ZuluTrade is an open social trading network, where any user can become a signal provider, as long as they have a trading account at ZuluTrade or one of supported brokers. There are 3 trading terminals that can be connected to ZuluTrade Trader Program: ZuluTrade own Web Trader , ActTrader by ActForex and MetaTrader 4 at one of Zulutrade’s partners. For the first two options social trading networks supports own REST API and offers 7 base account currencies. It is possible to provide signals from a demo account. When trading via MT4 only Forex, CFDs, Indices, Gold and Silver are supported. ZuluTrade also offers binary options trading and signal providing via it’s own software ZuluTrade Binary Trader.
Once a trader registers as a signal provider, ZuluTrade’s system starts automatically collecting the information about all trades directly from your trading account. To avoid confusion we must mention that all signal providers at ZuluTrade are called Traders and users who copy them are called Followers. Although ZuluTrade says it ranks Traders by maturity of their strategy (how long has it been running for), exposure (number of open positions at the same time) and drawdown (how many ups and downs the system has experienced), number of Followers and volume of assets under management seem to also matter a lot. Although there is no pre-screening of signal providers at ZuluTrade, a strategy must meet certain requirements to be shown to users from the European Union. First of all, it needs to be executed for at least 12 weeks. Second, maximum drawdown should not be higher than 30% of total profit. And finally, the profit per trade should exceed 5 pips.
Compensation is based on a spread-sharing model. ZuluTrade Forex Signal providers get 0.5 pip per lot traded on their Followers account, pip value varies depending on the currency pair. For US Followers signal providers receive a fixed monthly fee set by ZuluTrade. Subscription fee varies from $50 to $350 per month determined by the number of signal sent. ZuluTrade Binary option signal providers earn 0,5% of the volume their Followers copy (equals $5 per $1000 traded).