ZuluTrade Review at a Glance
If you do not have extra capital you may be willing to lose, you should not trade in the forex market. It has never been proven that there is any system or portfolio of systems that is completely safe and no one can insure future profits or losses. Before you start trading in the forex market you should think carefully about your goals as an investor, your level as an investor and your risk aversion to determine if this is the type of investment you want to make.
If you are in doubt you should seek advice from a professional financial advisor to advise you about the investment. Home Copy Trading Contact. Best Social Trading Platforms created by Brokers. Best Social Trading platforms created by brokers. Social Trading Brokers. Start for Free. Remember that you have all the information about copy trading in our sections: Social Trading Platforms : Information of each of the platforms of copy trading. Go to Platforms Guides : The best guides on copy trading. Go to Guides Reviews : Best reviews on copy trading platforms.
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We do not spam. Choose a Platform. However a portfolio of good signal providers can be of great help to a trader, especially if he is just starting. Continue reading ZuluTrade review to find out how to get started!
ZuluTrade Review Pros, Cons & Ratings - Trading Brokers
That are a lot of brokers that support and offer this platform, but their preferred broker is AAAfx which is based in Greece. In addition, there are over 50 supported brokers that allow having an account in a variety of currencies. The performance of an account at different brokers will vary, because there are multiple spreads and commissions. However this platform records and shows information about average slippage, so that a trader will know exactly which broker is the most trustworthy.
This information is provided for every broker and for every signal provider. The main factor that causes slippage is not the platform, but it can be the broker or signal providers that trade on the short term in volatile markets. ZuluTrader allows for customization when it comes to copying the trades of signal provides. In addition to setting the amount to trade, the stop loss as well as take profit levels can be customized.
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It is also possible to see how these settings would have fared by using the backtest tool to apply them to historical data. This can determine him to adjust his positions in order to minimize this indicator. In addition to this, a trader must also know money management principles in order to be successful on this platform.
It is easy to go wrong by relying too much on one signal provider who changes his strategy. There are also new features that are added, such as a tool for the maximum loss a trader is willing to take from following a signal provider.
When this level is reached, all the open trades are closed. In order for a trader to know his online performance, ZuluTrade can also send daily and weekly e-mails that are informative. An e-mail is sent when the activity of a signal provider changes. There is also a ZuluGuard feature so that trades can be automatically closed if a certain type of activity is detected, such opening more than a certain number of trades or losing a certain amount of money.
The interface is easy to use and intuitive. The platform works on mobile and tablet devices and those versions offer a reasonable amount of functionality, since they allow traders to view their results, to copy trades and to close them. The number of features that these mobile versions have has been increased with every version. The platform can be integrated with social networks, allowing the traders to post their trades there. This mainly has the effect of promoting the platform in order to reach a large number of people.
The user guides are simplistic and just explain the functionality of the platform. AvaTrade also offers a range of tools to help improve your trading and the success rate such as news feeds and charts.
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AvaTrade offers a demo account to kick-start your trading career and improve your trading before investing any money. This way you can get a hold of the assets, develop a strategy and employ analysis tools. Why would any trader risk his own money if he does not have to. The main problem with ZuluTrade is that although there are more than , signal providers on this site, it is quite hard to find traders who consistently make money month after month.
As well as providing automated forex signals, ZuluTrade now offers cryptocurrency signals as well. ZuluTrade essentially provides you with your own managed forex account where you are in complete control. However, unlike ZuluTrade, you will only find one broker available, eToro. This means that you will not find that eToro has proportionate transactions since there are no competitions between brokers. The Classic Account, or model, offers you the option of getting paid 0. The pip cost correlated to the currency pair traded, the type of trading account of the signal provider, and other different factors.
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As a US trader, ZuluTrade will financially compensate you through a flexible monthly membership fee, but Japanese residents will not be able to generate profit because of local restrictions. ZuluTrade tackles both novice traders and experienced traders, meaning that it is welcome for everyone.
Experienced traders will be able to offer their expertise and trading knowledge for followers to duplicate. As for novice traders, they will be able to learn through a hands-on approach about the way financial markets and trading works.
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Signal providers are traders with extensive trading knowledge and an impressive trading track record.