- Very good platform and interface
- Lots of traders to copy
- Excellent risk management for both experienced and inexperienced investors
- Free full featured demo account
- Very low fees and minimum slippage on their own broker (AAAFx)
- No integrated broker
- Trader compensation model not the best for investors
ZuluTrade offers a free 30-day Demo account with virtually all the features of a live account. Signing up is quick and easy and, whilst 30 days might be a bit short, the demo account should get you comfortable with the platform.
Unlike many of the more integrated social trading networks, ZuluTrade supports over 40 brokers, one of which being their own integrated solution (AAAFx). Signing up via a broker does make the process that bit more cumbersome, however it also allows investors with existing brokerage accounts to easily link a new account via their existing broker.
Another great feature when signing up to ZuluTrade is the ability to filter brokers based on minimum deposit, mobile support etc. allowing investors to quickly find the best broker for them.
ZuluTrade also recently added login via Facebook, which is really convenient for those who regularly log in to check their account.
Platform Features & Usability
The ZuluTrade copy platform is full featured to say the least and generally works without a glitch. The platform is very intuitive and searching for the best traders (Signal Providers) to follow is easy thanks to the multitude of filters hidden in the advanced section.
ZuluTrade also provides a very useful portfolio simulator to help diversify and optimise your portfolio based on selected traders’ past performance. The simulator shows overall profit, alerts you if a margin call occurred and even allows you to download a spreadsheet of all the simulated trades.
Furthermore, the ZuluTrade platform includes some very good charts, a comprehensive and easy to understand financial calendar, an easy to use manual trading interface and a very comprehensive account history.
The continually improved ZuluTrade platform really stands out for it’s features and ease of use, and in our opinion might be the only platform to suit both experienced and inexperienced investors alike.
ZuluTrade is free to join and you only pay the spread on trades. That said, the spread can vary massively as it’s completely dependant on the broker being used.
Some brokers will also charge an additional commission on top of the spread, so careful consideration should be given when choosing a broker.
In our experience, ZuluTrade’s own integrated broker, AAAFx, consistently charges the lowest spreads and is commision free making AAAFx the obvious broker choice when using ZuluTrade.
*This score assumes the use of AAAFx.
Traders & Social Community
ZuluTrade currently offer in the region of 30,000 Signal Providers, but also allows investors to copy other investors’ portfolios, meaning the number of potential traders to follow is more in the region of 100,000.
The top performers on ZuluTrade do very well, but the ranking system seldom sees the same traders at the top long. One of our main gripes with ZuluTrade is the way traders (Signal Providers) are compensated. Traders are only paid for profitable months and these profits are calculated on closed trades only and not unrealised profit (open trades), which can lead to traders not closing closings positions in fear of ending the month without a profit.
ZuluTrade does not integrate with any social media networks, apart from signing in to your account, but the community is very active and investors are encouraged to communicate with traders. Investors/followers can also leave ratings and reviews on traders’ profiles, although these mostly tend to come from inexperienced investors having unrealistic expectations and as a result is often overly negative.
These settings include everything from manual stops, limits, max open trades and even slippage, and work with the portfolio simulator to help you fine tune them.
The ZuluTrade website offers some mediocre support guides (compared to the likes of eToro), but the forum is very active and most topics not covered in the support guides are discussed and answered on there.
As for direct support, ZuluTrade offers both email support and live chat with very helpful and knowledgeable advisors 24hrs a day, 7 days a week and also has local phone support in a number of countries.
Being linked to 3rd party broker accounts, ZuluTrade does not handle any withdrawals, but does link through to the specific withdrawal section of each broker’s website, which is a nice touch.