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ZuluTrade Review Scores


Overall score: 2.7 / 5

Total votes: 140
Profitability
1
Platform
1
Pricing
1
Customer service
1
1 - Worst 5 - Best

ZuluTrade Discussion

Vitaliy Maznev (vitaliymaznev777)
Nov 26 2020 at 12:15
5 posts
I spent with Zulutrade about 10 years as affiliate and a trader. This year I have reached the minimum amount for payout first time. And Zulutrade has declined my first earnings due the 700 points rule. I need to say that the main essence of the situation is not that I was fined, but that with one click someone crossed out all the accumulated funds. Not only for a specific month, or for specific trading positions, but absolutely all the funds that I have collected on this account since the moment it joined ZuluTrade.


I wrote to trader department and talked to manager. He said that the 700 points rule will be canceled in few days for traders with live forex accounts. But month passed... and Zulutrade declined all my funds second time. Do I need to say that this was done on the basis of the same open trading positions, for which all my savings were destroyed the previous time?


And what do you think, all these (so far) about 1000 dollars of commissions were paid back to the users who paid for them, or Zulutrade kept them for themselves, taking them from the users and not paying the trader? Can it be called a fraud in this case, or what is it called? However, they still take commissions from followers for my work. And I can suspend (not delete) my Zulutrade account only when all orders on the account are closed.

The questions to Zulutrade:

1) If You decline all my current, past and future earnings, why can't i suspend opening the new trade positions and wait when the old positions (for which you decline all my earnings) will be closed, and i can deactivate my account?

2) If you decline trader's earnings, why don't you pay back those comission to the followers?

3) I don't even ask you why do you decline all the accumulated funds but not a part of them for the specific trade positions. But the question is: where's the common sense?


fxrussia (avatar)
Sep 13 2017 at 17:51
72 posts
i just stoped zulu ... the guard function is just taking out all the fun

Nova Trader (JuanDavidV)
Feb 27 2013 at 07:26
13 posts
I really love ZuluTrade, I have made a lot of money with it, without having to worry about trading at all.

Remember you can always start with a Demo account.

Never forget that as with all Forex system, money management is a must! Keep a reasonable and safe lot size!

Plan for the worst and hope for the best - Check my PAMM Account!
FTU James (Jaypipin)
Nov 11 2012 at 16:36
80 posts
Good service, i think waiting 15 seconds before placing the next trade is a downside but this eliminates errors experienced with followers, or tries to atleast. The concern for me is 1. the main focus on pips should not be the prime performance indicator of a trader. more pips or less does not equte to good trading or capital growth. you could make 10 pips on USDCAD, but loss 300 on USDDKK, but still be up on balance this could be simply due to money management, you may have a larger position on USDCAD and a small position on USDDKK. So where on earth did those knuckleheads think okay lets plot the traders performace based on how much pips he/she makes.

2. The idea of a PAMM or mirror trading is i have an account of 100,000 USD and you have 10,000 USD, if i go long USDCAD 1 lot you should go long 0.1 lot. 10 percent of my trade size naturally because you have 10 percent the account size of mine. Simple math. Now what Zulutrade have gone and done, part genius part zulu influence if you know what i mean, they introduced the follower the power to allocate their desired risk. Seems safe, but its not. Its a mess to be frank. The system is smart it works out the traders performance and will adjust trade sizes along throughout the week/month. Or daily the trader could adjust his risk to lower or higher depending on his gut feeling or depending on what side of the bed he woke up.
I mean seriously isnt the whole idea of someone following me mean they dont know what they are doing so now you give them the wheel at the pivotal moment when i execute a trade they 'gamble' the amount. I trust you see the irony in this. Zulutrade have gone horribly wrong here in my opinion and when i confronted them about it they said it is what it is, they dont offer pamm they have their own system and well if it works for some great. But consider very carefully what i just wrote.

Money management is as important as the strategy so why on earth should the person following have a hand in making that decision.. ludicrous.

For a final note, having to wait 15 seconds min to place or adjust a position is farcical, time is money etc and then on top of having to wait to ensure the trades make it to my followers some can still be missed. This equals risk.

Try before you buy, but otherwise there are some good providers.

We are all faced with a series of great opportunities, brilliantly disguised as unsolvable problems - John W Gardener
klaabukosmos
Aug 20 2012 at 07:41
35 posts
shinobi_brian posted:
I am one - check out shinobi_trader and shinobi_trader2:

https://www.zulutrade.com/TradeHistoryIndividual.aspx?pid=90316
https://www.zulutrade.com/TradeHistoryIndividual.aspx?pid=91725


Everything is OK and working now.

Brian Wright (shinobi_brian)
Jun 29 2012 at 12:38
8 posts
hanstenfin
Mar 22 2012 at 13:51
1 posts
I am sure there is....those that actually made some money trading :)

klaabukosmos
Mar 22 2012 at 06:16
35 posts
forex000
Nov 08 2011 at 15:01
2 posts

   stevetrade posted:
   If they put this forward as the premise for the business then that would be fair enough, however this is what they claim to be:

'What is ZuluTrade ?

ZuluTrade bridged the gap between valuable information in money markets and trade execution, by converting the advice of professional and talented traders globally to an executed trade rapidly and automatically in your account (from supported brokers)

There was a time when trading was a headache. Not anymore! You don't have to study or monitor the market to make a good pick, because hundreds of industry well-known experts from all over the world are doing it for you. All you have to do is pick the experts you like, and ZuluTrade will quickly convert their advice into live trades in your trading account directly with the broker. And the best of all, it's completely FREE!*

ZuluTrade receives rebates from the brokers, for the trades generated and splits them with the experts that provide the advice. Check the performance results recommended by our experts here'

Now if it was to say

'ZuluTrade is a site full of dodgy chancers, sprinkled with a handful of decent traders. If you are prepared to spend ages sorting out the wheat from the chaff and have a degree in statistical analysis there is a small chance our highly flaky platform might convert some of those trades into one or two pip winners for you.'

That would be a fairer representation of the business model.
yes u say the true thank u so much

andrewl
Oct 17 2011 at 12:26
9 posts
New ranking again, this time I think they got it right! 😉

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