In a nutshell: ZuluTrade is a social wealth management platform by the Finvasia Group that focuses on copy trading.
It has a few features that set it apart from other social trading platforms, including support for multiple types of trading (such as stocks, indices, commodities, crypto, and forex trading), amazing support for demo accounts, and support for multiple brokers.
However, no platform is without its flaws. In this ZuluTrade review, we’ll be going over both the positives and the negatives of this platform to help you determine whether or not ZuluTrade is the ideal platform for you.
Copy Trading Services
ZuluTrade is best for…
Individual traders who want to copy professional traders and advanced users on a purpose-made platform. However, if one considers themselves to be a successful trader, a person can sign up for a “Trader Account,” allowing others to copy their individual trades instead.
Pros & Cons
Potentially low initial deposit
No ZuluTrade commissions or fees
Free demo accounts
Limitations vary by broker
Fees vary by broker
Not for US citizens
Table of Contents
What is ZuluTrade?
ZuluTrade is a social & copy trading platform that supports a variety of asset types and a wide range of brokers. Although an individual’s trading experience navigating the financial markets will largely depend on the broker they choose to link to ZuluTrade (as the service doesn’t actually conduct trades itself), ZuluTrade allows traders instant access to the trading strategies of others.
This makes the platform an invaluable resource for those who want to try copy trading, as ZuluTrade has plenty of traders that users can copy. However, it’s always important to do one’s own research. While the platform does its best to only allow high-performing traders to be copied, that doesn’t mean every trader’s strategy will be a winning one.
ZuluTrade offers a variety of useful features & trading tools to its ever-expanding user base. Its copy and social trading features are the main draw, although the platform also supports manual trading.
Of course, copy trades aren’t allowed to run free: users can set up ZuluGuard, which essentially acts as a stop-loss system (preventing you from suffering massive losses when mimicking the actions of another trader).
ZuluTrade Social—the social element of the platform—allows you to view the actions of other traders, which can be an invaluable tool while trying to decide which trader(s) to follow.
Traders themselves can trade on their choice of over 50 supported brokers, which gives them collective access to the stock, indices, commodities, crypto, and forex markets. ZuluTrade can be accessed via the web version or by using the mobile app (available on iOS & Android).
The platform even offers excellent customer service, with support offered in 26 languages via live chat, email, the website itself, and by telephone.
Pricing & Plans
Next, let’s take a look at the pricing and plans offered by ZuluTrade.
The platform’s “ZuluTrade Account” and “Trade Account” are both free to use, as are the demo accounts. ZuluTrade itself doesn’t charge any fees. Instead, traders will be subject to trading fees leveraged by their choice of brokerage, which will vary depending on the platform used.
While ZuluTrade itself may be free to use, that doesn’t mean it’s a funds-free experience. The exact minimum deposit required will vary by broker, but you can expect to deposit a bare minimum of at least $100 before you can start using the live online trading features.
Fortunately, the same isn’t true for demo accounts; a user can open up to 10 demo accounts without ever needing to pay a deposit.
ZuluTrade does slightly underperform when compared to other signal providers, making it less appealing to experienced traders who are interested in navigating the financial markets on their own (rather than pure copy trading).
Beyond this, the only limitations you’ll run into will be on the broker’s side.
Is ZuluTrade Right for You?
Ideal for both beginner and experienced traders alike, ZuluTrade is a reliable platform that makes it easy for nearly anyone to start their copy trading journey. Offering the perfect combination of brokerage connectivity and social networking, ZuluTrade is definitely one of the best social trading platforms out there.
That said, the platform is marketed toward a specific audience. While ZuluTrade is excellent for copy traders (or those who want to be copied themselves), it doesn’t offer as much value to those who simply want to trade on their own.
If you’re not sure whether this is the platform for you, we highly recommend opening a demo account to test the platform before trading with real money.
However, if you’re looking for a platform solely for the purpose of copy trading, you simply can’t go wrong with ZuluTrade. Click here to try the platform for yourself today!