ZuluTrade is a one-of-a-kind social trading platform that brings together over 15,000 professional traders from around the world. ZuluTrade acts as a broker between brokers and signal providers and allows you to copy transactions (or invest money) into successful managers.

The principle of working with ZuluTrade is as follows:

  • on the ZuluTrade website you need to register. There is a demo account for testing the site;
  • from the list of partners of the site (there are more than 20), choose a broker and open a trading account with him;
  • A trading account is associated with a personal account opened with ZuluTrade.

Next, subscribe to auto signals from the selected provider and earn if they were correct. There is the possibility of autotrading, and opening a position after confirmation by the trader.

ZuluTrade is often compared to MyFxBook. These sites really have a lot in common – they bring together traders and provide information about strategy, profits, drawdown, etc., that is, they show the history of trading. But MyFxBook has a better built account verification system, since the task of the service is to be an independent platform, a symbol of reliable trading. ZuluTrade is a platform for auto-copying signals.

ZuluTrade: simple earnings or a way to lose a deposit?

The trick to the transaction copying system is that the signal provider does not profit from the trader’s profit, but from the spread. ZuluTrade has more spread than the broker, and it is him, minus the broker’s spread, that the platform and the manager divide the commission. The minus of the system is that the signal provider doesn’t care how much a trader earns, he only needs to show a profit.

ZuluTrade Terms of Use:

  • Do not focus on the profitability of the manager. One of the drawbacks of the site is poor control over the integrity of managers. To get into the ratings of the site, it is enough to show a high yield, efficiency and risks the platform does not take into account. Therefore, first of all, evaluate the risks, analyze the equity and be sure to ask the manager for the link to MyFxBook;
  • evaluate the manager’s strategy. More than half of the rating managers work either according to the Martingale strategy or do not correspond to reality. ZuluTrade is a popular platform, because brokers with its help attract customers by “drawing” profitable trading;
  • when copying signals, the platform and the broker should be the same for you and the trader. ZuluTrade website has statistics on slippage in points for each broker. Each broker also has its own supplier of quotes, which are slightly, but different from each other. Different platforms may have different response rates. These are the three main reasons why opening a position for you will not match the position of the signal provider.

Summary. The popularity of ZuluTrade speaks for itself, but there are a lot of negative reviews about the site. There is no guarantee that a profitable provider is not a robot or does not work with a demo account. Since ZuluTrade is not responsible for managers, the risks are fully borne by the investor. You can earn on ZuluTrade, but you should be very careful and choose liquidity providers, double-checking the strategy. And if you do not want to rely on chance, and are going to create your own adviser, read our article on how to do it.

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