Founded in 2007 Zulu Trade was created so that traders can share their knowledge with others. Zulu Trade is considered a Forex auto trading platform. It allows traders to automatically copy the trades of others, into their own trading platform. The aim of Zulu Trade is to close the knowledge gap between novices, and professionals. It allows interaction between the two and the wider community of traders. Traders all over the world communicate in a more social environment. Traders are known as ‘signal providers.’
- Followers can copy the strategy of any trader in order to learn.
- Traders can earn money, when someone else uses their strategy.
- Zulu Trade analyzes the activity of its traders, to build a profile on them. Areas such as log in activity, strategy and age are considered.
- Once an account is set up it will follow the market and traders you have connected with.
- An economic calendar, Forex tools such as pip, margin, profit and currency calculators are also included.
What Platforms Are Used?
The platform uses a MT4 trading station. There is also what they call a cross platform application. You can monitor your account from a number of devices. iPhone, tablet or PC for example. You can trade Forex, Stocks, Indices, Commodities, and binary options. There is also a mobile application available that is suitable for IOS, Android, Kindle Fire, Windows and Blackberry.
How Does It Work?
Accounts can be opened for professionals, or those who want to demonstrate their strategy and proven ways of working. There is also an option for those who want to trade “in their sleep,” activity is carried out automatically on their behalf.
Traders will use the platform to create trades using a demo or live account. Zulu Trade publishes their results, that are then available for others to view. If a particular trader is offering a lot of profitable trades others can and probably will add them as a ‘Signal Provider’ to follow. There are around 100,000 trades across 192 countries.
There is only one account with Zulu Trade, the minimum deposit is $500.00.
What Security Is In Place?
Zulu Guard will protect against ‘bad traders’ or ‘bad behavior or activity.’ It will automatically remove traders with this history, if detected. You do also have the option to set the monitoring to your own preference.
On December 12th, 2014 Zulu Trade made some changes to increase their security. The changes were due to and in accordance with EU legislation. They aimed to increase each investor’s protection and reduce risks. From this date EU residents can only view or follow the top 1,000 traders. The traders need to meet the following criteria:
- Maximum drawn is less than 30%.
- Average pips per trade profit must be more than three pips.
- Trader must have sent signals and traded for at least twelve weeks.
This has led to an increase in traders wanting to meet the criteria, many traders wish to be visible to all customers in the EU.
Multi language live chat is available at Zulu Trade twenty four hours a day, seven days a week. Email and phone support is available in ten different countries, as well as a twenty four hour hotline. The website can be assessed in over twenty five different languages. You can also use an online form to contact customer support.
Zulu Trader Pros
There is potential to learn a lot as a trader, you could also keep track of who the key players are in trading. This is a good starting place for the novice trader. There is a trader’s forum and demo videos to help guide users along the way. It is open to use for everyone, so anyone can try their hand at becoming a trader. In addition to this there are also these benefits:
- Free demo account you can sign up without investing money.
- Wide choice of traders (‘signal providers’) to follow and copy.
- Variety of traders in different countries.
- Data is fully available with all historical trades carried out.
- Good mobile apps
Zulu Trade Cons
- You may find that there are some poor and inconsistent traders that you follow.
- Those that you follow are not required to trade using their own money, this can mean that their judgement may not be as focused as if it was their own investment.
- You will need play great attention to activity, until the right mix of traders you wish to follow are found.
Overall, this is a user friendly platform with a difference. There is a focus on education and learning from professionals. It also allows professionals to mentor and help other novice traders, and be rewarded for it. The only disadvantage is that there is only one type of account.