ZuluTrade Uncovered: A Detailed Analysis Of This Copy Trading Platform
Copy trading is the easiest method to earn passively by relying on the expertise of an experienced trader making decisions on your behalf. It is suitable for both beginner traders and investors interested in diversifying their portfolios. But many of us are doubtful about which platform to join for finding the right Find Out More
Tradable Assets
Zulutrade can be ideal for traders and investors who want to explore different financial markets and make the most of the trading opportunities that arise in different trading instruments. This copy trading platform can be used for trading forex, stocks, commodities, indices and Crypto CFDs of your choice, helping you to minimise the risk with diversification. The only requirement for joining Zulutrade is opening a trading account with any of the brokers that support Zulutrade. After that, you will be able to trade any instrument that the chosen broker offers.
Apparently, the most popular asset class for copy trading is forex currency pairs, as the frequent price fluctuations in the forex market offer a higher profit potential. The price movements in currency pairs are measured and stated in pips. The Zulutrade pip calculator can be a helpful tool to calculate pip value in your account base currency. Understanding pip value is essential to choosing the best currency pairs for copy trading.
Easy to get started
The majority of people who engage in copy trading are inexperienced beginners, and even those who have some experience will prefer an easy signup process without any complication. The platform needs to be user-friendly with an intuitive interface and should offer a quick sign-up process to their new users. Zulutrade perfectly fits this criteria as the registration process for joining Zulutrade is a simple procedure which can be completed real quickly once you have an account with the supported brokers. Once you open an account, you can start copy trading right away after following a leader of your choice.
A leader is an expert trader sharing their trades, allowing the investors to copy them in real-time. All the trade positions opened by the lead traders will be automatically copied to all the trader accounts that follow them. This is perfect for beginners who haven’t found a profitable strategy yet, as they will get to trade with a ready-made strategy by following a leader with a profitable trading system. This is perfect for learning as you will get to see all the trades that are entered by the leaders you invest in.
Transparency
The most important thing to look for while joining a copy trading platform is transparency. You will have to choose the best traders to copy on the basis of their account performance, and the platform should help you by providing all the relevant data for making a wise choice. Zulutrade is surely doing well in this aspect by ranking the top-performing leaders, which allows investors to choose the best one based on their requirements.
They display all the key metrics about the performance of their trading account, which includes their ROI, profits earned, trades opened, max number of open trades, account drawdown, win rate, trading history, open positions in real-time, advanced statistics showing their performance for specific periods along with overall performance and data about copiers (investors copying the leader).
You need to consider your own risk tolerance and expected profits while investing or copying a leader/trader on Zulutrade. You need to make sure that the leaders you choose have a strategy that is in line with your investment goals and risk appetite. You can also try them on a demo account first to evaluate the performance. You can assess the potential profits of the open trades with the Zulu profit calculator and make informed decisions.
Trading Tools
Zulutrade also offers a wide range of trading tools to help its users get a seamless trading experience. The first is a simulation tool, where you can choose an account balance, add leaders of your choice and get results for a specific period. The simulation will tell you about the potential results you can get while copying the chosen traders based on their performance. This tool is handy for understanding how copy trading will work without risking your funds. This allows you to set realistic expectations and calculate expected returns before investing.
Zulutrade also offers an economic calendar to help its users stay updated about the important economic events that can affect the financial markets. This can be used by professional traders or leaders sharing their strategy on the platform. Investors and novice traders can also use the economic calendar to stay updated about key economic events while learning about fundamental analysis.
Zulutrade also offers a bunch of trading calculators to simplify the complex calculation process. You get calculators for determining pip value potential profits and also a currency convertor that applies real-time conversion rates. Besides this, if you want to know what is the margin in forex? You can use the margin calculator on their platform to calculate the minimum account balance you need to maintain to keep the trades running.
Zuluguard feature
The Zuluguard feature provides protection to investor accounts by monitoring the performance of leaders you follow, and it automatically removes a trader when their performance deviates from falling below the expected loss profile. This feature works like a risk management tool for all investors even when they don’t get to monitor the account performance in time. The Zuluguard will limit your losses by removing the traders in time.
Community
Another useful feature that you get on Zulutrade is the community section, where traders share their thoughts and provide updates that are relevant to their followers. You can also interact with the posts and ask any doubts that you have in mind. You will always see some valuable insights or updates posted on the community section, which also promotes communication among the users. You can also get relevant updates by searching for related hashtags and even following hashtags to get updates immediately.
Customer support
Having a responsive customer support team to address your concerns and offer required assistance is essential while using any platform. Users of Zulutrade can feel at ease as they can trust the live chat support system to get in touch with the team. You can reach out to them to ask any doubts or to help you out with any issue that you encounter.
Final Verdict
To give a final verdict on Zulutrade, this copy trading platform stands out as a transparent and trusted platform for investors and traders alike. Anyone can join ZuluTrade and get into copy trading very easily. The advanced features and trading tools of Zulutrade enhance the trading experience you get on the platform, making it a popular choice.
