The world’s top multi-broker, social, and copy-trading platform is ZuluTrade. Copy top traders in Forex, indices, commodities, stocks, and cryptocurrencies to invest in!
The first and best-known social wealth management platform is ZuluTrade. In essence, it enables investors to Metatrader copy trading and follow the deals of experienced traders in the foreign exchange and capital industry. But the social component also makes it possible for investors and traders to offer comments and exchange ideas. Today, it carries out trades worth more than $800 billion and claims almost two million members. This ZuluTrade review will explain how it functions: costs, real-world accounts, customer testimonials, rules, and more.
Initial Payment Requirement
Various brokers have different minimum deposits. ZuluTrade’s broker selection includes some with minimum deposits as low as $1, while others may need deposits of $300, £210, €250, 25,000 JPY, or AUD 300.
To continue using the site, users must maintain a balance in their ZuluTrade accounts of at least $100.
Indicators & Commissions
The client’s trading volume is a major factor in broker commission. Some brokerage firms may impose additional fees or widen spreads when a deal is placed.
The spread, the distinction between the buy and sell prices, varies between brokers. The time of day and the currency combination can also affect the spread. For instance, during times of high volatility, brokers frequently widen spreads.
Leverage
Leverage can be employed to improve income potential, as most people are aware. However, you should know that trading with leverage might exaggerate losses and expose you to margin calls before creating an account. Legacy fx review says forex is the one of the best platform for the trading purpose.
The smaller the used margin, which often translates to an increase in the free margin and profitability level, the higher the leverage, such as 1:1000. With a large drop, your account may reach a stop-out level as a result of overtrading. So, a leverage ratio of 1:100 is frequently advised to reduce risk. However, it’s crucial to remember that the chosen broker will decide on the maximum leverage.
Additional Trading Fees
There may be additional fees, so you should be notified before creating an account and logging in to ZuluTrade. Your broker might charge an overnight rollover/swap fee, for instance. Depending on the exchange rate you are trading, the amount will vary. Although these expenses can reduce profits over a long period, they shouldn’t frequently apply to intraday traders.
There aren’t any further fees besides that. According to information on the company’s website, the traders you imitate are paid directly by ZuluTrade as part of the commission. It’s also important to note that occasionally if you visit their website, you might find deals and bonuses for deposits.
Trading Environment
How it works
The ZuluTrade trading platform works with brokers who offer to trade for shares, cryptocurrencies, foreign exchange, commodities like oil, and indices, like the NASDAQ. Then, using the platform, you can copy the trading methods of successful traders. For those who are curious about how it operates, there are essentially two types of users:
Traders – These are typically traders who are open to sharing and having investors copy them. The trading lot size affects the compensation costs charged.
Investors – These people can duplicate trading tactics.
Is it possible to profit from copy trading on ZuluTrade?
To maximize the likelihood of successful trading, it is recommended to create a portfolio of subscriptions to several traders and to use ZuluGuard to define risk management and capital protection settings.
The Pros and Cons of mimicking traders on ZuluTrade
The well-designed trader profiles and data, as well as the platform’s additional advisors on automation and risk management, were all well welcomed by us.
Pros
Oldest and the first copy trading platform with an intuitive interface
Detailed data and functions are provided for its comparison.
70+ options for online brokers
Regulation in the EU by the General Japan Investment Advisers Association (2014 – No. 1058 Member Associations) and the Hellenic Capital Market Commission (HCMC).
ZuluTrade Automator and ZuluGuard provide services for automation and risk management. Forex is the platform which provides the facility of connecting with other platforms according to the legacy fx review.
Over 90k traders from various nations are available for investors to pick from.
facilitating communication and trade discussion amongst traders
Cons
Blog and forum updates are infrequent.
Modern filters are useless.