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ZuluTrade
www.zulutrade.com
Overall Score: 2.7 / 5
Total Votes: 143
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Discussion
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jagui

Member Since Nov 26, 2009  33 posts jagui Oct 19 2010 at 10:30 (edited Oct 19 2010 at 10:31 )
markopolo posted:
    I cant see your point here...conflict of interest between who? Zulu and the providers or zulu and the brokers? Zulu makes their commission whether you win or loose, same goes for providers and brokers...If you are clever enough, you can understand that if as a company, they have winning accounts its better for them because they will attract more and more instead of closing accounts and getting a bad reputation...
I mostly agree though on your second suggestion, one has to be very careful on which broker he will choose, it makes a big difference and I have a personal experience in this with zulu.
I dont know about you, but so far im rather satisfied from this service, I dont risk much and I dont expect huge profits though and I think this is the best way to treat the forex market in general.



The conflict of interest is so evident that one must be blind to not see it (no offense intended to anyone).
The conflict is between zulu and the clients who follow one or more providers. Providers are encouraged to do more trades than necessary, they earn from the number of trades, and so does zulu. This doesn't mean you can't find succesful providers in zulu, of course there are! This means the the client's profit are cutted by an unfair percentage.

1) clients cannot use the better brokers out there => this add at least 1 pip just from the broker.
2) add the zulu commission and we are at 2 pips.

The problem here is that the client pays at least 2 pips more (than trading alone with a good broker) on every trade, not just on the profitable ones. This kills profit, unless you choose providers which target big profits and trade. It would be much more fair to pay only for profitable trades, or, better, only for profitable months, or a fixed fee.

My point is that the rewarding scheme for the automation platform and for the signal providers should be neutral to trading styles.

There's always something to improve
stephanusR

Member Since Aug 20, 2009  216 posts Stephanus Rensburg (stephanusR) Oct 20 2010 at 18:39
This one does hundreds of clients from on master MT4 account

http://www.mtprogramming.com/tradecopier.html

Then there is spyware riddled http://www.toolsfortradingtheforex.com/aboutproduct.html , it stakes snapshots of your screen back to the authors.

http://tradecopier.com/1-master-upto-3-slave-copier/

markopolo

Member Since Jul 08, 2010  49 posts markopolo Oct 27 2010 at 13:50
I partially agree with you jagui, but you have to take into account two things
1. company interests
2. implication of what you suggest in reality. I think this is very hard to implicate, the commission per trade is rather 'fair' for all the sides, providers, company, followers.
I still believe that it is in the interest of zulu for its providers to be good and win, so that customers wont go away and even more can join. I think every company wants this, the things is if the providers are up to it!

88cefiro

Member Since Dec 05, 2009  19 posts K (88cefiro) Oct 27 2010 at 14:25 (edited Oct 27 2010 at 14:36 )
If your having a problem with spread differentials try fxdd, I have 2 accounts with them, 1 for testing zulu and one thats my larger manual account and the last 12months+ there's been no difference in spread. The only cost difference is a 1 pip 'commision' on the zulu account.

Always use the safe stop feature. I have only once in 12months or more had a trade not close and run the stop, I took it up direct with FXDD and it was fixed immediately with full reimbursement. IF you use the safe stop you will always have a stop entered at the same time the trade goes in and if it runs that stop its a broker issue.

I don't agree with the 'fixed fee' idea either, as one of the providers im using trades on 3 different signal services and had a down month this month. On all the other services clients got a $100+ bill and the trades lost money. On zulu I still lost money but atleast I didn't then have the indignity of having to pay him his $100+ for losing money. When he's back to making money next month I still won't have to pay him.

As for the 'conflict of interest' I don't think there is one, or atleast not in the way suggested. Zulu does not broadcast more than 30 trades per day per provider. So neither the provider or zulu is getting paid for more than the 30. I think the problems associated with zulu lies more with the quality of their providers and they could be eliminated if they for example did 3 things:

1.) Stopped traders having more than 1 signal account.
2.) Only accepted signals from live accounts - no demo warriors.
3.) Removed a providers ability to manipulate stats & comments (they now rate and comment on their own signals as users)

A perfect example of all that is wrong with zulu is this chump:
https://www.zulutrade.com/TradeHistoryIndividual.aspx?pid=13389

- Manipulates his stats (on one account alone he opened over 2000trades at once to cover up his previous losses)
-moves his stops from 500 pips to thousands when their going to get hit
- uses multiple accounts all doing the same thing, well over 15+ at last count. Everytime he jams one up he opens a new one.
- Trades on a demo account and doesn't take his own whole signal.
- Is now commenting on his own signals as a user with 'always good and safe', 'best on zulu', 'should be top3' etc etc
- 500pip initial stop with a 40 pip take profit, WTF?...

It's the providers that make or break any signal service.

jagui

Member Since Nov 26, 2009  33 posts jagui Oct 27 2010 at 14:37

markopolo posted:
    I partially agree with you jagui, but you have to take into account two things
1. company interests
2. implication of what you suggest in reality. I think this is very hard to implicate, the commission per trade is rather 'fair' for all the sides, providers, company, followers.
I still believe that it is in the interest of zulu for its providers to be good and win, so that customers wont go away and even more can join. I think every company wants this, the things is if the providers are up to it!


1. Other services charge a flat commission or % on gains (currensee, rent a signal, zip signals, collective2) so what I say is perfectly compatible with company interest.

2. Think like a signal provider. If I were a zulu signal provider with a good method, I would likely split a trade into multiple ones, to get more money. It's that simple. Zulu encourages me to do this with its cost structure, the end result is less money for the signal followers, compared to what I label as a 'fair service'.

There's always something to improve
jagui

Member Since Nov 26, 2009  33 posts jagui Oct 27 2010 at 14:45 (edited Oct 27 2010 at 14:46 )
88cefiro posted: I don't agree with the 'fixed fee' idea either, as one of the providers im using trades on 3 different signal services and had a down month this month. On all the other services clients got a $100+ bill and the trades lost money. On zulu I still lost money but atleast I didn't then have the indignity of having to pay him his $100+ for losing money. When he's back to making money next month I still won't have to pay him.

Neither me. I advocate for a fee based on a % of actual gains.


88cefiro posted: As for the 'conflict of interest' I don't think there is one, or atleast not in the way suggested. Zulu does not broadcast more than 30 trades per day per provider. So neither the provider or zulu is getting paid for more than the 30.

But zulu calculates providers stats using all the trades, not only the first 30, so it is misleading people by let them think they're seeing reproducible results, while they're not.


88cefiro posted: I think the problems associated with zulu lies more with the quality of their providers and they could be eliminated if they for example did 3 things:

1.) Stopped traders having more than 1 signal account.
2.) Only accepted signals from live accounts - no demo warriors.
3.) Removed a providers ability to manipulate stats & comments (they now rate and comment on their own signals as users)


Thanks. These are more reasons why zulu is the worst.

There's always something to improve
jagui

Member Since Nov 26, 2009  33 posts jagui Oct 27 2010 at 14:57

88cefiro posted: It's the providers that make or break any signal service.

Actually it is not. On average, people are not able to isolate only good providers, giving the various ways a provider can cheat with zulu. The proof is that the 'bad' provider you talked about now has $824,268.94 live money following him.

Zulu is all about hype, and probably it is making more money than others services. It has a clearly defined target consumer group (the group of customers where the most money come from): newbies, and it is acting coeherent to this. For each one expert forex trader, there are thousands of newbies, and each month they are more than the previous. This is the current retail forex trend, and zulu it is exploiting it well.

There's always something to improve
bluemele

Member Since May 01, 2010  271 posts Gil Barden (bluemele) Oct 27 2010 at 16:03 (edited Oct 27 2010 at 16:05 )
Zulu will go through people's accounts till they are drained. Their top provider drained my account 43K last year alone! He will use his EA to do really really well for 3-5 months and then all at once KABOOOOOOOOOMMMM>>>>

Look at forexZone which is from the same provider.

the brokers don't reimburse and I have a feeling the people posting here work for ZULU because if you notice, very few people have lost in the pip count window. They deleted my records as I lost thousands of pips on a couple scumbags.

Why are 99% accounts only 1-4 months old! No different then if you went to forexfactory.com and got the latest EA or ran blessings 3. Until you hit a big trend, then KABOOOOOOM!!!

FXDD was generous! Forex.com wouldn't do ANYTHING. 'It is Zulu's problem'.... Then I would talk to ZULU, 'Well, we are not your broker'

If you have money, put in 100.00 and play with it like a toy. This is not serious, you will only lose money and only a fool likes to part with his money. This is not investing, but hoping.

DO NOT BELIEVE ANYTHING YOU READ ON THESE POSTS. THE COMPANIES KNOW THEY CAN GET IN HERE AND TYPE IN ANYTHING THEY LIKE. DO YOUR OWN DUE DILIGENCE. LOOK AT HOW LITTLE PIPS PEOPLE ARE MAKING. Also, ask yourself why are the accounts only x days old etc... Service has been around a LONG TIME! :)

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
markopolo

Member Since Jul 08, 2010  49 posts markopolo Nov 09 2010 at 14:06
You cant blame zulutrade for targeting the new forex players, as you cant blame EAs for doing the same! In all kinds of markets companies invest on new customers!
Zulutrade for me is all about proper money management. Pick a good broker that doesnt cheat (eg. trading desk that rejects orders, slippage, re-quotes, etc.) and then try to trade slow, only allow 3-4 max open positions with max 10 lots.

earnbigbills

Member Since Nov 25, 2010  18 posts earnbigbills Nov 25 2010 at 23:31
I think ZuluTrade is wonderful! I have doubled my account already. I know some signal providers really sucks, they trade from a demo account and don't care about the losses their followers might suffer, but you have to do your homework and select the right ones. Some of them leave their trades open for weeks/months with HUGE drawdown only to keep their 100% winning trade track record. But you know what, some of these guys are consistently reliable. If you trade with wise money management and use small lots, you can make good return on investment.

I am a signal provider on ZuluTrade (Earn Big Bills) and all my trades have a stop loss. My trades are based on historical Support and Resistances, Pivot Points, and Moving averages. I also follow a subscription based signal service that has an excellent track record. This subscription service cost 150$/month and I mirror their trade in my account.


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