Finding the best traders to copy is no easy task for the everyday trader and although it sounds and looks easy, it is far harder than you believe it to be.
How copy trading work
These providers can trade live or send certain signals. For instance, a great example is that a trader can have up to 50 open positions of BUY EUR/GBP with a balance of $100.000. At the same time, you can also trade with real funds from a limited account balance and as a direct result, your account is smaller and might not have the capacity to copy all of the orders of a specific trader that you’ve chosen to follow. Another important fact is that a pro trader could also be using a wide array of highly sophisticated trading tools. For example, EA is a great add-on which is used in accordance with the MetaTrader currency trading platform and it has the capacity to generate specific trading signals on the forex trader’s behalf.
ZuluTrade financial features
Read about a Forex social platform that is very different from the usual brokerages and services that are offered to you. Zulutrade was founded in Greece in 2007, has over 100,000 traders in 192 countries and a proven record servicing clients around the world.
Zulutrade is a Forex auto trading platform that allows traders to share their strategies with others who are interested in learning through them. Some also call Zulutrade a social trading or trade copier website. This website is offered in 20 different languages with 24/5 customer support (Monday through Friday).
Zulutrade is free and provides you with various signal providers where you can copy their trades directly into your live trading account or you can copy select trades manually and send them to your broker directly. The system is easy and painless to use by providing the name and account number of the firm you are using, with their partner brokers. This is a cross-platform, free-surface run via the MT4 Trading Platform for iPhone, iPad, Android and PC. You can open a demo or live account and trade most all of the currency pairs, including indices, stocks, cryptocurrency and commodities. It depends on the broker you choose on the minimum deposit requirements you need to activate an account and to maintain your broker account connected with Zulutrade your balance should always exceed $100.00.
The attractive features provided by Zulutrade makes them unique.
1) ZuluRank, ranks trading activities, age of the signal provider, amount of time a trade is open and much more, which allows you to make an informed decision before selecting a signal provider to follow.
2) ZuluGuard protects your trades with careful monitoring for “bad or erratic” traders and will remove them immediately when they find radical trading strategies.
3) The Automator – your personal Forex assistant will execute your trades based on what you would do and watches for trades during the day while you are busy with life.
4) The ZuluTrade Forum where registered users can interact with each other and discuss topics related to Forex. ZuluTrade topics include, announcements, broker requests, beginner trade discussions, trade performances and new features along with many other features.
5) ZuluTrade Social Charts allow you to join live conversations on how the market moves and discuss how the pairs are doing, which is profitable, which ones are not and why.
6) Education provides interesting, relevant information with trading guides on strategies and tips through animated videos.
7) Pip, currency converter and profit calculator is provided on the website no matter your level of experience to allow you plan your trades intelligently and to keep an informed track of your results. This allows you to organize and manage your trading risks so that you can copy expert traders with confidence and take advantage of market conditions and walk away from your computer and enjoy life.
Forex trading or any live investment trading demands you watch the markets for trading opportunities for the majority of your day … and sometimes your nights. For busy people with a family, a demanding job or whatever your life is filled with this is nearly impossible. Zulutrade is a platform that works with you and helps you unlike other brokerages that leave you on your own to struggle through, while you deal with the demands of life around you.
ZuluTrade is here to help you to calculate whether a signal provider is making use of either a live or demo account by simply displaying a specific icon. You can also swiftly take a look for a zone marked with a red rectangle. There is also a green marker which indicates that this is a live account and blue always means the trader is in a demo account. We recommend checking your signal providers, take your time to read all of their strategies and last but not least be sure to take all the necessary time to fully understand the way they function. There are many cases where most traders highlight their strategies as a sales hook, so it easily falls under the influence of some undesirable marketing measures so it’s best to do a lot of research before believing directly their self-declared strategies and after weighing only then can you decide.
Always research your best traders to copy
We recommend monitoring first and check if the trader actually uses the strategies that they talk so robustly about. Fortunately, ZuluTrade once again offers the entire trading history of all the signal providers to help you make a correct and professional decision. To view the selection of signal providers simply click on the trader’s icon on the menu. If you wish to access more details of a trader’s performance simply select “advanced” and you will gain access to more of the available statistics surrounding that trader’s performance. A filter section also helps you to narrow down your search by picking the most important criteria for you. You can also select a specific trader which matches your risk and return activity but what counts is that you have all the information displayed right there in front of you, nothing is hidden from you and from reaching your goal.
In conclusion, I want to underline the fact that all transactions need to be as transparent as possible and researching the trader that you want to follow is always a definite must. These small yet consistent steps are the key to your success that is why we advise you to be careful when choosing who you’re following. Remember never to invest any money you can’t afford to lose.