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ZuluTrade Review – Is it Legit? (January 2023)

Top Copy Trading Platform Since 2007

Reviewed By |

Overall Rating

4.4/5

FAST FACTS

Fees: Broker Dependent

Best For: User-Friendly Social Trading Platform with Top Broker Partners

Warning: Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. 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.

Forex trading involves a real risk of loss. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss. Past performance is not indicative of future results.

Zulutrade is a world-famous social wealth management platform and force in the industry when it comes to copy trading. If you are looking for a social trading platform to deal with they are undoubtedly one of the very best and oldest in the business. In social trading too, Zulutrade has shown they can compete well with other social trading platforms like eToro.

They have been operating since 2007 and have grown tremendously during that period of time. Zulutrade now partners with many of the best forex brokers in the business to allow you copy trading features and tools directly through their platform. As of December 2021, ZuluTrade was acquired by the Finvasia Group.

In 2022, ZuluTrade won the following awards : ‘Best Social Trading Solution’ at the UF Awards as well as ‘Best Social Wealth Management Platform’ at the Forex Expo in Dubai in October 2022. The platform was also awarded as the ‘Best Social Trading Solution’ at the iFX EXPO Dubai 2023.

Here we will take a look at all aspects of the service at Zulutrade and exactly what is on offer for you should you choose to connect your copy/social trading with them.

Pros

  • Partnered with more than 50 of the best well-regulated brokers
  • A very user-friendly trading platform experience
  • Most recognisable social trading platform with over 2 million users
  • Copy or be copied on a wide range of tradable assets
  • The platform does not charge any fees for trading nor for opening an account

Cons

  • Number of base currencies will depend on the broker
  • Some brokers may not be available with Zulutrade

Trust

4.7/5

When it comes to reputation, not only ZuluTrade is the first and oldest copy trading platform but they are also well backed by regulation of their own. The HCMC in Greece as well as the General Japan Investment Advisers Association in Japan (2014 – No. 1058 Members Associations) regulate the ZuluTrade entity there and the company themselves commit to only partnering with forex brokers who are well-regulated.

This means you will find that only regulated brokers can be connected with the ZuluTrade service and so you can trust them to take your safety and security seriously.

Since ZuluTrade is used by many investors and traders, they do have a robust system in place to make sure high-quality trades are being offered from the best possible traders. This is similar in nature to what you will find with other major copy trading brokers who try their best to reduce the number of so-called “lucky traders” being copied through their platforms.

Naturally, since you are operating through a regulated broker when you deal with ZuluTrade you will also be covered from that perspective via all of the safety and security measures your broker also provides.

Investment Products

4.3/5

Since ZuluTrade is essentially a dedicated copy trading service, the markets you will have available to trade and the features of this trading will depend almost entirely on the broker you are using to connect with ZuluTrade. This means that whatever assets are available to trade at your broker whether is forex currencies pairs, commodities, crypto, or other assets should also be available through ZuluTrade.

Of course, you will find that certain traders you wish to copy may only trade certain assets. This is up to you to choose the traders you would like to copy who are also trading in assets you are familiar with and want to trade. Luckily through ZuluTrade you will be able to find thousands of traders who you can copy if you like their strategy.

Commission & Fees

4.4/5

When it comes to ZuluTrade commissions and fees, the first thing to note is that you will be subject to the fees and spreads of the broker through which you are trading primarily. The same goes here for things like the minimum deposit and supported base currencies. These will depend on the broker you are operating from, though to maintain your broker investment account connected with ZuluTrade, your balance should always exceed $100.

The next thing of importance is to discuss the account type offered by ZuluTrade. The platform offers the ZuluTrade account, through which you will pay at the moment positions are open, and the fees will depend on the size of the position, and will be added to the broker spread. Several perks of using the ZuluTrade account include the ability of both copy and manual trading, commission-free trading, the fact that individual trades can be closed at anytime and many more.

There are no other fees or commissions as such with ZuluTrade as again these will depend on the broker you are accessing the service through.

Trading Platform

4.2/5

The trading platforms you will have available at ZuluTrade include one proprietary option from the company themselves, and MT4 as well as MT5 if you prefer to use the most popular third-party trading platform choices. This selection of platforms provides a great deal of flexibility to meet all of your trading needs.

The proprietary ZuluTrade+ platform is web-based and extremely user-friendly in how it is put together along with providing access to a great range of tools to help you in trading. Through this platform, you will also be able to engage with many social trading features offered by ZuluTrade including the ability to comment on trader portfolios and more.

The ZuluTrade+ platform is as detailed as it gets in providing you with data across many areas on the traders you are thinking of copying. This encompasses everything from the amount invested by a trader to their return on investment and much more.

If you prefer to trade through MetaTrader 4 or MetaTrader 5 and take advantage of the dozens of tools and indicators here as well as their longstanding reputation for quality then it is also no problem. You will be able to copy your trades directly from the MT4/MT5 trading platform into ZuluTrade+ if you wish.

Customer Support

4.1/5

You will find top-notch customer support available from ZuluTrade in more than 20 languages, all of which are supported by their 24/5 live chat service in providing a truly global customer support network.

There are also multiple phone numbers you can call depending on your location around the globe, and email ([email protected]) is also available. The support team is ready with detailed and professional answers to questions as well as a fast response to any problems you encounter.

Education

4/5

It is likely you will be doubling up on educational resources by connecting with ZuluTrade since your broker likely already has an educational section. This is no bad thing at all and you can look forward to taking advantage of more great content at ZuluTrade.

Here you will find a very useful guide on how to operate the platform itself along with the features. There are also detailed trading guides and tips along with regularly published content on the informative ZuluTrade blog that you can access.

Summary

4.4/5

ZuluTrade is the first and the oldest copy trading platform and a leading name in the area of copy/social trading platforms. This comes for great reason. Not only are they hugely experienced and very well-regulated within the sector, but they understand the needs investors and work to offer features and tools that can meet these needs.

Overall, they represent one of the best all-around choices for those interested in copy or social trading with a very well-supported infrastructure, and more than 50 top brokers as partners alongside one of the most user-friendly proprietary trading platforms in the sector with ZuluTrade+.

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