ZuluTrade Free Auto-Trade – The Pros And Cons
ZuluTrade is a web-based innovative Forex trading platform that offers free auto-trading to their registered members. They provide free auto-trade platform which you can enjoy for your life while they take care of your transactions even without your presence.
The design of ZuluTrade allows Forex trades signals to be executed automatically. Its trade robot handles the execution of various trade signals that are offered by different Forex signal providers in the market. ZuluTrade was founded in 2007 and has significantly grown with operations in different parts of the world. It is headquartered in Athens, Greece and operates other branch offices in major cities like Shanghai, New York, and Hong Kong. Currently it has more than 15,000 trading clients registered with its online trading network and is executing trades in approximately 183. Using ZuluTrade auto-trade is simple and free.
Advantages Of Using ZuluTrade Auto-Trade
1.Automated Forex Trading
The design of ZuluTrade effectively combines online Forex trading with social features that allows traders to easily execute their trades. Their auto-trade is developed to allow Forex traders to automatically mimic trades so as to take advantage of different expert strategies used by more 60 Forex brokers worldwide. The auto-trader has a chance to choose by himself which signal providers or experts to follow. ZuluTrade auto-executes transactions for free ones the auto-trader has selected the provider signal.
2. User Interface
ZuluTrade provide the best trading interface. There is a page for auto-traders to formulate and compile their desired portfolio. The auto-trader is allowed to add multiple signal providers to the Forex account. You can also configure many aspects on the user interface including portfolio and various other parameters from the signal providers selected. These including setting risk limits, different multipliers, stop loss targets etc.
3. Free Risk Management Control
Another benefit of ZuluTrade free auto-trade is that they offer useful functions for money management and risk control. ZuluTrade has developed a tool known as “Margin-Call-o-Meter” to protect their registered clients from margin call effects. This is a very important tool that you should not neglect. Clients who avoid this tool taking up much leverage ends up making losses. Such auto-traders end up making huge sums of money.
4. ZuluTrade Broker Integrates With AAAFX
ZuluTrade integrates with AAAFX that offers many advantages to Forex their auto-traders. First, auto-traders enjoy lowest slippage offered by AAAFX unlike other signal providers. Considerably, AAAFX are always amongst the top 3 Forex brokers that provides the lowest possible slippage. Lowest slippage potentially allows auto-traders to closely mirror the performance of their trades. Less slippage also allows you to have more pips in your pocket which you can take advantage of anytime.
5.Free Accounts Management
ZuluTrade offers free account management. The auto-trader is only required to select a signal provider. The ZuluTrade will actually execute all the transactions on behalf of the trader free of charge. They offer this service to trader who matches the signal provider’s activity irrespective of the brokerage which holds the trader’s account. Besides, there is neither third party transfer nor minimum capital investment to do this. The trader’s funds are all held by his brokerage account.
Demerits Of Using ZuluTrade Auto-Trade
1. Over-Relying On Someone Else’s Trading Expertise Skills
Relying on someone else’ skill is the greatest ZuluTrade strength but it turns out to be its strongest weakness. With ZuluTrade, the auto-traders are simply riding on the expertise and skills of other people. This is a big risk when you consider that anyone can become a signal provider. This can lead to poor quality trading system on the website making traders abandon many trading systems.
2.No System In Place To Filter Signal Providers
ZuluTrade relies on several signal providers some of which are inactive. Unfortunately, there is no method in place to filter out inactive and abandoned signal providers. They remain littering the site for nothing. Even very reliable signal providers get crashed due to high-risk strategies therefore should be filtered out once inactive.
3.Inconsistent Opening And Closing Operations
Many ZuluTrade auto-trade clients complain of inconstant operations in opening and closing orders especially in America. This is attributed to the NFA FIFO regulation currently being enforced. The new regulation prevents the trader from closing the second open operation when the first one is still open.
Conclusion
Although there are a few significant demerits, ZuluTrade is still the best for Forex auto-trading. I would say no broker is perfect and everyone has their own weaknesses. There are plenty of outstanding trading opportunities that ZuluTrade provides. You can make loads of cash using ZuluTrade without your presence by careful selecting good signal providers and putting due diligence to practice.
Utilizing ZuluTrade could be effective if used correctly with the right broker. Understand the details of one of the best brokers that registered in ZuluTrade at AAA Fx review. If you instead having EA as your auto-trading means, I’d advise you look at recommended types at best forex EA.
Filed under: Currency-Trading
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