approximate performance details. However, it is useful to always look at it after having tweaked the settings, especially at the beginning.

If you are an inexperienced investor, you can use the suggestions provided by ZuluTrade as a reference. Honestly, all investors, over time, based on their risk propensity and the desired returns, should give these percentages the appropriate importance.

My Account Control Panel

To access the control panel, click on the icon on the far left of the screen, the one that looks like an odometer. This is the most important area for the performance analysis of your Social Trading account.

In the left section of the page, you can see the situation of the entire portfolio, under it, is the list of connected and enabled Traders (Signal Providers) within it.

Both for the entire portfolio and for each individual trader you can see the amount of money based on the open positions, how much you earned for positions which have already been closed at that moment (the same as the “PnL” data seen before), and the ROI value, or Return on Investment, i.e. how much the individual Signal Provider is making you profit in percentage, or how much the entire portfolio is profiting. For instance, a trader who has made you earn $100 on an account which started from $1,000 will have a ROI of 10%.

You can also find an indication of the Follow Mode, that is, if you are following them in “pro-rate” or “fixed” mode, and the gear icon to access the quick settings section.

The gear setting icon allows you to:

  • Change the capital you wish to invest on the Trader;
  • Change the compensation mode (pro-rate or fixed);
  • Change the maximum number of open positions;
  • Vary the function of ZuluGuard;
  • Activate and customize the capital protection notification;
  • Remove the trader.

In any case, clicking on the portfolio or on a single Signal Provider, the Equity Line chart will be shown on the right. This Equity Line only reports the account’s performance based on the closed and accounted transactions, without including the trend based on the currently open operations.

With the time keys you can choose what data segment to observe, switching from all the available data, to last year only, or the last 6 months, 3 months, 1 month, or even the last 7 days, or day.

There are only two buttons left:

  • Follow Trader, which takes you to the Traders page, where you can find the list of all Signal Providers,
  • And the Simulate My Portfolio, which is a very interesting function.

We will cover both in other chapters.

What type of trader are you?

74-89% of retail CFD accounts lose money

TRADING Section

Now, let’s skip the Settings tab, and let’s open the Trade tab in the “My Account” section.

We must admit, this is the section we know the least. With Social Trading, there is no need to trade personally, because you choose the traders who will do it for you.

In any case, ZuluTrade allows you to open positions personally. Here, you will find all the available currency pairs on Forex and CFDs, with the relative values ​​of Money and Letter (Ask and Bid). Clicking on Buy or Sell, a pop up window will open, to insert the order’s details.

ZuluTrade offers you two types of visualizations, an advanced one, which is what you see in the above image, where each box contains a currency pair with the possibility to click on the sale and purchase price, with the spread in the centre, reported in pips between Money and Letter (the only cost for your trade).

Each box can be positioned wherever you want, thanks to the Drag & Drop technology, to obtain the most suitable configuration for your trades.

With the simple view, shown in the image below, you only have the complete list of tradable instruments on ZuluTrade. With this visualization too, clicking on money or letter will open the window to place the order.

Unless you are a professional trader, we highly recommend NOT trying to trade on your own. Trading is a very complex activity, which is why you can make a lot of money. It’s better to get the professionals to do it for you, replicating their orders.

POSITION Section

Let’s move to the Position Tab.

Within this section of the ZuluTrade “My account” area you are given a detail on open trades and pending orders, i.e. those already entered in the system that will go to market only if certain conditions, normally the price, are met.

– Open positions

Within the open positions section, you will find the list and details of the open and not yet closed transactions, divided by Signal Providers.

Here, you can find the following details:

  • the currency pair of the trade
  • if it’s a buy or sell
  • the lot size of the operation
  • the precise date on which it was opened
  • the entry price
  • the stop price set by the Signal Provider
  • the profit price
  • how much the asset is trading for at that moment
  • The current profit or loss, both in pips and in money.

An important thing to point out, is that all operations can be sorted based on each of the above-listed parameters, in either ascending or descending order. You can indulge yourself in ordering all trades according to their opening date, or maybe by entry price, or by current profit. It only depends on the analysis you’re carrying out at any given moment.

Among the other important features within the Open Positions section, you can find:

  • “Close All”: On the top right. Clicking it will automatically close all trades opened by that Signal Provider.
  • “Lock Trade”: The lock icon shown next to each open trade: Using this feature, you will disconnect the trade from the trader who generated it. Any operation made by the Signal Provider on that trade will no longer be replicated on your account. This means you will have to manually manage the operation. Obviously, if Take Profits and Stop Losses have been set, those will be kept. Activating the lock blocks the trader’s control over the individual “locked” trade, but you will continue to replicate all his other operations, new and old. As already mentioned, if you wish to manually manage trades, be careful.
  • X: Also next to open trade, it permanently closes, manually, only the single trade.

At the top of the box you will also find a summary of the overall situation of the open positions, and you can choose whether to view all operations or filter them by Signal Provider, or by Details, which lists the operations without dividing them by Signal Provider, or by Summary, which displays the operations grouped according to the currency pairs we are currently operating on.

In the Summary option, given a currency pair, such as EUR/USD, we can see how many transactions are currently opened, what are the lot sizes used on the total transactions, if the overall exposure is Long or Short (2 Long trades for one lot and 1 Short Trade for one lot give a net exposure of one Long Lot), what is the average price, and the total profit or loss in pips and money.

To finish with this section, there is also a “Close all open positions” button to close all the open trades made by all Signal Providers (this button is for critical situations), and the On-Off button for the sound effects played when opening and closing positions.

– Order

Checking the Order sub-section will display the list of pending orders entered by the Trader.

Pending orders are orders that will be automatically executed when certain price levels are met. In this sub-section you can see if there are any and what their parameters are. Like before, this section also allows to sort the orders according to the value of each column, both in ascending and descending order.

Just like the open trades section, you can also close all pending orders by clicking on the button at the top right “Close all pending orders”, or you can act on the individual operation by clicking on the lock icon or on the “X”, the functioning and the logics are the same as just described above.

Within these two macro areas, open positions and orders, you will find the Sound on-off lever. This function enables or disables the acoustic notifications triggered when something in the section changes, because new trades are added to the list.

Did you know that thanks to Social Trading you don’t have to be a Trader to earn like one? OPEN AN ZULUTRADE ACCOUNT AND TRY!

(76% of retail CFD accounts lose money)

My account HISTORY

Let’s see the last tab, and one of the most interesting ones, of this chapter dedicated to the “My account” section of ZuluTrade, the History tab.

This Tab is divided into several subsections: History, Trade History, Cancelled Orders Log. Thanks to this section you will be able to track and analyse the historical trend of your account.

– History

This section displays a chart and a list of operations. The chart in the History section is completely customizable.

You can decide the time intervals to be analysed, whether it should display all the available data, or just the data from last year, down to the data from the last day. By clicking on the calendar symbol and selecting the start and end date, you can also view a specific period.

In the drop-down menu on the right, above the chart, you can see the data trend of the entire account by clicking on Total Profit, or go to a histogram chart to see the profits or losses of each Trader who operated on your account.

By checking the name of the single trader in the drop-down menu, you can customize your analysis for a single Signal Provider or for multiple Traders, depending on the type of analysis you want to perform. By selecting traders like this, you will have a graphical representation of their performance, not a histogram, but an equity line, much more representative of the historical performance of their operations.

You can also select the “Active Traders” option, to only see the performances of traders you have copied on your account.

Using the Currency drop-down menu, positioned further to the right, you can further limit the analysis data, asking the system to only display data relating to one or more specific currency pairs.

Below the chart, on the left, are three buttons. Let’s analyse the first two:

  • Profit in pips;
  • Profit in (Euro, Dollars – the currency you have chosen for your account).

By selecting one of these two buttons you can see the evolution of the profits on your account, in Euro or in pips, and acting on the previous drop-down menu you can decide whether to see these values ​​directly as a total on your account, or by contribution from the various traders, each represented by their equity lines.

Selecting the pip profits and just one trader, we can see an interesting detail.

Two lines appear on the graph, a blue one and an orange one. The blue line represents the pips earned or lost from trader’s operations, the orange one is the Follower line, i.e. the pips you have earned or lost on your account. The difference may depend on slippage, or by many other factors, as we shall see later.

In any case, knowing how to view this data is very important.

If you click on the monthly button, the performance of the account or of the individual traders will be merged to a monthly basis and will be identified by a histogram. These are two very interesting ways to analyse equally interesting data.

Below the Equity chart you can find the list of operations performed on your account, grouped by all Signal Providers, or divided by each one. Clicking on the tab of a specific trader will flag it, as in the Moderator drop-down menu earlier.

Finally, as you can see, you can download the history data as an Excel file.

Settings Section – How to set up the platform

Do you want to figure out how to use ZuluTrade’s platform settings to setup your account, the Signal Providers and your trader portfolio?

We’ll go through it all in this lesson!

The “Settings” section of ZuluTrade is definitely the most important area in the “My Account” section, since this is where we’ll operate to setup our strategy and our portfolio.

PLEASE NOTE

Zulutrade
  • Regulated: HCMC
  • Platforms: Proprietary
  • Min. Deposit: depends on the broker
  • Regulated: HCMC
  • Platforms: Proprietary
  • Min. Deposit: depends on the broker
Open Your Account!
(74-89% of retail CFD accounts lose money)

ZuluTrade Portfolio Settings

From the settings section, we can operate in Portfolio and Automator mode. Let’s start by taking a detailed look at the portfolio section, which is the one that opens by default when accessing the “My Account” settings.

As you can see from the image below, a specific box is dedicated to each Trader (Signal Provider) you have decided to include in your portfolio.

At the far left of this box is a check box, which allows you to select one or more Traders, to Enable/Disable or Remove Traders in bulk with the buttons below.

The Enable/Disable Trader feature allows you to enable or disable the automatic replication of a Trader’s operations, still keeping the Signal Provider within your portfolio. Selecting the Remove Trader buttons however, you will completely remove the Trader from your portfolio.

ZuluTrade Trader Box Settings

Now let’s take a good look at the settings bar for each individual trader:

– ZuluGuard Shield

First, we find the ZuluGuard shield, an interesting automatic defence system, which will be explained in the next post, along with other interesting tools.

– Calculation Method: Fixed or Pro-Rata

Next to the shield icon, you can choose the Calculation Method for each trader. You can decide between Fixed, where you set the lot size per operation, or Pro-Rata, which allows you to set the percentage to use to replicate the lot size of the trader you are following. Although this course is developed on the Fixed method, which has been operational since the beginnings of ZuluTrade, we have written an entire post on our blog about how the ZuluTrade Pro-Rata works .

Immediately after is the Lot/Pro-Rata % box, where you can enter the Lot Size you wish to assign to that Signal Provider, if you’re using the Fixed method, or the percentage, if using the Pro-Rata replication method.

– Max Open Trades

The next element is the Max Open Trades, where you can set the maximum number of transactions opened simultaneously that the Signal Provider can maintain. If you don’ set any limits, the infinity symbol is displayed, which indicates that all the operations opened by the trader on his account will be replicated. This function can become quite useful when using the Fixed calculation method, but it loses effectiveness with the Pro-Rata replication method, as you have already set a percentage of lots.

– ZuluTrade Padlock

Further to the right is a padlock icon. The lock mechanism blocks the replication of the trader’s signals. By activating the lock, no operation from the trader will be replicated to your account. For the ones that are already opened, no further signals will be received from the trader, and will therefore be closed only when the stop loss or take profit is reached, or if you manually intervene to close them. It’s as if you have “suspended” the activity of the trader within your portfolio.

– Clock Feature

The clock icon (time filter), allows you to set times periods when you don’t want ZuluTrade to replicate the operations of that particular Trader (Signal Provider). Let’s say you do not want to copy operations at night, all you have to do is just filter out the night hours using the boxes in the following pop up window.

– Pencil Feature – Advanced Settings for Currencies

Finally, we have the Pencil icon (Advanced Settings for Currencies). Clicking on the icon will show a pop-up window allowing you to use all the options seen up until now, applying them to a specific currency pair traded by the Signal Provider.

Actually, accessing the advanced currencies filter, you’ll have many more filters that we’ll briefly describe below.

– Max Lot

Max Lot: You can set a replication limit for operations when a maximum lot size per specific currency is reached. If, for instance, you set the limit of 0.5 lots on EUR/USD, once the sum limit for the open transactions on the EUR/USD currency has been reached, only the trader’s activities for trades that do not concern the EUR/USD currency will be replicated.

– Limit and Stop

Limit and Stop: With these two boxes you can intervene to modify the replication of the Trader’s operations. By setting a value in the Limit box, such as 30, ZuluTrade will use that level every time to decide when to close a profiting trade, despite what the Trader (formerly Signal Provider) decides to do. Each of these trades will be closed when 30 pips are reached. The same happens for the Stop signal. Regardless of what the Trader will do and the stop levels he is using, his replicated trades will be stopped when reaching the pip level indicated in this setting. Obviously, as with the lot size setting, the limit and stop levels are to be considered for a single currency pair.

– ZuluTrade Safe Feature

Both boxes have a key next to them. This is the icon for the Safe feature. The Safe feature is one of the best protection techniques ZuluTrade has in store. By activating the Safe feature, ZuluTrade considers and compares, from time to time, the most secure value between those set by the Trader and those set by you here in the “My Account” section. For instance, if you set a Stop at -30 pip, activating the Safe function, and the Signal Provider decides to close the trade at -20 pips, ZuluTrade will use the stop level of the trader, as it is considered safer. If, on the other hand, the trader wants to close the trade at -50 pips, ZuluTrade will use your -30 pips as the stop level, as it is safer than -50 pips. The same logic works for the Limit level with the Safe function. The closest and therefore easier to reach and safer limit levels will be used by ZuluTrade to close trades, excluding the farthest levels, which are therefore at greater risk of not being reached.

– Trailing Stop, Pip Spacing, Compensation Pip

What follows are three features: The “Cogwheel” in the Stop column, represents the “Trailing Stop” feature, the “Offset pips” function, and finally the “Pip spacing” feature. These three functions have the ability to change the operating strategy set by the trader drastically and, if managed knowledgeably, they can give great satisfactions. This is why we decided to dedicate an entire chapter to them in the next lesson.

To conclude with the advanced currencies filters, we have to explain the utility of the “sheet” icon on the far right.

By clicking the icon, you can extend all the settings of the single currency pair to all the currencies on ZuluTrade used by the Trader. Basically, it turns the filter you’ve just set for a currency pair into a general settings filter for the trader. Which isn’t bad for an evolved operability!

At the top right of the sections we have just described there are two buttons that refer to two interesting sections, the “Forex Profit Simulator” and “My lists”. We’ll see these sections in detail later.

Below these settings boxes, the “Follow Trader” button forwards us to the Signal Provider classification page, which we shall see later on.

WARNING!

To save the changes you have made to ZuluTrade, go to the bottom of the page and click on the “Save Advanced Settings” button. You wouldn’t want to work for several minutes and then lose everything just because you closed the page forgetting to save?

If, on the other hand, you aren’t satisfied with the work you’ve done, and you’d like to return to the original settings, just click on the “Reset Changes” button, to return to the last saved settings.

What type of trader are you?

74-89% of retail CFD accounts lose money

ZuluTrade Account Settings

Up until now, we have seen the settings you can work on as regards the portfolio in the “My Account” section. Now, let’s move on to see the Copy Trading account settings.

– Disable the Reception of New Signals

You can decide whether to “switch on” or “switch off” the account using the “Disable the reception of new signals” button. Suppose you’d like to stop replicating signals for a while, but you know you’d like to resume with the same settings whenever possible. Just disable the replication of all signals and reactivate it when you want to.

– Lot Format

“Lot format” is a very important setting. Remember when you set the Lot Size in the Trader settings box? There, you were entering the values ​​using standard lots as a unit of measurement. In case you prefer to use mini-lots or micro-lots as a unit of measurement, you just have to come here and change the selection from this drop-down menu. All the lot size values ​​in your settings will then be expressed according to that unit of measurement.

– Maximum Open Lots

“Maximum Open Lots” is the same function we have already seen, with which you can set a maximum volume limit in the total transactions of the portfolio, after which ZuluTrade will stop replicating trades, but this time it will be applied to the entire account, not just to a single Trader or to a single currency pair. Suppose you set 5 standard lots to Maximum Open Lots, and you have three Signal Providers all operating with a standard lot size. The first trader opens 3 trades, the second Signal Provider opens 2, and the third one opens another 2. ZuluTrade will only replicate the operations of the first two Traders, because their trades will reach the maximum allowed volume.

– Indicative Leverage

“Indicative Leverage” is an indication of financial leverage, but be careful not to get confused. This parameter doesn’t indicate the Leverage of your trading account with your broker, it only indicates the leverage value that ZuluTrade will use to do some of its automatic calculations. Remember the Margin Call -o- Meter, which reports the possibility for your account to incur in a margin call based on your settings? One of the fundamental elements of that calculation depends on this leverage value.

Give it a try. Create a portfolio and check the percentage on the bar. Then, come back here and increase the leverage value, for instance from 100:1 to 200:1. Check the percentage again. It should certainly have decreased. This is because the higher the leverage, the less the broker asks for margin for each transaction, so the chances of not having enough margin (margin call) decrease. This being said, you might be tempted to select the maximum value of 1000:1 (yes, one thousand to one), but you should definitely avoid this. The leverage value ZuluTrade uses for its calculations is one thing, the leverage value that your broker actually provides you is another. Here, you should enter the actual leverage value the broker will provide you when opening a Live account. If you’ll be using AAAFX, the leverage they provide is 100:1, so you can enter this value even now you’re working with a demo account.

– Monitor My Account

“Monitor My Account” is another safety level promoted by ZuluTrade to try to reduce the risks of system malfunction as much as possible. Even though it’s an issue we personally never encountered recently, it still could happen. ZuluTrade lists one by one what these hitches could be.

Basically, a replication problem is when the Signal Provider does something with a trade in his account, but that action is not replicated on the open trade in “My account” (for example, the trader closes the trade but the one in the Investor account, stays open, or the trader changes the stop loss, or take profit, but the changes aren’t made on the investor’s account). Generally, the causes of these problems depend on temporary connectivity issues, or on the diversity of prices quoted by various brokers, which in some cases can create a conflict between the Signal Provider’s trade and the Follower Investor’s trade. Flagging this box, you allow ZuluTrade to try to close or restore the same situation of the Signal Provider every time the system realizes that something did not go as planned. In some cases, for some types of brokers, this function is mandatory.

– Avoid Hedging

The term Avoid Hedging, refers to the practice of opening two or more operations on the same account on the same instrument with opposite directions. Buying a lot of EUR/USD and simultaneously selling one is considered Hedging. Some brokers do not allow this, others do, but it depends on the broker and it is important that you know yours allows it ahead of time. For Social Trading, hedging is essential.

Suppose a Trader’s strategy does not provide for it, so he will open operations on a particular currency pair always in the same direction. The problem is that there could be another Trader who plans to open a trade on the same currency pair, but in the opposite direction. So your broker must be able to accept both orders, otherwise it will only replicate orders from the same direction (long or short) of the first trade that was opened. Suppose that, despite this warning, you still want to avoid hedging on your account, because your live account broker doesn’t allow it.

By flagging “Avoid Hedging” you ask ZuluTrade to treat your demo account exactly as if it were a real live account with a broker who doesn’t allow hedging. Now, you can test out your portfolio, understanding whether hedging is really essential for Social Trading.

– Favourite Time Zone

Finally, we can set our preferred time zone. The time zone we select here will be used to indicate every date on the site, particularly regarding the temporal details of the trades (opening date, closing date, etc). Personally, we have always been comfortable using the UTC time zone, which is the time zone that dictates the trading day throughout the world, which makes things easier to follow, but you can easily choose another setting, just remember what it is and make sure you can easily manage the data. Suppose you want to avoid Traders who operate at night. You have to be sure of the times and the time zones in use, or you could easily get confused when you see the details of their operations.

ZuluTrade Automator Settings

The Automator section of the ZuluTrade settings simply confirms that ZuluTrade is one of the best Copy Trading platforms in the world as regards the customization of the account.

In addition to the many settings we have just seen in the portfolio section, which can be defined somewhat “partially static” (like setting a lot size or a percentage of replication, editing stop losses or take profits), through the Automator function you can also create dynamic rules for portfolio management .

The incredible thing about this section is it provides the possibility to create a portfolio management only a programmer would be able to set up. As a matter of fact, ZuluTrade, through the Automator feature, provides users with a graphic interface which eliminates the barriers of programming.

You just have to know what you want to happen on your account when certain conditions occur and set it all up.

For instance, you can decide that, after a certain profit, the percentage of Pro-Rata assigned to the trader is automatically increased, or that other trades shouldn’t be opened if the total number of opened trades is higher than a certain value, etc.

Imagination is the only real limit here.

The management of the feature is very simple, we start by creating a rule which we must provide with a name and possibly a description.

The mechanism is quite traditional for computer routines. First, a condition is verified, which is set as an “IF” statement, among the conditions proposed by ZuluTrade. If the system verifies the set condition is true, which can be one or more, the consequence or action is called, identified with a “THEN” statement, which are also chosen among the available ones.

In the image below we have, trivially, set a profit condition reached on the account, in Euro, so that if 10,000 Euro are exceeded, will trigger the closure of all the trades in the account.

With these two lessons we have finished our tour through all the functions available in the “My account” section.

But, wait a moment. Dealing with all the features and tools, we have left some out, to deal with in another chapter.

Well, the next chapter. In the next chapter, we’ll find out how the new ZuluGuard, Trailing Stop and Offset Pip features work.

ZuluTrade special trading tools

In the previous lesson we looked at all the parameters on which we can intervene in the “Settings” section of our Zulutrade investment account.

We have, however, left behind four tools that are worth a separate discussion, and which are the last four Zulutrade creations.

We are talking about the ZuluGuard, Offset pips, Pips Spacing and Trailing Stop functions. Let’s start from the latter.

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TRAILING STOP

The trailing stop is one of the latest additions made by Zulutrade to its already professional and very adaptable platform.

We need to start by explaining what a trailing stop is in the first place, and how it works.

The trailing stop is a dynamic and automatic stop which is used with the aim of leaving profits run and cutting losses.

When you set a normal stop loss you are deciding at what level the transaction will be closed, then what will be the potential loss.

With a trailing stop instead things get more interesting. For example, if you set a trailing stop at 50 pips, and your trade goes in the right direction and arrives at a profit of 50 pips, the system, at that point, should have automatically moved your stop at break even, by pulling it, while the price was rising, one pip at a time for 50 pips towards your market entry price. If the trade continues to increase profit, let’s say to 70 pips, the system would shift automatically stop at +20 pips profit.

In practice, when the trade is opened with the trailing stop order entered, as soon as the trade gains even one single pip the stop will be pulled of one pip, so at that point it would no longer stop at -50 pips, but at -49. And if the trade would earn another pip, the stop would move to -48, and so on.

The interesting thing is that the trailing stop follows the price every time it moves increasing our profit, but on the other hand, when it comes back against our direction, then the stop remains firm to the last price level touched. In our example, if after gaining 2 pips the price had gone back 10 pips, our stop would still have been at -48 pips from the entry price.

Trailing stop for helping profits

The trailing stop is a stop level that dynamically follows price in its progression. If the price goes in the right direction of the trade, consequently the stop will automatically move, with a distance level decided by you, as in the example 50 pips. If the price should go against the trade, the stop remains fixed and would be activated if the price would go in the opposite direction of the amount of pips decided by you. This is a classic example of what is meant by “Cut the losses and let the profits run.”

The trailing stop, if properly set, could potentially follow the development of the trade and properly close the operation when the trend movement would be actually finished. And the best thing is that it would do everything automatically, no need for you to manually change the stop loss level.

Zulutrade gives you the chance to use this interesting trading tool with the operations of your Signal Providers.

To use this function, you must obviously go in the “Settings” tab. In the Stop column you can find also a “T” symbol next to the “Safe” button. That is the Trailing Stop function.

How does this work? Let’s say you want all the operations of that Signal Provider to have a trailing stop at 50 pips. Just enter 50 in the appropriate box, and click on the “T”, so that it changes color. From that moment on, the Trailing Stop is activated, and each new trade will have this function.

The Trailing stop function can be also implemented per individual transaction. Of course, having to act on a single operation, you have to go to in the “Positions” tab of your account.

Once inside, you can access the trailing stop function for each transaction by clicking on the corresponding stop loss value. A window will pop up where you can interact in different ways with the stop loss.

With Stop Value you can enter the price level at which you want the trade to be stopped out.

With Stop Pips, instead of deciding the price level, you can decide the amount of pips you want the stop loss to be.

Finally, you can enable or disable Trailing Stop function with On/Off, and decide the number of pips.

Once you have made your decision, simply press “Set”, and Zulutrade will save and use your new settings.

To use with caution

To use a trailing stop is definitely a great opportunity to try to improve the performance and the risk protection, but keep in mind two things:

1) You have to know how to use logically and with informed basis. If used too much, and without judgment, is likely to cause more harm than good. Always remember that the strategy of a serious trader has been built according to the statistics. Often, it’s the statistics that says that the stop level should be that number of pips, and that it must remain fixed, because only this way you can get statistically the performance of high profit and low risk to which the strategy aims.

2) In addition to point 1, if you use a too tight trailing stop, you risks to block too early the trade’s life. On one hand you could save some pip of stop, and this could be a good thing. But on the other hand, almost certainly, you will also stop some of the operations that would have made a lot of pips in profit. Don’t underestimate this point. Doing this type of work involves changing strongly the risk/return parameters of a strategy. For many traders and many strategies the risk/return is everything, even more important than when, how and why to open a trade.

For these reasons, in order to properly use the trailing stop, you need a certain level of in-depth knowledge of the Signal Provider’s strategy. Without that it would be dangerous because of the above.

In the Investing Gold section we treat this topic in depth, in order to give way to reason in the right manner, and understand if and how it’s appropriate to use the trailing stop.

OFFSET PIPS

Let move to Offset Pips, by far the newest Zulutrade innovation.

With this function, you can choose to replicate the trades of a Signal Provider at a different price from the Signal Provider’s one, for a number of pips corresponding to the value you entered.

To explain it better, if you enter -10 of Offset Pips and the Signal Provider opens a trade, that trade will not be immediately replicated into your account, but Zulutrade will wait to see if the trade reaches -10 pips of drawdown, and then, only then, it will open the trade also in your account. Of course, your trade opening price at that point will not be the same as the Signal Provider’s one.

Conversely, with a positive value of +10, if the Signal Provider’s trade should reach +10 pips profit, Zulutrade will proceed with the replication by opening that trade on your account.

So, when you work negative, trades are opened at a better price than the Signal Provider’s one, vice versa, when you work positive, at a worse price.

To choose whether to work in positive or negative, and for how many pips, you must be familiar with the Signal Provider ‘s operation, so you can optimize it. If you don’t know it in detail, rather than optimize it you run the same risks discussed a little while ago about trailing stop.

Always remember that a serious trader has tested its strategy on long and complete historical data, so the strategy is already optimized to work on different scenarios. This does not mean that we cannot possibly improve it a little bit with our settings, but you definitely have to proceed with caution and after investigation.

PIPS SPACING

Accessible only from the custom settings for the currency pair, Pips Spacing is the absolute last tool implemented by ZuluTrade.

This new feature may serve to limit the actions of a Signal Provider, and it works especially well with all those traders who tend to open several trade all at the same or similar price level.

Sometimes it’s about strategy, which tells that once an entry setup is found, the trader should enter the market with multiple operations at the same level to close them later at different time or targets. Many other times instead, once a entry setup is found, the Signal Provider places several operations at the same level simply to increase the number of commissions earned through the replication of other investors, without a real strategic reason (we talked about it in this post on Social Trading risk factor).

The operation is simple. Given that there is already an open operation in the market, you just have to set the minimum number of pips of difference that the entry price of the new trade must have form the entry price of the position already in the market. Same story for a pending order.

Let’s say we have a trade open at 1.5000 and a Pip Spacing of 20 pips. If the Signal Provider should open any type of trade, whether it is Long or Short, spot or pending, with a price ranging between 1.4980 and 1.5020, those trades will not be replicated on your account. Should he open trades with price from 1.5021 upwards or 1.4979 downwards, those trades will be replicated on your account.

What type of trader are you?

74-89% of retail CFD accounts lose money

The ZULUGUARD tool

Zuluguard is one of the Zulutrade attempts to provide the inexperienced follower investor with an automatic risk management tool. The Zuluguard assumption is very good and its usefulness is that we can automate some actions, authorizing Zulutrade to do them for us.

To use the function just click on the orange shield, and it a pop-up window with the setup panel will open.

The parameters on which Zuluguard works are three: the Capital Protection, the Single Trade Protection, the Max Open Trade Protection.

For each of these three parameters you can choose a specific protection level identified by a number, at which you can tell Zulutrade to carry up to 3 programmed actions:

Close all trader’s trade: when reaching the security level, Zuluguard will be activated and all the Signal Provider’s operations will be closed permanently.

Disable the trader: the trader will be disabled and his signals will no longer be replicated. However, if you have not selected the first option too, his open trades will not be closed and you will need to handle them.

Replace the trader with equal or better ZuluRanked trader: the senseless option. If, and only if, you have selected also the second option that disconnects the Signal Provider from your account, you can select the third and let ZuluTrade automatically propose a new Signal Provider for you, in your portfolio. If so, then you will have to enable him by choosing the lot size and the other possible settings. Obviously, it’s the Zuluguard option you never have to use if you want to become a professional and base your choices on your expertise.

The Zuluguard’s intervention parameters

Let’s see now one by one the three parameters on which ZuluGuard can be activated.

– Capital Protection

This tool works as a trailing stop, but used on all your capital, therefore on the balance of money earned through that Signal Provider. As seen earlier, the trailing stop is a preset dynamic stop, that moves following the increase in profits, but on the contrary, doesn’t ever go back in case of losses.

In practice, it’s the maximum amount of money you are willing to lose with the Signal Provider. Let’s make an example. You have set a $ 1,000 Capital Protection. The trader works and earns $ 2,000. But then he begins to lose, making you lose as well $ 1,500, therefore with a balance went from 2,000 to 5,00. Hold on! This is what would have happened without the Capital Protection. With the security level at $ 1,000 instead, Zulutrade would have acted (in this case it’s recommended making it close all positions) as soon as the amount of the fluctuating losses, ie opened, had reached -1,000 $. This means that you would not have found the balance to $ 500, but at $ 1,000 (2,000-1,000 = 1,000).

In addition, it’s a dynamic stop. Let’s assume the trader does not make you lose $ 1,000, but instead he makes you earn $ 2,000 more, bringing the total to $ 4,000. At this point, the worst-case scenario in which you may come across would be to find the account at 3,000 (4,000 reached – 1,000 of Capital Protection), because, should that threshold been reached, Zuluguard will intervene to protect your profits.

Should be noted that you have to consider not only how many pips the Signal Provider lose, but above all what is the lot size you have assigned, because the money you actually lose will depend on both factors.

But be careful, to use ​​too tight values could trigger ZuluGuard too early and unnecessarily. It’s a tool to be used with caution. You will definitely need to consider the classic Max Drawdown value (not the Zulutrade’s one) to use it wisely.

– Single trade protection

This type of ZuluGuard protection acts on each trade opened by the Signal Provider. The number of pips you choose as Single Trade Protection will be the maximum number of pips that ZuluGuard will tolerate before acting according to your choices.

In practice it’s something like the Safe Stop, the option we saw in the Settings chapter. In this case, however, not only you can close that operation, but even all of them, if not directly disconnecting the trader.

– Max Open Trades Protection

We know that, in a Signal Provider’s strategy, the maximum number of transactions kept open simultaneously is a fundamental value in order to understand the level of risk.

If you have observed the data of at least one year, we’ll be entitled to think that statistically the Max Open Trades value should be that one, and that it should not change, provided that the Signal Provider doesn’t say differently. Or maybe there can be a Trader’s communication in which he declare precisely how many trades he opens simultaneously in his strategy.

In cases like this, why not use this ZuluGuard protection tool? If the Signal Provider should suddenly increase even of one of his Max Open Trade value, it would mean he’s no longer following his own strategy, or that something very unusual and potentially dangerous is happening, so why not begin with turning him off, and then run to see what’s going on?

ZuluGuard takes action, and also warns you

Among all the three security parameters on which ZuluGuard work, the only actions we use are the first two, “close all trader’s trade” or “disable the Trader.” The third definitely not.

The most interesting thing though, is that when ZuluGuard is activated, you can choose to be notified by email. In this way, even if you’re not the PC, you can quickly go from your smartphone to control what is happening. Especially if you use the “disable the trader” function, the operations will not be closed, but the trader will be temporarily disconnected, in order to prevent him maybe to open more trades, and you will be notified so you can assess the situation, and perhaps find that it has been merely a misunderstanding (it’s only an example, but indeed possible).

In any case, ZuluGuard is a tool that for sure can be useful, but that should be used with caution.

To conclude, for those who are not able to reason about what values should be appropriate, Zulutrade offers its own automatic calculations, to facilitate the choice, which in certain cases may also be an appropriate choice, since in this case is based on clear and simple data.

How the ZuluRank works and how to use it

Curious to know how the ZuluTrade Trader ranking, the ZuluRank and all the search tools work?

You’re in the right places.

The ZuluTrade Traders page collects all, and I do mean all, of the thousands of available Signal Providers on this platform.

In the following chapters of this course we will explore all the ways in which you can work with this long list, including all research methods, which are very important to find the traders with the features we are interested in.

In this chapter, we will do a roundup of all the values you see listed for each Signal Provider.

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  • Regulated: HCMC
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The trader’s personal details

Let’s start from the left.

First, there is the trader’s picture and his full name. Photos and names are not items to underestimate. Recognizing the trader’s photo is important, but what matters most is to identify precisely his name.

Some Signal Providers (who actually are not at all real Signal Providers) have created fake Signal Provider users with the same picture and a very similar name to that of popular and well followed Signal Providers. Their hope is that some naive investors will get confused when they will decide to follow those famous Signal Providers, linking mistakenly to the fake traders. You can copy the picture, but you cannot copy the name, so pay always close attention to the full name of the trader that interest you.

The number you find in the left of the picture is a simple reference, which once served only to identify the rank of the Signal Provider according to the Zulurank, the ZuluTrade algorithm that created an automatic classification. Today it is not so. The Zulurank ranking has not disappeared completely, but the way to access it has changed.

Directly on the photo there is the flag of the trader’s origin country, while under the name are reported the first words of the strategy description directly supplied by the trader himself.

Below that we have the space in which it’s shown with what broker the trader has opened his own trading account. It’s very common to see written “ZuluTrade” instead of a broker’s name. This doesn’t mean that ZuluTrade has also become a broker. This is the result of a new project implemented by the company, called ZuluTrade+, in which the Signal Providers have the ability to trade directly from the ZuluTrade platform, no need to have an account with another broker and a platform (for example an MT4). The securities and exchange rates prices are provided by AAAFX, the broker owned by ZuluTrade. So, in these cases, instead of the broker’s name you will find written “ZuluTrade,” instead of, for example, AAAFX.

Next to the broker’s name there’s a place where you can find up to 10 different symbols. Let’s see what they mean and what their value may be:

Green dollar: Signal Provider is using a Live account. This means that the trader is committing his own money on his strategy, and it could be a reason for confidence. However, you should not give too much weight to this fact. Remember that now you can open live accounts with only a few tens of dollars. A Signal Provider may open an account with very little money just to get this symbol and gain confidence, despite his skills could not be that great.

Blue dollar: Signal Provider is using a Demo account and he is following himself with a live account. The considerations of this option are the same as before.

ZS (ZuluScripts): this trader is operating on ZuluTrade+, using Zuluscripts. This feature allows the trader to host his automatic EA trading strategy directly on the ZuluTrade’s server. In theory, this system should make the signals’ replication even more fluid and above all instantaneous.

ZuluTrading API: the Signal Provider is sending and managing signals using his own trading program that communicates with ZuluTrade through its API. Basically, instead of accessing his own Signal Provider account at ZuluTrade and handling the task from there, the trader is using his own program (we do not know which one) that can communicate with ZuluTrade thanks to the API of the latter.

FIFO Rule: the Signal Provider trades in accordance with the FIFO rule, which stands for First In First Out (The first one that comes in is the first that comes out). This rule is even mandatory at certain broker. In practice, if the trader opened two operations, he cannot close the second until he closed the first. Complying to the FIFO rule, from a certain point of view, can certainly be an indication of security of his strategy, although in some cases it becomes limiting. This symbol in each case identifies also a trader who does not apply hedging techniques, i.e. with operations of opposite sign on the same instrument at the same time (eg, long and short at the same time on EUR / USD)

Star: as we will see in the chapters on the Signal Provider’s profile, follower investors with live accounts have the opportunity to vote on the trader’s performance on 3 parameters, with grades ranging from 1 to 5 stars. Who has an average of at least 4 stars is awarded with this “Star” recognition by ZuluTrade.

Hedging: in trading there are different types of hedging, we have seen one a few lines above. Another way instead consists in trading taking advantage of the positive and negative correlations that various pairs may have between them. Using these techniques in an appropriate manner can lead to a good risk and drawdown management. ZuluTrade, thanks to its sophisticated system of performance analysis, is able to understand who uses (or maybe just try to use) this type of strategies.

Medal: traders with this medal are the Zuluveteran. The award is given only to those traders who have traded associated with ZuluTrade for at least 2 years, and that, in their Signal Provider careers, have always maintained on average a high ranking position.

Calendar release: to trade when the economic news are released by the news agencies can be very profitable, as well as very dangerous, because the volatility may also increase dramatically, and sometimes explode out of control. It all depends of course on the type of strategy employed by the trader. This symbol identifies those Signal Providers that have historically done a lot of operations in conjunction with the release of this news.

EA (Expert Advisor): the trader has an account with a broker, we don’t know if demo or live. What we do know is that he uses the MetaTrader Trading platform 4 (MT4), and he works using an Expert Advisor loaded on his own platform.

Let’s move a little to the right to look at the box with a sort of stylized Equity Line inside. Click on one of them. This will open a pop-up window that will show you all the available chart. We will analyze this chart in the chapter on the Signal Provider’s profile.

5 Important Factors to Keep in Mind When Prepaying Your Home Loan

Highlights

Avoid lenders who charge for prepayment

Reset the tenor with every prepayment of home loan

Check CIBIL for prepayment updates on your home loan

Make prepayment of home loan keeping tax benefits in mind

Making part-prepayments on your home loan reduces your overall repayment burden to a great extent, as it reduces your principal, and thus your interest. However, prepayments don’t just refer to making an extra payment when your finances permit it. Make prepayment of home loans with careful deliberation to see how you can save more, gain a stronger financial foothold, and reduce your lengthy home loan tenor too.

Take a look at 5 considerations to factor in while making prepayment of home loans.

1. Choose a lender who does not charge extra for making prepayment

While prepaying is a rewarding experience for you, it is not so for your lender who stands to lose on interest. So, your lender may charge you a certain amount as prepayment fees. Usually, a home loan on a floating interest will not incur such charges, but if you have a fixed interest home loan, you may be paying extra to make part-prepayment. So, select a loan like a Bajaj Finserv Home Loan that has no charges on floating rates and low charges on fixed rates.
Additional Read: Difference Between Fixed And Floating Interest Rate

2. Ask your lender to reduce the loan tenor against prepayments instead of EMIs

Using the home loan EMI calculator available on lender websites, you may have chosen your EMIs with care to ensure that you are paying the most you can, while leaving room to pay for other fixed and variable expenses. When you get a salary hike or a bonus, you can make prepayments; however, ensure that your prepayment reduces your tenor and not the value of subsequent EMIs. This will help you close your loan quicker, and pay less interest too.

3. Make sure your prepayments reflect in your CIBIL report

Making prepayment of home loans is a sign of financial fitness. This means you are able to deal with your existing financial obligations efficiently and are able to bring about balance in your income and lifestyle. So, be alert about the acknowledgments your lender sends to you and CIBIL owing to your prepayments. CIBIL updates their database 45–60 days from your date of payment or your lender’s intimation, whichever is earlier. Remember to apply for a CIBIL report at least once in three months to check for the updates. The reduced home loan obligation creates a positive implication on your credit score and improve your creditworthiness.

Six Things to Remember Before Taking a Home Loan

4. Weigh your prepayments against home loan tax benefits

Your home loan allows you to claim deductions for both principal and interest repayments.When you prepay, your principal and subsequent interest reduces. So, ensure you claim the tax benefits in other ways when planning to prepay. The best thing to do is to plan your prepayments in advance using the home loan prepayment calculator in such a way so that you can get maximum tax benefits yet are able to reduce your principal considerably with every prepayment.
Additional Read: Home Loan Tax Exemptions and Benefits

5. Check whether investing the amount is better than prepaying

In the same vein as above, you can also use the home loan prepayment calculator to check whether the interest you save when you prepay is more than the potential earnings from investing the same amount. If yes, prepay, and if not, consider investing.

Considering these 5 factors will help you make the most of prepaying your home loan and saving money in the long run. Thinking of factors like prepayment and foreclosure before taking a home loan is a smart move. If you’re in this stage, the next step for you to become a homeowner is to use the home loan eligibility calculator to find out if you qualify for a loan from your chosen lender.

Bajaj Finserv brings you pre-approved offers for personal loans, home loan, business loans and a host of other financial products. Not only does this simplify the process of availing financing, but also helps you save on time. All you have to do is share a few basic details and check out your pre-approved offer.
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Zulutrade Review & Brokers

ZuluTrade, is the worlds largest broker independent social trading network and is support by over 60 different brokerages. This means that those who open an account with ZuluTrade have a huge range of different brokerages to pick between, today we are going to outline the factors a trader needs to consider when picking a brokerage to use with ZuluTrade. In my opinion there are five main factors to consider when picking a ZuluTrade brokerage.

This is the internet’s biggest ZuluTrade review.

Sit back and learn everything there is to know about it.

On our TheFXView Exclusive Zulutrade guide we shall write about:

1. What is Zulutrade and how does it work

2. Can you make money with Zulutrade? an experiment and review

3. Our top broker choices for Zulutrade

4. ZuluTrade Strategy Further explain about commissions and fees & compare relevant brokers

5. Zulutrade+ Web Platform Review

6. Zulutrade Alternatives+

What is ZuluTrade?

ZuluTrade (website: zulutrade.com, mobile website: m.zulutrade.com) is the biggest broker independent social trading network, which means that the platform supports a number of different Forex brokerages. I believe there are around 65 different brokerages that offer ZuluTrade support meaning that your spoilt for choice when picking a brokerage to use with the platform. On the platform you will find a wide range of different signal providers, after having found a single provider you like you can follow them. Following a signal provider means that you will copy the positions opened by the trader(s) you follow, thus automating your trading. Of course you can set your own trading size and risk profile which will on occasion lead to your account not copying one of the traders you follow. The idea is to follow successful traders and hopefully make significant profits, though of course significant risk is still involved.

How does it work?

Being broker independent you might ask ‘What’s in it for ZuluTrade?’. Well the answer is that brokerages that partner with ZuluTrade share revenue with the ZuluTrade network meaning that ZuluTrade gets a cut and remains broker independent. However, they do have their own brokerage AAAFx which is a good option for those wishing to use the platform. The other question you might ask ‘Is why would successful traders share their trades with other traders? Well the commission that ZuluTrade receives from the partnered brokerages is then shared with the signal providers, meaning that the best signal providers receive a significant side income if they gain a large following of traders.

View Reliable Top-Rated Zulutrade Brokers:

Social trading is one of the buzz words floating around the FX industry at the moment, with almost every brokerage clamoring to attract new traders by promoting the social side of trading. Many however question whether social trading is not just a gimmick aimed at attracting people to deposit money with brokerages. This view seems somewhat understandable as it appears that Social trading products are much more attractive to individuals who have less technical knowledge of Forex trading. A number of social trading networks have popped up over the last couple of years and currently the three biggest social trading networks are ZuluTrade, eToro and Tradeo. A couple of months ago, I decided to investigate the world’s biggest social trading network ZuluTrade in a bid to determine whether one could in fact make good returns from engaging in social trading.

Multi-device experience

Before we move on to analyzing the offering, broker selection, and credibility of this platform, it’s important to scan through the different options of using Zulutrade. They are extremely diverse and are superior in comparison to any other social trading network or broker. The easiest thing is to log on to the online platform at zulutrade.com, through PC, tablet or mobile, and sign up and register there.

From there you will have a variety of options to log into your Zulutrade account, perform desired actions, and inspects your trades and the market: Zulutrade is also downloadable as a widget to your PC or mobile phone. Zulutrade’s app can be found on Apple’s App Store for iphone or ipad users, as well as on Google Play (named Android App + Widget), and even Windows phone, Amazon kindle and Blackberry have their own tailored apps.

The Experiment and Zulutrade Review

To determine whether social trading is a viable trading option, I began an experiment using a ZuluTrade demo account. ZuluTrade demo accounts use the feed of AAAFx the official brokerage owned by ZuluTrade’s parent company. So in theory an experiment using a ZuluTrade demo account should accurately model performance provided a trader chooses to deposit with AAAFx and not one of the numerous other brokerages supported by ZuluTrade. I opted for a demo account balance of £5,000 as this seems to be the upper limit most retail investors will have available to them.

ZuluTrade Strategy:

The next step was to pick the signal providers, ZuluTrade provides its users with ample statistics and information regarding the various signal providers active on the site. The only gripe with ZuluTrade in this regards is that the ZuluTrade ranking system doesn’t do a particularly great job of placing the very best traders at the top of the rankings. However, if one is willing to trawl through the ample information offered regarding the various signal providers it appears possible to pick out a number of good signal providers. This makes operating a ZuluTrade account more akin to being a fund manager than a trader as practically all the tough decision making regarding opening and closing positions is taken out of your hands.

ZuluTrade back test performance

I proceeded to pick the four traders who appeared the most promisng according to my analysis. After having done this I ran a back test and according to ZuluTrade UK if I had placed £5,000 with these four traders back in 2020 by now in 2020 my account would have grown to a very impressive £10,000. Such a return far exceeds what you would expect to get from many alternative investments.

I set my self the following rules for the experiment:

  • After picking the Signal Providers, I would not change my choices.
  • After setting up the initial risk settings, I would not alter the settings throughout the experiment.
  • I would not manually close any of the signal providers positions, even if the positions were heavily in the red.

I implemented these rules to determine whether one could make a good return with minimal management of their account. It is often claimed that ZuluTrade allows inexperienced individuals to make significant returns provided they pick the right signal providers, and I wanted to put this claim fully to the test.

The Results

  • After 14 days, the £5,000 account was up by £250. A very impressive 5% return.
  • After 21 days, the £5,000 account was up by £458. A very impressive 9.16% return.
  • At the end of the month, the account was up by £480. For a total return of 9.6%.

Analysis of the results – My UK Client Review of Zulutrade

On the face of it, these results appear exceedingly impressive, achieving a near 10% in a month is not something to scoff at. So it does appear at least possible to make some pretty good returns from simply following the correct signal providers on ZuluTrade. However, it is not really quite as simply as it would appear and I have a number of concerns regarding whether such results could be repeated.

My Strategy Concerns

  • In the particular month I run my experiment. Two of the signal providers chosen by me put in astonishing performances and were among the best performing signal provided that month. It appears that I may have been very lucky in my experiment.
  • The other two signal providers performed significantly worth. One contributed a mere £18 of profit by the months end, while the other signal provider had made a small but significant loss. This shows that while you can make money from ZuluTrade there is certainly a high degree of risk involved.
  • I spent a rather long time picking my Signal providers and despite this fact. I only managed to pick two Signal Providers who provided me with strong performances. It seems likely that unless someone is willing to considerable research in deciding which Signal Providers to pick, ZuluTrade might not be for you.

Conclusion

It is certainly possible to make decent returns from ZuluTrade. However, using the ZuluTrade platform also involves significant risks and could lead to some incurring significant losses. As with all forms of trading, social trading involves significant risk. I would suggest that those who are interested in trying out social trading at ZuluTrade first open a demo account. If users are significantly impressed by the platform and it’s signal providers during the demo period, they should cautiously consider opening a real money account. While remembering not to risk money they can’t afford to lose.

Final notes: I have not used the mobile site (http://m.zulutrade.com/) or the mobile zulutrade app, but have tested both and they perform as expected of them.

ZuluTrade Strategy: The Five Factors To Consider When Picking a Brokerage

  1. Spreads.
  2. Slippage.
  3. Commission.
  4. Regulation.
  5. Reputation.

1. Spreads

Spreads are one of the costs of trading and the different brokerages who support ZuluTrade offer a wide range of spreads. Even a difference of 1 pip in spreads can be very substantial over the course of the year. When comparing ECN brokerages make sure to include commissions as this can significantly increase a traders transaction costs.

2. Slippage

Use the above charts, to help compare slippage

Many traders complain of significant levels of slippage when using the ZuluTrade platform, this is due to the fact that the platform has to communicate with the brokerage who then places the trade. Depending on the latency between a brokerage and ZuluTrade slippage can be quite significant, working out which brokerage suffers from the least slippage is more difficult. There is no easy way to compare slippage on the platform, though each trader has a slippage tab where you can see the average rates of slippage experienced by the traders followers broken down by brokerage. If you are considering a particular brokerage it would be useful to look at some of these charts and see how that particular brokerage performs.

3. Commission

Many brokerages who support the ZuluTrade platform charge their users a commission to help support the costs of integration with the platform. Again commission varies significantly from broker to broker with some brokerages charging quite significant amounts of commission. These commissions can really eat into your profits which means choosing a brokerage with low spreads and a low rate of commission can be vital to ZuluTrade success. Thankfully when picking a brokerage ZuluTrade clear displays the amount of comission charged via a sliding tab allowing for a direct comparison between brokerages. Below we have created a table displaying the 10 brokerages charging the lowest rates of commission.

4. Regulation

Here at the Fx View, we always recommend doing business with regulated brokerages as this gives you a certain level of protection and often insurance against brokerage collapse etc. While the majority of the brokerages on ZuluTrade are regulated either in the European Union.

5. Reputation

Just as you would with any other product or service, make sure you check out a brokerages reputation before depositing. You can do this by searching out honest and unbiased reviews of the brokerage online, as well as asking around in trading communities and elsewhere. There are a number of high caliber brokerages available to those who want to use the ZuluTrade brokerage, so traders would be well served getting the opinions of others regarding which brokerage would suit there needs the best.

By taking the above factors in consideration when picking a brokerage to use ZuluTrade with, customers will maximize their chances of success.
Our Top ZuluTrade Broker:

Does ZuluTrade work?

Many people are interested in whether such social trading networks actually work. Well the answer to this question really depends on the choices you make work out. If you make well thought out choices and these performers continue to perform well then there is a good chance you will make some quite significant returns using the ZuluTrade platform. However, there is tendency for some signal providers performances to turn sour and thus lead to their followers losing money. I do believe it is possible to make some impressive returns with the ZuluTrade platform if your choices are made in a considered and thoughtful manner. In my experiment I managed to make a 9.6% return in the space of the month. Though as with all forms of financial trading their are significant risks involved.

How much expertise do you need for ZuluTrade?

Many are attracted to social trading networks as they see it as a way to make money from trading without having to have in-depth knowledge regarding the subject. However, your going to need to know a little bit about what makes a good Forex system and what proper risk management involves in order to make proper decisions regarding which signal providers to follow and which signal providers to ignore. ZuluTrade does provide a ranking of the signal providers on their platform, however it often said that this ranking system isn’t particularly useful with it ranking some overly risking strategies towards the top of the list. This means that is strongly recommended that you do you own research before placing your hard earned cash with any highly rated signal provider.

Final Words

Review Summary

ZuluTrade is not a guaranteed get rich scheme nor should it be viewed as a quick way to get rich from Forex. What ZuluTrade is, however is the biggest broker independent social trading network, which features a number of highly successful traders who you can follow. In conclusion I would say that ZuluTrade has great potential for those interested in making money from Forex trading, however as with all forms of trading their are significant risks which individuals should be aware of before they risk their hard earned cash.

Why do brokers charge commission?

ZuluTrade charges brokerages which use the service 1 pip on each trade placed via the network. The network then uses this to pay both signal providers and affiliates; with signal providers receiving 0.4 pips for each live trade placed by a follower. If the user has been referred to the network by an affiliate the affiliate will also receive 0.4 pips for each live trade placed via the network. Meaning that ZuluTrade take between 0.2-0.6 pips per trade placed using their social trading network.

Brokerages are able to decide how much commission they can charge to the end user with some brokerages choosing not to pass on the full amount to their end users. By doing so these brokerages are ultimately sacrificing some of the mark-up they are make on their spreads, but this trade off can be worth it as the ZuluTrade service can bring significant volume to the brokerage.

You will also find some brokerages charging more than 1 pip commission for use of ZuluTrade services. In addition to paying commission to ZuluTrade, brokerages face a number of other costs when offering ZuluTrade to customers. For instance brokerages will have to implement certain technological solutions to allow ZuluTrade to interface with the servers etc. In addition brokerages that operate using a market maker model may want to charge extra commission in order to make it easier to profitably make a market. These reasons are why the commission charged varies massively broker to broker.

AAAFX is the only brokerage supported by ZuluTrade which doesn’t charge the end user commission for using the ZuluTrade service, due to the fact that AAAFx is a subsidiary of ZuluTrade. The fact that AAAFx is a subsidiary of ZuluTrade means they do not need to charge any commission as they are not charged for using ZuluTrade. In addition to not charging commission, AAAFx are the only brokerage whose systems are fully integrated with the service meaning users experience some of the lowest rates of slippage with AAAFx.

List of Brokers Available Via ZuluTrade

AAAFx, FXCM, and Avatrade are the ones we know best.

Importance of Commission

Commission is one of the factors that traders should consider when picking a brokerage to use in conjunction with ZuluTrade. The amount of commission ranges quite significantly with some brokerages charging up to 3.2 pips commission per trade. With some of ZuluTrade’s top signal providers making an average of 10 pips per trade, 3.2 pips of commission can really eat into your profits or make your losses significantly worse. If you experience significant slippage you may lose several pips per trade in commission and slippage which can often be the difference between turning a profit and making a loss. Commission is just one of the factors you should consider when picking a ZuluTrade brokerage and it is important to take other factors into account including spreads, regulation and slippage. It is also important to remember that all forms of trading involve significant amounts of risk and it is important to seek independent advice if you are unsure whether social trading is for you.

ZuluTrade one of the early pioneers of social trading has announced the launch of it’s new web based trading platform, which will support the all new ZuluScripts language allowing signal providers to share their trading signals via the web based platform. At the time of writing the product was still in beta and has only been offered to those who provide signals, however the trading platform is set to be rolled out to all clients using the ZuluTrade network . In 2020 is a fully established and operational, no longer in beta!

The new platform’s ZuluScript feature will allow for traders to create scripts which can carry out trades should the scripts parameters have been met. According to those with development experience, ZuluScripts and the ZuluTrade+ platform are compatible with code from other third party platforms. This should allow for users of the ZuluTrade+ platform to run Expert Advisors (EA’s) programmed for the popular MetaTrader 4 & 5 platform. According to press from ZuluTrade, the code behind ZuluScripts is a super set of the “C” language code, which would allow the scripting language to be at least somewhat compatible with code used by other trading platforms.

With the new ZuluTrade+ platform being web based, the use of a VPS service is not necessary should one want to run their trading script 24/7, with it being possible to simply save all the settings onto ZuluTrade’s servers. This is likely to be very popular with traders who won’t be required to keep their machines running non-stop or alternatively shell out for VPS services.

ZuluTrade has released a creation guide to help clients of the company create, compile and use their own ZuluScripts trading robots. Which aims to ease individuals into the new scripting language and help them making any necessary adjustments to robots they had using on other platforms.

A Solution to the MetaQuotes Dispute?

ZuluTrade and other social trading networks made the news in 2020 when they came under fire from MetaQuotes the developer of MetaTrader 4 & 5. MetaQuotes stated that they believed that these third party products were in breach of the firms licence agreements. In recent months a number of brokerages who previously offered ZuluTrade services to their clients withdrew the product, with brokerages such as HotForex and Alpari RU discontinuing their ZuluTrade accounts.

Some have speculated that these brokerages were worried about potential action from MetaQuotes and sought to distance themselves from ZuluTrade in order to maintain healthy relationships with MetaQuotes who provide the MetaTrader 4 & 5 platforms which are so popular among their client base.

The new ZuluTrade+ platform could potentially resolve such issues allowing brokerages to partner and work with the social trading network without having to potentially breach their licensing agreement with software providers. It remains to been seen whether the brokerages which withdraw their support for ZuluTrade will return to the platform or will just continue on regardless.

Zulu Trade Alternatives?

Zulutrade is the best rated social trading platform on TheFXView.com. If you are looking for additional options, they can be located below:

Also launched back in 2008, ZipSignals are one of the pioneers in the copy trading industry. Like ZuluTrade, the copy trading service is brokerage independent which means traders can choose which brokerage to use in conjunction with the service. Traders have the option of using one the networks supported brokerages or alternatively pay for a subscription to the ZipSignals service. The fee for using your own non-supported brokerage is pretty hefty and will mean the majority of people interested in the service will likely open an account with one of the six supported brokerages.

ZipSignals allow signal providers to provide their signals via demo or real accounts, though in reality the majority of the platforms signal providers use to demo accounts to provide their signals. Many people prefer to only follow signal providers who are risking their own funds, for these people the list of eligible signal providers will be much smaller. Additionally, the search functionality is pretty tricky making it hard to properly evaluate which signal providers to follow. It also not possible to download full historic performance which prevents users doing sophisticated offline analysis of signal providers trading history.

ZipSignals is not a bad alternative to use and the service is completely free should you use one of the services supported brokerages. Unfortunately, it is difficult to properly analysis the performance of many of the platforms signal providers and users have reported average slippage of around 2 pips, which is pretty significant.

MyDigiTrade is another ZuluTrade alternative that traders may want to consider. Like ZuluTrade & ZipSignals, the MyDigiTrade service is brokerage independent meaning that traders can choose one of around 15 different brokerages to use with the copy trading service. There is no fee for using the service provided you open an account with one of the supported brokerages via the MyDigiTrade website.

The copy trading service boasts a significant number of signal providers, with many of the providers boasting some pretty impressive historic performances. The search functionality is pretty advanced allowing traders to filter out signal providers based on their particular preferences. You can also evaluate each traders prior performance in a pretty detailed manner, making it relatively easy to work out which signal provider may be worth copying. It also possible to see the full trading history of each signal provider, though there is no easy way to download this into Excel or CSV file.

MyDigiTrade is worth considering if your looking for an alternative to ZuluTrade, though it should be noted that the service doesn’t support such a wide range of brokerages and that the range of signal providers is more limited. It is possible to try out the MyDigiTrade service with a free demo account before you decide to take the dive with real money.

eToro launched back in 2008 has become the world’s largest social trading network boasting a total of 200,000 users. eToro differs quite significantly from ZuluTrade, as it provides a more complex social trading experience emphasizing connecting traders with one another rather than merely being a copy trading service. The service is not brokerage independent and all liquidity is provided by eToro themselves, something which may be off putting for those who want to use their brokerage of choice. Though one advantage of eToro is that there is no cost involved in using their Copy trading services.

The social trading network boasts a huge number of users to follow and some the networks traders have boasted impressive historic performance. Overtime the network has introduced much more complicated filtering allowing for traders to better analyse the past performance of those using the social trading platform. The platform also goes beyond just FX trading, with users being able to trade a range of Commodities, Precious Metals, Bitcoin and popular Stocks on the platform. This is something that sets eToro apart from the other services mentioned in this article.

Etoro may not be a bad choice for those looking for a social trading network where they can trade a wide range of different instruments. The social trading network also boasts a large user base and has made the network particularly easy to use for inexperienced traders. Though many aren’t fan of the relatively wide spreads and what they deem to be poor execution.

FxStat is a copy trading platform in a similar vein to ZuluTrade, and is available via a number of different FX brokerages including (FXCC, Yadix & JustForex). Additionally, it is possible for those who are using a brokerage which does not offer the platform to tap into FxStat’s copy trading network for a fee. It is recommended that those interested in the FxStat product use the product in conjunction with one of the brokerages offering the platform as part of their package, as generally this is the more cost effective option for traders.

The FxStat platform boasts a significant number of signal providers, with FxStat requiring that Signal Providers go through quite an intensive vetting process in order to be allowed to share their Signals with the platforms users. Additionally, only those trading from a real verified account are able to become a Signal Provider on the FxStat platform. This has helped ensure that the quality of signal providers remains high and avoids some of the pitfalls associated with the other networks featured in this piece.

FxStat may be a good choice for those looking for a copy trading network which tightly controls exactly who can provide signals. The only downside is that it costs around 1 pip per lot, to use the service with the majority of the companies supported brokerages and typically costs more if you want to use a brokerage who has not entered into a partnership with FxStat.

Other ZuluTrade alternatives

Unfortunately, the growth of the social/copy trading industry over the last couple of years means there is simply not enough space to cover all the alternatives to ZuluTrade in one article. But here are some of the other example you might want to consider:

  • FxCopy: Operated by the owners of Vantage FX, this social trading network allows you to copy a decent range of Signal Providers for free. Despite being operated by Vantage FX’s parent company the network can be used in conjunction with a number of different brokerages. Those wanting to become Signal Providers will only earn commission if they are with Vantage FX, Land FX, MXT and Capital Trust Markets.
  • ForexGlobes: The company is a brokerage independent social trading network, allowing traders to use a variety of different brokerages.
  • Tradency: Differs from the other services listed, as it’s more like a trading platform with social/copy trading functionality built in. The platform gives it’s users the opportunity to automatically or manually copy the trading signals of a wide variety of traders. The platform is available at number of different brokerages.

ZuluTrade Binary Options Review

Launched in 2008, ZuluTrade has become one of the largest social trading networks in terms of active traders. ZuluTrade until has focused solely on Spot FX with over 30,000 signal providers sharing their positions with users of the social trading network. In May 2020, ZuluTrade announced that it would be partnering with SpotOption to offer Binary Option copy trading, this would make ZuluTrade the first established social trading network to branch off into the Binary Options world. Non-exchanged traded Binary Options as offered by SpotOption powered Binary Option brokerages have received a lot of criticism due to many seeing them more akin to gambling. Despite this the instrument has gained a degree of popularity and this is reflected by ZuluTrade’s move into the Binary Option sphere.

How Does It Work?

ZuluTrade for Binary Options, works in a very similar fashion to the more established Spot FX product. ZuluTrade allows for individuals to sign up as Signal Providers, these Signal Providers are then paid commission based on the number of live followers they gain. Traders are able to provide Signals from a demo account or one of the supported SpotOption powered Binary Option brokerages. At the time of writing the vast majority of the top rated signal providers, where using demo accounts provided by ZuluTrade. For those providing signals from a demo account, there is the possibility to earn commission without risky any capital themselves. ZuluTrade has received a fair amount of criticism in the past for allowing those using demo accounts the ability to provide signals.

As with Forex signal providers, ZuluTrade.com Binary Options uses a proprietary algorithm to rank signal providers. The signal providers that ZuluTrade deem to offer the best signals are placed at the top of the pile, and generally tend to gain the largest followings. The ZuluTrade algorithm has also received criticism in the past for not picking out the best signal providers. Again it appears that many of the top Binary Signal providers have made huge returns but may have taken significant risks in the process or have witnessed large swings in account equity.

Using Zulutrade Binary Options is also possible via mobile through a designated app for iPhone, Android, Amazon, Windows Phone and Blackberry.

Does It Work?

ZuluTrade for Binary Options is a relatively new product, only being fully launched by the company in late 2020. This means that at the time of writing the majority of the signal providers on the service had only been active for a few weeks. Some of this Signal Providers had posted huge returns during this time frame, but during our extensive search of the signal providers using the platform we were unable to find any traders offering signals from a real money account. This is something which may put many traders off, as real account performance can often vary significantly in comparison to the kind of performance experienced when using a demo account.

In addition, we were unable to find any signal providers who had managed to attract live followers, despite the fact that many of the top providers had accrued several hundred demo account followers. This seems to suggest that many using the platform are sceptical regarding putting real money into Binary Options copy trading, until they get feedback from other users. This is perfectly understandable considering the fact that ZuluTrade are pioneers in this regard, being the first to launch fully fledged Binary Options social trading.

There is also an additional concern that may weigh on the mind of many traders. It has been suggested that copy trading is infeasible in conjunction with Binary Options. This is because for a Binary Options provider to remain profitable a majority of traders must lose, with a traders loss being equal to a brokerages profit. If a large number of traders place the same winning positions with a particular Binary broker, this presents a risk management problem which appears to have no easy solution. This might explain why only a small fraction of the 200 Binary Option brokers powered by SpotOption have made the decision to link up with ZuluTrade.

Conclusion For ZuluTrade Binary Options Review

ZuluTrade have made a bold move to expand their product offering and cater for Binary Option traders through desktop and mobile offering. There seems to be a significant demand for such a product considering the number of people who have signed up to provide signals and try the product out with demo accounts. Whether the product really takes of remains to be seen and there is really insufficient evidence to state whether Binary Options copy trading is something which is worth serious consideration.

Final Words From Us

This is the internet’s most comprehensive ZuluTrade review and guide. We hope you have enjoyed it.

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