In any type of investment, there’s always going to be risk involved, and it multiplies when you’re not sure of what you’re doing. It’s why so many new investors shy away from online trading when they don’t have the necessary skills and information. That’s where copy trading comes in as a viable alternative. When you don’t have the expertise to make informed trading decisions, you can simply follow someone who does!
Among the different copy trading platforms out there, ZuluTrade has managed to retain a large user base of investors and leaders alike! To see if it lives up to the hype and meets investors’ need for a secure platform, I signed up for an account. Let’s talk about its features and offerings in this ZuluTrade review.
ZuluGuard Capital Protection
For starters, let’s talk about how the platform manages to keep all its investors safe from the risk of bigger losses. Easy, it does this with the ZuluGuard feature which is designed to close positions by a leader whose strategy isn’t following the expected loss profile. It works by monitoring leaders’ activities to see if they’re on track and getting the right results for their copiers and followers to make a gain.
When you’re using the platform, it asks you for a specific capital protection amount. This acts as a limit for your losses, so even if a leaders’ trades don’t go as expected, you don’t take on any more losses than you can afford. When your threshold is met, the ZuluGuard feature is activated and it closes any open positions you may have from a specific leader.
View The Latest Market News
Even when you’re not really making any active decisions for your investment profile, it’s still important that you’re updated with the latest trends in the market. Lucky for you, there’s no need to hop from one news outlet to the other. Instead, you can just access the current happenings in different financial markets through the ZuluTrade platform.
Because it offers so many assets and trading pairs, you can view news related to the forex, stocks, and commodities markets, as well as others. When you do that, you’ll start to form an understanding of how the prices of financial assets are affected by current events.
Use a Demo Mode Before You Start
No one wants to fully commit to a product before they’re sure of its abilities. The same applies to a copy trading platform that may or may not meet your needs. To prevent disappointment and frustration, ZuluTrade has a realistic demo mode that investors can use to get a close look at what the platform provides.
You’ll be able to see the copy trading platform in motion as it opens positions for you based on the leaders you follow. It’s a great way to get some practical experience before you actually enter the market and use your investment.
One of the most common questions investors ask when they join a copy trading platform is, ‘which leaders should I follow?’ Of course, you can always check out the top leaders and choose who to follow based on the assets they’re trading.
But to make an informed decision, you can use the helpful simulator. It’s an efficient trading tool that you can use to set a specific amount and trading timeframe. Then, select a leader you’re considering and see how you perform when you copy their trades. When you’re struggling to choose between two leaders, this is a quick way to see who can give you better results. Plus, it doesn’t need any trial and error.
Get Current Pricing Data
As an investor, you should know the current prices of the assets you’re investing in. This allows you to make quick decisions as to whether you want to keep a certain position open or not. With ZuluTrade, you’ll be able to get current pricing data for a number of assets.
Additionally, you can also view the calendar to determine how the values of assets have changed and whether they changed according to analysts’ predictions. Plus, you’re able to filter the information provided by the calendar based on regions.
To summarize the different points I mentioned above, ZuluTrade.com is a comprehensive platform for investors who are still learning about the market. Thanks to ZuluGuard protection, you don’t have to worry about facing bigger losses than you can afford. To get updates on the financial markets and economic conditions that can affect your investments, you can view the latest news. There’s even a demo account that new users can try out prior to starting their copy trading journey. Plus, the leader simulator is a great way to see how effective a specific leader is and how they can improve your profits.