Best Zulutrade Forex Brokers 2018
In this article, you will learn about the very interesting forex trading software known as Zulutrade. We look into the forex brokers offering Zulutrade forex brokers, and help you choose the right one for you based on our in-depth research into the relevant brokers.
|BROKER||USER RATING||REGULATED BY||HEADQUARTERS||MIN. DEPOSIT||OFFICIAL SITE|
|ASiC, FCA, MAS||United Kingdom||$100||Open Account|
Your capital is at risk
|BaFin, FCA||United Kingdom||$50||Open Account|
Your capital is at risk
|FSA||Saint Vincent and the Grenadines||$0||Open Account|
Your Capital is at Risk
|CySEC, MiFID||Cyprus||$250||Open Account|
Your capital is at risk
What is Zulutrade?
In short, Zulutrade is an online social and copy trading platform for the forex market. The main idea of the system is to allow its users to copy the trades of more experienced traders on the forex market. The platform consists of two types of users; signal providers and followers. The followers mimic the trades of the signal providers (traders) they follow. In return, the followed signal providers (traders) gain popularity and earn compensation for their success and popularity. Anyone using the platform can copy or be copied. This allows for a dynamic and communicative platform offering insights and opportunity with new investment strategies.
Not only can users copy successful traders, but they can copy automated trading robots as well. People who are knowledgeable about auto trading can develop bots for people to copy. This method, along with the method of copying manual trades is all automatic on the followers’ part.
Pros and Cons of Zulutrade
Zulutrade is an intricate trading platform providing insight into other traders’ strategies and the chance to profit from them. With a platform as unique and elaborate as this, there will be a variety of advantages and disadvantages. See what defines this platform in the pros and cons listed below.
- Provides forex traders with an incredible amount of insight into the movements and strategies of other traders. In doing this it allows both parties (the followers and traders) to profit.
- An active social aspect with forums, commenting, and profiles is widely used in the platform. This creates an engaged and active community with a steady flow of knowledge and information.
- Has a clean interface design and operating system which allows everything to be easily understood.
- Requires a low entry fee of only $300. This is much lower than many other platforms.
- There is no guarantee that the traders you follow will be successful. Anyone can become a signal provider, and it’s up to the trader to perform in depth research into who they should copy.
- In addition to the first point, some signal providers may or may not use their own money to trade. For this reason, you want to keep a close eye on the actions of the traders you follow, until you find the right ones- this comes with experience.
- There can be many inexperienced poor-quality traders using the network. These traders must be avoided, even if they have a hot streak and are doing well.
Why should I choose a Zulutrade forex broker?
You can use Zulutrade without a forex broker while demoing the platform, but once you want to trade with real money you are required to have a Zulutrade forex broker. Zulutrade offers a variety of top tier brokers regulated from all over the world. The trading platform itself has its very own broker- AAAFX. Using this broker is the easiest option to get setup and running. AAAFX does not charge a commission like other brokers, thus generally being the cheapest broker to go through. It is also the most widely used broker.
How to choose a Zulutrade broker?
There are many factors to consider when choosing a Zulutrade forex broker. Below are some of the key things to look out for:
- Does the broker offer mobile applications? Zulutrade is an online mobile platform, so mobile accessibility can be useful when trading with Zulutrade.
- As always, it’s important to know what country the regulation is from and if it covers your area of residence.
- The commissions and fees involved. Zulutrade already has a commission of 1 pip, so you want a forex broker with low additional commissions if any at all.
- Level of customer support, and what languages they offer.
Zulutrade is a very interesting platform with a lot of potential to make quality contacts, learn new investment strategies, and add some excitement to the world of forex trading. There are many benefits to trading on this platform, but can be some cons if you are not informative and careful with your decisions. Below you will find our list of the very best forex brokers that offer Zulutrade as part of their package.
- New Zealand
- South Africa
- Hong Kong
- United Arab Emirates