ZuluTrade Review - Do ZuluTrade Copy Trading Signals Really Work?

Would you like to find out more about the ZuluTrade Copy Trading Signals platform and whether or not you can really trust your money with them? ZuluTrade Copy Trading Signals is a social trading network and platform that connects you with 1'000s of traders (also called ‘signal providers’) around the world. Instead of studying the market and trading yourself, you select the signal providers you’d like to follow instead. The ZuluTrade Copy Trading Signals platform will then convert their advice and trades directly from your own account (with one of their supported brokers or their own AAAfx broker).

At any time, you can close trades that are opened in your account by these traders manually yourself. In the ZuluTrade Copy Trading Signals interface, you can also set limits on what trades you like to take at the account level (e.g. only EUR/USD trades) or at the signal provider level (e.g. no more than 5 open trades at any time).

Who Can Join ZuluTrade Copy Trading Signals?

More than any other social trading network and auto-trading platform, the ZuluTrade Copy Trading Signals platform is “open” and accessible to everyone. For you (the trader) this is great. There’s a free fully functioning demo and you can start trading with “real money” from as little as $300, £210, 250 Euro, 25,000 JPY or 300 AUD. The sign-up procedure is really easy and straight-forward. However, ZuluTrade openness also means everyone can become a Signal Provider. Signal Providers do not necessarily trade with their own money (they can send signals from demo accounts) and their profiles are not formally vetted by Zulu Trade (i.e. if they say they traded professionally for ten years, it’s their word and nothing more).

While initially, ZuluTrade Copy Trading Signals was pretty much a pure social forex trading network, since they added CFDs in 2015, more signal providers now also trade indices, gold, silver and commodities in addition to forex currency pairs. And in addition to Forex/CFD traders, ZuluTrade Copy Trading Signals added binary options to their platform in 2015, but they had discontinued them in 2017 before ESMA at 2018, ban distribution or sale of binary options to retail clients. So now you can choose to trade by yourself or copy other traders in either forex or binary options mode. Have you heard of cryptocurrencies? ZuluTrade Copy Trading Signals allows you to profit from that too...

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The amount of “forex traders” to follow and copy is massive (> 10,000), though ZuluTrade Copy Trading Signals does provide you with an advanced search engine that allows traders to slice and dice through that list against your preferences; e.g. only show traders with over 52 weeks history, who trade their own money and have a drawdown of less than 20%. They also have a performance table in which they rank all “traders”. Until last year, they had been ranking traders using a proprietary algorithm, “ZuluRank”. While this did improve over time, we saw a couple of traders make an appearance in the top 5 in one month (and significantly increase its number of “live” followers) just to make a large loss and drop out the top ZuluTrade Copy Trading Signals rankings the next month. Now the default ranking is by “Live Followers Profit” which seems more relevant and fairer (btw, you can rank on other performance indicators too).

How Do You Know Which Traders You Should Copy On ZuluTrade Copy Trading Signals?

For each “trader/signal provider” traders can view a good range of performance indicators and graphs to help you evaluate the traders that you want to copy. What’s important here to mention is that the ZuluTrade Copy Trading Signals platform is totally transparent, since they share every single trade a trader has done in the past and you can download all the historical trades in Excel as well, allowing members to do their own proprietary analysis (in comparison, some other social trading networks only give you access to the last 50 or 100 trades).

Is ZuluTrade Brokers Risky To Use?

It used to be very easy to blow up your ZuluTrade Copy Trading Signals account by getting the settings wrong for one “trader” who may change their strategy from one day to another (and there are many stories on Forums of people who get this wrong). However, ZuluTrade Copy Trading Signals did introduce some very useful additional risk management features in December 2012 which allow you to set a maximum loss you would take in monetary terms for each “trader/signal provider” before your account automatically stops following them and closes any open trades they had in your account. This feature is now known as the ZuluGuard™ Capital protection, and it also takes into account your overall risk profile based on the short suitability questionnaire you complete when registering with ZuluTrade Copy Trading Signals.

Is There Slippage On Your Trades On ZuluTrade Copy Trading Signals?

Slippage is an important factor with forex auto-trading platforms and a key driver of this is how quick the ZuluTrade Copy Trading Signals system executes the trades from the traders or trade signals you follow in your own trading account. While some slippage does occur and on very few occasions some trades were missed, we have found this to be more a factor which relates to the broker and signal provider choice (i.e. higher slippage with scalpers because these traders look for small quick profits in volatile market conditions), rather than of the reliability or execution speed of the ZuluTrade Copy Trading Signals autotrading platform...

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