Zulutrade, anyone use this service?

I’ve tried Zulu in the past and didn’t really like them. I won’t be using them again. I’d rather just stick to manual.

Dave

You need to know forex basics to use zulutrade, but also do some research, especially on provider selection and settings. Also, monitor your account daily, if you plan to leave for a few days just disable it until you get back.

For me zulu is like a love-hate relationship! I love the way it works and I like to get back all the time, but when I loose I hate it and try to review my settings-providers to make everything work! :stuck_out_tongue:

…but not too hopeful. There’s no such thing as a successful freebie or get rich quick scheme. Fly on the wall (mentioned above) has an average of 24 pips per trade - with the spread between brokers and zulu, you’re at less than 20 pips per trade. Who settles for 20 pips per trade? How do you make money that way?

I’m giving longer term providers a try, but I’m more interested in seeing their strategy. So far, I’m not impressed-I’ll switch out my current ones and keep mixing it up. I’ll do anything for a buck, but there is no way I’m linking up zulu to my current broker and releasing control of my account to someone else.

Just me, but then I was born a baby pip and baby pips’ has suckled me to a toddler trader. :smiley: I’d rather do this trading schtick myself, but I’ll update this thread with success of failure stories…as you can see I’m extremely skeptical.

To my mind a lot of the responses on this thread are highlighting the fact that a good trader is not necessarily going to make money with ZuluTrade (and vice versa).

A good trader will know the importance of money management and can make a judgement about the trading skills of a ZT signal provider. However if that trader does not spend the significant amount of time that it takes to research and analyse the best signal providers and then fine-tune their account settings they will probably not make much money.

i’m very unsatisfied with zulutrade service… I started to trade with their demo and my results were good. I won the 20% of my initial investment… so I opened a real account and in two weeks my deposit was over…I felt like a fool… Is the zulutrade demo a scam?.. :frowning:

Well its not a scam, but its complicated. It depends which broker and providers you chose, as some brokers tend to charge more for connecting to zulu and also give a different price feed from the provider’s broker, so you must also look at the slippage chart as well.
Also, I think you got overconfident with your demo results and opened too many lots, risked too much in the beginning and in the end you lost…
My advice is to read through this thread, there are a lot of useful info on how to setup an account. A few things: dont open too many lots when you start, until you see that what you get in your demo you also get it on your live. When I started I was only using 3-4 micro lots max and when I felt confident, I opened up more.
And use demos with exactly the same capital and leverage as your live :slight_smile:

There are scammers on Zulutrade without a doubt. Be VERY careful with Zulu guys.

I agree, there are signal providers that are scammers who are only trying to fleece their followers.

The Zulutrade system is not a scam but they do not regulate the unscrupulous signal providers.

iamforex, to add to nicklang’s advice I suggest if you get a new live account do not add any signal providers with less than 6 months history. This will eliminate a lot of the dodgy SPs. When you get used to the live system you can add newer ones if you want.

Yeah true. Can’t say Zulu themselves are scammers, but they ALLOW scammers to prosper, which is a shame.

Yeah I agree there should be some kind of regulation or proof of past experience when applying for provider.
But with the details each providers account has, its very simple to discriminate the good from the bad and if you doubt, just test on demo :slight_smile:

It is an interesting model, really cool actually. But looking at their home page under “Top Live Accounts and how they did it”

User ALPR8xx gained 145150 pips in 28 trades since Feb 04

That is over 5K pips per trade in 7 days? Call me negative, but I don’t believe that for one second.

Yes, I see the numbers, but I can’t find “how he did it”…

This is true. I won the same in zulu, in one week 145150 pips; $10 per pip= $1,451,150. And I opened my account with only $1 !!!. Now ,with this money, I’m thinking of buying an oil platform.

With zulu, the only thing that you can obtain is if you have an account with $1,451,150 in one month turn in $1.

Dont fall for these kind of advertising tricks! Do your own research if you plan to use zulutrade and if you have any questions, ask here and maybe I can help out :slight_smile:

that seems almost impossible!

I can help you too if you have any question about zulutrade. And I can tell you, what as I just read in another forum, how zulutrade fake its signals to place them in the best ranking positions.

This would be a disaster if this method of trading was done on a live account. The whole purpose of Signal Providers off of Zulu is that they autotrade the account for you, including stops that those providers place. If the SP closes trades, but your account is left open with those trades, then you got a problem with Zulutrade and the whole point of following a SP is worthless

Sounds all well and good, but even by using Zulutrade’s built-in backtest function for 7 days on Trendfollow (I just put in the figures just now), its showing a -476 loss. A lot of systems fail over distinct time frames. Just because it starts at so-and-so date and shows a profit is sometimes misleading.

Well in the case that a trade stays open, you apply for refund and usually you get it! It happened to me sometimes and got refund.
IMO if you want to open a live account with them, start with micro lots, a few open positions for a week or two to see how the system is behaving.