Estimated reading time: 6 minutes
Traders who are new to the field of trading are quite sceptical about trading. If you are new to the field of trading and looking for an appropriate trading platform, then you are in for some hope because there is one platform out there that can genuinely help you. This platform is none other than the ZuluTrade. Now here we will have a bird’s eye view into the platform to evaluate the ability of this platform. After reading this review you will be able to assess this platform in a better way. However, before moving on to the details let us start with a brief introduction of the platform.
ZuluTrade is one platform that was founded in the year 2007. Initially, this platform was launched as a Forex Trading Platform. The core objective of this platform was to allow the traders who had significant knowledge of Forex Trading to share their knowledge with other traders out there. Recently they have introduced binary option trading as well for the binary option traders. Now what the traders can do is that they can copy the trades of other traders and can also use ZuluTrade as an auto-trading platform. ZuluTrade is also a social trading platform because the traders can get the chance to leave live comments and feedback on the activities of other traders so thus this platform helps to improve the learning of the traders.
Even if the trader decides to copy the trades of other traders it gives him a chance to explore what trading is all about and that is the basic objective of ZuluTrade. This platform helps to improve the learning curve of the trader and help him reach new heights of success. This platform gives insight to those traders who lack the professional understanding about binary option trading and this platform helps these new traders to get the advice from the professional traders who have knowledge regarding the field. The objective of ZuluTrade is to provide an open environment to all the traders so that they can trade and share their knowledge as well.
The following are the key features of ZuluTrade:
Well, ZuluTrade has about 100,000 traders from about 192 countries that use this platform for trading. They make use of ZuluRank proprietary algorithm that is used for ranking a trader. This algorithm tends to analyse different factors the sharp ratio, the time for which the trades remain open, the signal provider’s age, how frequently the trader logs in and the amount of the trading activity as well. What the signal providers do is that they make use of ZuluTrade for trade creation. The signal provider here is the user of the ZuluTrade who is trading using a live or demo account. When a user performs a trade then that trade is sent to all their live and demo accounts as well in the form of a broadcasted signal. When the user places the trade then they publish the results of the trader on their website.
Now if the situation is such that if a user is able to recommend profitable trades, then usually more traders will start to add him in the portfolio. Moreover, if the trade is created in a live account then ZuluTrade pays that user as per the standard ZuluTrade payment terms.
Well, ZuluTrade tends to offer the auto-trading facility to the trader as well. This means that if the trader is sceptical to trade then he should opt for the auto-trading system. This is a great help for the new traders who have less knowledge about binary option trading and this trading system helps the traders to take the next step. This is what makes ZuluTrade so exciting for the trader as it tries its utmost to come up to the expectations of the trader.
ZuluTrade tends to allow the users to applying their trading strategies on a demo account with infinite capital and this results in misleading outputs. They need to make this system more organized and ensure the fact that the trader gets a realistic picture of the output so that he can apply his trading strategies in the live account without any fear whatsoever.
Now initially the approach that the trader should adopt is to try the demo account and see how it works for him. The trader should observe the fact if this platform is a profitable venture for him and only then he should continue trading with the platform. The demo account will give the trader an idea about the look and feel of the platform. However, the trader needs to make sure of one thing that he follows experienced signal providers because this is the only way that the chances of profitability increase. However, this does not deny the fact that the trader needs to develop his learning curve as well and not blindly rely on the signal providers.
It is a comparatively a good trading platform for both the new and the professional traders. This is why the trader should give it a try, but the investor should also try to improve his learning about binary option trading with the passage of time and this will be the right move on the trader’s part.
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