Clicky

Opening A Trading Account At ZuluTrade Forex Brokers For Automated Trading

zulutrade logoZuluTrade is one of the very first mainstream social trading networks and was designed as an open platform for sharing trading signals, which also enabled investors to copy different trading strategies from some of the most successful Forex traders in the market. ZuluTrade should indeed be attributed as the pioneers in the industry for developing the advanced mirror trading platform that was revolutionary in nature, which helped the company to garner the largest numbers of traders and signal providers that use the ZuluTrade platform. Up until recently, ZuluTrade enabled its traders to sign up for a ZuluTrade account through a large number of Forex brokers, but a new policy from MetaQuotes, the leading platform service provider, saw the number of supported ZuluTrade Forex brokers diminish to just under 50. MetaTrader is indeed considered to be the most popular and widely adopted trading platforms, and MetaQuotes enjoys a huge market share regarding accepted brokers and the retail trading market. MetaTrader has come up with its signal service system that aims to compete directly with the ZuluTrade platform, which is one of the primary reasons why MetaQuotes has instructed its licensed brokers to cease accepting any more clients through the ZuluTrade platform. Regardless of the reduced presence, ZuluTrade is indeed a fantastic platform that allows traders to browse through different successful trader portfolios and choose a profitable trading strategy that suits their preferences.

Recommended Top Forex Brokers

* Not valid for EU traders, T&Cs apply

Recommended Top Forex Brokers

* Not valid for EU traders, T&Cs apply

How Does ZuluTrade Work?

ZuluTrade is an entirely web-based platform that allows traders to open a trading account through the ZuluTrade server network. Supported brokers allow their clients to connect their trading platforms directly to the ZuluTrade online platform, which creates a foundation for traders to browse through different trading strategies and follow a trading system that conforms to their risk appetite. ZuluTrade is an automated social trading system that does not require any coding or programming knowledge. Therefore, ZuluTrade works in the background and does not need the trading terminal to be switched on during an entire trading session. ZuluTrade offers traders with multiple customization options that enable traders to set up their automated trading platform according to their trading preferences. Although existing trading systems have a pre-built strategy, traders are free to modify them for their social trading accounts and can specify numerous changes to the trading conditions that will help traders to have more control over their investments. ZuluTrade platforms also allow traders to use a combination of trading strategies by adopting both mirror trading as well as manual trading, which renders more flexibility and freedom for trading. However, traders that prefer mirror trading alone can indeed set up their trading accounts and leave it on the automated process without the need for any manual intervention. ZuluTrade also provides a highly lucrative proposition for successful traders to earn extra money by selling their trading strategies through the ZuluTrade platform. ZuluTrade offers many money making opportunities that allow professional traders to sell multiple trading products in return for a performance fee, which can help traders to earn anywhere from $100 to a million dollars per month. For the right trader, ZuluTrade is certainly an attractive income opportunity, especially if they can deliver consistent results that guarantee high returns with a negligible drawdown.

ZuluTrade Forex Brokers’ Target Audience

ZuluTrade is aimed at all types of Forex traders that wish to generate consistent profits through trading. It ‘s hard for a majority of traders to make money, which is why most Forex traders keep searching for the Holy Grail to make it big in the markets. On the contrary, ZuluTrade offers a platform that allows investors to count on the proven performances of successful traders and provides an opportunity for the entire trading community to follow successful trading strategies that can earn a sizeable income from the Forex markets. ZuluTrade is not to be confused as a profit generating machine, as the platform has several advantages as well as drawbacks. Although mirror trading allows traders to copy from profitable trading systems, the ultimate profit of an account depends on a lot of factors that include leverage, lot size, account equity, and trader psychology. Hence, even if ZuluTrade promises to offer you a chance to generate profits in the market, other factors such as trading system performance, market volatility, and other factors may play an integral role in deciding the success that one can enjoy in the retail trading market.

Is ZuluTrade A Paid Service?

ZuluTrade is a free platform that allows traders and investors to set up an account for free. ZuluTrade works on a profit sharing model that enables professional traders to earn money from the number of followers that have adopted their trading system. Mirror trading is essentially a copy trade platform that allows investors to choose a trading strategy in return for a performance-oriented fee. The fees charged for copying a trading system vary between pips, percentages, or commissions, and can be predetermined by the signals service provider. According to the official ZuluTrade website, traders can earn up to 0.5 pips on each trade according to the number of active followers, which amounts up to $5 per $100K traded on the markets. Therefore, if a trader manages to acquire more live followers, the income potential rises exponentially.

Some Rules Of Caution While Choosing ZuluTrade

ZuluTrade is certainly an incredible platform for collaborating with established traders; nevertheless, traders should be careful while investing their hard-earned money with ZuluTrade brokers. Traders should not blindly trust the performance numbers provided on the website, and it is the duty of the follower to demo trade a trading system before moving on to a live trading account. Some of the highly profitable trading systems on ZuluTrade are developed using a demo platform, which does not necessarily translate to profits under live market conditions. Some traders are also known to keep their losing positions open while closing profitable positions to show a positive performance. Be cautious against traders that misrepresent the facts of their trading.

How To Increase Your Profit Potential With ZuluTrade Forex brokers

ZuluTrade offers several innovative features that are considered to be more advanced than the features offered by their competition. ZuluTrade offers the convenience of browsing through various statistics of a trader’s trading history, which allows investors to calculate the profit potential and risk-appetite before choosing to follow a trading system. ZuluTrade offers a reverse trading tool to benefit from the strategies adopted by traders who lose consistently in the markets. The reverse trading system helps traders to take advantage of such a system by utilizing a reverse trading psychology that allows investors to open trades in the opposite direction of a failing system. After all, there are several innovative ways by which a trader can profit using a ZuluTrade system, but investors should always exercise restraint while investing in the highly volatile Forex market.