Estimated reading time: 4 minutes
Last Updated: 01 June, 2017
When you think of following signal providers on social trading platforms, you think of Zulutrade but when it’s time to create a live account with Zulutrade, you think about the best forex broker for integration with the social network.
Before you can go live on Zulutrade, you need to create a live account with a supported broker, fund it and verify some documents.
Still don’t know what Zulutrade is all about, hope this article will help.
When creating your live account with the platform, you may become confused on the best broker to choose as there are more than 40 supported brokers.
You will be presented with a wide variety of forex brokers to choose from with certain parameters that allow you to compare the features of the broker.
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Note: If your language is not English, you should use the language dropdown menu at the top right hand side of their page to select your language.
You can select a broker based on the commission (in pips), platform compatibility, slippage, trading features, Max leverage, Minimum Deposit, regulation and lots of other parameters.
Sliding the commission parameter to the lowest(0 pips) and selecting full refund policy and directly integrated with the platform leaves you with only one broker which is AAAfx.
Actually, the best broker for Zulutrade is AAAfx, nothing more, nothing less.
If you’re based in the United States, then go for FXCM because they are the best for US clients with low commission as well. AAAfx doesn’t accept US clients.
The reason for the choice above is based both on my experience with them as well as other followers’ experiences.
Quite a number of factors led me to choose AAAFx as my favorite Zulutrade broker.
AAAfx is among the brokers that offer competitive trade spreads for its clients. As you may have known, the spread for different currency pairs may vary but a brokerage company that offer one of the lowest in the market is definitely a reliable one.
The lower the spread for trading, the better the chances of getting profitable trading portfolio.
This is where AAAFx beats all other competing brokers hands down when it comes to social trading with Zulutrade.
As AAAFx is Zulutrade’s own broker, they charge no commission(0 pips) for the services provided by the social platform. This is in contrast to other brokers that may charge you as high as 2.7 pips! for the same service.
Slippage(in pips) is often a factor misunderstood by most followers.
Slippage is a kind of additional pip(s) placed in the follower’s account either in favor or against him due to a time lag (1-3 secs delay) between the signal provider’s trading terminal and the follower’s account.
It is normal to experience slippage because the signal providers use different brokers and these brokers need to communicate with Zulutrade servers before the trades are placed in the follower’s account.
Slippage is not meant to be high but when it is, the trade is cancelled by Zulutrade and not placed. This helps to minimize losses and to ensure that the trader’s results are the same with that of the followers’.
AAAFx is almost always among the top three brokers (if not the best) that offer the lowest slippage when it comes to “Zulutrading” for most signal providers.
Brokers like Nordfx and Dukascopy have the worst Slippage.
The old days are gone when AAAFx customers file in complaints to the support desk without reply for weeks. Today, AAAFx support is among the best among other brokers with a 24/7 live support service that’s always ready to assist you. The same applies for their social trading network.
Their major customer support departments are always ready to assist you the best possible way.
If a broker is being regulated by a major financial organization like CYSEC, NFA, FSA, CFTC, it’s activities are limited and strictly monitored. This is to ensure a fair and ethical business attitude. They must be fully registered with these bodies and provided license to deal with foreign exchange operations with their clients.
In the case of AAAfx, it is headquartered in Athens, Greece and regulated in Europe under Hellenic Capital Market Commission (HCMC) and Markets in Financial Instruments Directive (MiFID).
As such, the level of investors’ protection is of the highest quality as AAAfx adhere to strict limits provided by financial advisers from these organizations.
Moreover, the investors are protected by the Greek Guarantee Fund according to the European directive so that in the event of an investment firm’s bankruptcy or failure to provide it’s services, the Greek Guarantee fund will act to reimburse the investor’s contracts.
AAAFx has acquired a strong reputation and positive reviews especially when it comes with it’s integration with Zulutrade.
This has also served as a source of encouragement to new clients who want to do business with AAAFx.
Have you been trading on Zulutrade with AAAfx, share your experiences with us or leave a review of AAAFx below.
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