Zulutrade Review

Zulutrade
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Overview

Zulutrade are not strictly a binary broker, however what they offer sets them apart and makes them worthy of noting. Their platform allows traders to copy other binary traders’ trades… more

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Details

Broker Zulutrade
Website URL www.zulutrade.com
Founded 2007
Support Number +44-20-33558805
Support Types Live Chat , Email , Telephone
Trading Platform Proprietary
Minimum 1st Deposit Variable
Minimum Account Size Variable
Minimum Trade Amount Variable
Maximum Trade Amount Variable
Bonus No Bonus
Payout 70% to 90%
Free Demo Account Yes
Regulated Yes
Regulation EU Regulated, Licence # 2/540/17.2.2010
Account Types Dependent on broker
Deposit Methods Dependent on broker
Withdrawal Methods Dependent on broker
Number of Assets 150+
Types of Assets Hot Assets , Currencies , Commodities , Indices
Option Types Pairs , Long Term , Sixty Seconds , One Touch , Ladder
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 6.5

Pros

  • Eu Regulated
  • Copy Trading

Cons

  • Need to link exterior broker

Full Review

Zulutrade are not strictly a binary broker, however what they offer sets them apart and makes them worthy of noting. Their platform allows traders to copy other binary traders’ trades automatically. The process is relatively simple in terms of setting the copy parameters, however, obviously monitoring traders to copy is paramount.

Zulutrade offer a one month demo account which can be renewed, and prior to your demo account closing you can export the month’s trade record via a spreadsheet, so if you have the Excel knowledge you can track progress over a period of months.

If you do decide to open a live account then you will have to select a broker platform to tie into your Zulutrade account of which there are currently 5 binary brokers you can choose from. You can use the zulutrade interface to place your own binary bets, however, the main selling point of Zulutrade is the social trading function.

The platform originally launched as Forex copy trading, but have been operating binary options since 2015.  The selling point of binary as a whole is that it takes complexities out of financial trading and allows trades to be made without extensive knowledge of the markets (which is arguably a questionable proposition). Zulutrade take this one step further by allowing  the user to select traders to copy based on their performance, of which much data is available.

There are several criteria for selecting traders to copy, the prioritising of which depends on your risk appetite. Just like any standard binary platform there is a learning process involved, but that is essential for trading no matter what method you use.

The platform is an innovative one, and you also have the option to set up Forex copytrading account as well. The Forex account is far more complex, opening a demo is highly advised as it takes a while to understand all the available options and parameters of the account and trader settings.

Overall, Zulutrade offer a different trading experience, it does not release the user from the constant process of monitoring performance, however it does them away from staring at the charts.

 

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