ZuluTrade Review

What is ZuluTrade?

ZuluTrade is a next-generation signal service that enables you to subscribe to more than 100,000 different signal providers, and once you subscribe to one or more of these traders, the signals that they provide will then be automatically replicated in your own trading account in real time.

This is a completely free service if you register yourself with one of ZuluTrade’s integrated or co-branded brokers. Otherwise there is a small monthly subscription fee payable to each trader that you copy.

It is essentially a win-win for all parties because signal providers can earn generous commissions from subscribers if they are consistently profitable, signal subscribers can earn decent profits if they subscribe to profitable signal providers, and ZuluTrade themselves will earn a small commission from each trade thanks to their introducing broker relationships with the various different brokers.

Click here to visit the official ZuluTrade website

How it Works

To give you an idea of how you can potentially make huge returns from ZuluTrade (as a subscriber/copier), here is a step-by-step breakdown of how it works:

1. Open a live trading account with ZuluTrade and choose a broker.
2. Deposit some trading capital
3. Analyze trading records and performance data to find the most profitable traders
4. Subscribe to your chosen signal providers
5. Set your stop losses if necessary
6. Watch as the trades are replicated in your own trading account in real time
7. Make money (if the signal providers continue to provide profitable signals)

Positives

As with any kind of signal service, there are of course a number of pros and cons. So let’s start off by discussing some of the main benefits first of all:

Completely Free Signal Service

Unlike many other forex signal services that charge a monthly membership fee, it is possible to copy profitable traders completely free of charge through ZuluTrade if you open an account with one of their preferred co-branded or integrated brokers, which at the time of writing only includes FX View and AAAFX.

Otherwise if you register an account through one of their other listed brokers, there is a monthly subscription fee of $10 per trader/signal provider, which drops to $9.50 after 3 months, $9 after 6 months and $8.30 after 12 months.

Manage Your Own Forex Account

ZuluTrade essentially provides you with your own managed forex account where you are in complete control. That’s because you decide which signal providers you want to copy and how much money you want to risk with each one.

No Need to Trade the Markets Yourself

One of the main benefits of joining ZuluTrade is that it enables you to make money from forex trading without having to trade the markets yourself. Therefore it is ideal if you have a full-time job and are looking to make some extra income, for example.

No Knowledge Required

Following on from the last point, you don’t really need any knowledge of forex trading either because you won’t be the one making the trading decisions.

Nevertheless, it is still a good idea to educate yourself about the various different aspects of currency trading because this will help you to evaluate all of the signal providers and understand how they trade the markets.

Compatible With Many Different Brokers

It is best to open an account with AAAFX or FX View because all live accounts are linked to ZuluTrade for free, with no commissions or monthly subscription fees, but you will find that their automated signals can be traded automatically with many other brokers as well.

You can either set up ZuluTrade to work with your existing account, or you can open a new account with one of these brokers when you sign up to ZuluTrade.

Here are some of the brokers that are currently supported right now as we head into 2024:

AAAFX and FXView (the two brokers that offer free copying), Activtrades, Avatrade, BDSwiss, Blackbull Markets, DeltaStock, F inveo, FXC, Hextra Prime, Libertex, Moteta Markets, Tickmill, Vantage and YaMarkets.

Free Demo Account Available

If you are new to forex trading, or if you are reluctant to subscribe to a few signal providers and start trading using real money, a free demo account will automatically be set up for you when you register with ZuluTrade that will enable you to test out many different providers and get a feel of how this service actually works in reality without risking any money.

Signal Providers are Incentivized to Do Well

A few years ago ZuluTrade decided to change their commission structure so that signal providers only get to keep their commissions if they have had a profitable month, which has made a massive difference because there is now much more of an incentive for them to come up with winning strategies.

Detailed Performance Data for all Traders

ZuluTrade provide comprehensive performance data for every single signal provider, and includes lots of detailed statistics for each one, which obviously makes it a lot easier to find profitable traders.

In addition, you can use the built-in ranking system to find profitable traders, or sort them using a number of different criteria, such as win percentage, maximum drawdown, ROI, etc.

For example, here are some of the most profitable signal providers over the last few years (up until December 2023):

As you can see, ReVeR273 is currently one of the top performers on ZuluTrade, and as a result they now have 1178 investors copying their signals, and a total sum of $400,744 invested in them.

Furthermore, if you view their profile page, you can see a lot more performance metrics, and will discover that they have made around 727% profit since they joined ZuluTrade, with a win rate of around 76%.

Another hugely successful signal provider is FIRE GC, who has 797 investors and over $350,000 in funds invested in them.

They too have got a steadily rising equity curve with only a few minor drawdowns along the way, and have achieved an impressive ROI of 320% to date, with an overall win rate of around 78%.

So this demonstrates that there are some seriously talented forex traders that you can copy on the ZuluTrade platform.

(Disclaimer: I am not recommending any signal providers in particular. Please do your own research before choosing which traders you want to copy.)

Diversify Your Portfolio

Traders Combos is a relatively new feature that enables you to invest in groups of profitable traders that have been carefully chosen by ZuluTrade’s algorithm based on a number of different factors, (win ratio > 30%, long-term positive ROI, 50+ trades, trading for 15+ weeks, followed by real investors), and sorted by risk.

Subsequently you can choose which group of traders you want to invest in based on your risk appetite.

Profit From Losing Traders

One of the most underused features of ZuluTrade is the reverse trading option, which is a shame because this is potentially one of the most profitable features.

Reverse trading is basically where you automatically trade the opposite signals to the ones provided, and is based on the assumption that most providers end up losing money. So if you can find traders who take crazy risks and have no real trading strategy, you can make some decent returns.

Follow Successful Subscribers

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.

Wide Variety of Instruments Available

As well as providing automated forex signals, ZuluTrade now enables traders to trade stocks, indices, commodities and cryptocurrencies 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 other markets and cryptocurrencies such as Bitcoin, Ethereum, Litecoin and Ripple, for example.

Plus you can also trade all of these instruments yourself if you choose to use your broker account to trade yourself as well.

Access ZuluTrade on Your Mobile Devices

As well as offering desktop widget apps, they also have apps available for iPad / iPhone, Android, Windows Phone and Blackberry devices. Therefore you can easily monitor your open positions,  adjust stops and limits and manually open and close positions on the go.

Fully Regulated in the EU, SA, Mauritius and Japan

A lot of forex companies are completely unregulated, but ZuluTrade are fully regulated in the European Union, South Africa and Mauritius as a portfolio management platform provider, which provides additional protection for investors.

Negatives

In order to provide you with a balanced review, here are a few of the negative aspects of ZuluTrade:

Far Too Many Unprofitable Traders

The main problem with ZuluTrade is that although there are more than 100,000 signal providers on this site, it is quite hard to find traders who consistently make money month after month.

There are plenty of traders that have a long and profitable track record on this site, but, 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.

Some Traders Have No Concept of Risk Management

Following 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 500 points just to make 10-20 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.

Not All Traders Trade Using Their Own Money

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.

Therefore it often pays to view people’s profiles and see whether or not they are trading their own signals with real money. This will tell you how much confidence they have in their strategy.

Final Thoughts – How to Make Money with ZuluTrade

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.

However I can’t emphasise enough how important it is to fully analyze the trading records and statistics of every single trader before you subscribe to their signals.

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. It’s also a good idea to subscribe to those people who are trading their own signals using their own capital (as opposed to a demo account) because they are obviously putting their own money on the line.

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.

You can also invest in groups of traders, referred to as Traders Combos, because these are profitable traders that have been selected by ZuluTrade’s algorithm, and it essentially enables you to diversify your portfolio and reduce your risk.

Anyway I hope that you have found this review useful, and now have a better idea of both the pros and cons of this social trading platform, and how it works.

If you would like to sign up to ZuluTrade and give it a try, you can either open a live trading account straight away or practice on a free demo account using virtual money. Here is the sign-up link:

→ Click here to open a live trading account