Forex Brokers and ZuluTrade are compensated for their services through the spread between the bid/ask prices or there may be a cost to initiate a trade through the bid/ask spread. Profit sharing accounts are subject to a monthly performance fee . 54 rows · The social trading network ZuluTrade announces the addition of ActTrader .
Welcome to experience the Broker Search on a whole new level! According to Zulutrade, HotForex has 'joined' as well. What code is in the image? How to choose a Forex broker? How to become a Forex broker? Introducing broker vs White Label? Margin calls vs Stop out levels? Market vs Instant execution? New Poll How many brokers have you changed during the 1st year of Live trading?:. I stayed with my first broker.
Another way to make money from ZuluTrade is to follow some of the most successful signal subscribers. ZuluTrade not only ranks the signal providers, but they also have a ranking system for the signal subscribers as well.
Therefore by viewing the profiles of the most profitable subscribers, you can see which traders they are currently using to grow their capital. As well as providing automated forex signals, ZuluTrade now offers cryptocurrency signals as well. Therefore you can not only profit from successful forex traders, but you can also make money from those traders who specialize in trading cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple, for example.
A lot of forex companies are completely unregulated, but ZuluTrade are fully regulated in the EU and Japan as a portfolio management platform provider, which provides additional protection for investors.
In order to provide you with a balanced review, here are a few of the negative aspects of ZuluTrade:. 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.
Although there are plenty of traders that are successful in the long run, you really need to do your homework in order to find them because they are not necessarily found at the top of the rankings list due to the fact that they take fewer risks, trade less often and have smaller but more consistent profits.
Follwing on from the last point, it has to be said that many signal providers have no concept of risk management and are quite prepared to risk points just to points profit per trade, for example.
So whilst they may have some long winning runs on occasions, they will also have big blowouts when they get it wrong, which can potentially destroy your trading account if you have not set your own stop losses. The final problem with ZuluTrade is that not all of the traders on this site trade using their own money. So in other words, they are entering trades and generating signals from a demo account, but you are the one trading these signals and risking your own money because they are replicated in your own account.
ZuluTrade have made some massive improvements in recent years, and overall you have to say that this is potentially a very profitable service for both signal providers and subscribers. You cannot simply subscribe to the 10 highest ranked traders and expect to make amazing returns because many of these highly ranked providers will crash and burn at some point, and incur huge losses in the process because they are using risky strategies. Ideally you want to find those providers that are making steady profits month after month without taking crazy risks.
You want to avoid those traders who look to make small profits from each trade, but use really wide stop losses, because these are doomed to failure in the long run.
An alternative strategy is to reverse trade some of these traders, or scan through the site to find the worst traders you can in order to generate some decent returns if and when they start losing money. Anyway if you would like to sign up to ZuluTrade and give it a try, you can either open a live trading account or practice on a free demo account using pretend money.
Here are the sign-up links:. If you fund in another currency this will be converted straight away into one of these currencies, depending on the one you chose when you opened your account. Most investors like to keep their account and in their own base currency e. GBP for UK residents. Some of their other supported brokers offer a further choice of currencies as well. It is not in the remit of this ZuluTrade review to review and compare every single broker they work with.
AAAfx is an obvious choice for many people because of their close integration and 0 commission costs. You can have a look in the ZuluTrade Forum as well, and perhaps ask people to recommend one for the country you live in.
Share your strategy with hundreds of traders from around the world and follow their trading in real time.
What was FxPro SuperTrader? Other functions that can be performed with the Trade Tab are as follows:.